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Fin Mkts Portfolio Mgmt (2006) 20:361362
DOI 10.1007/s11408-006-0024-4
BOOK REVIEW
Published online: 26 July 2006 Swiss Society for Financial Market Research 2006
This book is a comprehensive, self-contained overview of the eld of alternative risk transfer (ART) and structured nance. I recommend this book to any practitioner dealing with structured nance and insurance for non-nancial rms.
The book is based on an MBA course the author teaches at the University of Chicagos Graduate School of Business. Thus, its addressed audience is not nancial engineers, but its intention is to connect corporate nance with risk-management practice and structured nance. The entire book contains a large quantity of real-world examples, which amplify its usefulness for anyone interested in understanding the applicability of structured nance for alternative risk transfer.
Culps book is structured in ve parts of which the rst four are written by the author. The last part consists of nine chapters contributed by expert practitioners in the eld.
The rst part covers Integrated Risk and Capital Management and summarizes the theoretical fundamentals for the later parts. In the beginning, fundamental concepts of corporate nance and an introduction to risk...