Financial Innovation Philip Molyneux and Nidal Shamroukh Over the past twenty years there has been a massive increase in the development of new financial instruments, many of which have been off-balance-sheet activities. These instruments have become increasingly complex, placing higher demand on both the purchasers and the creators of such instruments. The risks involved and the penalties paid by those who have not adequately understood these products are well known. This book discusses in detail, through a blend of theory and empirical research, the processes of innovation and the diffusion...

Advanced Credit Analysis presents the latest and most advanced modelling techniques in the theory and practice of credit risk pricing and management.
The book stresses the logic of theoretical models from the structural and the reduced-form kind, their applications and extensions. It shows the mathematical models that help determine optimal collateralisation and marking-to-market policies. It looks at modern credit risk management tools and the current structuring techniques available with credit derivatives.