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ECON 3420 Manuscript 6a
Course: ECON 3420, Spring 2011School: The Chinese University...
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The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
1Mergers and Acquisitions (M&A)"If the target has agency problems, why not the acquirer?"M &A = Compa11y A (the acquirer) acquires asignificant proportion o f t he shares o fCon1pany B (the target) so that the control andmanagement o f C ompany B sh
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
ECO 3420 Financial EconomicsFinal Examination (2010-11 Term 1) (Closed-Book)Always explain your answer clearly and completely. Credits are given to concise andwell-presented answers. Provide diagrams wherever appropriate.Time allowed = 90 minutes. Ans
The Chinese University of Hong Kong - ECON - 3420
ECO 3420B Financial EconomicsFinal Examination (2010-11 Term 2) (Closed-Book)Always explain your answer clearly and completely. Credits are given to concise andwell-presented answers. Provide diagrams wherever appropriate.Time allowed = 90 minutes. An
The Chinese University of Hong Kong - ECON - 3420
ECO 3420A Financial Economics - AnswersMidterm Quiz (2011-12 Term 1) (Closed-Book)Time allowed = 40 minutes. Answer all eight questions.Section 1 Multiple Choice (Eleven questions, 5 marks each. Choose the best optionand indicate it in the space provi
The Chinese University of Hong Kong - ECON - 3420
1. Risk:A<B<CMean return:A<B<CAsset A has the lowest risk. It is because the bond is issued by the Chinesegovernment. The probability that the Chinese government goes bankrupt is very low.Even if the government does not have sufficient money to repa
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A Financial Economics2010-2011 Term 1Discussion 2: Capital Asset Pricing Model (CAPM)1.Recall the PV rule of investment decision. Extend that rule to investment decisionsunder risk, in the light of the CAPM.The PV rule for investment decisi
The Chinese University of Hong Kong - ECON - 3420
DiscussionReport1.What do you expect to happen to stock price if some good news about futureearnings breaks out (for example, a drug company has found a new drugsuccessful in curing certain disease)? Trace the actions of the traders after thenews. Wh
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A Financial Economics2010-2011 Term 1Discussion 4: Efficient Market Hypothesis (EMH) Evidence (I)1.Setting aside the technical elements of the volatility test, can you present in commonsense terms why a market that is too volatile in the pri
The Chinese University of Hong Kong - ECON - 3420
Financial Economics Discussion Question 6 918th October, 2010Q6:General Theory suggests stock prices are able to move far away from thefundamentals. Due to the advances in technology of communication, nowadays, thistheory is increasingly relevant. Th
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A Financial Economics2010-2011 Term 1Discussion 6: Corporate Finance (I)1.Imagine a world of certainty. Suppose you own the copyright of a book. You arethinking of starting a company to publish your book. Because of complete certainty,the f
The Chinese University of Hong Kong - ECON - 3420
5.)Asweknow,manysmallfirmsalwaysborrowmoneyfrombankstocontinuetheirbusiness.Asbankswouldaskforcollateralingrantingloanandsmallfirmdoesnothaveenoughmarketableassets,manysmallbusinessownersfrequentlyusetheirownassetswhichmostofthemaretheirhousingtobethec
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A Financial Economics2010-2011 Term 1Discussion 8: Mergers and Acquisitions (M&A)1.What features of an M&A would suggest that acquirer shareholders would likelygain after the acquisition.One feature of M&A that shareholders will likely gain
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A (2011-12 Term 1)Discussion Report [Group 1]Name: Sin Leong HangSID: 11550025021.Risk: C > B > AA is a bond issued by the Hong Kong government. Bonds, in particular sovereignbonds, are considered to be low-risk investment vehicles, compar
The Chinese University of Hong Kong - ECON - 3420
ECON 3420 Financial EconomicsSample Mid-term Examination (2011-12 Term 1) (Closed-Book)Answer Guide1.(a) What is the major difference between risky arbitrage and riskless arbitrage?(b) Suppose the market cap of a company is $50 million. This company
The Chinese University of Hong Kong - ECON - 3420
ECON 3420 Financial EconomicsSample Mid-term Examination (2011-12 Term 1) (Closed-Book)Always explain your answer clearly and completely. Credits are given to concise andwell-presented answers. Provide diagrams wherever appropriate.Time allowed = 70 m
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 1Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1Lecture NotesGo tohttp:/www.math.cuhk.edu.hk/jwongUser Name: mat
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 2Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1L INEAR E QUATIONS AND M ATRICES1. Linear Systems2. Matrices3. D
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 1cDr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1L INEAR E QUATIONS AND M ATRICES1. Linear Sy
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 4Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1S OLVING THE L INEAR S YSTEMSGaussian Elimination and LU Factoriza
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 5Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1E LEMENTARY M ATRICESLEMENTARYM ATRICES2We have seen that any m
The Chinese University of Hong Kong - MATH - 2510
Markov ChainDr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsFall, 2010Produced by Jeff Chak-Fu WONG1A PPLICATIONS TO M ARKOV C HAINSPPLICATIONS TOM ARKOV C HAINS2What
The Chinese University of Hong Kong - MATH - 2510
Partitioned MatrixDr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1M ATRIX O PERATIONS : PAR TITIONINGATRIXO PERATIONS : PARTITI
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 6Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1D ETERMINANTS1. Denition and Properties2. Cofactor Expansion and
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 7Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1R EAL V ECTOR S PACES1. Vector Spaces2. Subs
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 9Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1R EAL V ECTOR S PACES1. Vector Spaces2. Subs
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 10Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1R EAL V ECTOR S PACES1. Vector Spaces2. Sub
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 11Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1R EAL V ECTOR S PACES1. Vector Spaces2. Sub
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 12Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1 Matrix Transformations Linear Transformatio
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 13Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1R EAL V ECTOR S PACES1. Coordinates and Chan
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 15Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1D OT P RODUCT ON RnWe shall now dene the not
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 16Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsFall, 2010Produced by Jeff Chak-Fu WONG1O R THONORMAL B ASES IN RnRTHONORMALB ASES IN
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 17Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1O R THOGONAL C OMPLEMENTSRTHOGONALC OMPLEME
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 18Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1A PPLICATIONS OF R EAL V ECTOR S PACES - QR-F
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 19Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1E IGNEVALUES , E IGENVECTORS , AND D IAGONALI
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 20Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1E IGNEVALUES , E IGENVECTORS , AND D IAGONALI
The Chinese University of Hong Kong - MATH - 2510
THE CHINESE UNIVERSITY OF HONG KONGDepartment of MathematicsMATH2510 Linear Algebra and Applications (Winter 2011)Homework 1Due Date: 28th January, 2011Name:Student No.:Class:Final Result:I acknowledge that I am aware of University policy and reg
The Chinese University of Hong Kong - MATH - 2510
THE CHINESE UNIVERSITY OF HONG KONGDepartment of MathematicsMATH2510 Linear Algebra and Applications (Winter 2011)Homework 2Due Date: 18th February, 2011Name:Student No.:Class:Final Result:I acknowledge that I am aware of University policy and re
The Chinese University of Hong Kong - MATH - 2510
THE CHINESE UNIVERSITY OF HONG KONGDepartment of MathematicsMATH2510 Linear Algebra and Applications (Winter 2011)Homework 3Due Date: 25th February, 2011Name:Student No.:Class:Final Result:I acknowledge that I am aware of University policy and re
The Chinese University of Hong Kong - MATH - 2510
THE CHINESE UNIVERSITY OF HONG KONGDepartment of MathematicsMATH2510 Linear Algebra and Applications (Winter 2011)Homework 4Due Date: 25th March, 2011Name:Student No.:Class:Final Result:I acknowledge that I am aware of University policy and regul
The Chinese University of Hong Kong - MATH - 2510
THE CHINESE UNIVERSITY OF HONG KONGDepartment of MathematicsMAT2310 Linear Algebra and Applications (Winter 2011)Homework 5Due Date: 13th April 2011Name:Student No.:Class:Final Result:I acknowledge that I am aware of University policy and regulat
The Chinese University of Hong Kong - MATH - 2510
THE CHINESE UNIVERSITY OF HONG KONGDepartment of MathematicsMAT2510 Linear Algebra and Applications (Winter 2011)Homework 6Name:Student No.:Class:Final Result:I acknowledge that I am aware of University policy and regulations on honesty in academi
The Chinese University of Hong Kong - MATH - 2510
The Chinese University of Hong Kong - MATH - 2510
~-Jl ( # ~Jl) Page 1 o f 3w~ ' f :X. A ~T he C hinese U niversity o f H ong K ong-=- 00A-=- 0.i-0 iL-+ &Ji&fflfirr1i l'll'Il!EPCopyright ReservedJ:. ~ 1JUt EI ;If t~C ourse Examination 1st Term, 200JL - 200~;f'j- EI .~&.-t ~Jfj.Course Cod
The Chinese University of Hong Kong - MATH - 2510
The Chinese University of Hong Kong - MATH - 2510
The Chinese University of Hong Kong - MATH - 2510
The Chinese University of Hong Kong - MATH - 2510
The Chinese University of Hong Kong - FINA - 4110
Faculty of Business AdministrationThe Chinese University of Hong KongOPTIONS AND FUTURES(Fin4110A/B, First Term, 2011-2012)Section:Time:Venue:Fin4110ATh 14:30-17:15pmLSK-LT7Instructor:Office Hour:T.A.:Fin4110BWe 14:30-17:15TYW-LTProf. H. Z
The Chinese University of Hong Kong - FINA - 4110
IntroductionChapter 11The Nature of DerivativesA derivative is an instrument whose valuedepends on the values of other morebasic underlying variables2Examples of Derivatives Futures Contracts Forward Contracts Swaps Options3Futures Contracts
The Chinese University of Hong Kong - FINA - 4110
Mechanics of FuturesMarketsChapter 21Futures ContractsAvailable on a wide range of underlyingsExchange tradedSpecifications need to be defined:What can be delivered,Where it can be delivered, &When it can be deliveredSettled daily2MarginsA m
The Chinese University of Hong Kong - FINA - 4110
Hedging Strategies UsingFuturesChapter 31Long & Short HedgesA long futures hedge is appropriate whenyou know you will purchase an asset inthe future and want to lock in the priceA short futures hedge is appropriatewhen you know you will sell an a
The Chinese University of Hong Kong - FINA - 4110
Interest RatesChapter 41Types of RatesTreasury ratesLIBOR ratesRepo rates2Measuring Interest RatesThe compounding frequency usedfor an interest rate is the unit ofmeasurementThe difference between quarterlyand annual compounding isanalogous
The Chinese University of Hong Kong - FINA - 4110
Determination of Forwardand Futures PricesChapter 51Consumption vs Investment AssetsInvestment assets are assets held bysignificant numbers of people purely forinvestment purposes (Examples: gold,silver)Consumption assets are assets heldprimaril
The Chinese University of Hong Kong - FINA - 4110
SwapsChapter 71Nature of SwapsA swap is an agreement toexchange cash flows at specifiedfuture times according to certainspecified rules2An Example of a Plain VanillaInterest Rate SwapAn agreement by Microsoft to receive6-month LIBOR & pay a fi