{"product_id":"managing-credit-risk-isbn-9780470118726","title":"Managing Credit Risk","description":"\u003ci\u003eManaging Credit Risk, Second Edition\u003c\/i\u003e opens with a detailed discussion of today’s global credit markets—touching on everything from the emergence of hedge funds as major players to the growing influence of rating agencies. After gaining a firm understanding of these issues, you’ll be introduced to some of the most effective credit risk management tools, techniques, and vehicles currently available. If you need to keep up with the constant changes in the world of credit risk management, this book will show you how. \u003cp\u003eAbout the Authors xi\u003c\/p\u003e \u003cp\u003eIntroduction xv\u003c\/p\u003e \u003cp\u003eChapter 1 Credit Risk: The Great Challenge For The Global Economy 1\u003c\/p\u003e \u003cp\u003eChapter 2 Credit Culture 23\u003c\/p\u003e \u003cp\u003eChapter 3 Classic Industry Players: Banks, Savings Institutions, Insurance: Companies, Finance Companies, and Special Purpose Entities 41\u003c\/p\u003e \u003cp\u003eChapter 4 The Portfolio Managers: Investment Managers, Mutual Funds, Pension Funds, and Hedge Funds 59\u003c\/p\u003e \u003cp\u003eChapter 5 Structural Hubs: Clearinghouses, Derivative Product Companies, and Exchanges 69\u003c\/p\u003e \u003cp\u003eChapter 6 The Rating Agencies 81\u003c\/p\u003e \u003cp\u003eChapter 7 Classic Credit Analysis 103\u003c\/p\u003e \u003cp\u003eChapter 8 Asset-Based Lending and Lease Finance 117\u003c\/p\u003e \u003cp\u003eChapter 9 Introduction to Credit Risk Models 127\u003c\/p\u003e \u003cp\u003eChapter 10 Credit Risk Models Based upon Accounting Data and Market Values 139\u003c\/p\u003e \u003cp\u003eChapter 11 Corporate Credit Risk Models Based on Stock Price 181\u003c\/p\u003e \u003cp\u003eChapter 12 Consumer Finance Models 201\u003c\/p\u003e \u003cp\u003eChapter 13 Credit Models for Small Business, Real Estate, and Financial Institutions 223\u003c\/p\u003e \u003cp\u003eChapter 14 Testing and Implementation of Credit Risk Models 237\u003c\/p\u003e \u003cp\u003eChapter 15 About Corporate Default Rates 251\u003c\/p\u003e \u003cp\u003eChapter 16 Default Recovery Rates and LGD in Credit Risk Modeling and Practice 277\u003c\/p\u003e \u003cp\u003eChapter 17 Credit Risk Migration 311\u003c\/p\u003e \u003cp\u003eChapter 18 Introduction to Portfolio Approaches 325\u003c\/p\u003e \u003cp\u003eChapter 19 Economic Capital and Capital Allocation 349\u003c\/p\u003e \u003cp\u003eChapter 20 Application of Portfolio Approaches 367\u003c\/p\u003e \u003cp\u003eChapter 21 Credit Derivatives 411\u003c\/p\u003e \u003cp\u003eChapter 22 Counterparty Risk 437\u003c\/p\u003e \u003cp\u003eChapter 23 Country Risk Models 455\u003c\/p\u003e \u003cp\u003eChapter 24 Structured Finance 475\u003c\/p\u003e \u003cp\u003eChapter 25 New Markets, New Players, New Ways to Play 509\u003c\/p\u003e \u003cp\u003eChapter 26 Market Chaos and a Reversion to the Mean: The Rediscovery of Culture as a Critical Risk Management Tool 539\u003c\/p\u003e \u003cp\u003eNotes 553\u003c\/p\u003e \u003cp\u003eAppendix 569\u003c\/p\u003e \u003cp\u003eIndex 607\u003c\/p\u003e \t \u003cp\u003e\u003cb\u003eJOHN B. CAOUETTE\u003c\/b\u003e is the former vice chairman of MBIA Insurance Corporation and is currently Chairman of Channel Capital Group, a European-based credit derivative products company. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eEDWARD I. ALTMAN, \u003csmall\u003ePHD\u003c\/small\u003e, MBA,\u003c\/b\u003e is the Max L. Heine Professor of Finance at the Stern School of Business, New York University. Previously, he chaired the Stern School's MBA Program for twelve years. He has been acclaimed as the world's leading academic on credit risk and distressed and high-yield debt for most of his forty-year career. \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePAUL NARAYANAN\u003c\/b\u003e is Director of Credit Portfolio Analytics at American International Group, Inc. He has been involved with credit risk management for more than two decades and in the development and deployment of analytical solutions for credit issues. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eROBERT W. J. NIMMO\u003c\/b\u003e is the former group risk director of Barclays PLC, where he was responsible for all the risk management activities of the group covering credit, market, operational risk, and compliance. He was also the chief risk officer for Wachovia Corporation (2000–2001) and for Westpac Banking Corporation (1993–2000).   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eI\u003c\/b\u003et would be an understatement to say that the field of finance—specifically the credit arena—has changed in the decade since the first edition of \u003ci\u003eManaging Credit Risk\u003c\/i\u003e was published. Ten years later, things look a lot different. Credit risk has grown in scope and complexity against the backdrop of global economic, political, and technological change, and there are also many more tools, much more information, and some important new players to deal with.  \u003c\/p\u003e\u003cp\u003eThat's why John Caouette, Edward Altman, Paul Narayanan, and Robert Nimmo have created \u003ci\u003eManaging Credit Risk, Second Edition\u003c\/i\u003e. Fully revised and updated to reflect the numerous developments within the discipline, this timely title combines state-of-the-art credit risk solutions with the practical perspectives of leading experts who have successfully implemented them.  \u003c\/p\u003e\u003cp\u003eWritten with the serious financial professional in mind, \u003ci\u003eManaging Credit Risk, Second Edition\u003c\/i\u003e opens with a detailed discussion of today's global credit markets—touching on everything from the emergence of hedge funds as major players to the growing influence of rating agencies. After gaining a firm understanding of these issues, you'll be introduced to some of the most effective credit risk management tools, techniques, and vehicles currently available, including: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eCredit models for small business, real estate, \t  and emerging market companies\u003c\/li\u003e \u003cli\u003eDefault recovery rates and \"loss given default\" \t  in credit risk modeling and practice\u003c\/li\u003e \u003cli\u003eCredit risk models based on accounting data \t  and market values\u003c\/li\u003e \u003cli\u003eTesting and implementation of credit risk models\u003c\/li\u003e \u003cli\u003eThe most popular forms of credit derivatives \t and approaches that can be used to analyze \t counterparty credit risk and much more\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eRounding out this discussion of credit risk management, the authors skillfully integrate emerging trends in the financial markets with the new methods mentioned. This will allow you to quickly  \u003c\/p\u003e\u003cp\u003eapply the lessons outlined throughout these pages to today's dynamic credit environment.  \u003c\/p\u003e\u003cp\u003eIn recent years, credit risk has become pervasive throughout the world. The dramatic growth in borrowing by all segments of society—from corporations and consumers to governments—clearly illustrates the scale of this credit explosion. If you need to keep up with the constant changes in the world of credit risk management, and want to improve your overall understanding of this field, then look no further than \u003ci\u003eManaging Credit Risk, Second Edition.\u003c\/i\u003e\t  \t  \u003c\/p\u003e\u003cp\u003eIt would be an understatement to say that the field of finance—specifically the credit arena—has changed in the decade since the first edition of \u003ci\u003eManaging Credit Risk\u003c\/i\u003e was published. Ten years later, things look a lot different. Credit risk has grown in scope and complexity against the backdrop of global economic, political, and technological change, and there are also many more tools, much more information, and some important new players to deal with. \u003c\/p\u003e\u003cp\u003eThat's why John Caouette, Edward Altman, Paul Narayanan, and Robert Nimmo have created \u003ci\u003eManaging Credit Risk, Second Edition\u003c\/i\u003e. Fully revised and updated to reflect the numerous developments within the discipline, this timely title combines state-of-the-art credit risk solutions with the practical perspectives of leading experts who have successfully implemented them. \u003c\/p\u003e\u003cp\u003eWritten with the serious financial professional in mind, \u003ci\u003eManaging Credit Risk, Second Edition\u003c\/i\u003e opens with a detailed discussion of today's global credit markets—touching on everything from the emergence of hedge funds as major players to the growing influence of rating agencies. After gaining a firm understanding of these issues, you'll be introduced to some of the most effective credit risk management tools, techniques, and vehicles currently available, including: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eCredit models for small business, real estate, and emerging market companies\u003c\/li\u003e \u003cli\u003eDefault recovery rates and \"loss given default\" in credit risk modeling and practice\u003c\/li\u003e \u003cli\u003eCredit risk models based on accounting data and market values\u003c\/li\u003e \u003cli\u003eTesting and implementation of credit risk models\u003c\/li\u003e \u003cli\u003eThe most popular forms of credit derivatives and approaches that can be used to analyze counterparty credit risk and much more\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eRounding out this discussion of credit risk management, the authors skillfully integrate emerging trends in the financial markets with the new methods mentioned. This will allow you to quickly apply the lessons outlined throughout these pages to today's dynamic credit environment. \u003c\/p\u003e\u003cp\u003eIn recent years, credit risk has become pervasive throughout the world. The dramatic growth in borrowing by all segments of society—from corporations and consumers to governments—clearly illustrates the scale of this credit explosion. If you need to keep up with the constant changes in the world of credit risk management, and want to improve your overall understanding of this field, then look no further than \u003ci\u003eManaging Credit Risk, Second Edition.\u003c\/i\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989564047589,"sku":"NP9780470118726","price":95.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470118726.jpg?v=1761784615","url":"https:\/\/k12savings.com\/es\/products\/managing-credit-risk-isbn-9780470118726","provider":"K12savings","version":"1.0","type":"link"}