Duration: Its Development and Use in Bond Portfolio Management

This survey article reviews the historical development of duration and its uses in (1) summarizing in one variable the cash flow characteristics of bonds, (2) approximating the price sensitivity of bonds, and (3) developing bond portfolio strategies, particularly those that attempt to immunize again...

Ausführliche Beschreibung

Bibliographische Detailangaben

Veröffentlicht in:	Financial analysts journal 1983-07, Vol.39 (4), p.15-35
Hauptverfasser:	Bierwag, G. O., Kaufman, George G., Toevs, Alden
Format:	Artikel
Sprache:	eng
Schlagworte:	Bond portfolios Financial analysis Financial instruments Financial portfolios Futures contracts Immunization Interest rate risk Interest rates Investment horizon Investors Portfolio management Rates of return Risk Stochastic processes Theory
Online-Zugang:	Volltext
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