Download or read book Hybrid Securities written by Kamil Liberadzki and published by Springer. This book was released on 2016-04-08 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hybrid capital securities or 'hybrids' offer various benefits. They offer flexibility equity without shareholder dilution, provide protection to senior creditors, are a stable source of long-term funding for healthy companies, and help insurers and banks meet regulatory and rating agency capital requirements. Risks and features of hybrid securities are expressed in the credit spread of some relatively new financial instruments, but no structural fundamentals exist for to price hybrids precisely. This book proposes a model for the pricing of hybrids. It begins by explaining the concept of hybrids as well as their equity- and debt-like characteristics. Different types of hybrids are presented, including preference shares, convertible bonds, contingent convertibles (CoCos) and bail-in bonds. The authors then present analysis of regulatory regimes' impact on hybrids. They discuss the types of hybrid bonds that are contemplated in the Capital Requirements Regulation (CRR) and Banking Union mechanism. They then present an in-depth examination of hybrids pricing and risk assessment techniques. The book provides a comprehensive analysis from mathematical, legal and financial perspectives in order to look at relatively new financial instruments and address problems with the pricing models of hybrids which are as yet unsolved.
Download or read book The Use of Hybrid Securities written by Benjamin Kleidt and published by Springer Science & Business Media. This book was released on 2007-12-03 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Benjamin Kleidt analyzes why firms decide to issue hybrid securities. He provides insights into the financing behaviour of issuing firms with regard to operating and stock price performance prior and subsequent to hybrid security issues and shows that issuance motives for the use of different forms of hybrid securities are as diverse as available structures for this asset class.
Download or read book The Handbook of Hybrid Securities written by Jan De Spiegeleer and published by John Wiley & Sons. This book was released on 2014-05-19 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introducing a revolutionary new quantitative approach to hybrid securities valuation and risk management To an equity trader they are shares. For the trader at the fixed income desk, they are bonds (after all, they pay coupons, so what's the problem?). They are hybrid securities. Neither equity nor debt, they possess characteristics of both, and carry unique risks that cannot be ignored, but are often woefully misunderstood. The first and only book of its kind, The Handbook of Hybrid Securities dispels the many myths and misconceptions about hybrid securities and arms you with a quantitative, practical approach to dealing with them from a valuation and risk management point of view. Describes a unique, quantitative approach to hybrid valuation and risk management that uses new structural and multi-factor models Provides strategies for the full range of hybrid asset classes, including convertible bonds, preferreds, trust preferreds, contingent convertibles, bonds labeled "additional Tier 1," and more Offers an expert review of current regulatory climate regarding hybrids, globally, and explores likely political developments and their potential impact on the hybrid market The most up-to-date, in-depth book on the subject, this is a valuable working resource for traders, analysts and risk managers, and a indispensable reference for regulators
Download or read book Hybrid Financial Instruments in International Tax Law written by Jakob Bundgaard and published by Kluwer Law International B.V.. This book was released on 2016-11-15 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial innovation allows companies and other entities that wish to raise capital to choose from a myriad of possible instruments that can be tailored to meet the specific business needs of the issuer and investor. However, such instruments put increasing pressure on a question that is fundamental to the tax and financial systems of a country – the distinction between debt and equity. Focusing on hybrid financial instruments (HFIs) – which lie somewhere along the debt-equity continuum, but where exactly depends on the terms of the instrument as well as on applicable laws – this book analyses their treatment under both domestic law and tax treaties. Key jurisdictions, including the EU, some of its Member States, and the United States, are covered. Advocating for a broader scope of application of HFIs as part of the financing of companies in Europe alongside traditional sources of debt and equity financing, the book addresses such issues and topics as the following: • problems associated with the debt-equity distinction in international tax law; • cross-border tax arbitrage and linking rules; • drivers behind the use and design of HFIs; • tax law impact of perpetual and super maturity debt instruments, profit participating loans, convertible bonds, mandatory convertible bonds, contingent convertibles, preference shares and warrant loans on HFIs; • financial accounting treatment; • administrative guidance; • influence of the TFEU on Member States’ approaches to classification of HFIs; • interpretation of the Parent-Subsidiary Directive by the European Court of Justice; • applicability of the OECD Model Tax Convention; and • implications of the OECD Base Erosion and Profit Shifting (BEPS) project. Throughout this book, the analysis draws upon preparatory works, case law, and legal theory in English, German, and the Scandinavian languages. In conclusion, the author considers tax policy issues, and identifies and outlines possible high-level solutions. Actual or potential users of HFIs will greatly appreciate the clarity and insight offered here into the capacity and tax implications of HFIs. The book not only examines whether existing legislation is sufficient to handle the issues raised by international HFIs, but also provides an in-depth analysis of the interaction between corporate financing and tax law in the light of today’s financial innovation. Corporate executives and their counsel will find it indispensable in the international taxation landscape that is currently coming into view, and academics and policymakers will hugely augment their understanding of a complex and constantly changing area of tax law.
Download or read book Structured Products Hybrid Securities written by Satyajit Das and published by Wiley. This book was released on 2001-01-23 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is both a comprehensive introduction to the booming ($200 billion) structured note market, and a practical reference on the mechanics of the structuring process. Readers get detailed coverage of all major types of structured notes across all types of assets. This updated and expanded Second Edition features increased or entirely new coverage of equity linked notes; convertible pricing; credit-linked notes; inflation linked securities; and CAT insurance linked bonds.
Download or read book Equity Hybrid Derivatives written by Marcus Overhaus and published by John Wiley & Sons. This book was released on 2007-02-02 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Take an in-depth look at equity hybrid derivatives. Written by the quantitative research team of Deutsche Bank, the world leader in innovative equity derivative transactions, this book presents leading-edge thinking in modeling, valuing, and hedging for this market, which is increasingly used for investment by hedge funds. You'll gain a balanced, integrated presentation of theory and practice, with an emphasis on understanding new techniques for analyzing volatility and credit derivative transactions linked to equity. In every instance, theory is illustrated along with practical application. Marcus Overhaus, PhD, is Managing Director and Global Head of Quantitative Research and Equity Structuring. Ana Bermudez, PhD, is an Associate in Global Quantitative Research. Hans Buehler, PhD, is a Vice President in Global Quantitative Research. Andrew Ferraris, DPhil, is a Managing Director in Global Quantitative Research. Christopher Jordinson, PhD, is a Vice President in Global Quantitative Research. Aziz Lamnouar, DEA, is a Vice President in Global Quantitative Research. All are associated with Deutsche Bank AG, London.
Download or read book Contingent Convertible Bonds Corporate Hybrid Securities and Preferred Shares written by Marcin Liberadzki and published by Springer. This book was released on 2019-06-17 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a comprehensive guide to the new generation of hybrid securities: subordinated and perpetual bonds with deferrable coupon first issued around 2003, and the youngest member of the hybrids family named CoCos (contingent convertibles) being a product of Basel III or European Union CRD IV regime (2014). Contingent capital constitutes a contractual recapitalization mechanism for troubled financial institutions. An increasing number of European banks have issued CoCo bonds in order to bolster their capital ratios. Following the EU pattern, CoCos issues have become increasingly popular within banks in Asia and the Pacific. The EU regulatory treatment of the contingent convertibles issued by banks and insurers together with bank bail-in instruments is at the forefront of the book. Furthermore, the book provides an overview of hybrids pricing and risk assessment approach and covers the non-voting preferred stocks as another hybrids class.
Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Privacy Preserving Data Mining written by Jaideep Vaidya and published by Springer Science & Business Media. This book was released on 2005-11-29 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privacy preserving data mining implies the "mining" of knowledge from distributed data without violating the privacy of the individual/corporations involved in contributing the data. This volume provides a comprehensive overview of available approaches, techniques and open problems in privacy preserving data mining. Crystallizing much of the underlying foundation, the book aims to inspire further research in this new and growing area. Privacy Preserving Data Mining is intended to be accessible to industry practitioners and policy makers, to help inform future decision making and legislation, and to serve as a useful technical reference.
Download or read book Transnational Companies and Security Governance written by Jana Hönke and published by Routledge. This book was released on 2013-08-21 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates governance practiced by non-state actors. It analyses how multinational mining companies protect their sites in fragile contexts and what that tells us about political ordering 'beyond' the state. Based on extensive primary research in the Democratic Republic of Congo, South Africa, Europe and North America, the book compares companies' political role in the 19th and 21st centuries. It demonstrates that despite a number of disturbing parallels, many contemporary practices are not a reversion to the past but unique to the present. The book discloses hybrid security practices with highly ambiguous effects around the sites of contemporary companies that have committed to norms of corporate social and security responsibility. Companies invest in local communities, and offer human rights training to security forces alongside coercive techniques of fortress protection, and stability-oriented clientele practice and arrangements of indirect rule. The book traces this hybridity back to contradictory collective meaning systems that cross borders and structure the perceptions and choices of company managers, private security officers, NGO collaborators and others practitioners. The book argues that hybrid security practices are not the result of an encounter between a supposed ‘local’ with the liberal ‘global’. Instead, this hybridity is inherent in the transnational and part and parcel of liberal transnational governance. Therefore, more critical reflection of global governance in practice is required. These issues are sharply pertinent to liberal peacebuilding as well as global governance more broadly. The book will be of interest to anyone interested in business, politics and human rights; critical security studies; peacebuilding and statebuilding; African politics; and ethnographic and sociological approaches to global governance and international relations more generally.
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Download or read book The Handbook of Hybrid Securities written by Jan De Spiegeleer and published by John Wiley & Sons. This book was released on 2014-08-06 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introducing a revolutionary new quantitative approach to hybrid securities valuation and risk management To an equity trader they are shares. For the trader at the fixed income desk, they are bonds (after all, they pay coupons, so what's the problem?). They are hybrid securities. Neither equity nor debt, they possess characteristics of both, and carry unique risks that cannot be ignored, but are often woefully misunderstood. The first and only book of its kind, The Handbook of Hybrid Securities dispels the many myths and misconceptions about hybrid securities and arms you with a quantitative, practical approach to dealing with them from a valuation and risk management point of view. Describes a unique, quantitative approach to hybrid valuation and risk management that uses new structural and multi-factor models Provides strategies for the full range of hybrid asset classes, including convertible bonds, preferreds, trust preferreds, contingent convertibles, bonds labeled "additional Tier 1," and more Offers an expert review of current regulatory climate regarding hybrids, globally, and explores likely political developments and their potential impact on the hybrid market The most up-to-date, in-depth book on the subject, this is a valuable working resource for traders, analysts and risk managers, and a indispensable reference for regulators
Download or read book Critical Infrastructure Protection Against Hybrid Warfare Security Related Challenges written by A. Niglia and published by IOS Press. This book was released on 2016-10-12 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hybrid conflicts are characterized by multi-layered efforts to undermine the functioning of the State or polarize society. This book presents results, recommendations and best practices from the NATO Advanced Research Workshop (ARW) "Critical Infrastructure Protection Against Hybrid Warfare Security Related Challenges", held in Stockholm, Sweden, in May 2016. The main objective of this workshop was to help and support NATO in the field of hybrid conflicts by developing a set of tools to deter and defend against adversaries mounting a hybrid offensive. Addressing the current state of critical infrastructure protection (CIP) and the challenges evolving in the region due to non-traditional threats which often transcend national borders – such as cyber attacks, terrorism, and attacks on energy supply – the widely ranging group of international experts who convened for this workshop provided solutions from a number of perspectives to counter the new and emerging challenges affecting the security of modern infrastructure. Opportunities for public-private partnerships in NATO member and partner countries were also identified. The book provides a highly topical resource which identifies common solutions for combating major hazards and challenges – namely cyber attacks, terrorist attacks on energy supply, man-made disasters, information warfare and maritime security risks – and will be of interest to all those striving to maintain stability and avoid adverse effects on the safety and well-being of society.
Download or read book Handbook of Research on Cyber Crime and Information Privacy written by Cruz-Cunha, Maria Manuela and published by IGI Global. This book was released on 2020-08-21 with total page 753 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, industries have transitioned into the digital realm, as companies and organizations are adopting certain forms of technology to assist in information storage and efficient methods of production. This dependence has significantly increased the risk of cyber crime and breaches in data security. Fortunately, research in the area of cyber security and information protection is flourishing; however, it is the responsibility of industry professionals to keep pace with the current trends within this field. The Handbook of Research on Cyber Crime and Information Privacy is a collection of innovative research on the modern methods of crime and misconduct within cyber space. It presents novel solutions to securing and preserving digital information through practical examples and case studies. While highlighting topics including virus detection, surveillance technology, and social networks, this book is ideally designed for cybersecurity professionals, researchers, developers, practitioners, programmers, computer scientists, academicians, security analysts, educators, and students seeking up-to-date research on advanced approaches and developments in cyber security and information protection.
Download or read book Hybrid Adhesive Joints written by Lucas F. M. da Silva and published by Springer Science & Business Media. This book was released on 2011-06-27 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents treat the material science and mechanical issues of hybrid adhesive bonds which are a combination of adhesive bonding rather than mechanical fasteners. The idea of hybrid joints is to gather the advantages of the different techniques leaving out their problems. Some of the advantages of these joints are a higher static and fatigue strength and a higher stiffness with respect to simple joints, a two-stage cracking process before the final failure and improved durability. The book treats all important kinds of joints which are in use today: weld – adhesive, rivet – adhesive, clinch – adhesive, bolt – adhesive, and adhesive – adhesive. A section dedicated to threadlocking and interference-fit adhesive joints is also included. All sections are treated from a scientific point of view with modeling issues supported by simple coupons testing and a technological point of view where the idea is to present more applied results with practical cases.
Download or read book Convertible Securities The Latest Instruments Portfolio Strategies and Valuation Analysis Revised Edition written by John P. Calamos and published by McGraw Hill Professional. This book was released on 1998-06-22 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive book on the subject, Convertible Securities explains the various types of convertible instruments, valuation and pricing methods, and investment strategies. Completely updated from its first edition, this guide includes chapters on international convertibles and asset allocation strategies for the institutional investor.
Download or read book Handbook of Research on Cybersecurity Risk in Contemporary Business Systems written by Adedoyin, Festus Fatai and published by IGI Global. This book was released on 2023-03-27 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of cybersecurity is becoming increasingly important due to the continuously expanding reliance on computer systems, the internet, wireless network standards such as Bluetooth and wi-fi, and the growth of "smart" devices, including smartphones, televisions, and the various devices that constitute the internet of things (IoT). Cybersecurity is also one of the significant challenges in the contemporary world, due to its complexity, both in terms of political usage and technology. The Handbook of Research on Cybersecurity Risk in Contemporary Business Systems examines current risks involved in the cybersecurity of various business systems today from a global perspective and investigates critical business systems. Covering key topics such as artificial intelligence, hacking, and software, this reference work is ideal for computer scientists, industry professionals, policymakers, researchers, academicians, scholars, instructors, and students.
