Quantitative Methods For Finance And Investments

QRMA01 30/08/2005 12:30 PM Page i Q UANTITATIVE M ETHODS FOR F INANCE AND I NVESTMENTS QRMA01 30/08/2005 12:30 PM Page ii QRMA01 30/08/2005 12:30 PM Page iii Q UANTITATIVE M ETHODS FOR F INANCE AND I NVESTMENTS John L. Teall and Iftekhar Hasan QRMA01 30/08/2005 12:30 PM Page iv © 2002 by John L. Teall and Iftekhar Hasan Editorial Offices: 108 Cowley Road, Oxford OX4 1JF, UK Tel: +44 (0)1865 791100 Osney Mead, Oxford OX2 0EL, UK Tel: +44 (0)1865 206206 350 Main Street, Malden, MA 02148-5018, USA Tel: +1 781 388 8250 Iowa State Blackwell Publishing USA Press, a Blackwell Publishing company, 2121. State Avenue, Ames, Iowa 50014-8300, USA Tel: +1 515 292 0140 Blackwell Munksgaard, Nørre Søgade 35, PO Box 2148, Copenhagen, DK-1016, Denmark Tel: +45 77 33 33 33 Blackwell Publishing Asia, 54 University Street, Carlton, Victoria 3053, Australia Tel: +61 (0)3 9347 0300 Blackwell Verlag, Kurfürstendamm 57, 10707 Berlin, Germany Tel: +49 (0)30 32 79 060 Blackwell Publishing, 10, rue Casimir Delavigne, 75006 Paris, France Tel: +331 5310 3310 The right of the John L. Teall and Iftekhar Hasan to be identified as the Authors of this Work has been asserted in accordance with the UK Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, except as permitted by the UK Copyright, Designs and Patents Act 1988, without the prior permission of the publisher. The Blackwell Publishing logo is a trade mark of Blackwell Publishing Ltd. First published 2002 by Blackwell Publishers Ltd, a Blackwell Publishing company Libr