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Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide by Santiago Moreno-Bromberg, Jean-Charles Rochet is a nonfiction available to read on EtoBox.

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" 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 fi

Who reads Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide?

Author

Santiago Moreno-Bromberg, Jean-Charles Rochet

Publisher

Princeton University Press

Published

2018

Language

EN

ISBN

9781400889204

Category

nonfiction

Subjects

Finance, Business, Management