TAILIEUCHUNG - Ebook Financial markets and institutions (8th edition): Part 2

(BQ) Part 2 book "Financial markets and institutions" has contents: The stock market, the mortgage markets, the foreign exchange market, the international financial system, banking and the management of financial institutions, financial regulation, the mutual fund industry,.and other contents. | Chapter 13 The Stock Market Preview In the last chapter we identified the capital they had returned to record highs before ­alling f m ­ arkets as the place where long-term securities back to 1997 levels in 2009. Since then the mar- trade. We then examined the bond market and kets have fully recovered and reached record highs. discussed how bond prices are established. In this In this chapter we look at how this important mar- chapter we continue our investigation of the capital ket works. markets by taking a close look at the stock market. We begin by discussing the markets where The market for stocks is undoubtedly the one that stocks trade. We then examine the fundamental receives the most attention and scrutiny. Great theories that underlie the valuation of stocks. These fortunes are made and lost as investors attempt to theories are critical to an understanding of the anticipate the market’s ups and downs. We have forces that cause the value of stocks to rise and fall witnessed an unprecedented period of volatility over minute by minute and day by day. We will learn that the last decade. Stock indexes hit record highs in determining a value for a common stock is very dif- the late 1990s, largely led by technology compa- ficult and that it is this difficulty that leads to so nies, and then fell precipitously in 2000. By 2007 much volatility in the stock markets. 297 298 Part 5  Financial Markets Investing in Stocks A share of stock in a firm represents ownership. A stockholder owns a percentage interest in a firm, consistent with the percentage of outstanding stock held. Investors can earn a return from stock in one of two ways. Either the price of the stock rises over time or the firm pays the stockholder dividends. Frequently, investors earn a return from both sources. Stock is riskier than bonds because stockholders have a lower priority than bondholders when the firm is in trouble, dividends are less assured, and stock .

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• Financial markets and institutions
• Financial markets
• The stock market
• The mortgage markets
• The international financial system
• Financial regulation
• Financial institutions
• Lecture Financial markets and institutions
• Financial institutions markets
• Risks at financial institutions
• Market risk
• Capital markets
• Money markets
• Derivative securities markets
• Futures markets
• Savings institutions
• Credit unions
• Money market yields
• Bond markets
• Municipal bonds
• Mortgage markets
• Primary mortgage market
• Stock markets
• Common stock
• Foreign exchange markets
• Foreign exchange
• Commercial banks
• Financial statements
• Interest rate fundamentals
• Interest rates
• Security valuation
• Federal reserve system
• Monetary policy
• Commercial bank liabilities
• Regulation of commercial banks
• Deposit guarantee funds
• Insurance companies
• Life insurance companies
• Securities firms
• Investment banks
• Mutual funds
• Hedge funds
• Pension funds
• Private pension funds
• Managing credit risk
• Balance sheet
• Managing liquidity risk
• Managing interest rate risk
• Insolvency risk
• Managing risk
• Loan sales
• Managing risk off the balance sheet
• Interest rates change
• Financial institutions exist
• Central banking