Intermediate Financial Theory

Intermediate Financial Theory, Fourth Edition provides an updated and thorough explanation of basic financial concepts, in a manner accessible both to those new to the subject and to those without a deep background in advanced mathematics. It is ideal for students with a background in Economics who are looking for an accessible yet rigorous introduction to financial theory beyond basic MBA-level textbooks. While not as dense as highly technical Ph.D. presentations tend to be, this valuable text seeks rather to integrate academic expertise with real-world experience from leading experts in the field. The fourth edition has been fully updated and is supplemented by extensive online resources. - Completely updated edition of a classic textbook that fills a gap between MBA- and PhD-level texts. - Focuses on clear explanations of key concepts and requires limited mathematical prerequisites. - Emphasizes the distinction between the equilibrium and the arbitrage perspectives on valuation and pricing. - The 4th edition includes new chapters focused on the 2008-2009 financial crisis, the sustainability challenge, the safe asset shortage, discounting from a long run (climate change) perspective. It also collects, in a new separate chapter, relevant insights from a corporate finance perspective. - Online solutions manual available for qualified instructors