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Securities Markets (MCGRAW HILL SERIES IN FINANCE),Used
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The text is divided into eight parts. Part One provides a descriptive introduction to the major types of financial claims traded in American securities markets, including Treasury, municipal,, and corporate debt and corporate stock. Part One also describes how issurers sell new issues in the primary markets through price auctions, subscription offerings, underwritten offerings and tap offerings. The analytical core of the text consists of the equilibrium valuation of common stock separated into the analysis of investor demand (portfolio theory) in Part Three and the capital asset pricing market and the efficient markets hypothesis in Part 4. Parts 5 and 6 cover the equilibrium valuation of claims with a finite lifetime. The text also includes in Parts Seven and Eight, a description of the structure of a variety of secondary markets and an analysis of the behavior of transaction prices in those markets.
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