Security Investment Analysis - (Second Edition)

Author: Yang Zhaojun
Publisher:
Publish Date: 2007-01-01
Features: Under the influence of the current global trend of financial securitization, security investment has naturally become a major research field in modern finance, and Security Investment Analysis has consequently become an important textbook for finance programs in prestigious management schools of Western developed countries. It can be said that security investment analysis is a profound subject. On the knowledge level, security investment not only encompasses traditional investment analysis theories and methods such as macroeconomics, microeconomics, industry analysis, and company research but also, since the birth of modern portfolio theory in the 1980s, has incorporated numerous modern investment analysis techniques, such as Modern Portfolio Theory (MPT), Capital Asset Pricing Model (CAPM), Arbitrage Pricing Theory (APT), and option theory. With the support of rapidly advancing computer technology, modern portfolio investment analysis is playing an increasingly significant role in large-scale institutional investment management. It can be said that the emergence of modern portfolio theory was a major revolution in finance, not only profoundly altering the logic and scope of traditional investment analysis but also rapidly permeating the entire financial field, such as research in banking and insurance. This book is written as a textbook for graduate students in economics, finance, and management, senior undergraduate students in related fields, as well as college teachers and professionals engaged in security investment research. With over 500,000 words, the author introduces the fundamental concepts of security investment, elaborates on the theory of security investment decision-making, and explores practical operational issues in asset portfolio realization within the securities field, including pricing, management, and performance evaluation.