In direct contrast to most
existing derivatives books which emphasize issues related to the pricing and hedging of
derivatives and are intended more to train traders, not managers, this groundbreaking book
is designed for those who want to teach managers how to use derivatives to maximize firm
value through risk management. This book presents the crucial tools necessary for
executives and future derivatives players to effectively hedge with derivatives in order
to protect firms from losses. Coverage includes all the pricing tools that are necessary
for those who seriously intend to use derivatives as well as the necessary tools to
evaluate how to use a particular derivative to reduce risk. Rather than focusing on an
array of possible derivatives, the book is much more concerned about teaching a general
approach to use derivatives so that students know how to use existing derivatives for risk
management as well as derivatives that do not yet exist.
Benefits:
Readable, practical text:
Great fit for a first course in derivatives at the undergraduate or graduate level.
Written to emphasizes the
role of managers: Managers will use derivatives to maximize firm value as opposed to
traders who may use derivatives to speculate.
Has a full compliment of
pedagogy: Includes chapter objectives, summary, "key concepts," questions, and
exercises.
Applications boxes: Chapter
concepts are applied to real-world examples.
Technical boxes: Concepts
presented within the chapters are taken to a further level of conceptual or mathematical
rigor.
689 pages