Risk management is a subject that now pervades Wall Street, corporate treasuries, and leading investment managers. The next decade will be one in which the title, chief risk officer, grows in importance. Underlying much of this risk management activity is the use of financial derivatives, which can be used to mitigate and tailor any firm’s risk profile. While some have called derivatives the financial equivalent of fire, and others have called them one of the most important financial innovations of the last century, Kolb and Overdahl go directly to the heart of the matter–what derivatives are, and how to prudently use them within the context of your underlying business activities. For those readers who want to understand derivatives of all types, but not necessarily dig into the mathematics surrounding their pricing and valuation, Financial Derivatives, Third Edition provides a comprehensive read.
Book Details:
- Author: Robert W. Kolb
- ISBN: 9780470297803
- Year Published: 2003
- Pages: 336
- BISAC: BUS027000, BUSINESS & ECONOMICS/Finance
About the Book and Topic:
Risk management is a subject that now pervades Wall Street, corporate treasuries, and leading investment managers. The next decade will be one in which the title, chief risk officer, grows in importance. Underlying much of this risk management activity is the use of financial derivatives, which can be used to mitigate and tailor any firm’s risk profile. While some have called derivatives the financial equivalent of fire, and others have called them one of the most important financial innovations of the last century, Kolb and Overdahl go directly to the heart of the matter–what derivatives are, and how to prudently use them within the context of your underlying business activities. For those readers who want to understand derivatives of all types, but not necessarily dig into the mathematics surrounding their pricing and valuation, Financial Derivatives, Third Edition provides a comprehensive read.
Financial Derivatives, Third Edition provides a thorough introduction to financial derivatives and their importance to risk management in the corporate setting. The book has two principal goals: to offer a broad overview of the different types of financial derivatives while focusing on the principals that determine market prices, and to present financial derivatives as a tool for risk management in a corporate setting rather than as instruments of speculation. The book presents this material in an easy-to-understand, non-mathematical way.
* Fully revised to include more coverage of financial engineering and structured products. * Contains new material on credit derivatives and credit risk measurement for derivatives. * Offers a broad overview of the different types of financial derivatives.
About the Author
ROBERT W. KOLB was John S. and James L. Knight Professor of Finance at the University of Miami until 1995. He is author or coauthor of finance texts on a range of topics including futures, options, financial derivatives, investments, corporate finance, and financial institutions. He was founder and president of Kolb Publishing Company, sold to Blackwell Publishers in 1995. His research has been published in Financial Management, the Journal of Finance, the Journal of Risk and Insurance, the Journal of Financial Economics, and the Journal of Futures Markets. JAMES A. OVERDAHL is Chief Economist at the Commodity Futures Trading Commission in Washington, D.C. Previously, Overdahl worked in the Risk Analysis Division at the Office of the Comptroller of the Currency, performing on-site assessments of risk measurement models employed by banks to manage their exposure to risks resulting from derivatives trading and dealing activities. Overdahl has also been a senior economist with the Securities and Exchange Commission, and an adjunct professor of business at Georgetown University, Virginia Polytechnic Institute, George Mason University, and Johns Hopkins University, where he taught MBA courses on investment management, industrial organization, and derivative instruments.