第1章 绪论 第2章 期货市场及交易 第3章 远期和期货价格 第4章 利率期货 第5章 互换 第6章 期权市场 第7章 股票期权价格的性质 第8章 期权的交易策略 第9章 二叉树模型 第10章 股票价格的行为模式 第11章 Black-Scholes模型分析 第12章 股票指数期权、货币期权和期货期权 第13章 衍生证券定价的一般方法 第14章 市场风险的管理

Income statement SALES EXPENSES PROFIT

Security valuation In general, the intrinsic value of an asset= the present value of the stream of expected cash flows discounted at an appropriate required rate of return

Characteristics of Bonds o Bonds pay fixed coupon ( interest) payments at fixed intervals(usually every 6 months)and pay the par value at maturity

Chapter 6: Objectives Inflation and rates of return How to measure risk (variance, standard deviation, beta) How to reduce risk (diversification) How to price risk (Security market line, CAPM)

The Time value of money Compounding and Discounting Single Sums

Financial forecasting 1) Project sales revenues and expenses

Financial statement analysis Are our decisions maximIzing shareholder wealth?

Corporate restructuring 1960s- Mergers of unrelated firms formed huge conglomerates 1980s-Investors purchased conglomerates and sold off the pieces as independent companies. 1990s- Strategic mergers of related firms to create synergies

International Business finance Exchange Rate: the price of one currency in terms of another