This book provides a cutting edge introduction to market risk management for Hedge Funds, Hedge Funds of Funds, and the numerous new indices and clones launching coming to market on a near daily basis. It will present the fundamentals of quantitative risk measures by analysing the range of Value-at-Risk (VaR) models used today, addressing the robustness of each model, and looking at new risk measures available to more effectively manage risk in a hedge fund portfolio.
The book begins by analysing the current state of the hedge fund industry - at the ongoing institutionalisation of the market, and at its latest developments. It then moves on to examine the range of risks, risk controls, and risk management strategies currently employed by practitioners, and focuses on particular risks embedded in the more classic investment strategies such as Long/Short, Convertible Arbitrage, Fixed Income Arbitrage, Short selling and risk arbitrage. Addressed along side these are other risks common to hedge funds, including liquidity risk, leverage risk and counterparty risk. The book then moves on to examine more closely two models which provide the underpinning for market risk management in investment today - Style Value-at-Risk and Implicit Value-at-Risk. As well as full quantitative analysis and backtesting of each methodology, the authors go on to propose a new style model for style and implicit Var, complete with analysis, real life examples and backtesting. The authors then go on to discuss annualisation issues and risk return before moving on to propose a new model based on the authors own Best Choice Implicit VaR approach, incorporating quantitative analysis, market results and backtesting and also its potential for new hedge fund clone products. This book is the only guide to VaR for Hedge Funds and will prove to be an invaluable resource as we embark into an era of increasing volatility and uncertainty.
The definitive question and answer guide to understanding corporate finance From the team behind the popular corporate finance website, Vernimmen.com comes a concise guide to the subject, presented in an easy-to-use, highly accessible "question and answer" format. An essential reference for students of corporate finance and practising corporate financiers alike, Frequently Asked Questions in Corporate Finance answers key questions in financial engineering, valuation, financial policy, cost of capital, financial analysis, and financial management. Covering both the theory and practice of corporate finance, the book demonstrates how financial theory can be put to use solving practical problems. What advantages are there to a business looking to spin off its divisions into subsidiaries? Is there a formula that can be used to determine the change in normalised free cash flows? What are the possible reasons behind a share buyback? What are the pros and cons of off-market share buy-back? Filled with the answers to all of the most common, and not so common, questions about corporate finance, the book presents authoritative, reliable information from a respected team of experts from the banking, corporate, and academic worlds.
The definitive question and answer guide to understanding corporate finance From the team behind the popular corporate finance website, Vernimmen.com comes a concise guide to the subject, presented in an easy-to-use, highly accessible "question and answer" format. An essential reference for students of corporate finance and practising corporate financiers alike, Frequently Asked Questions in Corporate Finance answers key questions in financial engineering, valuation, financial policy, cost of capital, financial analysis, and financial management. Covering both the theory and practice of corporate finance, the book demonstrates how financial theory can be put to use solving practical problems. What advantages are there to a business looking to spin off its divisions into subsidiaries? Is there a formula that can be used to determine the change in normalised free cash flows? What are the possible reasons behind a share buyback? What are the pros and cons of off-market share buy-back? Filled with the answers to all of the most common, and not so common, questions about corporate finance, the book presents authoritative, reliable information from a respected team of experts from the banking, corporate, and academic worlds.
Mssbauer Spectroscopy Unique and comprehensive overview of versatile applications of Mssbauer spectroscopy in chemistry and material sciences Mssbauer Spectroscopy provides a comprehensive overview of relevant applications of this physical analysis method in chemistry and material sciences. The book shows the versatility of Mssbauer spectroscopy in finding useful information on electronic structure, structural insights, and solid-state effects of chemical systems. A wide range of chemical applications and applied concepts are covered as well as numerous examples, selected from recent literature. To aid in reader comprehension and accessibility, contents are well-structured and divided in different sections covering energy, catalysis, coordination chemistry, spin crossover, sensing, photomagnetism. Edited by prominent scientists in the field and authored by a group of international experts, Mssbauer Spectroscopy covers sample topics such as: Li-ion batteries, catalysts, fuel cells, Fe based silicides and iron phosphates containing minerals Gold clusters and gold mixed valence complexes Molecule based magnets, photoswitchable spin crossover coordination polymers and molecular sensors for meat freshness control With comprehensive coverage of the developments in the technique, Mssbauer Spectroscopy is a beneficial resource for researchers, professionals, and academics in chemistry related fields, such as material science, sustainable environment, and molecular electronics. It can be used by newcomers as well as for educational purposes at the master and PhD levels.
On the world map, macro-regions or global regions have gradually emerged, with varying degrees of success and following different trajectories. The authors of this book attempt to determine whether, within the context of globalization, these macro-regions have become an additional level in the spatial deployment of numerous actors, and whether they have come to stand between the national and global levels. This question has arisen because the increasing scales of trade, environmental problems, migration routes, energy distribution, the construction of major infrastructures etc. transcend national boundaries and are leading states to implement macro-regional cooperation. The authors ask whether these large regional groupings are becoming genuine territories and are the fruit of in-depth regional integration - economic, institutional, legal, normative, political, cultural and in terms of identity. If so, these global regions would therefore become referents that make sense and take root in social representations.
