emu and bond market integration



Hung-gay Fung Dim Sum Bonds. The Offshore Renminbi (RMB)-Denominated Bonds Hung-gay Fung Dim Sum Bonds. The Offshore Renminbi (RMB)-Denominated Bonds Новинка

Hung-gay Fung Dim Sum Bonds. The Offshore Renminbi (RMB)-Denominated Bonds

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A comprehensive guide to understanding and assimilating into dim sum bond markets The expansive growth of the dim sum bond market in the last five years has peaked investor interest and inspired companies to seek out investing opportunities that negate China's capital controls. In a four-pronged approach, Dim Sum Bonds examines the development of the dim sum bond market and its role in China's RMB internationalization policy, characteristics of dim sum bonds and its market, investors' investment objectives and the investment performance of dim sum bonds, motivations of issuers, and underwriters' roles in the dim sum bond market. You will familiarize yourself with every aspect of the dim sum bond market from an issuer, an investor, and an underwriter's perspective. Academics, financial advisors, investment bankers, underwriters, investors, and policy makers should not be without this informative and detailed guide to the offshore market central to China's internationalization of RMB. Written by Hung-Gay Fung, Glenn Chi-Wo Ko, and Jot Yau, all of whom are experts on the dim sum bond market Explains the rapidly expanding dim sum bond market and puts readers ahead of the curve Landmark issues, Chinese banks (China Development Bank), Infrastructure, red-chip companies (Sinotruk), and multinational corporations doing business in China (McDonald’s) are discussed in detail. Covering landmark issues from a variety of Chinese and multinational corporations, Dim Sum Bonds provides must-read manual to understanding the vast opportunities of this up-and-coming market.
Gunnar Matthiesen German policy towards economic and monetary union. .. Gunnar Matthiesen German policy towards economic and monetary union. .. Новинка

Gunnar Matthiesen German policy towards economic and monetary union. ..

Thesis (M.A.) from the year 1999 in the subject Politics - International Politics - Topic: European Union, grade: very good, University of Canterbury (Department of Politics and International Relations), 44 entries in the bibliography, language: English, abstract: The purpose of this paper is to explore the German national interest in European Economic and Monetary Union. Although not ignoring economic arguments, the analysis focuses on the arguably even more important political benefits and interests. The first chapter introduces EMU from a European perspective, as the next logical step to complete the Single Market and as a source of economic advantages for EU member states. However, it is also an important vehicle for the aim of political union. Hence, in view of Germany′s traditional position in Europe, the progress EMU represents in terms of achieving European unity is a significant factor that led to the unequivocal attitude of the Kohl government favour of EMU.The absolute necessity for Germany to advance the integration process was emphasised by German unification and the resulting political impossibility to refuse EMU as international support for a unified Germany was tied to stronger European integration. In addition, the common currency has benefits for Germany′s foreign trade reliant economy which seem to outweigh the economic doubts. Nevertheless, these concerns did play a role in defining political approaches and have influenced both the opposition′s stance and ...
Russell Wild Bond Investing For Dummies Russell Wild Bond Investing For Dummies Новинка

Russell Wild Bond Investing For Dummies

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Your friendly guide to trading the bond and bond fund market Bonds and bond funds are among the safest and most reliable investments you can make to ensure an ample and dependable retirement income—if you do it right! Bond Investing For Dummies helps you do just that, with clear explanations of everything you need to know to build a diversified bond portfolio that will be there when you need it no matter what happens in the stock market. This plain-English guide clearly explains the pros and cons of investing in bonds, how they differ from stocks, and the best (and worst!) ways to select and purchase bonds for your needs. You'll get up to speed on the different bond varieties and see how to get the best prices when you sell. Covers the ups and downs of today's market, which reinforces the importance of bonds in a portfolio Explains how a radical fall in interest rates make bond investing trickier than ever Explores the historic downgrade of U.S. Treasuries and its possible effects on government bonds If you're an investor looking for a resource that helps you understand, evaluate, and incorporate bonds into your portfolio, Bond Investing For Dummies has you covered.
Patrick Brown J. An Introduction to the Bond Markets Patrick Brown J. An Introduction to the Bond Markets Новинка

Patrick Brown J. An Introduction to the Bond Markets

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This book gives an introduction to the bond markets for practitioners and new entrants who need to understand what they are, how they work and how they can be used, but do not want to be intimidated by mathematical formulae. By the end of the book readers will be able to decide whether to invest in the bond market. The mathematical formulae will be relegated to the appendices and supplemented by a companion website which allows users to enter their own bond market investments, to simulate anticipated events and see the results. Patrick Brown is well-known as Chairman of the European Bond commission (recently retired) The only bond book that does not rely heavily on mathematical formulae
Paul Waluube An Analysis of the Rice Market Integration in Uganda Paul Waluube An Analysis of the Rice Market Integration in Uganda Новинка

Paul Waluube An Analysis of the Rice Market Integration in Uganda

Master's Thesis from the year 2009 in the subject Agrarian Studies, grade: 3.5, Makerere University (College of Agriculture & Environmental Sciences), course: Master of Science in Agribusiness Management, language: English, abstract: It is crucial that formulation of market enhancing policies to improve performance hinges on a better understanding of the local market functioning. Comprehensive market performance is better understood by studying the extent of spatial market integration which in turn is affected by communication factors like telephony growth and extension services within the marketing system. Extension services are important in influencing levels of production and dissemination of trade information of both the inputs to and output from the enterprise. Unfortunately very little was known about how rice price transmission takes place. Given the importance of rice (as a food security crop & source of income) to the rural poor, many organizations have promoted it among rural farmers for improving their welfare, it was imperative that its price movements is studied to inform policy makers & implementers on the status of its spatial market integration. The primary objective of this study was to evaluate the spatial market integration of rice markets under improving communication infrastructure particularly extension services (NAADS program) and telecommunication industry growth. This study specifically evaluated the degree of spatial market integratio...
Joe Mysak Handbook for Muni-Bond Issuers Joe Mysak Handbook for Muni-Bond Issuers Новинка

Joe Mysak Handbook for Muni-Bond Issuers

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From Bloomberg, the authority on municipal bond valuation, this is the first book to give issuers (municipalities and their officers, attorneys, and other advisers) step-by-step tips on (1) lowering the cost of financing and (2) how to do it right and avoid trouble–with the press, with the market, with constituents, and with the Securities and Exchange Commission. With an insider's perspective, Joe Mysak debunks the myths and reveals thepractical realities of today's municipal bond market. Fresh and clearly written, this excellent primer on issuing municipal bonds is a key to the market that no participant should be without.
Qiuwei Wu Grid Integration of Electric Vehicles in Open Electricity Markets Qiuwei Wu Grid Integration of Electric Vehicles in Open Electricity Markets Новинка

Qiuwei Wu Grid Integration of Electric Vehicles in Open Electricity Markets

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Presenting the policy drivers, benefits and challenges for grid integration of electric vehicles (EVs) in the open electricity market environment, this book provides a comprehensive overview of existing electricity markets and demonstrates how EVs are integrated into these different markets and power systems. Unlike other texts, this book analyses EV integration in parallel with electricity market design, showing the interaction between EVs and differing electricity markets. Future regulating power market and distribution system operator (DSO) market design is covered, with up-to-date case studies and examples to help readers carry out similar projects across the world. With in-depth analysis, this book describes: the impact of EV charging and discharging on transmission and distribution networks market-driven EV congestion management techniques, for example the day-ahead tariff based congestion management scenario within electric distribution networks optimal EV charging management with the fleet operator concept and smart charging management EV battery technology, modelling and tests the use of EVs for balancing power fluctuations from renewable energy sources, looking at power system operation support, including frequency reserve, power regulation and voltage support An accessible technical book for power engineers and grid/distributed systems operators, this also serves as a reference text for researchers in the area of EVs and power systems. It provides distribution companies with the knowledge they need when facing the challenges introduced by large scale EV deployment, and demonstrates how transmission system operators (TSOs) can develop the existing system service market in order to fully utilize the potential of EV flexibility. With thorough coverage of the technologies for EV integration, this volume is informative for research professors and graduate students in power systems; it will also appeal to EV manufacturers, regulators, EV market professionals, energy providers and traders, mobility providers, EV charging station companies, and policy makers.
Mahtab Naheem The Prospects and Challenges of Bond Market Development in Bangladesh Mahtab Naheem The Prospects and Challenges of Bond Market Development in Bangladesh Новинка

Mahtab Naheem The Prospects and Challenges of Bond Market Development in Bangladesh

The development of economy of any country depends mostly on the establishment of sound, effective and efficient financial system in that country. A well-developed financial system plays an important role in accelerating economic growth by mobilizing savings and facilitating investment in an efficient manner. Financial market is composed of different markets- Money Market, Capital Market, Derivative Market etc. All the markets play an interactive role for the development of economy by formation of capital through mobilizing funds, industrialization of economy through supplying adequate funds, providing services, linking investors to the industrial entrepreneurs etc. Besides, this requires sound regulatory framework, sound and investment sensitive administrative infrastructure, fiscal supports for making their role effective for economic development. The debt market being an integral part of financial market plays a complementary role in developing economy through allocation of funds to the different deficit sectors. The debt market consists of money market, mortgage market, bond market and derivative market.
Hildy Richelson Bonds. The Unbeaten Path to Secure Investment Growth Hildy Richelson Bonds. The Unbeaten Path to Secure Investment Growth Новинка

Hildy Richelson Bonds. The Unbeaten Path to Secure Investment Growth

Updated edition of the established classic on investing in bonds In Bonds: The Unbeaten Path to Secure Investment Growth, Second Edition, the fully revised and updated edition of the classic guide to demystifying the bonds market, veteran investor husband and wife team Hildy and Stan Richelson expose the myth of stocks' superior investment returns and propose an all-bond portfolio as a sure-footed strategy that will ensure positive returns. Designed to educate novice and sophisticated investors alike, as well as to serve as a tool for financial advisers, the book explains why and when bonds can be the right choice. Case studies, detailed bond strategies, and a financial planning overview bring home the value of bonds in achieving financial goals. Presenting a broad spectrum of bond-investment options, and describing how to purchase bonds at the best prices, the book shows how to make real money by investing in bonds. The strategies presented here are designed to help the reader determine how to use bonds to take control of their own financial destiny. New edition includes information on corporate bonds, emerging market bonds, municipal bonds, the new global ratings, and how to protect against municipal defaults Looks at how bond portfolios protected against market volatility in the 2007-2008 crash and how they can do the same in the future Includes information on how the bond market has changed The wealthiest investors and financial advisers use the bond strategies outlined in this book to maximize the return on their portfolios while providing security of principal With more bond options available than ever before, Bonds continues to be a must-have for anyone looking to understand the investment opportunities available to them.
Dominic Fänders The effects of the ECB.s public and corporate bond purchases. An event study examining the German financial market in comparison to the G7-group Dominic Fänders The effects of the ECB.s public and corporate bond purchases. An event study examining the German financial market in comparison to the G7-group Новинка

Dominic Fänders The effects of the ECB.s public and corporate bond purchases. An event study examining the German financial market in comparison to the G7-group

Master's Thesis from the year 2016 in the subject Economics - Finance, grade: 1,7, University of St Andrews (School of Management), language: English, abstract: This study quantifies the financial market impact of the ECB's public and corporate bond purchase programs from January 2015 to June 2016. The conducted event study analyses eleven announcement events and their influence on government bonds, corporate bonds, exchange rates and equity markets. The focus lies on the German market, although all other G7 countries are included for reasons of comparison. These are the main findings: Government bond and corporate bond yields fell by 23bp and 32bp respectively over all events; the effect on the euro was negative but weak; and the euro equity markets were positively driven by 680bp. Furthermore, most of the effects occur on the day following the events. Finally, the news impact diminishes over time, causing an observable break between the public and corporate bond purchase program.
Chris O'Malley Bonds without Borders. A History of the Eurobond Market Chris O'Malley Bonds without Borders. A History of the Eurobond Market Новинка

Chris O'Malley Bonds without Borders. A History of the Eurobond Market

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Bonds without Borders tells the extraordinary story of how the market developed into the principal source of international finance for sovereign states, supranational agencies, financial institutions and companies around the world. Written by Chris O'Malley – a veteran practitioner and Eurobond market expert- this important resource describes the developments, the evolving market practices, the challenges and the innovations in the Eurobond market during its first half- century. Also, uniquely, the book recounts the development of security and banking regulations and their impact on the development of the international securities markets. In a corporate world crying out for financing, never has an understanding of the international bond markets and how they work been more important.Bonds without Bordersis therefore essential reading for those interested in economic development and preserving a free global market for capital.
SIFMA The Fundamentals of Municipal Bonds SIFMA The Fundamentals of Municipal Bonds Новинка

SIFMA The Fundamentals of Municipal Bonds

The definitive new edition of the most trusted book on municipal bonds As of the end of 1998, municipal bonds, issued by state or local governments to finance public works programs, such as the building of schools, streets, and electrical grids, totaled almost $1.5 trillion in outstanding debt, a number that has only increased over time. The market for these bonds is comprised of many types of professionals—investment bankers, underwriters, traders, analysts, attorneys, rating agencies, brokers, and regulators—who are paid interest and principal according to a fixed schedule. Intended for investment professionals interested in how US municipal bonds work, The Fundamentals of Municipal Bonds, Sixth Edition explains the bond contract and recent changes in this market, providing investors with the information and tools they need to make bonds reliable parts of their portfolios. The market is very different from when the fifth edition was published more than ten years ago, and this revision reasserts Fundamentals of Municipal Bonds as the preeminent text in the field Explores the basics of municipal securities, including the issuers, the primary market, and the secondary market Key areas, such as investing in bonds, credit analysis, interest rates, and regulatory and disclosure requirements, are covered in detail This revised edition includes appendixes, a glossary, and a list of financial products related to applying the fundamentals of municipal bonds An official book of the Securities Industry and Financial Markets Association (SIFMA) With today's financial market in recovery and still highly volatile, investors are looking for a safe and steady way to grow their money without having to invest in stocks. The bond market has always been a safe haven, although confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to decide on the most suitable fixed income investments.
Joe Duarte Market Timing For Dummies Joe Duarte Market Timing For Dummies Новинка

Joe Duarte Market Timing For Dummies

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Want to improve your market timing so you can send your investment returns soaring? Market Timing For Dummies takes the guesswork out of developing a trading strategy and provides all of the tools you need to forecast, prepare for, and take advantage of market trends and changes. This authoritative guide is packed with expert advice on how to increase your profits and limit your risk. It helps you grasp the psychology behind market timing as you learn the basics of the method, analyze our finances, select the right software and equipment, and define your market trading style. You’ll get the hang of using technical analysis to identify trends and reversals, catch key turning points, and manage risk as you track general market trends, develop a feel for when a particular trend is vulnerable to change, and seize the moment! Discover how to: Understand how Wall Street really works Use a wide array of market-timing tools Anticipate and prepare for trend shifts using technical analysis Time the stock market with the seasons Time with a feel for the pulse of the market Execute successful timing trades Time the stock, bond, foreign, and commodities markets Yes! You can make money in any market, whether trends are rising, falling, or moving sideways. Let Market Timing For Dummies show you how.
Chandra Thapa Integration of Emerging Equity Markets. A Systematic Review Chandra Thapa Integration of Emerging Equity Markets. A Systematic Review Новинка

Chandra Thapa Integration of Emerging Equity Markets. A Systematic Review

Emerging Markets exhibit time varying integration with the developed markets with changes not only observed in the degree of expected returns and equity premium but the risk exposures and their sensitivities to the exposures also changes over time. The degree of variation observed in the level of integration in one particular market may be different from others leading to wide cross sectional differences expected returns, equity premium and risk exposures. The academic work in the context of emerging markets could have important implications not only for asset pricing mechanism and capital allocation decision by foreign investors but also for the domestic policymakers who are endeavouring to explore best policy prescription to integrate their economy with that of global market place for reaping the benefits of economic and financial globalization.
Joe Mysak Encyclopedia of Municipal Bonds. A Reference Guide to Market Events, Structures, Dynamics, and Investment Knowledge Joe Mysak Encyclopedia of Municipal Bonds. A Reference Guide to Market Events, Structures, Dynamics, and Investment Knowledge Новинка

Joe Mysak Encyclopedia of Municipal Bonds. A Reference Guide to Market Events, Structures, Dynamics, and Investment Knowledge

5968.66 руб. или Купить в рассрочку!
An accessible reference that explores every aspect of the municipal bond market Until now, there has been no accessible encyclopedia, dictionary, nor guide to the world of municipal bonds. Comprehensive and objective, this groundbreaking volume covers the history and mechanics of the municipal market in clear and understandable terms. It covers all aspects of the market, including pricing, trading, taxation issues and yields, as well as topical events such as the financial crisis, hysteria about defaults and Chapter 9 municipal bankruptcy, fraud, and regulation. Encyclopedia of Municipal Bonds also contains entries on important historical events and provides much-needed context for this field. Everything you ever wanted to know about municipal bonds in one comprehensive resource Joe Mysak is the author of the Bloomberg bestseller Handbook for Muni Issuers Demystifies the world of municipal bonds for both the novice and professional investor Explores issues such as the Orange County bankruptcy, the Jefferson County default, the New York City financial crisis, and the surprisingly recent creation of the modern municipal market Encyclopedia of Municipal Bonds offers an essential reference guide for investors, professionals, regulators, insurers, and anyone else involved in the municipal bond market.
Marco Botta Capital structure and assets risk Marco Botta Capital structure and assets risk Новинка

Marco Botta Capital structure and assets risk

Doctoral Thesis / Dissertation from the year 2007 in the subject Economics - Finance, grade: NA, Catholic University of Sacred Heart, language: English, abstract: Using a sample of non-financial listed firms located in the Euro area, I investigate the determinants of capital structure choices. In line with the traditional theoretical approach, I use a market-value measure of leverage, estimated with the Black-Scholes-Merton model. In the cross-section regressions for firm leverage I find that some variables have similar effects across countries, while others may play a different role; risk, measured as the volatility of the market enterprise value, is the best predictor of observed leverage ratios. Risk, and asymmetric information about risk, make debt less attractive, because of higher expected bankruptcy costs, lower expected debt tax shield and higher agency costs. National environments are an important determinant of observed ratios; sector of activity is a relevant factor as well. The integration of Euro-area financial markets varies significantly depending on the market segment considered: money and inter-bank markets are highly integrated, corporate bond and equity markets show a clear path of increasing integration, retail banking markets are much less integrated. Fiscal and bankruptcy rules differ across the twelve countries; the economic background varies as well.
Babatunde Kazeem Impact of Stock Market Performance Indices on Economic Growth Babatunde Kazeem Impact of Stock Market Performance Indices on Economic Growth Новинка

Babatunde Kazeem Impact of Stock Market Performance Indices on Economic Growth

The controversy on the impact of stock market performance and economic growth and development is empirically evaluated in this study, using Nigerian data. This effort is spurred by the raging debate on the relevance of stock market in promoting economic growth. Using the Ordinary Least Square regression method, the empirical evidence suggest that stock market size and turnover ratio promote economic growth, while stock market liquidity hurts economic growth. Although our result suggests that stock mark performance indices promote economic growth and development, this evidence should be viewed with some caution. The measure of stock market performance used in this study may not be adequate. Although the market capitalization ratio (market capitalization/GDP), value of transactions traded ratio (value of transaction traded/GDP), and turnover ratio (value of transaction traded/market capitalization) as proxies of stock market performance has been popular in literature, it clearly does not include other indicators of stock market development like international integration, market concentration, regulatory and institutional indicators and stock market volatility.
Francis Mulenga Muma Repo Market and Structure of Short Term Interest Rates in China Francis Mulenga Muma Repo Market and Structure of Short Term Interest Rates in China Новинка

Francis Mulenga Muma Repo Market and Structure of Short Term Interest Rates in China

Studienarbeit aus dem Jahr 2011 im Fachbereich BWL - Bank, Börse, Versicherung, Xiamen University, Sprache: Deutsch, Abstract: Money market refers to the market where financial institutions make transactions ofshort-term financial instruments for short-term financing and liquidity management.China's money market is mainly made up of interbank funding market and bondrepurchase agreement market commonly referred to as repo market.Some scholars argue that China's financial liberalization remains incomplete as thebehaviour of short-term market-determined interest rates is influenced by regulated rates.This paper argues that to have integrity of the market China should further liberalize its retailinterest rates to allow all interest rates to better reflect liquidity conditions and the scarcity ofcapital.At present, the relevant research of the term structure of interest rates of China ismostly directed against a certain specific market or a certain specific method, lacking marketintegrality. For constructing a systemic, scientific term structure of interest rate of China,respective term structure of interest rate is deduced from the treasury bond market, bankdeposit market, inter-bank borrowing market, bank repo market, and RMB interest rate swapmarket. And then according to different weights, a synthesized term structure of interest rateof China is constructed out. Finally, empirical research is carried on by use of this method.Empirical results show that the method is b...
Francis Mulenga Muma Financial Structural Change, Liberalization and Liquidity Market Integrity in China Francis Mulenga Muma Financial Structural Change, Liberalization and Liquidity Market Integrity in China Новинка

Francis Mulenga Muma Financial Structural Change, Liberalization and Liquidity Market Integrity in China

Research Paper (undergraduate) from the year 2011 in the subject Economics - Monetary theory and policy, grade: A, Xiamen University (School of Economics), course: Economics, language: English, abstract: Money market refers to an exchange for buying and selling of financial and money market instruments where financial institutions make transactions of short-term financial instruments for short-term financing and liquidity management. China's money market is mainly made up of interbank funding market and bond repurchase agreement market commonly referred to as repo market.Since the market-oriented economic reform in 1978, China has entered into a stage of financial deregulation and liberalization. With the growth of the national economy and change of national income structure, China's finance has increased rapidly, which has brought a great deal of changes in the financial structure. In 1978, broad money (M2) balance was near RMB150 billion yuan. By the end of 2001, M2 balance was up to RMB16,000 billion yuan, an increase of over 100 times in the past twenty years, implying a growth rate of 5 percent a year in 20 years. However, with this financial development and deepening, China needs to liberalize the financial market further and let the liquidity conditions reflect the market realities and integrity.Some scholars argue that China's financial liberalization remains incomplete as the behavior of short-term market-determined interest rates is influenced by regulat...
Frank Fabozzi J. Managing a Corporate Bond Portfolio Frank Fabozzi J. Managing a Corporate Bond Portfolio Новинка

Frank Fabozzi J. Managing a Corporate Bond Portfolio

Praise for Managing a Corporate Bond Portfolio «Crabbe and Fabozzi's Managing a Corporate Bond Portfolio is a refreshingly good book on the neglected topic in fixed income portfolio management. If you want to understand the latest thinking in corporate bonds, what drives prices and why, read this book. You will emerge with knowledge that will help you get an edge in the competitive investing arena.» —Tim Opler, Director, Financial Strategy Group, CSFB «A practitioner's guide . . . a creative, comprehensive, and practical book that addresses the myriad of challenges facing managers of corporate bond portfolios. The chapter on liquidity, trading, and trading costs is a must read.» —Mary Rooney Head of Credit Strategy, Merrill Lynch «As a Senior Portfolio Manager responsible for managing billions of dollars invested in fixed income product during the mid-1990s, Lee Crabbe was the one Wall Street strategist that I would read every week to help me figure out where value was in the corporate bond market, and for insightful and easy-to-understand special reports that educated me and most investors on the risks and opportunities inherent in new structures and subordinated products. Fortunately for me and investors, Lee Crabbe and Frank Fabozzi have written this book, which compiles much of their previous work on corporate bond valuation, along with new features that are a must read, especially in light of the volatile times in the corporate bond market over the past few years. For portfolio managers, analysts, traders, and even strategists, if there is one book in your bookshelf that you should have on corporate bond portfolio management, it is this one.» —William H. Cunningham, Managing Director, Director of Credit Strategy, J.P. Morgan Securities Inc. www.wileyfinance.com
Moorad Choudhry An Introduction to Bond Markets Moorad Choudhry An Introduction to Bond Markets Новинка

Moorad Choudhry An Introduction to Bond Markets

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The bond markets are a vital part of the world economy. The fourth edition of Professor Moorad Choudhry's benchmark reference text An Introduction to Bond Markets brings readers up to date with latest developments and market practice, including the impact of the financial crisis and issues of relevance for investors. This book offers a detailed yet accessible look at bond instruments, and is aimed specifically at newcomers to the market or those unfamiliar with modern fixed income products. The author capitalises on his wealth of experience in the fixed income markets to present this concise yet in-depth coverage of bonds and associated derivatives. Topics covered include: Bond pricing and yield Duration and convexity Eurobonds and convertible bonds Structured finance securities Interest-rate derivatives Credit derivatives Relative value trading Related topics such as the money markets and principles of risk management are also introduced as necessary background for students and practitioners. The book is essential reading for all those who require an introduction to the financial markets.
Marco Botta Firm Financing in the Euro Area. How asset risk affects capital structure decisions within the monetary union Marco Botta Firm Financing in the Euro Area. How asset risk affects capital structure decisions within the monetary union Новинка

Marco Botta Firm Financing in the Euro Area. How asset risk affects capital structure decisions within the monetary union

Using a sample of non-financial listed firms located in the Euro area, the determinants of capital structure decisions in the years 2000-2003 are investigated in this study. In line with the traditional theoretical approach and in contrast with traditional empirical literature, the study is based on a market-value measure of leverage, estimated with the Merton model. In a cross-section regressions some variables have similar effects on financing decisions across countries, while others may play a different role; risk, measured as the volatility of the market value of assets, is the best predictor of observed leverage ratios.The integration of Euro-area financial markets varies significantly in different market segments: money and inter-bank markets are highly integrated, corporate bond and equity markets show a clear path of increasing integration, while retail banking markets are much less integrated. Tax and bankruptcy rules differ across the twelve countries, as well as the economic background. As a consequence, nationality is still an important determinant of observed debt ratios, despite the monetary union.
Frank Fabozzi J. Securities Finance. Securities Lending and Repurchase Agreements Frank Fabozzi J. Securities Finance. Securities Lending and Repurchase Agreements Новинка

Frank Fabozzi J. Securities Finance. Securities Lending and Repurchase Agreements

7539.36 руб. или Купить в рассрочку!
In Securities Finance, editors Frank Fabozzi and Steven Mann assemble a group of prominent practitioners in the securities finance industry to provide readers with an enhanced understanding of the various arrangements in the securities finance market. Divided into three comprehensive parts—Securities Lending, Bond Financing via the Repo Market, and Equity Financing Alternatives to Securities Lending—this book covers a wide range of securities finance issues, including alternative routes to the securities lending market, evaluating risks in securities lending transactions, U.S. and European repo markets, dollar rolls and their impact on MBS valuation and strategies, derivatives for financing equity positions and equity repos, and more. Filled with in-depth insight and expert advice, Securities Finance contains the information readers need to succeed in this rapidly expanding market.
Donald Smith J. Bond Math. The Theory Behind the Formulas Donald Smith J. Bond Math. The Theory Behind the Formulas Новинка

Donald Smith J. Bond Math. The Theory Behind the Formulas

A bond calculation quick reference, complete with context and application insights Bond Math is a quick and easy resource that puts the intricacies of bond calculations into a clear and logical order. This simple, readable guide provides a handy reference, teaching the reader how to think about the essentials of bond math. Much more than just a book of formulas, the emphasis is on how to think about bonds and the associated math, with plenty of examples, anecdotes, and thought-provoking insights that sometimes run counter to conventional wisdom. This updated second edition includes popular Bloomberg pages used in fixed-income analysis, including the Yield and Spread Analysis page, plus a companion website complete with an Online Workbook of multiple choice questions and answers and spreadsheet exercises. Detailed coverage of key calculations, including thorough explanations, provide practical guidance to working bond professionals. The bond market is the largest and most liquid in the world, encompassing everything from Treasuries and investment grade corporate paper to municipals and junk bonds, trading over $900 billion daily in the U.S. alone. Bond Math is a guide to the inevitable calculations involved in managing bonds, with expert insight on the portfolios and investment strategies that puts the math in perspective. Clear and concise without sacrificing detail, this book helps readers to: Delineate the characteristics of different types of debt securities Calculate implied forward and spot rates and discount factors Work with rates of return, yield statistics, and interest rate swaps Understand duration-based risk measures, and more Memorizing formulas is one thing, but really learning how to mentally approach the math behind bonds is something else entirely. This approach places calculations in context, and enables easier transition from theory to application. For the bond professional seeking a quick math reference, Bond Math provides that and so much more.
Simona Vasilache, Tatiana Segal Cultural integration and workforce diversity Simona Vasilache, Tatiana Segal Cultural integration and workforce diversity Новинка

Simona Vasilache, Tatiana Segal Cultural integration and workforce diversity

Research Paper (postgraduate) from the year 2011 in the subject Business economics - Business Management, Corporate Governance, , language: English, abstract: This book is written around the idea of cross-cultural integration of values and behaviours, in the context of teamwork and workplace diversity. It groups a series of related studies, referring to teamwork in multicultural products, to the entrepreneurial orientation of young graduates, and labour market discrimination.The case studies refer, mainly, to the Romanian business and non-business market, attempting to structure around driving concepts a transitional environment. Thus, it represents a starting point in discussing the success of cross-cultural endeavours on the Romanian market.It thus, illustrates the concept of "collaboration in diversity", and opens paths and perspectives for further exploration and analysis of the state of the art.
Frank Fabozzi J. Collateralized Debt Obligations. Structures and Analysis Frank Fabozzi J. Collateralized Debt Obligations. Structures and Analysis Новинка

Frank Fabozzi J. Collateralized Debt Obligations. Structures and Analysis

A practical guide to the features and investment characteristics of CDOs In the bond area, collateralized debt obligations, which include collateralized bond obligations and collateralized loan obligations, are the fastest-growing sector. Collateralized Debt Obligations: Structures and Analysis describes the various products in this area-cash flow CDOs, market value CDOs, synthetic CDOs, etc.-and explains how to evaluate them. With this book as their guide, investment managers and institutional investors alike will learn how to analyze the risks associated with CDOs, create a portfolio of CDO products, and assess trading opportunities in the secondary market.
Theresa Petra Hauck Macroeconomic Policy Coordination in EMU Theresa Petra Hauck Macroeconomic Policy Coordination in EMU Новинка

Theresa Petra Hauck Macroeconomic Policy Coordination in EMU

Bachelor Thesis from the year 2016 in the subject Economics - Macro-economics, general, grade: 1,0, University of Bamberg, language: English, abstract: The financial crisis and the subsequent European sovereign debt crisis have highlighted the high degree of interdependence among EMU member states. The crisis period made much more clear that a macroeconomic policy coordination framework is indispensable as there is great sensibility and high risk for contagion effects. The structure of EMU in its highest level of integration as of one monetary authority vis-à-vis many fiscal authorities brings about several specific aspects regarding coordination. In order to achieve and ensure economic stability in such a unique constellation there have been established several measures and frameworks with the Stability and Growth Pact as the centre point. Designed on the grounds of and motivated by the objective of stabilising the overall economy, the pact promotes fiscal discipline through limiting government deficits and debts in order to prevent adverse fiscal spillover effects and freeriding behaviour of national fiscal authorities which could risk price and overall macroeconomic stability of the common currency area. This however brings about limitations for governments to discretionarily react to national economic needs and conditions. This bachelor thesis addresses the resulting tension between a theoretical and fundamental need for macroeconomic policy coordination in a monetary uni...
Pavlina Popova A harmonized European electricity balancing market. Incorporation of congestion management into cross-border reserve procurement Pavlina Popova A harmonized European electricity balancing market. Incorporation of congestion management into cross-border reserve procurement Новинка

Pavlina Popova A harmonized European electricity balancing market. Incorporation of congestion management into cross-border reserve procurement

Masterarbeit aus dem Jahr 2017 im Fachbereich VWL - Sonstiges, Note: 1,7, Humboldt-Universität zu Berlin (Chair for Management Science), Sprache: Deutsch, Abstract: The thesis is structured as follows. Section 2 gives an overview of the current electricity market design and Section 3 integrates the balancing market in the framework and presents the economical and technical conditions, including the relevant design variables. Section 4 describes the benefits from cross-border coordination in reserve markets and introduces possible integration models. Within Section 5, model requirements are formulated and one suitable model is selected. Section 6 presents the selected methodology and Section 7 gives the obtained case study. Section 8 evaluates the model and discusses the proposed expansion involving the flow-based approach. Lastly, Section 9 concludes and gives further research prospects.European electricity markets have changed profoundly in the last decades. In national markets increased deregulation and privatization have accompanied the decoupling of transmission, distribution and generation activities. Simultaneously, markets in Europe are becoming more interconnected and harmonized. Until now, the focus was primarily set on the harmonization and integration of spot and forward markets. Nonetheless, the short-term regulation of flexible short-term operating reserves within the balancing market is gaining attention in academia and industry, especially due to the increased ...
Andreas Kauerhof Tesla Motors Inc. Market Entry Strategy in Germany Andreas Kauerhof Tesla Motors Inc. Market Entry Strategy in Germany Новинка

Andreas Kauerhof Tesla Motors Inc. Market Entry Strategy in Germany

Seminar paper from the year 2016 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, University of applied sciences, Munich, language: English, abstract: The author of this assignment reviews the Tesla's business model approach and its strategy in the non-domestic German market. Tesla's firm specific advantages are especially related to innovation of the vehicle, the battery and the infrastructure. Tesla Motors follows a product strategy entering from premium market and moving towards mass market. After starting with a high-price Roadster model Tesla launched the more affordable Sedan and a SUV model. In 2017 Tesla plans to launch its first mass market EV. Tesla shows a new value chain in the automotive industry by a deep of vertical integration from EVs manufacturing towards software, recharging network and battery manufacturing. Tesla entered the German market to export premium EVs. The Automaker also builds a charging network in Germany and prepares the market for its future mass production Model 3 coming in 2017. This work consists of three major parts. The first part deals with the theoretical background of international strategies for MNEs. The second part describes Tesla as a company and its strategy. The last part analyzes the competitive advantages of Tesla and shows how they are used to enter the German market. This work ends with a final reflection and a conclusion of the research.
Barry Wacksman Connected by Design. Seven Principles for Business Transformation Through Functional Integration Barry Wacksman Connected by Design. Seven Principles for Business Transformation Through Functional Integration Новинка

Barry Wacksman Connected by Design. Seven Principles for Business Transformation Through Functional Integration

In a world of fierce global competition and rapid technological change, traditional strategies for gaining market share and achieving efficiencies no longer yield the returns they once did. How can companies drive consumer preference and secure sustainable growth in this digital, social, and mobile age? The answer is through functional integration. Some of the world's most highly valued companies—including Amazon, Apple and Google—have harnessed this new business model to build highly interactive ecosystems of interrelated products and digital services, gaining new levels of customer engagement. Functional integration offers forward-looking brands a unique competitive edge by using transformative digital technologies to deliver high-value customer experiences, generate repeat business, and unlock lucrative new business-to-business revenue streams. Connected By Design is the first book to show business leaders and marketers exactly how to use functional integration to achieve transformative growth within any type of company. Based on R/GA's pioneering work with firms at the forefront of functional integration, Barry Wacksman and Chris Stutzman identify seven principles companies must follow in order to create and deliver new value for customers and capture new revenues. Connected By Design explains how functional integration drove the transformation of market-leading companies as diverse as Nike, General Motors, McCormick & Co., and Activision to establish authentic brand relationships with their customers, enter new categories, and develop new sources of income. With Connected by Design, any company can leverage technological disruption to redefine its mission and foster greater brand loyalty and engagement.
Varaha NageswaraRao Amuduri, Dasarathi Sahu, Krishna M.Vaddadi Planning Supply Chain Integration Strategies Varaha NageswaraRao Amuduri, Dasarathi Sahu, Krishna M.Vaddadi Planning Supply Chain Integration Strategies Новинка

Varaha NageswaraRao Amuduri, Dasarathi Sahu, Krishna M.Vaddadi Planning Supply Chain Integration Strategies

Unlike everbefore Global Markets have become more competitive and Organizations are competing with each other for small product margins. The dynamic changing market environments coupled with severe threat of competition among organizations have resulted in a challenge in managing effective supply chain mechanism. Effective supply chain mechanism is inevitable for organizations which are planning to reduce supply chain costs, flow of material and information in order to secure competitive advantage and improve organizational performance.Environment protection and Sustainable Development should be given high priority and importance in the process of manufacturing products. In the present context Supply Chain Integration plays a vital role in facilitating environment friendly and Quality products . Supply chain Integration at various levels helps the Organization to promptly respond to ever-changing business conditions and customer preferences.
Obinna Ozumba The Support of Renewable Electricity in the Eu Obinna Ozumba The Support of Renewable Electricity in the Eu Новинка

Obinna Ozumba The Support of Renewable Electricity in the Eu

Renewable power can't compete with fossil fuels without financial support because they are expensive and their technologies are not yet mature enough. As a result, support schemes are in place. However, the multitude of support schemes raises concerns from the angle of a single EU electricity market. Solutions at the national level may alter competition in the EU internal market. Then, is there a need to integrate the support schemes and have a single support scheme applicable throughout the EU? Since there are benefits and drawbacks to integration, is integration required? This analysis sheds more light on this issue and should be relevant to policy makers in EU member states. It should also be relevant to academics around the world that conduct research in this field
Scott Whitaker C. Mergers & Acquisitions Integration Handbook. Helping Companies Realize The Full Value of Acquisitions Scott Whitaker C. Mergers & Acquisitions Integration Handbook. Helping Companies Realize The Full Value of Acquisitions Новинка

Scott Whitaker C. Mergers & Acquisitions Integration Handbook. Helping Companies Realize The Full Value of Acquisitions

5968.66 руб. или Купить в рассрочку!
Proven strategies and tactics to manage the integration of acquired and/or merged companies Mergers & Acquisitions Integration Handbook is a comprehensive resource to help companies create a scalable post merger or acquisition integration process and framework that accelerates operating and business benefit goal realization. Includes tools, templates, forms, examples and checklists to provide a no nonsense “handbook” style approach to managing an effective integration. Helps integration managers quickly get up to speed on various integration challenges, including guidance on developing detailed operational and functional integration plans to support flawless execution. Reveals how to avoid integration failure by establishing an in-house integration management office to handle integration projects. Includes a sample integration playbook that can be used to create a core competency within companies to support ongoing integration activity. Botched integration is the number one reason mergers fail. Mergers & Acquisitions Integration Handbook shows you how to develop, execute and implement merger integrations and business strategies to realize your organization's mergers and acquisitions goals.
Laura Rubio The EU Integration Model. A Commodity for Export. Laura Rubio The EU Integration Model. A Commodity for Export. Новинка

Laura Rubio The EU Integration Model. A Commodity for Export.

Over the last few years it seems that the tendency in international relations leads to regionalization. With the European Union as the champion of Integration, other projects and blocs of regional integration have emerged. Of all these projects, it is that of MERCOSUR that has taken on the most ambitious and far reaching goals, coming closer than any other to the European integration experience. The Southern bloc intends to create a common market, while controlling or regulating many spheres of the former exclusive domains of the Nation State such as cultural and economical aspects. On the other hand, some experts assure that the integration process in MERCOSUR is submerged in a political crisis that is leading to its decline. Many advocate for the need to reshape its institutional design to keep it from falling apart. This book procures to shed light on the integration process of MERCOSUR. Its goal is to determine whether the conditions given in MERCOSUR correspond to those needed to make the European project of integration advance to its current status quo. That is, whether the European model of integration can in fact be "exported" and applied to this context.
Moorad Choudhry Fixed-Income Securities and Derivatives Handbook Moorad Choudhry Fixed-Income Securities and Derivatives Handbook Новинка

Moorad Choudhry Fixed-Income Securities and Derivatives Handbook

6596.94 руб. или Купить в рассрочку!
The definitive guide to fixed-come securities-revised to reflect today's dynamic financial environment The Second Edition of the Fixed-Income Securities and Derivatives Handbook offers a completely updated and revised look at an important area of today's financial world. In addition to providing an accessible description of the main elements of the debt market, concentrating on the instruments used and their applications, this edition takes into account the effect of the recent financial crisis on fixed income securities and derivatives. As timely as it is timeless, the Second Edition of the Fixed-Income Securities and Derivatives Handbook includes a wealth of new material on such topics as covered and convertible bonds, swaps, synthetic securitization, and bond portfolio management, as well as discussions regarding new regulatory twists and the evolving derivatives market. Offers a more detailed look at the basic principles of securitization and an updated chapter on collateralized debt obligations Covers bond mathematics, pricing and yield analytics, and term structure models Includes a new chapter on credit analysis and the different metrics used to measure bond-relative value Contains illustrative case studies and real-world examples of the topics touched upon throughout the book Written in a straightforward and accessible style, Moorad Choudhry's new book offers the ideal mix of practical tips and academic theory within this important field.
Natascha Ljubic Market liberalization. an analysis of the Austrian electricity market Natascha Ljubic Market liberalization. an analysis of the Austrian electricity market Новинка

Natascha Ljubic Market liberalization. an analysis of the Austrian electricity market

Bachelor Thesis from the year 2004 in the subject Economics - Case Scenarios, grade: 1 (A), Vienna University of Economics and Business (New Media Lab), course: Baccalaureut Work, language: English, abstract: The liberalization of the European electricity market is supposed to reduce electricity prices by opening up to competition and by promoting integration of the common European market. Deregulation allows energy consumers to choose their electric energy supplier and therefore dissolves electric utility monopolies. The resulting re-regulation and restructuring of the electricity industry has created oppor-tunities and challenges that need to be addressed to ensure long-term capacity sustainability. The promise and benefit expectations of electricity market liberalization may need to be tempered by the reality of the process. Market liberalization of the electricity supply sector depends on many different factors and boundary conditions in the EU. In order to analyze these issues, we will use Austria as an example showing the development in liberalization, deregulation, and even re-regulation processes and the impact on the industry structure and final consumer pricing. Given the industry structure, incentives to invest in the Austrian transmission and distribution networks remain to be established. We will show that high inflexible taxes and monopoly protected transmission costs, both together account for 80% of the price of electricity. Moreover, only 20% of the electrici...
Maria Cristina De Lorenzo Microfinance Investment Funds. An analysis of profitability. Maria Cristina De Lorenzo Microfinance Investment Funds. An analysis of profitability. Новинка

Maria Cristina De Lorenzo Microfinance Investment Funds. An analysis of profitability.

In the traditional financial system, profit and social solidarity have often represented a dichotomy hard to beat. In this scenario, the Microfinance Investment Vehicles (MIVs) are emerging as tools to build a bridge between private and social interests, increasingly in recent years, despite the fact that the world economy has been shaken by a strong global recession.After clarifying the often confused meaning of MIVs, Maria Cristina De Lorenzo utilises financial indicators like returns, Jensen's alpha, Sharpe Index, Treynor Index, Beta, R-Squared to analyse the performance and the risk of a sample of ten MIVs over the last three years. She compares the results obtained to three benchmarks representing the overall equity market (Morgan Stanley Capital International World Index), the socially responsible investment market (Dow Jones Sustainability World Index), and the emerging bond market (J.P. Morgan Emerging Market Bond Index Global). Her study demonstrates that, in general, MIVs outperformed the benchmarks. They can successfully improve portfolio diversification because there is no positive correlation with broader markets (Beta parameters are next to zero).Ultimately, De Lorenzo aims to provide ways of research defining standard indicators of social performance associated with such investments in order to reinforce the idea that ethically and socially responsible funds are both a great financial and social opportunity for all involved.
Thorsten Foltz Financial Stability Risk. Measuring the Illiquidity of Corporate and Sovereign Bonds Thorsten Foltz Financial Stability Risk. Measuring the Illiquidity of Corporate and Sovereign Bonds Новинка

Thorsten Foltz Financial Stability Risk. Measuring the Illiquidity of Corporate and Sovereign Bonds

Master's Thesis from the year 2016 in the subject Economics - Other, grade: 1,3, University of Siegen, language: English, abstract: Market liquidity is most important for financial markets and thus for the real economy. Market-makers seem to provide less liquidity recently. The reasons of such a behaviour are shown within this work. It exhibits the regulations which have changed, the behaviour of market-makers and how financial markets are able to become illiquid. After this more theoretical framework, which refers to financial stability, several measures of liquidity are introduced and empirically tested on a dataset of about 60,000 corporate and sovereign bonds in 34 countries over a period of eleven years. The result, is that bond markets became less liquid within the last three years than during the financial and the following European debt crisis.
EMU Сандалии EMU Сандалии Новинка

EMU Сандалии

без аппликаций, одноцветное изделие, скругленный носок, без каблука, внутри шерсть, резиновая подошва с тиснением, содержит нетекстильные части животного происхождения
Moritz Breuninger Buy and Build Strategies in Management Buyouts Moritz Breuninger Buy and Build Strategies in Management Buyouts Новинка

Moritz Breuninger Buy and Build Strategies in Management Buyouts

Master's Thesis from the year 2013 in the subject Business economics - Business Management, Corporate Governance, grade: 7,5, Erasmus University Rotterdam (Strategic Management), language: English, abstract: Recent changes in the market for private equity have led investors to shift their attention away from market beta and towards generating alpha through the exploration of growth opportunities. PE firms increasingly use active ownership to implement these new growth plans. Buy and build strategies have emerged as a feasible and lucrative strategy of active ownership. The add-on acquisitions required when pursuing this strategy and the need tocreate value through synergistic effects necessitate post-acquisition integration efforts. Despite its relevance, researchers in the field of strategic management and finance have paid little attention to buy and build strategies. Moreover, they have yet to bridge the findings by scholars and practitioners on post-acquisition integration and active ownership. This paper seeks to fill this gap by answering the research question of how PE firms contribute to the integration process and how they handle task and affective conflicts and exercise management control with regard to the cooperation between the PE firm and the managementof the portfolio company.Previous work has linked active ownership to capabilities and found that prior business experience is a strong predictor of active ownership, meaning a high level of contribution by th...
Monika Roth Influence of European Integration on the Bargaining Power of German Trade Unions Monika Roth Influence of European Integration on the Bargaining Power of German Trade Unions Новинка

Monika Roth Influence of European Integration on the Bargaining Power of German Trade Unions

Diplomarbeit aus dem Jahr 2010 im Fachbereich BWL - Wirtschaftspolitik, Freie Universität Berlin (Otto Suhr Institut - Politikwissenschaft), Veranstaltung: Politikwissenschaft, Sprache: Deutsch, Abstract: German trade unions' influence in industrial relations at the national level is curbed by the side effects of European integration. Supranationalization implies the transfer of regulatory power from the national to the supranational level. In the various policy areas, integration and supranationalization proceed at different speeds with regard to scope and level. This also applies to the neighboring policy areas of economic and labor policy. However, due to the overlap of these two policy areas, the asymmetrical integration of economic policy vis-a-vis labor policy leads to shifts in the German collective bargaining system, thus circumscribing the scope of German trade unions' action. More specifically, sectoral asymmetry leads to asymmetric political localization of the policy areas: Regulations in the economy are mainly taken at the EU level, whereas labor and social affairs remain national competences. Furthermore, the insertion of a supra-national layer is accompanied by a policy-theoretical change of the highest governmental and judicial authority from a hitherto (social-democratic) market-correcting consensus to a now market-making approach. This shift causes respective shifts at the national level as well. Additionally, the European Court of Justice possesses ...
Ralf Koschmieder, Furong Liang The empirical relationship between the spreads of Credit Default Swaps and Bonds Ralf Koschmieder, Furong Liang The empirical relationship between the spreads of Credit Default Swaps and Bonds Новинка

Ralf Koschmieder, Furong Liang The empirical relationship between the spreads of Credit Default Swaps and Bonds

Scientific Essay from the year 2010 in the subject Business economics - Investment and Finance, , language: English, abstract: Warren Buffet, the world's richest man, once said that derivatives are financial "weapons of mass destruction." a term popularized by George W. Bush to describe nuclear arms. Indeed financial derivatives have a far greater impact on the market than their underlying due to their leverage effect. And the most popular and important credit derivatives nowadays are credit default swaps with a current notional value of over 60 trillion US dollars according to ISDA 1 (International Swaps and Derivatives Association) and 58 trillion US dollars according to BIS 2 (Bank for international settlement) respectively. That is more than the whole world's gross domestic product in the same year! 3 This paper examines the empirical relationship of CDS premium and credit spread by testing on their theoretical equivalence derived by Duffie (1999). It begins with an overview of CDS followed by the theoretical framework. The analysis starts with explanation of testing methods and description of data. After confirming the existence of the basis spread, this paper goes on to analyse the interactions of CDS spread and Bond spread using econometrics methods like Cointegration and Granger Causality tests. Also examined is the leadership of price discovery process between CDS market and traditional bond market.
Stefan Modrow Involving the Question of Utility for the Design of Structured Equity Products in the Wealth Management Market Stefan Modrow Involving the Question of Utility for the Design of Structured Equity Products in the Wealth Management Market Новинка

Stefan Modrow Involving the Question of Utility for the Design of Structured Equity Products in the Wealth Management Market

Doctoral Thesis / Dissertation from the year 2017 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 1,0, , language: English, abstract: The market for retail investment products is traditionally dominated by saving deposits, various types of funds, and life insurance products. The liberalization of the capital market in the 1990s and the foundation of option exchanges gave more investors access to derivative products. Financial institutions started to manufacture investment products as a combination of zero-coupon bonds or shares and derivatives. Structured equity products are "wrapped" into bond-like structures, receive security identification numbers, and are traded on regulated markets. Issuers quote bid and ask prices to make the products available for buying and selling activities. Investors pay a notional amount upfront in the form of a lump sum and get access to payoff profiles otherwise not offered in the private wealth management market. Financial institutions distribute the structured equity products through their retail advisory channels in which intermediaries give personal advice to retail clients about the attractiveness of products. The financial market crises in the year 2008 made several poor selling practices evident and revealed the existence of questionable structured equity products in the wealth management of financial institutions. The lack of strict governance rules in the issuing...
Moses Wisdom Chisadza The role of cross-listings in establishing a Southern African Development Community regional stock exchange Moses Wisdom Chisadza The role of cross-listings in establishing a Southern African Development Community regional stock exchange Новинка

Moses Wisdom Chisadza The role of cross-listings in establishing a Southern African Development Community regional stock exchange

Master's Thesis from the year 2013 in the subject Economics - Case Scenarios, , course: LLM in International Trade, Investment and Business Law in Africa, language: English, abstract: It has been established that African stock markets are confronted with a multitude of problems which include, inadequate liquidity, low capitalisation, few market participants, a small number of listed companies and low trading volumes. As a result, their broader economic impact has so far been limited. The Southern Africa Development Community (SADC) stock markets with the exception of South Africa are small, both in terms of the number of listed companies and market capitalisation, and they display considerable illiquidity. In general, the SADC region has shallow and underdeveloped financial markets. Their development has been hampered by a number of factors which include; political and economic uncertainty, fiscal dominance, weak judicial institutions, limited investment opportunities in the private sector, technological constraints, and the shortage of skilled personnel with expertise in banking and finance. It is contended that all these problems could be eased through regional financial integration. The integration of African stock markets and the introduction of regional stock exchanges will promote cross-border listings and thus stimulate increased liquidity across markets. Thus, it is suggested that the integration of SADC's stock markets and the creation of a regional stock exc...
James Bond Encyclopedia. Updated Edition James Bond Encyclopedia. Updated Edition Новинка

James Bond Encyclopedia. Updated Edition

This book features twenty-three Bond movies, six James Bonds and all the Bond villains, girls, vehicles and cool gadgets in one single volume. Written by James Bond...
Bond By Design: The Art of the James Bond Films Bond By Design: The Art of the James Bond Films Новинка

Bond By Design: The Art of the James Bond Films

Featuring the work of legendary Bond film designers such as Ken Adam, Peter Lamont, and Syd Cain,Bond by Design brings the James Bond art department's story right up to date with behind-the-scenes artwork from the latest film, SPECTRE. With two exclusive prints and authoritative text by EON's own archivist, Meg Simmonds, Bond by Design provides unique, spectacular, and fascinating insights into this hugely successful film franchise.

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Presenting the policy drivers, benefits and challenges for grid integration of electric vehicles (EVs) in the open electricity market environment, this book provides a comprehensive overview of existing electricity markets and demonstrates how EVs are integrated into these different markets and power systems. Unlike other texts, this book analyses EV integration in parallel with electricity market design, showing the interaction between EVs and differing electricity markets. Future regulating power market and distribution system operator (DSO) market design is covered, with up-to-date case studies and examples to help readers carry out similar projects across the world. With in-depth analysis, this book describes: the impact of EV charging and discharging on transmission and distribution networks market-driven EV congestion management techniques, for example the day-ahead tariff based congestion management scenario within electric distribution networks optimal EV charging management with the fleet operator concept and smart charging management EV battery technology, modelling and tests the use of EVs for balancing power fluctuations from renewable energy sources, looking at power system operation support, including frequency reserve, power regulation and voltage support An accessible technical book for power engineers and grid/distributed systems operators, this also serves as a reference text for researchers in the area of EVs and power systems. It provides distribution companies with the knowledge they need when facing the challenges introduced by large scale EV deployment, and demonstrates how transmission system operators (TSOs) can develop the existing system service market in order to fully utilize the potential of EV flexibility. With thorough coverage of the technologies for EV integration, this volume is informative for research professors and graduate students in power systems; it will also appeal to EV manufacturers, regulators, EV market professionals, energy providers and traders, mobility providers, EV charging station companies, and policy makers.
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