Foundations of Global Financial Markets and Institutions, fifth edition
1088 pp., 8 x 9 in, 52 figures
- Published: April 30, 2019
- Published: April 5, 2019
A thoroughly revised and updated edition of a textbook for graduate students in finance, with new coverage of global financial institutions.
This thoroughly revised and updated edition of a widely used textbook for graduate students in finance now provides expanded coverage of global financial institutions, with detailed comparisons of U.S. systems with non-U.S. systems. A focus on the actual practices of financial institutions prepares students for real-world problems.
After an introduction to financial markets and market participants, including asset management firms, credit rating agencies, and investment banking firms, the book covers risks and asset pricing, with a new overview of risk; the structure of interest rates and interest rate and credit risks; the fundamentals of primary and secondary markets; government debt markets, with new material on non-U.S. sovereign debt markets; corporate funding markets, with new coverage of small and medium enterprises and entrepreneurial ventures; residential and commercial real estate markets; collective investment vehicles, in a chapter new to this edition; and financial derivatives, including financial futures and options, interest rate derivatives, foreign exchange derivatives, and credit risk transfer vehicles such as credit default swaps. Each chapter begins with learning objectives and ends with bullet point takeaways and questions.
For almost twenty years I have been assigning this book to my students, through successive editions, because it is very thorough and insightful in describing real-world activities and clear and broad in its presentation of theory. I am glad to see the new emphasis in this edition on global markets, for my students appreciate their importance to all of us as we continue to see globalization proceed
Robert J. Shiller, Sterling Professor of Economics, Yale University
During these turbulent times, students of finance and international business must be kept abreast on the ramifications on the financial world of external actions and decisions by world leaders. This textbook provides the topical fundamental knowledge and helps students develop a critical perspective on the implications for global business.
Deanne Butchery, University Lecturer in Finance, Florida International University