金融衍生品与风险管控实务解析.pptVIP

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  • 2026-07-14 发布于江苏
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DerivativesecuritiesFundamentalsofriskmanagementUsingderivativestoreduceinterestrateriskCHAPTER18

DerivativesandRiskManagement第一页,共三十五页。第1页

Ifvolatilityisduetosystematicrisk,itcanbeeliminatedbydiversifyinginvestors’portfolios. Whymightstockholdersbeindifferenttowhetherornotafirmreducesthevolatilityofitscashflows?第二页,共三十五页。第2页

Increasetheiruseofdebt.Maintaintheiroptimalcapitalbudget.Avoidfinancialdistresscosts.Utilizetheirparativeadvantagesinhedging,paredtoinvestors.Reducetherisksandcostsofborrowing.ReasonsRiskManagement

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