This book looks at the analogic application of standard corporate valuation approaches to trendy digital tokens, expressed by cryptocurrencies, and validated through blockchain systems. Whereas traditional firm appraisal follows institutional guidelines and best practices, frontier research still must define the boundaries of these trendy issues, linking a strong theoretical background to practical advances that still need fine-tuning. This book, written by an academic and a senior consultant, c...
This publication describes how state-owned enterprises (SOEs) can access finance on commercial terms, without sovereign guarantees. Doing so can create fiscal space for governments and new sources of finance for important investments. ADB is committed to SOE reform that supports access to commercial finance in its developing member countries, as also emphasized in Strategy 2030. With the rise of commercial finance for SOEs, this publication details the steps to enhance the bankability of SOEs....
This publication provides an overview of institutional investors' interest in green bonds in Thailand and the perspectives of local arrangers and underwriters on their clients' interest in green bond issuance. It presents the results of a survey to help identify market drivers, impediments, and development priorities for Thailand's sustainable finance market.
Recent Technological Advances in Financial Market Infrastructure in ASEAN+3
This report identifies and examines six key technologies that are transforming fundamental financial market infrastructure and will serve as a springboard for the technological advancement of financial market infrastructure in the region. This report ascertains the most current status of technology adoption by Cross-Border Settlement Infrastructure Forum member organizations. They include central securities depositories and central banks in the Association of Southeast Asian Nations (ASEAN) plu...
This publication draws on findings from a survey on the Philippines' green bond market to provide insights on what support is needed to further develop the country's sustainable finance market. The survey assessed the interest of institutional investors in green bond issuances in the Philippines. It helped identify drivers and impediments for the development of country's sustainable finance market as well as priority areas in which ADB and other development partners could provide support.
Analytical Finance is a comprehensive introduction to the financial engineering of equity and interest rate instruments for financial markets. Developed from notes from the author’s many years in quantitative risk management and modeling roles, and then for the Financial Engineering course at Mälardalen University, it provides exhaustive coverage of vanilla and exotic mathematical finance applications for trading and risk management, combining rigorous theory with real market application. Cove...
The 2008 financial crisis shook the financial derivatives market to its core, revealing a failure to fully price the cost of doing business then. As a response to this, and to cope with regulatory demands for massively increased capital and other measures with funding cost, the pre-2008 concept of Credit Valuation Adjustment (CVA) has evolved into the far more complex hybrid Cross Valuation Adjustment (XVA).This book presents a clear and concise framework and provides key considerations for the...
Credit Derivatives Pricing Models (The Wiley Finance)
by Philipp J. Schoenbucher
The credit derivatives market is booming and, for the first time, expanding into the banking sector which previously has had very little exposure to quantitative modeling. This phenomenon has forced a large number of professionals to confront this issue for the first time. Credit Derivatives Pricing Models provides an extremely comprehensive overview of the most current areas in credit risk modeling as applied to the pricing of credit derivatives. As one of the first books to uniquely focus on p...
Finite Difference Methods in Financial Engineering (Wiley Finance, #312)
by Daniel J. Duffy
The world of quantitative finance (QF) is one of the fastest growing areas of research and its practical applications to derivatives pricing problem. Since the discovery of the famous Black-Scholes equation in the 1970's we have seen a surge in the number of models for a wide range of products such as plain and exotic options, interest rate derivatives, real options and many others. Gone are the days when it was possible to price these derivatives analytically. For most problems we must resort t...
Algorithmic Differentiation in Finance Explained (Financial Engineering Explained)
by Marc Henrard
This book provides the first practical guide to the function and implementation of algorithmic differentiation in finance. Written in a highly accessible way, Algorithmic Differentiation Explained will take readers through all the major applications of AD in the derivatives setting with a focus on implementation. Algorithmic Differentiation (AD) has been popular in engineering and computer science, in areas such as fluid dynamics and data assimilation for many years. Over the last decade, it h...
Stock market integration between developing and emerging markets has numerous benefits for creating a global - yet stable - world economy. It increases competition and the efficiency of local markets, in turn reducing price volatility and the cost of capital among integrated markets. It also generates capital flows, which enhance financial stability and spur economic growth. At its core, stock market integration has an important role to play in both developing and emerging markets still re...
Financial Engineering (Robert W. Kolb, #2) (Robert W. Kolb Series in Finance)
by Tanya S. Beder and Cara M. Marshall
FINANCIAL ENGINEERING Financial engineering is poised for a great shift in the years ahead. Everyone from investors and borrowers to regulators and legislators will need to determine what works, what doesn't, and where to go from here. Financial Engineeringpart of the Robert W. Kolb Series in Financehas been designed to help you do just this. Comprised of contributed chapters by distinguished experts from industry and academia, this reliable resource will help you focus on established activi...
Market Momentum (The Wiley Finance)
by Stephen Satchell and Andrew Grant
A one-of-a-kind reference guide covering the behavioral and statistical explanations for market momentum and the implementation of momentum trading strategies Market Momentum: Theory and Practice is a thorough, how-to reference guide for a full range of financial professionals and students. It examines the behavioral and statistical causes of market momentum while also exploring the practical side of implementing related strategies. The phenomenon of momentum in finance occurs when past high ret...
'Dennis Buchanan’s text clearly shows how an understanding of the complementary disciplines of geoscience, conventional engineering and advanced financial engineering is essential to making the right decisions concerning how to appraise a resource or project and how to structure the funding of natural resources assets in order to mitigate technical and financial risk and to maximise value for owners. Crucially, the book also looks at how other sources of capital, such as limited recourse lende...