投資學(xué)精要

內(nèi)容概要

本書由美國三位著名的金融學(xué)教授博迪、凱恩、馬庫斯撰寫，是美國商學(xué)院和管理學(xué)院的首選教材，在世界各國都有很大的影響，被廣泛采用。本書詳細講解了投資領(lǐng)域中的風(fēng)險組織理論、資本資產(chǎn)定價模型、套利定價理論、市場有效性、證券評估、衍生證券等重要內(nèi)容。本書觀點權(quán)威，闡述詳盡，結(jié)構(gòu)清楚，設(shè)計獨特，語言生動活潑，學(xué)生易于理解，內(nèi)容上注重理論與實踐的結(jié)合。
本書適合作為金融專業(yè)高年級本科生、研究生、MBA教材，也可供金融領(lǐng)域的研究人員，從業(yè)人員參考。

作者簡介

作者：（美國）博迪（Zvi Bodie） （美國）凱恩（Alex Kane） （美國）馬庫斯（Alan J. Marcus）

書籍目錄

第1部分投資要素
第1章投資：背景與要點
第2章資產(chǎn)類別與金融工具
第3章證券市場
第4章共同基金和其他投資公司
第2部分投資組合理論
第5章風(fēng)險與回報：歷史與序幕
第6章有效的分散化
第7章資本資產(chǎn)定價模型與套利定價理論
第8章有效市場假說
第9章行為金融與技術(shù)分析
第3部分債務(wù)證券
第10章債券的價格與收益
第11章債券資產(chǎn)組合的管理
第4部分證券分析
第12章宏觀經(jīng)濟分析與行業(yè)分析
第13章股權(quán)估價
第14章財務(wù)報表分析
第5部分衍生市場
第15章期權(quán)市場
第16章期權(quán)定價
第17章期貨市場與風(fēng)險管理
第6部分積極的資產(chǎn)組合管理
第19章全球化與國際投資
第21章稅收、通貨膨脹與投資戰(zhàn)略
附錄A
附錄B

章節(jié)摘錄

版權(quán)頁：插圖：The material wealth of a society is ultimately determined by the productive capacity of itseconomy, that is, the goods and services its members can create. This capacity is a functionof the real assets of the economy: the land, buildings, equipment, and knowledge that can beused to produce goods and services.   In contrast to such real assets are financial asset. such as stocks and bonds. Such securi-ties are no more than sheets of paper or, more likely, computer entries and do not contributedirectly to the productive capacity of the economy. Instead, these assets are the means by whichindividuals in well-developed economies hold their claims on real assets. Financial assets areclaims to the income generated by real assets （or claims on income from the government）.If we cannot own our own auto plant （a real asset）, we can still buy shares in Hondaor Toyota （financial assets） and, thereby, share in the income derived from the production ofautomobiles.   While real assets generate net income to the economy, financial assets simply define theallocation of income or wealth among investors. Individuals can choose between consumingtheir wealth today or investing for the future. If they choose to invest, they may place theirwealth in financial assets by purchasing various securities. When investors buy these securi-ties from companies, the firms use the money so raised to pay for real assets, such as plant,equipment, technology, or inventory. So investors' returns on securities ultimately come fromthe income produced by the real assets that were financed by the issuance of those securities.The distinction between real and financial assets is apparent when we compare the bal-ance sheet of U.S. households, shown in Table 1.1, with the composition of national wealthin the United States, shown in Table 1.2. Household wealth includes financial assets suchas bank accounts, corporate stock, or bonds. However, these securities, which are financialassets of households, are liabilities of the issuers of the securities. For example, a bond thatyou treat as an asset because it gives you a claim on interest income and repayment of prin-cipal from Toyota is a liability of Toyota, which is obligated to make these payments to you.Your asset is Toyota's liability. Therefore, when we aggregate over all balance sheets, theseclaims cancel out, leaving only real assets as the net wealth of the economy. National wealthconsists of structures, equipment, inventories of goods, and land.You might wonder why real assets held by households in Table 1.1 amount to $26,395 billion, while total real assetsin the domestic economy （Table 1.2） are far larger, at $40,925 billion One major reason is that real assets held byfirms, for example, property, plant, and equipment, are included as financial assets of the household sector, specifitally through the value of corporate equity and other stock market investments. Another reason is that equity andstock investments in Table I, 1 are measured by market value, whereas plant and equipment in Table 1 2 are valuedat replacement cost.

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《投資學(xué)精要(第8版)(英文版)》：第一套根據(jù)中國工商管理本科大綱要求、教學(xué)實踐進行詳細精簡的本科英文教材，適合中國國情及國際化雙軌要求的雙語教學(xué)英文教材，為中國應(yīng)用型商科教育發(fā)展奠定教學(xué)模式及基礎(chǔ)的英文版商科教材。

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