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Kerry E. Back offers a concise yet comprehensive introduction to and overview of asset pricing. Intended as a textbook for asset pricing theory courses at the PhD or Masters in Quantitative Finance level with extensive exercises and a solutions manual available for professors, it is also an essential reference for financial researchers and professionals as it includes detailed proofs and calculations as section appendices.

Capital assets pricing model. --- Portfolio management.

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The past three decades have been characterized by vast change and crises in global financial markets-and not in politically unstable countries but in the heart of the developed world, from the Great Recession in the United States to the banking crises in Japan and the Eurozone. As we try to make sense of what caused these crises and how we might reduce risk factors and prevent recurrence, the fields of finance and economics have also seen vast change, as scholars and researchers have advanced their thinking to better respond to the recent crises. A momentous collection of the best recent scholarship, After the Flood illustrates both the scope of the crises' impact on our understanding of global financial markets and the innovative processes whereby scholars have adapted their research to gain a greater understanding of them. Among the contributors are José Scheinkman and Lars Peter Hansen, who bring up to date decades of collaborative research on the mechanisms that tie financial markets to the broader economy; Patrick Bolton, who argues that limiting bankers' pay may be more effective than limiting the activities they can undertake; Edward Glaeser and Bruce Sacerdote, who study the social dynamics of markets; and E. Glen Weyl, who argues that economists are influenced by the incentives their consulting opportunities create.

Financial crises --- Banks and banking --- Capital assets pricing model --- Prevention --- José Scheinkman. --- asset pricing. --- financial crisis. --- financial regulation. --- great recession.

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Product scope adjustment is a key mechanism through which multi-product firms achieve efficient resource allocations. In this paper, we take a novel perspective to study firms’ product scope adjustment behavior through the lens of asset pricing. Using a unique panel scanner data set containing detailed information on products, matched with the financial information of their manufacturers, we find that multi-product firms with higher product turnover have lower financial risks and lower risk premia. To understand this channel, we propose a stylized model with a time-dependent (Calvo-type) product turnover rate to highlight the ’risk absorption channel’ of product scope adjustment. In response to an economy-wide shock, a firm that can adjust its product scope more flexibly shows lower excess equity returns and lower asset volatility.

Prices --- Capital assets pricing model --- Risk management --- Insurance --- Management --- Capital asset pricing model --- CAPM (Capital assets pricing model) --- Pricing model, Capital assets --- Capital --- Finance --- Investments --- Econometric models --- Mathematical models --- E-books --- Investments: Stocks --- Macroeconomics --- Production, Pricing, and Market Structure --- Size Distribution of Firms --- Business Objectives of the Firm --- Firm Performance: Size, Diversification, and Scope --- Industry Studies: Manufacturing: General --- Macroeconomics: Consumption --- Saving --- Wealth --- Labor Economics: General --- Price Level --- Inflation --- Deflation --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Aggregate Factor Income Distribution --- Labour --- income economics --- Investment & securities --- Consumption --- Labor --- Asset prices --- Stocks --- Income --- National accounts --- Financial institutions --- Economics --- Labor economics --- United States --- Income economics

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This book explores the risk-return paradox in portfolio selection by incorporating multi-objective criteria. Empirical research is presented on the development of alternate portfolio models and their relative performance in the risk/return framework to provide solutions to multi-objective optimization. Next to outlining techniques for undertaking individual investor’s profiling and portfolio programming, it also offers a new and practical approach for multi-objective portfolio optimization. This book will be of interest to Foreign Institutional Investors (FIIs), Mutual Funds, investors, and researchers and students in the field.

Portfolio management --- Capital assets pricing model. --- Mathematical models. --- Capital asset pricing model --- CAPM (Capital assets pricing model) --- Pricing model, Capital assets --- Finance. --- Investment banking. --- Securities. --- Capital market. --- Capital investments. --- Investments and Securities. --- Capital Markets. --- Investment Appraisal. --- Personal Finance/Wealth Management/Pension Planning. --- Capital expenditures --- Capital improvements --- Capital spending --- Fixed asset expenditures --- Plant and equipment investments --- Plant investments --- Investments --- Capital markets --- Market, Capital --- Finance --- Financial institutions --- Loans --- Money market --- Securities --- Crowding out (Economics) --- Efficient market theory --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities law --- Underwriting --- Investment banking --- Banks and banking, Investment --- Investment banks --- Funding --- Funds --- Economics --- Currency question --- Law and legislation --- Capital --- Mathematical models --- Personal finance. --- Finance, Personal --- Financial management, Personal --- Financial planning, Personal --- Personal finance --- Personal financial management --- Personal financial planning --- Financial literacy --- Planning --- Pension plans. --- Finance, Personal.