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How Do Experienced Users Evaluate Hybrid Financial Instruments
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Book Synopsis How Do Experienced Users Evaluate Hybrid Financial Instruments? by : Shana Clor-Proell
Download or read book How Do Experienced Users Evaluate Hybrid Financial Instruments? written by Shana Clor-Proell and published by . This book was released on 2016 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hybrid financial instruments contain features of both liabilities and equity. Standard setters continue to struggle with “getting the classification right” for these complex instruments. In this paper, we experimentally test whether the features of hybrid instruments affect the credit-related judgments of experienced finance professionals, even when the hybrid instruments are already classified as liabilities or equity. Our results suggest that getting the classification right is not of primary importance for these experienced users, as they largely rely on the underlying features of the instrument to make their judgments. A second experiment shows that experienced users' reliance on features generalizes to several features that often characterize hybrid instruments. However, we also find that experienced users vary in their beliefs about which individual features are most important in distinguishing between liabilities and equity. Together, our results highlight the importance of effective disclosure of hybrid instruments' features.
Book Synopsis Hybrid Financial Instruments by : Tony Rice
Download or read book Hybrid Financial Instruments written by Tony Rice and published by . This book was released on 1993 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Hybrid Financial Instruments, Cost of Capital and Regulatory Arbitrage - an Empirical Investigation by : Tyrone M. Carlin
Download or read book Hybrid Financial Instruments, Cost of Capital and Regulatory Arbitrage - an Empirical Investigation written by Tyrone M. Carlin and published by . This book was released on 2006 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Data recently published by the Reserve Bank of Australia clearly demonstrates that after a period in abeyance, hybrid financial instruments have again become popular tools for capital raising and management. This raises several questions of practical and theoretical significance, particularly in relation to the motivation for adopting hybrid instruments as an element of firm capital structure, and the impact of putting this choice into effect. In this paper, we examine two key themes. First, we analyse the extent to which the rise of hybrid instruments can be justified on the grounds that the use of these instruments can result in lower firm cost of capital. We also investigate the impact on firm financial reports and key metrics of financial performance of risk which result from the deployment of hybrid financial instruments as components of firm capital structure. We conclude by expressing scepticism as to the proposition that the use of hybrid instruments systematically lowers issuer cost of capital, and argue that the use of hybrid instruments has caused material distortions to emerge within the financial statements of firms which employ them.
Book Synopsis Microfoundations of Institutions by : Patrick Haack
Download or read book Microfoundations of Institutions written by Patrick Haack and published by Emerald Group Publishing. This book was released on 2019-11-25 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: The notion of microfoundations has received growing interest in neo-institutional theory along with an increasing interest in microfoundational research in disciplines such as strategic management and organizational economics.
Book Synopsis Handbook of Hybrid Instruments by : Israel Nelken
Download or read book Handbook of Hybrid Instruments written by Israel Nelken and published by John Wiley & Sons. This book was released on 2000-07-26 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: An indispensable tool to steer readers thought the complex maze of hybrid instruments! Hybrid instruments - essentially bonds with an equity component - are found in a multitude of guises. This generic heading encompasses a seemingly endless array of financial instruments, including convertible bonds, mandatory convertibles, reverse convertibles, preferred shares, ELKS, DECS and Lyons. Within each one of these instruments are found a wide range of variations and features. These include reset, negative pledge, screw and forced conversion clauses, as well as step up coupons, call schedules, call options with soft and hard protection etc. The range of possibilities can seem bewildering, but it is this very flexibility which proves a huge attraction for investors, issuers and financial institutions. On the sell side companies issue these securities and corporate service departments advise on the type of options to include in them. On the buy side, investment managers seek to build portfolios with limited risk exposure using these securities and hedge funds utilise arbitrage opportunities between the convertible bond and the common share. The opportunities are endless but the seemingly labyrinthine complexities can prove daunting. The Handbook of Hybrid Instruments helps steer a clear path through the maze. Izzy Nelken has drawn together a team of experts to provide in-depth analysis of many of the key issues that both sellers and buyers require in order to operate effectively and profitably. A general introduction is followed by specific information on key clauses and variations, valuation methods, the impact on a firm's value following the public issuance of convertibles, details on when an issuer should call a convertible and the impact of these provisions on the price, the difficult requirement of input data to make sense of the models, indexes and reset convertibles. Finally, a highly useful glossary is provided of all the key terms used in this field. An analytical CD is also provided with the book, containing sample software of ConvB++. ConvB++ combines complex state of the art models with a simple, user friendly interface to assess fair values prices and to hedge parameters of hybrid instruments. The Handbook of Hybrid Instruments is an indispensable explanatory and analytical tool for all professionals looking for the latest thinking on convertibles from some of the world's leading experts.
Book Synopsis Advanced Hybrid Information Processing by : Lin Yun
Download or read book Advanced Hybrid Information Processing written by Lin Yun and published by Springer Nature. This book was released on with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Hybrid Financial Instrument by : Indrajit Dube
Download or read book Hybrid Financial Instrument written by Indrajit Dube and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In cross-border transactions, the companies try to take advantage of the difference in tax policies of various jurisdictions with the use of hybrid instruments which take into account share ownership, capital markets, and business culture. The instruments are designed in such a way that they are treated as debt in one jurisdiction and as equity in the other to take advantages of both the categories. This article takes three parameters, i.e. tax, corporate governance and future access to capital in the design of the hybrid financial instrument.
Book Synopsis Towards a Hybrid, Flexible and Socially Engaged Higher Education by : Michael E. Auer
Download or read book Towards a Hybrid, Flexible and Socially Engaged Higher Education written by Michael E. Auer and published by Springer Nature. This book was released on with total page 541 pages. Available in PDF, EPUB and Kindle. Book excerpt: Zusammenfassung: We are currently witnessing a significant transformation in the development of education on all levels and especially in post-secondary education. To face these challenges, higher education must find innovative and effective ways to respond in a proper way. The pandemic period left us with profound changes in the way we teach and learn, including the massive use of new means of communication, such as videoconferencing and other technological tools. Moreover, the current explosion of artificial intelligence tools, mainly used by students, is challenging teaching practices maintained for centuries. Scientifically based statements as well as excellent best practice examples are absolutely necessary.The 26th International Conference on Interactive Collaborative Learning (ICL2023), which will take place in Madrid, Spain, between 26th and 30th September 2023, will be the perfect place where to present and discuss current trends in Higher Education. Since its beginning in 1998 this conference is devoted to new approaches in learning with a focus on collaborative learning in Higher Education. Nowadays the ICL conferences are a forum of the exchange of relevant trends and research results as well as the presentation of practical experiences in Learning and Engineering Pedagogy. In this way we try to bridge the gap between 'pure' scientific research and the everyday work of educators
Book Synopsis Assessment and Evaluation by : Dr. Bijumon George
Download or read book Assessment and Evaluation written by Dr. Bijumon George and published by Sankalp Publication. This book was released on with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Introduction to Marketing by : Adrian Palmer
Download or read book Introduction to Marketing written by Adrian Palmer and published by Oxford University Press. This book was released on 2012-03-29 with total page 575 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new, innovative textbook provides a highly accessible introduction to the principles of marketing, presenting a theoretical foundation and illustrating the application of the theory through a wealth of case studies.
Book Synopsis Do Hybrid Instruments Lower the Firm Cost of Capital? by : Guy Ford
Download or read book Do Hybrid Instruments Lower the Firm Cost of Capital? written by Guy Ford and published by . This book was released on 2006 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: The issue of hybrid instruments by firms is often justified on the grounds that these instruments allow issuers to achieve a lower cost of capital than would be the case under issues of straight debt and equity. In order to assess the validity of such claims it is necessary to examine the economic impact of hybrid instruments on the issuing company. If a firm can genuinely achieve a lower cost of capital than would otherwise be the case with the issue of either straight debt or equity, we argue that this is directly linked to regulatory (reporting) arbitrage, rather than the outcome of financial synergy that arises when debt, equity and option instruments are combined to form a hybrid security. We evaluate the argument that hybrid structures lower the cost of capital from an opportunity cost and risk perspective. We focus our analysis on two main structures: convertible debt and reset preference shares.
Book Synopsis Ergodesign Methodology for Product Design by : Marcelo M. Soares
Download or read book Ergodesign Methodology for Product Design written by Marcelo M. Soares and published by CRC Press. This book was released on 2021-10-28 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a co-design detailed methodology that will enable the reader to develop human-centered product designs, considering the user’s needs, skills, and limitations. The purpose of this book is to produce an ergonomic design methodology in which the "user’s voice" can be translated into product requirements in a way that designers and manufacturers can use, characterizing it as a co-design methodology. It discusses important topics including ergonomics and product design, design specifications, project evaluation, modeling and prototyping, product safety, human error, kansei/affective engineering, usability and user experience, models of usability, methods for research and evaluation of usability, methods for evaluation of user-experience, preliminary strategic design planning, detailing design, and design, ergonomic and pandemics. The book offers a human-centered design methodology that allows the reader to carry out analysis and design projects for both products aimed at the disabled user population and those that serve the general population. It will be a valuable reference text for undergraduate and graduate students and professionals in the fields of ergonomics, design, architecture, engineering, and related fields. It can also be used by students and professionals of physiotherapy and occupational therapy interested in designing products for people with special needs.
Book Synopsis Design, User Experience, and Usability. Practice and Case Studies by : Aaron Marcus
Download or read book Design, User Experience, and Usability. Practice and Case Studies written by Aaron Marcus and published by Springer. This book was released on 2019-07-10 with total page 659 pages. Available in PDF, EPUB and Kindle. Book excerpt: The four-volume set LNCS 11583, 11584, 11585, and 11586 constitutes the proceedings of the 8th International Conference on Design, User Experience, and Usability, DUXU 2019, held as part of the 21st International Conference, HCI International 2019, which took place in Orlando, FL, USA, in July 2019. The total of 1274 papers and 209 posters included in the 35 HCII 2019 proceedings volumes was carefully reviewed and selected from 5029 submissions. DUXU 2019 includes a total of 167 regular papers, organized in the following topical sections: design philosophy; design theories, methods, and tools; user requirements, preferences emotions and personality; visual DUXU; DUXU for novel interaction techniques and devices; DUXU and robots; DUXU for AI and AI for DUXU; dialogue, narrative, storytelling; DUXU for automated driving, transport, sustainability and smart cities; DUXU for cultural heritage; DUXU for well-being; DUXU for learning; user experience evaluation methods and tools; DUXU practice; DUXU case studies.
Book Synopsis EBOOK: Principles of Services Marketing by : Adrian Palmer
Download or read book EBOOK: Principles of Services Marketing written by Adrian Palmer and published by McGraw Hill. This book was released on 2013-01-16 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now in its seventh edition, Principles of Services Marketing has been revised and updated throughout toreflect the most recent developments in this fast-moving and exciting sector. With a stronger emphasis onemerging and global economies, it’s been restructured to give clearer focus on key issues of efficiency,accessibility and customer experience. This authoritative text develops an indispensable framework forunderstanding services, their effective marketing and how this drives value creation. Key Features •Opening vignettes introduce a chapter’s key themes with short examples that present topics in familiar, everyday scenarios students can relate to •Longer case studies feature well-known companies and provide an opportunity to analyse real-life scenarios and apply understanding •‘In Practice’ vignettes drawn from services organizations from around the world and how services are delivered and experienced by customers •‘Thinking Around the Subject’ boxes examine the operational challenges of putting theory in to practice •‘Summary & links to other chapters’ reinforce the main topics covered and how they fit within the wider context of services marketing to improve overall understanding of the subject •Expanded coverage of key topics such as service dominant logic, servicescapes and the use of social media explore the latest theory and practice •Reflects the importance of marketing for public services and not-for-profit organizations •Includes new chapters on service systems and the experiential aspects of service consumption.
Book Synopsis Financial Instruments with Characteristics of Equity by :
Download or read book Financial Instruments with Characteristics of Equity written by and published by . This book was released on 2018 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Advanced Strategies in Financial Risk Management by : Robert J. Schwartz
Download or read book Advanced Strategies in Financial Risk Management written by Robert J. Schwartz and published by Prentice Hall. This book was released on 1993 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: Readers will learn how to evaluate interest rate and currency risks; gain insight into futures, forwards, swaps and options; and see how to better manage assets and liabilities. Expert guidance is provided on how to employ swaps and hybrid investments to manage corporate liabilities and protect against default risk. There is also a thorough analysis of innovative applications of financial engineering to new products and advanced techniques to hedge business cycle risk.
Book Synopsis Symposium on Real-Time and Hybrid Systems by : Cliff Jones
Download or read book Symposium on Real-Time and Hybrid Systems written by Cliff Jones and published by Springer. This book was released on 2018-09-28 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is published in honor of Professor Chaochen Zhou’s 80th birthday. The Festschrift contains 13 refereed papers by leading researchers who were among the participants of the celebratory conference in Changsha, China that took place in October 2017. The papers cover a broad spectrum of subjects related to Formal Methods for the development of computer systems. Topics include Probabilistic Programming, Concurrency, Quantum Computing, Domain Engineering, Real-time and Hybrid Systems, and Cloud Computing. Chaochen Zhou is internationally recognized for his own contributions and for the wide influence that he has had through his appointments in Oxford (UK) where he collaborated with Professor Tony Hoare, Lyngby (Denmark) where he worked with Professor Dines Bjørner, UNU-IIST (Macau) where he moved from being Principal Research Fellow to his appointed as Director of the Institute, as well as in Beijing. His book on the Duration Calculus (joint with Michael Hansen) made a seminal contribution to specifying and reasoning about real-time systems. Chaochen Zhou’s contributions have been marked by his election as a member of the Chinese Academy of Sciences.
