The Handbook Of Hybrid Securities

Download The Handbook Of Hybrid Securities full books in PDF, epub, and Kindle. Read online The Handbook Of Hybrid Securities ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

The Handbook of Hybrid Securities

Author : Jan De Spiegeleer
Publisher : John Wiley & Sons
ISBN 13 : 1118449991
Total Pages : 421 pages
Book Rating : 4.1/5 (184 download)

DOWNLOAD NOW!

Book Synopsis The Handbook of Hybrid Securities by : Jan De Spiegeleer

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

Hybrid Securities

Author : Kamil Liberadzki
Publisher : Springer
ISBN 13 : 113758971X
Total Pages : 224 pages
Book Rating : 4.1/5 (375 download)

DOWNLOAD NOW!

Book Synopsis Hybrid Securities by : Kamil Liberadzki

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 224 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.

Handbook of Hybrid Instruments

Author : Israel Nelken
Publisher : John Wiley & Sons
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.3/5 ( download)

DOWNLOAD NOW!

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.

The Use of Hybrid Securities

Author : Benjamin Kleidt
Publisher : Springer Science & Business Media
ISBN 13 : 3835090771
Total Pages : 181 pages
Book Rating : 4.8/5 (35 download)

DOWNLOAD NOW!

Book Synopsis The Use of Hybrid Securities by : Benjamin Kleidt

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.

Structured Products & Hybrid Securities

Author : Satyajit Das
Publisher : Wiley
ISBN 13 : 9780471847755
Total Pages : 0 pages
Book Rating : 4.8/5 (477 download)

DOWNLOAD NOW!

Book Synopsis Structured Products & Hybrid Securities by : Satyajit Das

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.

Handbook of Hybrid Systems Control

Author : Jan Lunze
Publisher : Cambridge University Press
ISBN 13 : 0521765056
Total Pages : 583 pages
Book Rating : 4.5/5 (217 download)

DOWNLOAD NOW!

Book Synopsis Handbook of Hybrid Systems Control by : Jan Lunze

Download or read book Handbook of Hybrid Systems Control written by Jan Lunze and published by Cambridge University Press. This book was released on 2009-10-15 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sets out core theory and reviews new methods and applications to show how hybrid systems can be modelled and understood.

The Handbook of Fixed Income Securities, Chapter 60 - Convertible Securities and Their Valuation

Author : Frank Fabozzi
Publisher : McGraw Hill Professional
ISBN 13 : 0071715509
Total Pages : 53 pages
Book Rating : 4.0/5 (717 download)

DOWNLOAD NOW!

Book Synopsis The Handbook of Fixed Income Securities, Chapter 60 - Convertible Securities and Their Valuation by : Frank Fabozzi

Download or read book The Handbook of Fixed Income Securities, Chapter 60 - Convertible Securities and Their Valuation written by Frank Fabozzi and published by McGraw Hill Professional. This book was released on 2005-04-15 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: From The Handbook of Fixed Income Securities--the most authoritative, widely read reference in the global fixed income marketplace--comes this sample chapter. This comprehensive survey of current knowledge features contributions from leading academics and practitioners and is not equaled by any other single sourcebook. Now, the thoroughly revised and updated seventh edition gives you the facts and formulas you need to compete in today's transformed marketplace. It places increased emphasis on applications, electronic trading, and global portfolio management.

Handbook of Fixed-Income Securities

Author : Pietro Veronesi
Publisher : John Wiley & Sons
ISBN 13 : 1118709195
Total Pages : 630 pages
Book Rating : 4.1/5 (187 download)

DOWNLOAD NOW!

Book Synopsis Handbook of Fixed-Income Securities by : Pietro Veronesi

Download or read book Handbook of Fixed-Income Securities written by Pietro Veronesi and published by John Wiley & Sons. This book was released on 2016-04-04 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to the current theories and methodologies intrinsic to fixed-income securities Written by well-known experts from a cross section of academia and finance, Handbook of Fixed-Income Securities features a compilation of the most up-to-date fixed-income securities techniques and methods. The book presents crucial topics of fixed income in an accessible and logical format. Emphasizing empirical research and real-life applications, the book explores a wide range of topics from the risk and return of fixed-income investments, to the impact of monetary policy on interest rates, to the post-crisis new regulatory landscape. Well organized to cover critical topics in fixed income, Handbook of Fixed-Income Securities is divided into eight main sections that feature: • An introduction to fixed-income markets such as Treasury bonds, inflation-protected securities, money markets, mortgage-backed securities, and the basic analytics that characterize them • Monetary policy and fixed-income markets, which highlight the recent empirical evidence on the central banks’ influence on interest rates, including the recent quantitative easing experiments • Interest rate risk measurement and management with a special focus on the most recent techniques and methodologies for asset-liability management under regulatory constraints • The predictability of bond returns with a critical discussion of the empirical evidence on time-varying bond risk premia, both in the United States and abroad, and their sources, such as liquidity and volatility • Advanced topics, with a focus on the most recent research on term structure models and econometrics, the dynamics of bond illiquidity, and the puzzling dynamics of stocks and bonds • Derivatives markets, including a detailed discussion of the new regulatory landscape after the financial crisis and an introduction to no-arbitrage derivatives pricing • Further topics on derivatives pricing that cover modern valuation techniques, such as Monte Carlo simulations, volatility surfaces, and no-arbitrage pricing with regulatory constraints • Corporate and sovereign bonds with a detailed discussion of the tools required to analyze default risk, the relevant empirical evidence, and a special focus on the recent sovereign crises A complete reference for practitioners in the fields of finance, business, applied statistics, econometrics, and engineering, Handbook of Fixed-Income Securities is also a useful supplementary textbook for graduate and MBA-level courses on fixed-income securities, risk management, volatility, bonds, derivatives, and financial markets. Pietro Veronesi, PhD, is Roman Family Professor of Finance at the University of Chicago Booth School of Business, where he teaches Masters and PhD-level courses in fixed income, risk management, and asset pricing. Published in leading academic journals and honored by numerous awards, his research focuses on stock and bond valuation, return predictability, bubbles and crashes, and the relation between asset prices and government policies.

Exempt and Hybrid Securities Offerings

Author : Anna T. Pinedo
Publisher :
ISBN 13 : 9781402416941
Total Pages : 0 pages
Book Rating : 4.4/5 (169 download)

DOWNLOAD NOW!

Book Synopsis Exempt and Hybrid Securities Offerings by : Anna T. Pinedo

Download or read book Exempt and Hybrid Securities Offerings written by Anna T. Pinedo and published by . This book was released on 2011-11-16 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of exempt and hybrid securities offerings has become increasingly popular in the past decade. This title provides you with comprehensive guidance on how to structure them. Packed with checklists, transactional timelines, SEC guidance, and a wealth of labor-saving sample documents, the second edition of Exempt and Hybrid Securities Offerings shows you the relative advantages and drawbacks of the most commonly used forms of exempt and hybrid offerings, while clearly explaining the mechanics of conducting venture private placements - traditional PIPE transactions - structured PIPE transactions - institutional (debt) private placements - Rule 144A offerings - Regulation S offerings - expedited shelf takedowns - registered directs - at-the-market offerings - confidentially marketed public offerings - and continuous issuance programs, including MTN and CP programs. This comprehensive three-volume treatise is completely updated to integrate the impact of the Dodd-Frank Act and other regulatory changes resulting from the recent financial downturn.

Contingent Convertible Bonds, Corporate Hybrid Securities and Preferred Shares

Author : Marcin Liberadzki
Publisher : Springer
ISBN 13 : 3319925016
Total Pages : 229 pages
Book Rating : 4.3/5 (199 download)

DOWNLOAD NOW!

Book Synopsis Contingent Convertible Bonds, Corporate Hybrid Securities and Preferred Shares by : Marcin Liberadzki

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 229 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.

The Handbook of Convertible Bonds

Author : Jan De Spiegeleer
Publisher : Wiley
ISBN 13 : 9780470689684
Total Pages : 400 pages
Book Rating : 4.6/5 (896 download)

DOWNLOAD NOW!

Book Synopsis The Handbook of Convertible Bonds by : Jan De Spiegeleer

Download or read book The Handbook of Convertible Bonds written by Jan De Spiegeleer and published by Wiley. This book was released on 2011-03-14 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a complete guide to the pricing and risk management of convertible bond portfolios. Convertible bonds can be complex because they have both equity and debt like features and new market entrants will usually find that they have either a knowledge of fixed income mathematics or of equity derivatives and therefore have no idea how to incorporate credit and equity together into their existing pricing tools. Part I of the book covers the impact that the 2008 credit crunch has had on the markets, it then shows how to build up a convertible bond and introduces the reader to the traditional convertible vocabulary of yield to put, premium, conversion ratio, delta, gamma, vega and parity. The market of stock borrowing and lending will also be covered in detail. Using an intuitive approach based on the Jensen inequality, the authors will also show the advantages of using a hybrid to add value - pre 2008, many investors labelled convertible bonds as 'investing with no downside', there are of course plenty of 2008 examples to prove that they were wrong. The authors then go onto give a complete explanation of the different features that can be embedded in convertible bond. Part II shows readers how to price convertibles. It covers the different parameters used in valuation models: credit spreads, volatility, interest rates and borrow fees and Maturity. Part III covers investment strategies for equity, fixed income and hedge fund investors and includes dynamic hedging and convertible arbitrage. Part IV explains the all important risk management part of the process in detail. This is a highly practical book, all products priced are real world examples and numerical examples are not limited to hypothetical convertibles. It is a must read for anyone wanting to safely get into this highly liquid, high return market.

Equity Hybrid Derivatives

Author : Marcus Overhaus
Publisher : John Wiley & Sons
ISBN 13 : 0471770582
Total Pages : 337 pages
Book Rating : 4.4/5 (717 download)

DOWNLOAD NOW!

Book Synopsis Equity Hybrid Derivatives by : Marcus Overhaus

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.

Handbook on Hybrid Organisations

Author : David Billis
Publisher : Edward Elgar Publishing
ISBN 13 : 1785366114
Total Pages : 576 pages
Book Rating : 4.7/5 (853 download)

DOWNLOAD NOW!

Book Synopsis Handbook on Hybrid Organisations by : David Billis

Download or read book Handbook on Hybrid Organisations written by David Billis and published by Edward Elgar Publishing. This book was released on 2020-02-28 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hybrid Organisations – that integrate competing organisational principles – have become a preferred means of tackling the complexity of today's societal problems. One familiar set of examples are organisations that combine significant features from market, public and third sector organisations. Many different groundbreaking approaches to hybridity are contained in this Handbook, which brings together a collection of empirical studies from an international body of scholars. The chapters analyse and theorise the position of hybrid organisations and have important implications for theory, practice and policy in a context of proliferating hybrid forms of organisation.

Exempt and Hybrid Securities Offerings

Author : Anna T. Pinedo
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (762 download)

DOWNLOAD NOW!

Book Synopsis Exempt and Hybrid Securities Offerings by : Anna T. Pinedo

Download or read book Exempt and Hybrid Securities Offerings written by Anna T. Pinedo and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Convertible Arbitrage

Author : Nick P. Calamos
Publisher : John Wiley & Sons
ISBN 13 : 1118045661
Total Pages : 306 pages
Book Rating : 4.1/5 (18 download)

DOWNLOAD NOW!

Book Synopsis Convertible Arbitrage by : Nick P. Calamos

Download or read book Convertible Arbitrage written by Nick P. Calamos and published by John Wiley & Sons. This book was released on 2011-01-19 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Minimize risk and maximize profits with convertible arbitrage Convertible arbitrage involves purchasing a portfolio of convertible securities-generally convertible bonds-and hedging a portion of the equity risk by selling short the underlying common stock. This increasingly popular strategy, which is especially useful during times of market volatility, allows individuals to increase their returns while decreasing their risks. Convertible Arbitrage offers a thorough explanation of this unique investment strategy. Filled with in-depth insights from an expert in the field, this comprehensive guide explores a wide range of convertible topics. Readers will be introduced to a variety of models for convertible analysis, "the Greeks," as well as the full range of hedges, including titled and leveraged hedges, as well as swaps, nontraditional hedges, and option hedging. They will also gain a firm understanding of alternative convertible structures, the use of foreign convertibles in hedging, risk management at the portfolio level, and trading and hedging risks. Convertible Arbitrage eliminates any confusion by clearly differentiating convertible arbitrage strategy from other hedging techniques such as long-short equity, merger and acquisition arbitrage, and fixed-income arbitrage. Nick Calamos (Naperville, IL) oversees research and portfolio management for Calamos Asset Management, Inc. Since 1983 his experience has centered on convertible securities investment. He received his undergraduate degree in economics from Southern Illinois University and an MS in finance from Northern Illinois University.

The Handbook of Convertible Bonds

Author : Jan De Spiegeleer
Publisher : John Wiley & Sons
ISBN 13 : 1119978068
Total Pages : 400 pages
Book Rating : 4.1/5 (199 download)

DOWNLOAD NOW!

Book Synopsis The Handbook of Convertible Bonds by : Jan De Spiegeleer

Download or read book The Handbook of Convertible Bonds written by Jan De Spiegeleer and published by John Wiley & Sons. This book was released on 2011-07-07 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a complete guide to the pricing and risk management of convertible bond portfolios. Convertible bonds can be complex because they have both equity and debt like features and new market entrants will usually find that they have either a knowledge of fixed income mathematics or of equity derivatives and therefore have no idea how to incorporate credit and equity together into their existing pricing tools. Part I of the book covers the impact that the 2008 credit crunch has had on the markets, it then shows how to build up a convertible bond and introduces the reader to the traditional convertible vocabulary of yield to put, premium, conversion ratio, delta, gamma, vega and parity. The market of stock borrowing and lending will also be covered in detail. Using an intuitive approach based on the Jensen inequality, the authors will also show the advantages of using a hybrid to add value - pre 2008, many investors labelled convertible bonds as 'investing with no downside', there are of course plenty of 2008 examples to prove that they were wrong. The authors then go onto give a complete explanation of the different features that can be embedded in convertible bond. Part II shows readers how to price convertibles. It covers the different parameters used in valuation models: credit spreads, volatility, interest rates and borrow fees and Maturity. Part III covers investment strategies for equity, fixed income and hedge fund investors and includes dynamic hedging and convertible arbitrage. Part IV explains the all important risk management part of the process in detail. This is a highly practical book, all products priced are real world examples and numerical examples are not limited to hypothetical convertibles. It is a must read for anyone wanting to safely get into this highly liquid, high return market.

The Handbook of Mortgage-Backed Securities, 7th Edition

Author : Frank J. Fabozzi
Publisher : Oxford University Press
ISBN 13 : 0191088773
Total Pages : 864 pages
Book Rating : 4.1/5 (91 download)

DOWNLOAD NOW!

Book Synopsis The Handbook of Mortgage-Backed Securities, 7th Edition by : Frank J. Fabozzi

Download or read book The Handbook of Mortgage-Backed Securities, 7th Edition written by Frank J. Fabozzi and published by Oxford University Press. This book was released on 2016-08-11 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of The Handbook of Mortgage-Backed Securities, the first revision following the subprime mortgage crisis, is designed to provide not only the fundamentals of these securities and the investment characteristics that make them attractive to a broad range of investors, but also extensive coverage on the state-of-the-art strategies for capitalizing on the opportunities in this market. The book is intended for both the individual investor and the professional manager. The volume includes contributions from a wide range of experts most of whom have been actively involved in the evolution of the mortgage-backed securities market.