Continuous-Time Models in Corporate Finance, Banking, and Insurance : : A User's Guide / / Jean-Charles Rochet, Santiago Moreno-Bromberg.
Continuous-Time Models in Corporate Finance synthesizes four decades of research to show how stochastic calculus can be used in corporate finance. Combining mathematical rigor with economic intuition, Santiago Moreno-Bromberg and Jean-Charles Rochet analyze corporate decisions such as dividend distr...
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Place / Publishing House: | Princeton, NJ : : Princeton University Press, , [2018] ©2018 |
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Moreno-Bromberg, Santiago, author. aut http://id.loc.gov/vocabulary/relators/aut Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide / Jean-Charles Rochet, Santiago Moreno-Bromberg. Princeton, NJ : Princeton University Press, [2018] ©2018 1 online resource (176 p.) : 15 line illus. text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Contents -- Preface -- Introduction -- 1. Why Is Option Pricing Useful in Corporate Finance? -- 2. The Base Liquidity-Management Model -- 3. Equity Issuance -- 4. Applications to Banking -- 5. Applications to Insurance -- 6. Applications to Investment -- 7. Agency Frictions -- 8. Equilibrium Models -- Appendix A Proofs of Main Results and Technical Complements -- Appendix B The Modigliani-Miller Theorem -- Appendix C Useful Mathematical Results -- References -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star Continuous-Time Models in Corporate Finance synthesizes four decades of research to show how stochastic calculus can be used in corporate finance. Combining mathematical rigor with economic intuition, Santiago Moreno-Bromberg and Jean-Charles Rochet analyze corporate decisions such as dividend distribution, the issuance of securities, and capital structure and default. They pay particular attention to financial intermediaries, including banks and insurance companies.The authors begin by recalling the ways that option-pricing techniques can be employed for the pricing of corporate debt and equity. They then present the dynamic model of the trade-off between taxes and bankruptcy costs and derive implications for optimal capital structure. The core chapter introduces the workhorse liquidity-management model-where liquidity and risk management decisions are made in order to minimize the costs of external finance. This model is used to study corporate finance decisions and specific features of banks and insurance companies. The book concludes by presenting the dynamic agency model, where financial frictions stem from the lack of interest alignment between a firm's manager and its financiers. The appendix contains an overview of the main mathematical tools used throughout the book.Requiring some familiarity with stochastic calculus methods, Continuous-Time Models in Corporate Finance will be useful for students, researchers, and professionals who want to develop dynamic models of firms' financial decisions. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 27. Sep 2021) Banks and banking. Corporations Finance. Options (Finance). BUSINESS & ECONOMICS / Corporate Finance / General. bisacsh Rochet, Jean-Charles, author. aut http://id.loc.gov/vocabulary/relators/aut Title is part of eBook package: De Gruyter Princeton University Press Complete eBook-Package 2018 9783110606591 print 9780691176529 https://doi.org/10.1515/9781400889204?locatt=mode:legacy https://www.degruyter.com/isbn/9781400889204 Cover https://www.degruyter.com/document/cover/isbn/9781400889204/original |
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English |
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Moreno-Bromberg, Santiago, Moreno-Bromberg, Santiago, Rochet, Jean-Charles, |
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Moreno-Bromberg, Santiago, Moreno-Bromberg, Santiago, Rochet, Jean-Charles, Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide / Frontmatter -- Contents -- Preface -- Introduction -- 1. Why Is Option Pricing Useful in Corporate Finance? -- 2. The Base Liquidity-Management Model -- 3. Equity Issuance -- 4. Applications to Banking -- 5. Applications to Insurance -- 6. Applications to Investment -- 7. Agency Frictions -- 8. Equilibrium Models -- Appendix A Proofs of Main Results and Technical Complements -- Appendix B The Modigliani-Miller Theorem -- Appendix C Useful Mathematical Results -- References -- Index |
author_facet |
Moreno-Bromberg, Santiago, Moreno-Bromberg, Santiago, Rochet, Jean-Charles, Rochet, Jean-Charles, Rochet, Jean-Charles, |
author_variant |
s m b smb s m b smb j c r jcr |
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VerfasserIn VerfasserIn VerfasserIn |
author2 |
Rochet, Jean-Charles, Rochet, Jean-Charles, |
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j c r jcr |
author2_role |
VerfasserIn VerfasserIn |
author_sort |
Moreno-Bromberg, Santiago, |
title |
Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide / |
title_sub |
A User's Guide / |
title_full |
Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide / Jean-Charles Rochet, Santiago Moreno-Bromberg. |
title_fullStr |
Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide / Jean-Charles Rochet, Santiago Moreno-Bromberg. |
title_full_unstemmed |
Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide / Jean-Charles Rochet, Santiago Moreno-Bromberg. |
title_auth |
Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide / |
title_alt |
Frontmatter -- Contents -- Preface -- Introduction -- 1. Why Is Option Pricing Useful in Corporate Finance? -- 2. The Base Liquidity-Management Model -- 3. Equity Issuance -- 4. Applications to Banking -- 5. Applications to Insurance -- 6. Applications to Investment -- 7. Agency Frictions -- 8. Equilibrium Models -- Appendix A Proofs of Main Results and Technical Complements -- Appendix B The Modigliani-Miller Theorem -- Appendix C Useful Mathematical Results -- References -- Index |
title_new |
Continuous-Time Models in Corporate Finance, Banking, and Insurance : |
title_sort |
continuous-time models in corporate finance, banking, and insurance : a user's guide / |
publisher |
Princeton University Press, |
publishDate |
2018 |
physical |
1 online resource (176 p.) : 15 line illus. Issued also in print. |
contents |
Frontmatter -- Contents -- Preface -- Introduction -- 1. Why Is Option Pricing Useful in Corporate Finance? -- 2. The Base Liquidity-Management Model -- 3. Equity Issuance -- 4. Applications to Banking -- 5. Applications to Insurance -- 6. Applications to Investment -- 7. Agency Frictions -- 8. Equilibrium Models -- Appendix A Proofs of Main Results and Technical Complements -- Appendix B The Modigliani-Miller Theorem -- Appendix C Useful Mathematical Results -- References -- Index |
isbn |
9781400889204 9783110606591 9780691176529 |
url |
https://doi.org/10.1515/9781400889204?locatt=mode:legacy https://www.degruyter.com/isbn/9781400889204 https://www.degruyter.com/document/cover/isbn/9781400889204/original |
illustrated |
Illustrated |
doi_str_mv |
10.1515/9781400889204?locatt=mode:legacy |
oclc_num |
1013734080 |
work_keys_str_mv |
AT morenobrombergsantiago continuoustimemodelsincorporatefinancebankingandinsuranceausersguide AT rochetjeancharles continuoustimemodelsincorporatefinancebankingandinsuranceausersguide |
status_str |
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ids_txt_mv |
(DE-B1597)501201 (OCoLC)1013734080 |
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cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Princeton University Press Complete eBook-Package 2018 |
is_hierarchy_title |
Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide / |
container_title |
Title is part of eBook package: De Gruyter Princeton University Press Complete eBook-Package 2018 |
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