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- Product code: 13075
- ISBN: 0262024829,
ISBN13: 9780262024822,
415 pages, Disk + Hb
Published by MIT Press on 2000
, 2nd Rate this book...
Rating: 3.0/5 (3 votes cast)
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Description of Financial Modeling |
Too often, finance courses stop short of making a connection between textbook finance and the problems of real-world business. 'Financial Modelling' bridges this gap between theory and practice by providing a nuts-and-bolts guide to solving common financial models with spreadsheets. Simon Benninga takes the reader step by step through each model, showing how it can be solved using Microsoft Excel. In this sense, this is a finance 'cookbook', providing recipes with lists of ingredients and instructions.
Areas covered include computation of corporate finance problems, standard portfolio problems, option pricing and applications, and duration and immunization. The second edition contains six new chapters covering financial calculations, cost of capital, value at risk, real options, early exercise boundaries, and term structure modelling. A new technical chapter contains a potpourri of tips for using Excel.
Although the reader should know enough about Excel to set up a simple spreadsheet, the author explains advanced Excel techniques used in the book. The book includes chapters dealing with random number generation, data tables, matrix manipulation, and VBA programming. It also comes with a CD-ROM containing Excel worksheets and solutions to end-of-chapter exercises. The CD-ROM is platform-independent.
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Reviews'The book together with its accompanying software allows the reader to learn the art of financial modelling. As such it serves to bridge the gap between financial theory and its implementation.'
Peter Ritchken, Professor of Banking & Finance, Wetherhead School of Management
'Simon Benninga's book is the best resource on the market for people interested in DOING finance. The spreadsheet examples are easily used, state-of-the-art, and unique. The use of VBA is particularly useful, given that it is rapidly becoming the programming language on the Street. I would highly recommend this book to both academics and practitioners interested in constructing finance models.'
Tim Opler, Deutsche Morgan Grenfell Department of Finance, Ohio University
| Contents of Financial Modeling |
I. Corporate Finance Models
1. Basic Financial Calculations
2. Calculating the Cost of Capital
3. Financial Statement Modeling
4. Using Financial Statement Models for Valuation
5. The Financial Analysis of Leasing
6. The Financial Analysis of Leveraged Leases
II. Portfolio Models
7. Portfolio Models - Introduction
8. Calculating the Variance-Covariance Mix
9. Calculating Efficient Portfolios Where There Are No Short Sale Restrictions
10. Estimating Betas and The Security Market Line
11. Efficient portfolios without Short Sales
12. Value at Risk (VaR)
III. Option Pricing Models
13. An Introduction to Options
14. The Binomial Option-Pricing Model
15. The Lognormal Distribution
16. The Black-Scholes Model
17. Portfolio Insurance
18. Real Options
19. Early Exercise Boundaries
IV. Bonds and Duration
20. Duration
21. Immunization Strategies
22. Modeling the Term Structure
23. Calculating Default-Adjusted Expected Bond Returns
24. Duration and Cheapest-to-Deliver Problem for Treasury Bond Futures Contracts
V. Technical Considerations
25. Random Numbers
26. Data Table
27. Matrices
28. The Gauss-Seidel Method
29. Excel Functions
30. Some Excel Hints
VI. Introduction to Visual basic for Applications
31. User-defined Functions with Visual Basic for Applications
32. Types and Loops
33. Macros and User Interaction
34. Arrays
35. Objects
References
Index
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