Intermediate Financial Theory

Intermediate Financial Theory is intended primarily for students seeking a master's degree and advanced MBAs taking a course in finance. This text is for those who find the doctoral texts excessively abstract and introductory texts too elementary.

Features:

Offers a concise, rigorous, yet accessible review of the main ideas of modern financial theory

• Modern Portfolio Theory in Chapter 5
• Capital Asset Pricing Model in Chapter 6
• Martingale Measure in Chapters 9 and 11
• Arbitrage Pricing Theory in Chapter 12
• Efficient Market Hypothesis in Chapter 14

Provides a glance into those new developments and ideas that are likely to shape future financial practice and thinking

• Arrow-Debreu pricing in Chapter 7
• Risk-neutral pricing in Chapters 9 and 11
• Consumption Capital Asset Pricing Model in Chapter 10
• Market incompleteness in Chapter 13
• Dirrerential information in Chapter 14