LEADER 02978nam 2200469 450 001 9910720093103321 005 20230801215536.0 010 $a9789811982699$b(electronic bk.) 010 $z9789811982682 024 7 $a10.1007/978-981-19-8269-9 035 $a(MiAaPQ)EBC7242409 035 $a(Au-PeEL)EBL7242409 035 $a(DE-He213)978-981-19-8269-9 035 $a(OCoLC)1378659333 035 $a(EXLCZ)9926525493200041 100 $a20230801d2023 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aFundamental problems and solutions in finance /$fZhiqiang Zhang 205 $a1st ed. 2023. 210 1$aSingapore :$cSpringer,$d[2023] 210 4$dİ2023 215 $a1 online resource (435 pages) 225 1 $aContributions to Finance and Accounting,$x2730-6046 311 08$aPrint version: Zhang, Zhiqiang Fundamental Problems and Solutions in Finance Singapore : Springer,c2023 9789811982682 320 $aIncludes bibliographical references. 327 $aAsset Valuation -- Finance and its Fundamental Problems -- Discounting and Bond Valuation -- Stock and Equity Valuation: Where Discounting Does Not Work -- Asset Pricing -- Option Pricing and Valuation of Contingent Cash Flow -- Certainty Equivalent, Risk Premium and Asset Pricing -- Debt/Loan Risk, Bankruptcy Cost and Debt/Loan Pricing -- Capital Asset Pricing: An Easy and Unified Solution -- Leverage and Risks -- Tax Shield, Bankruptcy Cost and Optimal Capital Structure -- Some Extensive Discussions of ZZ Leverage Model -- Bankruptcy Probability and Firm Life Expectancy. 330 $aThis book provides innovative solutions to fundamental problems in finance, such as the valuation of bond and equity, the pricing of debt, equity and total asset, the determination of optimal capital structure, etc., which are unsolved or poor-solved so far. The solutions in this book all have the following features: Based on essential assumptions in line with reality, the final solutions are analytical solutions with closed-form models, the forms and variables of the models are determined by strict and objective logic processes rather than chosen or presumed subjectively, such as the new growth model for stock valuation, the new CAPM accounting for total risk rather than only systematic risk, the real solution to optimal capital structure based on the trade-off between tax shield and bankruptcy cost. In addition, these basic solutions or models are adjusted easily to various application scenarios. 410 0$aContributions to Finance and Accounting,$x2730-6046 606 $aFinance 615 0$aFinance. 676 $a332 700 $aZhang$b Zhiqiang$f1915-2005,$01378768 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 912 $a9910720093103321 996 $aFundamental problems and solutions in finance$93417695 997 $aUNINA