{"product_id":"continuous-time-models-in-corporate-finance-banking-and-insurance-a-users-guide-9780691176529","title":"Continuous-Time Models in Corporate Finance, Banking, and Insurance: A User's Guide","description":"\u003cp\u003e\u003ci\u003eContinuous-Time Models in Corporate Finance\u003c\/i\u003e synthesizes four decades of research to show how stochastic calculus can be used in corporate finance. Combining mathematical rigor with economic intuition, Santiago Moreno-Bromberg and Jean-Charles Rochet analyze corporate decisions such as dividend distribution, the issuance of securities, and capital structure and default. They pay particular attention to financial intermediaries, including banks and insurance companies. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eThe authors begin by recalling the ways that option-pricing techniques can be employed for the pricing of corporate debt and equity. They then present the dynamic model of the trade-off between taxes and bankruptcy costs and derive implications for optimal capital structure. The core chapter introduces the workhorse liquidity-management model--where liquidity and risk management decisions are made in order to minimize the costs of external finance. This model is used to study corporate finance decisions and specific features of banks and insurance companies. The book concludes by presenting the dynamic agency model, where financial frictions stem from the lack of interest alignment between a firm's manager and its financiers. The appendix contains an overview of the main mathematical tools used throughout the book. \u003cp\u003e\u003c\/p\u003eRequiring some familiarity with stochastic calculus methods, \u003ci\u003e Continuous-Time Models in Corporate Finance\u003c\/i\u003e will be useful for students, researchers, and professionals who want to develop dynamic models of firms' financial decisions.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Santiago Moreno-Bromberg, Jean-Charles Rochet\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Princeton University Press\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 01\/08\/2018\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 176\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.15lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.20h x 6.30w x 1.00d\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9780691176529\u003cbr\u003e\u003cp\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eSantiago Moreno-Bromberg\u003c\/b\u003e is senior researcher in the Center for Finance and Insurance at the University of Zurich. \u003cb\u003eJean-Charles Rochet\u003c\/b\u003e is professor of banking at the University of Zurich, senior chair and head of research at the Swiss Finance Institute, and research director at the Toulouse School of Economics.\u003cbr\u003e\u003c\/p\u003e","brand":"Princeton University Press","offers":[{"title":"Hardcover","offer_id":40440946458739,"sku":"9.78E+12","price":80.66,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0555\/9255\/0515\/products\/img_4a0c42b9-7c89-42ac-bbaa-29bb5fd5ccd1.jpg?v=1663252263","url":"https:\/\/bookstorenmore.com\/products\/continuous-time-models-in-corporate-finance-banking-and-insurance-a-users-guide-9780691176529","provider":"Bookstore N More","version":"1.0","type":"link"}