haku: @author Chatfield, R. E. / yhteensä: 2
viite: 2 / 2
« edellinen | seuraava »
| Tekijä: | Chatfield, R. E. Moyer, R. C. |
| Otsikko: | "Putting" away bond risk : An empirical examination of the value of the put option on bonds. |
| Lehti: | Financial Management
1986 : SUMMER, VOL. 15:2, p. 26-33 |
| Asiasana: | BONDS RISK ANALYSIS SHARE OPTIONS SHAREHOLDERS FINANCIAL MANAGEMENT |
| Kieli: | eng |
| Tiivistelmä: | In response to increased interest rate variability during the 1970s and early 1980s,corporate borrowers have offered investors bonds containing a put feature. The put feature permits the bondholder to present the bond for redemption under certain conditions. The characteristics of put bonds issued between 1974 and 1984 are reviewed. A model is developed to estimate the value of the put feature. The put feature is found to reduce required bond yields by as much as 89 basis points compared to bonds without the put feature,ceteris paribus. |
« edellinen | seuraava »
SCIMA