Second Edition
By S. Kevin
The second edition of the book on Security Analysis and Portfolio Management covers all the areas relevant to the theme of investment in securities. It begins with an introduction to the investment process and the risk involved in it and then explains the different methods of security analysis such as Fundamental Analysis (including economy, industry and company analysis), Technical Analysis and Random Walk Theory (including Efficient Market Hypothesis). The valuation of securities such as shares and bonds is illustrated with examples. The securities market environment and the trading system in India are also discussed in sufficient detail.
The different phases of Portfolio Management such as portfolio analysis, portfolio selection, portfolio revision and portfolio evaluation are explained in separate chapters. Pricing theories such as Capital Asset Pricing Model (CAPM), Arbitrage Pricing Theory (APT), and Option Pricing Theory are explained with suitable examples. The book also provides an introduction to Derivative Instruments in four chapters. Each chapter is supported with examples, review questions and practice exercises to facilitate learning of the concepts and theories.
The book is intended to serve as a basic textbook for the students of finance, commerce, and management. It will be useful to the students pursuing professional courses such as chartered accountancy (CA), cost and management accountancy (CMA), and chartered financial analysis (CFA). The professionals in the field of investment will find this book of immense value in enhancing their knowledge.
New to the SECOND Edition
• Two new chapters on Arbitrage Pricing Theory (APT) and Option Pricing are introduced.
• Two new sections on MCX-SX (the new stock exchange in India) and Value at Risk (VaR) Analysis are also added.
• A Glossary of important terms has also been appended for the benefit of readers.
Contents
Preface
1. Introduction
2. Investment
3. Securities Market
4. Stock Exchanges
5. Trading System in Stock Exchanges
6. Risk
7. Fundamental Analysis: Economy Analysis
8. Industry and Company Analysis
9. Share Valuation
10. Bond Valuation
11. Technical Analysis
12. Efficient Market Theory
13. Portfolio Analysis
14. Portfolio Selection
15. Capital Asset Pricing Model (CAPM)
16. Arbitrage Pricing Theory (APT)
17. Portfolio Revision
18. Portfolio Evaluation
19. Financial Derivatives
20. Futures
21. Options
22. Option Pricing
Appendix
Glossary
Bibliography
Index
About the Author
S. KEVIN (Ph.D.) is Director and Dean of Management Studies, Bishop Jerome Institute, Kollam (Kerala). Earlier, he served as Professor of Commerce and Pro Vice Chancellor at the University of Kerala and also as the Director of TKM Institute of Management, Kollam. He has over 35 years of experience in teaching Commerce and Management courses at the postgraduate level.
His areas of specialization are financial management, security analysis and portfolio management, international finance, and derivatives. He has published several research articles in scholarly research journals such as Finance India, Economic and Political Weekly of India, Productivity, Yojana, Decision, International Journal of Management and Systems, etc. He has authored books— Security Analysis and Portfolio Management, 2nd ed., Portfolio Management, 2nd ed., Fundamentals of Financial Management, and Commodity and Financial Derivatives,2nd ed. all published by PHI Learning.
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