Ver Nderungen Der Unternehmensfinanzierung Durch Kreditderivate Und Asset Backed Securities
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Ver Nderungen Der Unternehmensfinanzierung Durch Kreditderivate Und Asset Backed Securities
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Author : Martin Schüürmann
language : de
Publisher: diplom.de
Release Date : 2004-06-07
Ver Nderungen Der Unternehmensfinanzierung Durch Kreditderivate Und Asset Backed Securities written by Martin Schüürmann and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-06-07 with Business & Economics categories.
Inhaltsangabe:Einleitung: Die Konjunkturflaute zerrt an den Kapitalreserven und an den Gewinnen der Unternehmen und macht somit eine Innenfinanzierung vielfach unmöglich. Zugleich verfolgen deutsche Banken aufgrund hoher Ausfallquoten, eigener Gewinnproblematik sowie erwarteter Neuregulierung der Eigenkapitalunterlegung im Zuge von Basel II eine deutlich restriktivere Kreditpolitik. Zunehmende Unternehmensinsolvenzen im Mittelstand, die zu Forderungsausfällen anderer Unternehmen führen, sowie die Kollapse einst anerkannter Konzerne wie Enron und Worldcom auf internationaler Ebene oder Kirch Media, Fairchild Dornier, Babcock Borsig in Deutschland führen dazu, dass sich der Markt eines bestehenden Kreditrisikos verstärkt bewusst wird. Deutsche Unternehmen werden somit in zunehmendem Maße gezwungen, nach alternativen Finanzierungsformen zu suchen. Außerdem reift bei ihnen die Erkenntnis, dass zur Sicherung der eigenen Liquidität die mit der Verschlechterung von Bonitäten einhergehenden Risiken eines besseren Risikomanagements bedürfen. In neuerer Zeit kommen daher Kreditderivate und Asset-Backed Securities (ABS), welche vormals hauptsächlich im Bankensektor Verwendung fanden, auch in Unternehmen zum Einsatz. Inwieweit nun Kreditderivate und Asset-Backed Securities die „herkömmliche“ Politik der Finanzierung einer Unternehmung verändern und beeinflussen können, und welche Einsatzmöglichkeiten, Probleme und Risiken sich einer Unternehmung dabei bieten, soll Zielsetzung dieser Arbeit sein. An dieser Stelle sei bereits angemerkt, dass beide Finanzmarktsegmente sich durch eine hohe Gestaltungsvielfalt und Innovationskraft auszeichnen. Die Begriffsabgrenzung und Systematisierung der verschiedenen Produktkategorien ist somit immer ein Prozess, der den Entwicklungen am Markt kontinuierlich anzupassen ist. Bei den folgenden, dieser Arbeit zugrunde liegenden Definitionen, handelt es sich somit lediglich um eine Momentaufnahme sowie subjektive Auswahl einer möglichen Abgrenzung. Kreditderivate und Asset-Backed Securities werden in dieser Arbeit seitens des Verfassers zumeist in ihrer, wie in der Literatur häufig definierten, „engsten Form“ gebraucht und verstanden. Die Arbeit gliedert sich in sechs Kapitel. Dieses Kapitel gibt eine kurze Einführung in die Problemstellung, den Gegenstand sowie die Vorgehensweise der Arbeit. In Kapitel 2 werden dann die Grundlagen für den weiteren Verlauf der Arbeit gelegt, indem Kreditderivate und Asset-Backed Securities [...]
International Convergence Of Capital Measurement And Capital Standards
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Author :
language : en
Publisher: Lulu.com
Release Date : 2004
International Convergence Of Capital Measurement And Capital Standards written by and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Bank capital categories.
How To Find Wisdom
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Author : M. C. Holiday
language : en
Publisher: M. C. Holiday
Release Date : 2019-06-01
How To Find Wisdom written by M. C. Holiday and has been published by M. C. Holiday this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-01 with Philosophy categories.
A TINY THREE PAGE BOOK⠀ Ask yourself; ask your friends: "How is wisdom found?"⠀Here are the steps.⠀Lead the way to wisdom, love, joy and peace.⠀ WISDOM IS FROM EXPERIENCE⠀ A library is knowledge – apart from experience.⠀A soul separated from good experience cannot verify the message of wisdom, purpose and virtue.⠀ Good is known through transforming power.⠀⚡ ⚡ ⚡⠀ The kingdom is not in words – but in power.⠀ ENTER THE KINGDOM ⠀1⠀2⠀3⠀ Learn the steps.⠀Lead experience. ⠀
Bank Competition And Financial Stability
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Author : Mr.Gianni De Nicolo
language : en
Publisher: International Monetary Fund
Release Date : 2011-12-01
Bank Competition And Financial Stability written by Mr.Gianni De Nicolo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-01 with Business & Economics categories.
We study versions of a general equilibrium banking model with moral hazard under either constant or increasing returns to scale of the intermediation technology used by banks to screen and/or monitor borrowers. If the intermediation technology exhibits increasing returns to scale, or it is relatively efficient, then perfect competition is optimal and supports the lowest feasible level of bank risk. Conversely, if the intermediation technology exhibits constant returns to scale, or is relatively inefficient, then imperfect competition and intermediate levels of bank risks are optimal. These results are empirically relevant and carry significant implications for financial policy.
Intermediated Securities
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Author : Pierre-Henri Conac
language : en
Publisher: Cambridge University Press
Release Date : 2013-05-30
Intermediated Securities written by Pierre-Henri Conac and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-30 with Law categories.
In today's financial markets, investors no longer hold securities physically. Instead, securities such as shares or bonds are mostly held through intermediaries and transferred by way of book-entries on securities accounts. However, there are remarkable conceptual differences between the various jurisdictions with regard to the legal treatment of intermediated securities. It is widely agreed that this patchwork creates considerable legal risks, especially in cross-border situations. Two initiatives are in place to reduce these risks. In 2009, the UNIDROIT Convention on Substantive Rules for Intermediated Securities (the 'Geneva Securities Convention') was adopted, aimed at harmonisation on the international level. The EU Commission is also running a legislative project, to achieve harmonisation at the regional level. This book compares both initiatives and analyses their impact on the securities laws of selected European jurisdictions.
Introduction To Securitization
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Author : Frank J. Fabozzi
language : en
Publisher: John Wiley & Sons
Release Date : 2008-06-06
Introduction To Securitization written by Frank J. Fabozzi and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-06-06 with Business & Economics categories.
Introduction to Securitization outlines the basics of securitization, addressing applications for this technology to mortgages, collateralized debt obligations, future flows, credit cards, and auto loans. The authors present a comprehensive overview of the topic based on the experience they have gathered through years of interaction with practitioners and graduate students around the world. The authors offer coverage of such key topics as: structuring agency MBS deals and nonagency deals, credit enhancements and sizing, using interest rate derivatives in securitization transactions, asset classes securitized, operational risk factors, implications for financial markets, and applying securitization technology to CDOs. Finally, in the appendices, the authors provide an essential introduction to credit derivatives, an explanation of the methodology for the valuation of MBS/ABS, and the estimation of interest rate risk. Securitization is a financial technique that pools assets together and, in effect, turns them into a tradable security. The end result of a securitization transaction is that a corporation can obtain proceeds by selling assets and not borrowing funds. In real life, many securitization structures are quite complex and enigmatic for practitioners, investors, and finance students. Typically, books detailing this topic are either too lengthy, too technical, or too superficial in their presentation. Introduction to Securitization is the first to offer essential information on this topic at a fundamental, yet comprehensive level-providing readers with a working understanding of what has become one of today's most important areas of finance. Authors Frank Fabozzi and Vinod Kothari, internationally recognized experts in the field, clearly define securitization, contrast it with corporate finance, and explain its advantages. They carefully illustrate the structuring of asset-backed securities (ABS) transactions, including agency mortgage-backed securities (MBS) deals and nonagency deals, and show the use of credit enhancements and interest rate derivatives in such transactions. They review the collateral classes in ABS, such as retail loans, credit cards, and future flows, and discuss ongoing funding vehicles such as asset-backed commercial paper conduits and other structured vehicles. And they explain the different types of collateralized debt obligations (CDOs) and structured credit, detailing their structuring and analysis. To complement the discussion, an introduction to credit derivatives is also provided. The authors conclude with a close look at securitization's impact on the financial markets and the economy, with a review of the now well-documented problems of the securitization of one asset class: subprime mortgages. While questions about the contribution of securitization have been tainted by the subprime mortgage crisis, it remains an important process for corporations, municipalities, and government entities seeking funding. The significance of this financial innovation is that it has been an important form of raising capital for corporations and government entities throughout the world, as well as a vehicle for risk management. Introduction to Securitization offers practitioners and students a simple and comprehensive entry into the interesting world of securitization and structured credit.
Republic Of Poland
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Author : International Monetary Fund
language : en
Publisher:
Release Date : 1997
Republic Of Poland written by International Monetary Fund and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Finance, Public categories.
Automotive Management
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Author : Jens Diehlmann
language : en
Publisher: Walter de Gruyter
Release Date : 2013-12-09
Automotive Management written by Jens Diehlmann and has been published by Walter de Gruyter this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-09 with Business & Economics categories.
The authors point out the entire business orientated automotive value chain. With regard to the finance perspective the elements of the value chain are scrutinized chapter by chapter. Current trends in new mobility concepts, cross-industry strategic alliances as well as requirements for product launch, especially in the BRIC countries, are highlighted. The book provides the link between science and business practice in the automotive industry. It can be used as a textbook. Many practitioners might also use it as a guideline in the field of automotive management.
Hitler S Banker
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Author : John Weitz
language : en
Publisher:
Release Date : 1998
Hitler S Banker written by John Weitz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Bankers categories.
HITLER'S BANKER is a full-scale biography of Hjalmar Schacht, one of history's premier financial wizards. Chief Architect of the Nazi economy, Schacht's rampant inflation financed the creation of the most powerful war machine in Europe out of the rubble of a devastated Weimar Republic. Weitz chronicles Schacht's early life and his meteoric success in the international banking world, deftly juxtaposing the twentieth-century history of Germany itself. HITLER'S BANKER is the riveting life story of a man imprisoned by Hitler because of his anti-Nazi sentiments and charged as a war criminal by the Allies. Exonerated of all charges at Nuremberg, Schacht lived to become a successful author and economic adviser to foreign nations, and a wealthy private banker.
The Law Of Crypto Assets
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Author : Philipp Maume
language : en
Publisher: Beck/Hart/Nomos
Release Date : 2022-06-02
The Law Of Crypto Assets written by Philipp Maume and has been published by Beck/Hart/Nomos this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-02 with Law categories.
Essential and expert guide to the global regulatory landscape in the field of crypto assets