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The book presents models for the pricing of financial assets such as stocks, bonds, and options. The models are formulated and analyzed using concepts and techniques from mathematics and probability theory. It presents important classic models and some recent 'state-of-the-art' models that outperform the classics

"Report . of the Financial Asset Management Task Force of the President's Private Sector Survey on Cost Control"--Prelim. ; Also known as: The Grace report. ; "Approved by the subcommittee for the full executive committee, spring-fall 1983." ; Mode of access: Internet.

Cover -- CONTENTS -- ABSTRACT -- I. INTRODUCTION -- II. LITERATURE REVIEW -- III. METHODOLOGY -- A. A Simple Economic Model -- B. Financial Assets and Sovereign Risk -- C. Financial Assets and Probability of Debt Distress -- IV. DATA -- A. Sample -- B. Descriptive Statistics -- V. RESULTS -- A. Financial Assets and Sovereign Spreads -- B. Robustness of the Results for Sovereign Spreads -- C. Financial Assets and Probability of Debt Distress -- D. Liquidity versus Solvency -- E. Robustness of the Results for the Probability of Debt Distress -- VI. ILLUSTRATIVE SIMULATIONS -- VII. CONCLUDING REMARKS -- VIII. REFERENCES -- APPENDIX -- A. Country Coverage -- B. Control Variables -- C. Asset Data-Government Balance Sheets -- D. Asset Data-WEO -- E. Quantile Regressions-Baseline Parameters -- F. Quantile Regressions-Robustness -- G. Panel OLS and Probit Regressions-Robustness -- TABLES -- Table 1. Net Debt and Baseline Controls: Descriptive Statistics, 1980-2015 -- Table 2. Asset Holdings by Category and Country Group, 1980-2015 (Percent of GDP) -- Table 3. Asset Holdings by Category and Instrument (Percent of GDP) -- Table 4. Pairwise Correlations, 1980-2015 -- Table 5. Triggers of Debt Crises in AMs and EMs, 1980-2015 -- Table 6. Panel OLS Fixed Effect Regressions (Dep. Variable: Bond Spreads, in bps) -- Table 7. Pooled Probit (Dependent Variable: Probability of Debt Distress) -- Table 8. Pooled Probit (Dep. Variable: Probability of Liquidity and Solvency Crises) -- FIGURES -- Figure 1. Description of Financial Asset Categories -- Figure 2. Asset Holdings Across Government Units and Asset Instruments -- Figure 3. Growth, Assets, Debt and Spreads during the GFC (Median) -- Figure 4. Commodity Prices and Equity Value of Commodity-Producing Firms -- Figure 5. Dynamics Around Debt Distress Episodes in EMs (Median).

According to the author, mainland China still has a longway to go in developing financial markets. Most mainland China people have only a limited knowledge of financial markets. Also, only a few financial instruments are available on the mainland. The article describes the changes in scale and structure of mainland China's financial assets, factors affecting the development of the financial market and implications for mainland China's economy, and the prospects for modernization and diversification of personal financial assets. (DÜI-Sen)

In recent years Pakistan has moved to liberalise its financial
and capital markets. Consequently the reforms will place heavy demand on
the instruments of monetary policy to regulate the working of financial
markets. Interest rate policy as a component of monetary policy not only
determines the allocation of resources between assets but also within
each class of assets. Given the scant research on intra-asset response
to intertemporal interest rate movements, the present paper fills the
gap by studying the determinants of financial assets and quantifies
intra-asset substitutability within a system-wide portfolio framework.
Using a simplified version of Brainard and Tobin (1968) model, we
explain the asset holdings in terms of wealth and interest rates. We
test the model on quarterly holdings of five assets, i.e., saving and
fixed deposits, khas deposits, national deposit certificates and defence
saving certificates. Asset substitutability is ascertained by single
equation OLS, FIML (Iterative 3SLS) and restricted FIML estimation
techniques. The system-wide restricted model performs according to a
priori expectations. Own interest rate effect is positive and
significant in three of the four equations. Five of the six
off-diagonals are negative, and three are statistically significant.
Saving and fixed deposits exhibit weak complementarity. Khas deposit and
national deposit certificates are strong substitutes. The model is also
used to decompose the change in portfolio share due to wealth, interest
rate and residual components.