金融市场与机构

作者: 何丽芬著

出版社: 高等教育出版社

出版时间: 2005-05

版次: 1

ISBN: 9787040161632

定价: 38.00

装帧: 平装

开本: 16开

纸张: 胶版纸

页数: 468页

字数: 890千字

正文语种: 简体中文，英语

分类: 教材教辅考试>教材>大学教材>经济

　　《金融市场与机构》从讨论金融市场的资金流动、利率的决定和利率结构出发，系统阐述了金融市场的运作全貌，不仅全面介绍了债务证券市场、权益证券市场、衍生证券市场，而且深入分析了各种金融工具、衍生工具的估价与风险，《金融市场与机构》还着重描述了金融机构对各类金融市场的利用及其在金融市场上所扮演的角色。《金融市场与机构》适合作为金融、经济、工商管理专业本科生、研究生和MBA“金融市场学”或“金融市场与机构”课程的教材。对于金融业的研究人员和从业人员，《金融市场与机构》也是一本难得的专业参考书。　　杰夫·马杜拉（JeffMadura），美国佛罗里达亚特兰大大学金融系教授，他在《金融与数量分析》、《货币、信贷与银行》、《风险与保险》等众多一流刊物上发表了有关银行与金融市场研究方面的学术论文。杰夫·马杜拉教授因其在教学和研究方面的突出贡献而多次获奖，并曾担任商业银行、证券公司的顾问，还曾任美国南方金融协会与东方金融协会的理事以及南方金融协会会长。 PARTI
1OverviewoftheFinancial
Environment
2Chapter1
RoleofFinancialMarketsandInstitutions
OverviewofFinancialMarkets
MoneyversusCapitalMarkets
PrimaryversusSecondaryMarkets
OrganizedversusOver-the-CounterMarkets
SecuritiesTradedinFinancialMarkets
MoneyMarketSecurities
CapitalMarketSecurities
DerivativeSecurities
ValuationofSecuritiesinFinancialMarkets
MarketPricingofSecurities
MarketEfficiency
FinancialMarketRegulation
Disclosure
OtherRegulations
FinancialMarketGlobalization
RoleoftheForeignExchangeMarket
ForeignExchangeRates
RoleofFinancialInstitutionsinFinancialMarkets
RoleofDepositoryInstitutions11
RoleofNondepositoryfinancialInstitutions
ComparisonofRolesamongFinancialInstitutions
OverviewofFinancialInstitutions19
CompetitionbetweenFinancialInstitutions
ConsolidationofFinancialInstitutions
ParticipationinFinancialMarkets
GlobalExpansionbyFinancialInstitutions
30Chapter2
DeterminationofInterestRates
LoanableFundsTheory30
HouseholdDemandforLoanableFunds
BusinessDemandforLoanableFunds
GovernmentDemandforLoanableFunds
ForeignDemandforLoanableFunds
AggregateDemandforLoanableFund~
SupplyofLoanableFunds34
EquilibriumInterestRate36
EconomicForcesThatAffectInterestRates
ImpactofEconomicGrowthonInterestRates
ImpactofInflationonInterestRates39
ImpactoftheMoneySupplyonInterestRates
ImpactoftheBudgetDeficitonInterestRates
ImpactofForeignFlowsofFundsonInterestRates
SummaryofForcesThatAffectInterestRates
EvaluationofInterestRatesoverTime
ForecastingInterestRates
53Chapter
StructureofInterestRates
CharacteristicsofDebtSecuritiesThatCauseTheirYields　toVary
Credit(Default)Risk
Liquidity
TaxStatus
TermtoMaturity
SpecialProvisions
ExplainingActualYieldDifferentials
YieldDifferentialsofMoneyMarketSecurities
YieldDifferentialsofCapitalMarketSecurities
EstimatingtheAppropriateYield
ACloserLookattheTermStructure
PureExpectationsTheory
LiquidityPremiumTheory
SegmentedMarketsTheory
ResearchonTermStructureTheories
IntegratingtheTheoriesoftheTermStructure
UsesoftheTermStructure
ImpactofDebtManagementonTermStructure
ImpactofSeptember11ontheTermStructure
HistoricalReviewoftheTermStructure
InternationalStructureofInterestRates
IntegrativeProblem:InterestRateForecastsandInvestment　Decisions

PARTII
85TheFedandMonetaryPolicy
86Chapter4
FunctionsoftheFed
OrganizationoftheFed
FederalReserveDistrictBanks
MemberBanks
BoardofGovernors
FederalOpenMarketCommittee(FOMC)
AdvisoryCommittees
IntegrationofFederaIReserveComponents
MonetaryPolicyTools
OpenMarketOperations
AdjustingtheDiscountRate
AdjustingtheReserveRequirementRatio
ComparisonofMonetaryPolicyToos
ImpactofTechnicalFactorsonFunds
FedContr01oftheMoneySupply
LimitationsofControllingMoneySupply
MonetaryControlActof1980
G10balMonetaryPolicy
ASingleEuroZoneMonetaryPolicy
GlobalCentralBankCoordination
Summary
QuestionsandApplications
107Chapter
MonetaryTheoryandPolicy
MonetaryTheory
PureKeynesianTheory
QuantityTheoryandtheMonetaristApproach
TheoryofRationalExpectations
WhichTheoryisCorrect？
TradeoffFacedbv山eFed
ImpactofOtherForcesontheTradeoff
EconomicIndicatorsMonitoredbytheFed
IndicatorsofEconomicGrowth
IndicatorsofInflation
HowtheFedUsesIndicators
LagsinMonetaryPolicy
AssessingtheImpactofMonetaryPolicy
ForecastingMoneySupp~Movements
ForecastingtheImpactofMonetaryPolicy
IntegratingMonetaryandFiscalPolicies
History
MonetizingtheDebt
MarketAssessmentofIntegratedPolicies
G1obalEtiectsofMonetaryPolicy
ImpactoftheDollar
ImpactofGlobalEconomicConditions
TransmissionofInterestRates
FedPolicyduringtheAsianCrisis
Summary133·QuestionsandApplications
IntegrativeProblem：FedWatching

PARTⅢ
139DebtSecurityMarkets
140Chapter
MoneyMarkets
MoneyMarketSecurities
TreasuryBills
CommercialPaper
NegotiableCertificatesofDeposit
RepurchaseAgreements
FederalFunds
Banker~Acceptances
InstitutionalUseofMoneyMarkets
valuationofMoneyMarketSecurities
ExplainingMoneyMarketPriceMovements
IndicatorsofFutureMoneyMarketSecurityPrices
RiskofMoneyMarketSecurities
MeasuringRisk
InteractionamongMoneyMarketYields
GlobalizationofMoneyMarkets
EurodollarDepositsandEuronotes
Euro-CommerciaIPaper
PerformanceofForeignMoneyMarketSecurities
Summary155-QuestionsandApplications
Problems
162Chapter
BondMarkets
BackgroundonBonds
BondYields
TreasuryandFederalAgencyBonds
TreasuryBondAuction
TradingTreasuryBonds
TreasuryBondQuotations
StrippedTreasuryBonds
Inflation-IndexedTreasuryBonds
BradyBonds
FederalAgencyBonds
MunicipalBonds
TradingandQuotations
CorporateBonds
PrivatePlacementsofCorporateBonds
CharacteristicsofCorporateBonds
TradingCorporateBonds
CorporateBondQuotations
JunkBonds
HowCorporateBondsFacilitateRestructuring
InstitutionalUseofBondMarkets
GlobalizationofBondMarkets
EurobondMarket
TaxEgects
Summary
QuestionsandApplications
182Chapter
BondValuationandRisk
BondValuationProcess
BondValuationwithaPresentValueTable
ImpactoftheDiscountRateonBondValuation
ImpactoftheTimingofPaymentsonBondValuation
ValuationofBondswithSemiannualPayments
UseofAnnultyTablesforValuation
RelationshipsBetweenCouponRate，RequiredReturn，andBondPrice
ImplicationsforFinancialInstitutions
ExplainingBondPriceMovements
FactorsThatAffecttheRisk-FreeRate

PARTⅣ
G-1Glossary
内容简介:
　　《金融市场与机构》从讨论金融市场的资金流动、利率的决定和利率结构出发，系统阐述了金融市场的运作全貌，不仅全面介绍了债务证券市场、权益证券市场、衍生证券市场，而且深入分析了各种金融工具、衍生工具的估价与风险，《金融市场与机构》还着重描述了金融机构对各类金融市场的利用及其在金融市场上所扮演的角色。《金融市场与机构》适合作为金融、经济、工商管理专业本科生、研究生和MBA“金融市场学”或“金融市场与机构”课程的教材。对于金融业的研究人员和从业人员，《金融市场与机构》也是一本难得的专业参考书。
作者简介:
　　杰夫·马杜拉（JeffMadura），美国佛罗里达亚特兰大大学金融系教授，他在《金融与数量分析》、《货币、信贷与银行》、《风险与保险》等众多一流刊物上发表了有关银行与金融市场研究方面的学术论文。杰夫·马杜拉教授因其在教学和研究方面的突出贡献而多次获奖，并曾担任商业银行、证券公司的顾问，还曾任美国南方金融协会与东方金融协会的理事以及南方金融协会会长。
目录:
PARTI
1OverviewoftheFinancial
Environment
2Chapter1
RoleofFinancialMarketsandInstitutions
OverviewofFinancialMarkets
MoneyversusCapitalMarkets
PrimaryversusSecondaryMarkets
OrganizedversusOver-the-CounterMarkets
SecuritiesTradedinFinancialMarkets
MoneyMarketSecurities
CapitalMarketSecurities
DerivativeSecurities
ValuationofSecuritiesinFinancialMarkets
MarketPricingofSecurities
MarketEfficiency
FinancialMarketRegulation
Disclosure
OtherRegulations
FinancialMarketGlobalization
RoleoftheForeignExchangeMarket
ForeignExchangeRates
RoleofFinancialInstitutionsinFinancialMarkets
RoleofDepositoryInstitutions11
RoleofNondepositoryfinancialInstitutions
ComparisonofRolesamongFinancialInstitutions
OverviewofFinancialInstitutions19
CompetitionbetweenFinancialInstitutions
ConsolidationofFinancialInstitutions
ParticipationinFinancialMarkets
GlobalExpansionbyFinancialInstitutions
30Chapter2
DeterminationofInterestRates
LoanableFundsTheory30
HouseholdDemandforLoanableFunds
BusinessDemandforLoanableFunds
GovernmentDemandforLoanableFunds
ForeignDemandforLoanableFunds
AggregateDemandforLoanableFund~
SupplyofLoanableFunds34
EquilibriumInterestRate36
EconomicForcesThatAffectInterestRates
ImpactofEconomicGrowthonInterestRates
ImpactofInflationonInterestRates39
ImpactoftheMoneySupplyonInterestRates
ImpactoftheBudgetDeficitonInterestRates
ImpactofForeignFlowsofFundsonInterestRates
SummaryofForcesThatAffectInterestRates
EvaluationofInterestRatesoverTime
ForecastingInterestRates
53Chapter
StructureofInterestRates
CharacteristicsofDebtSecuritiesThatCauseTheirYields　toVary
Credit(Default)Risk
Liquidity
TaxStatus
TermtoMaturity
SpecialProvisions
ExplainingActualYieldDifferentials
YieldDifferentialsofMoneyMarketSecurities
YieldDifferentialsofCapitalMarketSecurities
EstimatingtheAppropriateYield
ACloserLookattheTermStructure
PureExpectationsTheory
LiquidityPremiumTheory
SegmentedMarketsTheory
ResearchonTermStructureTheories
IntegratingtheTheoriesoftheTermStructure
UsesoftheTermStructure
ImpactofDebtManagementonTermStructure
ImpactofSeptember11ontheTermStructure
HistoricalReviewoftheTermStructure
InternationalStructureofInterestRates
IntegrativeProblem:InterestRateForecastsandInvestment　Decisions

PARTII
85TheFedandMonetaryPolicy
86Chapter4
FunctionsoftheFed
OrganizationoftheFed
FederalReserveDistrictBanks
MemberBanks
BoardofGovernors
FederalOpenMarketCommittee(FOMC)
AdvisoryCommittees
IntegrationofFederaIReserveComponents
MonetaryPolicyTools
OpenMarketOperations
AdjustingtheDiscountRate
AdjustingtheReserveRequirementRatio
ComparisonofMonetaryPolicyToos
ImpactofTechnicalFactorsonFunds
FedContr01oftheMoneySupply
LimitationsofControllingMoneySupply
MonetaryControlActof1980
G10balMonetaryPolicy
ASingleEuroZoneMonetaryPolicy
GlobalCentralBankCoordination
Summary
QuestionsandApplications
107Chapter
MonetaryTheoryandPolicy
MonetaryTheory
PureKeynesianTheory
QuantityTheoryandtheMonetaristApproach
TheoryofRationalExpectations
WhichTheoryisCorrect？
TradeoffFacedbv山eFed
ImpactofOtherForcesontheTradeoff
EconomicIndicatorsMonitoredbytheFed
IndicatorsofEconomicGrowth
IndicatorsofInflation
HowtheFedUsesIndicators
LagsinMonetaryPolicy
AssessingtheImpactofMonetaryPolicy
ForecastingMoneySupp~Movements
ForecastingtheImpactofMonetaryPolicy
IntegratingMonetaryandFiscalPolicies
History
MonetizingtheDebt
MarketAssessmentofIntegratedPolicies
G1obalEtiectsofMonetaryPolicy
ImpactoftheDollar
ImpactofGlobalEconomicConditions
TransmissionofInterestRates
FedPolicyduringtheAsianCrisis
Summary133·QuestionsandApplications
IntegrativeProblem：FedWatching

PARTⅢ
139DebtSecurityMarkets
140Chapter
MoneyMarkets
MoneyMarketSecurities
TreasuryBills
CommercialPaper
NegotiableCertificatesofDeposit
RepurchaseAgreements
FederalFunds
Banker~Acceptances
InstitutionalUseofMoneyMarkets
valuationofMoneyMarketSecurities
ExplainingMoneyMarketPriceMovements
IndicatorsofFutureMoneyMarketSecurityPrices
RiskofMoneyMarketSecurities
MeasuringRisk
InteractionamongMoneyMarketYields
GlobalizationofMoneyMarkets
EurodollarDepositsandEuronotes
Euro-CommerciaIPaper
PerformanceofForeignMoneyMarketSecurities
Summary155-QuestionsandApplications
Problems
162Chapter
BondMarkets
BackgroundonBonds
BondYields
TreasuryandFederalAgencyBonds
TreasuryBondAuction
TradingTreasuryBonds
TreasuryBondQuotations
StrippedTreasuryBonds
Inflation-IndexedTreasuryBonds
BradyBonds
FederalAgencyBonds
MunicipalBonds
TradingandQuotations
CorporateBonds
PrivatePlacementsofCorporateBonds
CharacteristicsofCorporateBonds
TradingCorporateBonds
CorporateBondQuotations
JunkBonds
HowCorporateBondsFacilitateRestructuring
InstitutionalUseofBondMarkets
GlobalizationofBondMarkets
EurobondMarket
TaxEgects
Summary
QuestionsandApplications
182Chapter
BondValuationandRisk
BondValuationProcess
BondValuationwithaPresentValueTable
ImpactoftheDiscountRateonBondValuation
ImpactoftheTimingofPaymentsonBondValuation
ValuationofBondswithSemiannualPayments
UseofAnnultyTablesforValuation
RelationshipsBetweenCouponRate，RequiredReturn，andBondPrice
ImplicationsforFinancialInstitutions
ExplainingBondPriceMovements
FactorsThatAffecttheRisk-FreeRate

PARTⅣ
G-1Glossary

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金融市场与机构

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