Higher Education

Risk Management and Derivatives, 1st Edition

  • René M. Stulz Ohio State University
  • ISBN-10: 0538861010  |  ISBN-13: 9780538861014
  • 792 Pages
  • © 2003 | Published
  • College Bookstore Wholesale Price = $255.00

About

Overview

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.

Additional Product Information

Table of Contents

1. Introduction to Derivatives. 2. Investors, Derivatives and Risk Management. 3. Creating value with risk management. 4. An integrated approach to risk management. 5. Forward and futures contracts. 6. Hedging exposures with forward and futures contracts. 7. Optimal hedges for the real world. 8. Identifying and managing cash flow exposures. 9. Hedging with options. 10. Option pricing, dynamic hedging, and the binomial model. 11. The Black-Scholes model. 12. Risk measurement and risk management with nonlinear payoffs. 13. Options on bonds and interest rates. 14. The demand and supply for derivative products. 15. Swaps. 16. Using Exotic Options. 17. Credit risks and credit derivatives. 18. The practice of risk management: Recent and future developments.

Meet the Author

Author Bio

René M. Stulz

René M. Stulz is the Everett D. Reese Chair of Banking and Monetary Economics at the Ohio State University and the Director of the Dice Center for Research in Financial Economics at the Ohio State University. He previously taught at the University of Rochester and held visiting appointments at the Massachusetts Institute of Technology and the University of Chicago. He was a Marvin Bower Fellow at the Harvard Business School for the 1996-1997 academic year. He received his Ph.D. from the Massachusetts Institute of Technology. He holds an honorary doctorate from the University of Neuchâtel in Switzerland and is a Fellow of the Financial Management Association. René M. Stulz was editor of the Journal of Finance for twelve years and a co-editor of the Journal of Financial Economics for five years. He edits the corporate finance and banking abstracts for the Social Sciences Research Network. He is also on the editorial board of several academic and practitioner journals. Further, he is a research associate of the National Bureau of Economic Research.