Books in the Foundations and Trends (R) in Finance series

Provides an overview of how liquidity is measured and of specialized issues in liquidity measurement. The book also examines what is known about cross-sectional and time-series patterns in liquidity. The authors then review how liquidity relates to the corporate finance literature.

Provides the most comprehensive review of all major research domains involving credit default swaps (CDS). CDS have been growing in importance in the global financial markets. However, their role has been hotly debated, in industry and academia, particularly since the credit crisis of 2007-2009.

Explains the models and techniques used in this literature as simply as possible, with the intent of making the literature more accessible; introduces the reader to the main strands of this literature; and explains how dynamic models can be taken to the data and be estimated with the intent to provide a practical, hands-on guide.

Puts into perspective one of the most persistent empirical phenomena in finance: equity home bias. The book provides a review of the competing measures of home bias, the explanations for the equity home bias, and lay out the implications of international under-diversification for portfolio formation and the cost of capital of companies.

Provides an updated and comprehensive review of China's financial system and compares it with financial systems in other countries. The book reviews what has worked and what has not within the markets and intermediaries in China, and further considers the effects of the recent development of China's financial system on the real economy.

Updates an earlier review by the authors. This book includes reviews of recent studies on topics that were covered in the earlier survey, and summarises research on new topics. These new topics cover a broad gamut of issues, ranging from hedge funds' use of leverage and exposure to different risks to their impact on various asset markets.

Does heterogeneity matter for asset pricing and, in particular, for risk premia? This volume provides a unified framework to better understand this large literature and to reconcile several of the seemingly inconsistent results found in some seminal papers.