Introduction

Martin Auer
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Martin Auer: Raiffeisen Bank International

Chapter 1 in Hands-On Value-at-Risk and Expected Shortfall, 2018, pp 1-2 from Springer

Abstract: Abstract Financial markets let people trade promises of future payments. These payment promises are called financial assets. asset Prominent examples are bonds or company stocks. A bond bond is a way to borrow money, and it promises its buyer a future debt repayment with interest. Stock stock is used to raise capital and promises its holder future dividend payments. In addition to those, many other types of assets exist, but at their core they all are tradable contractual claims on future cash flows. Supply and demand determine the prices at which to buy or sell them—the prices at which to enter positions. position

Keywords: Future Payments; Risk-based Measures; Future Asset Prices; Time Series Behavior; Risk-neutral Pricing (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1007/978-3-319-72320-4_1

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