Collateralized Debt Obligations | First Loss Piece Retention, Combination Notes, and Tranching

Albert Schaber

ISBN 10: 3631587953 / ISBN 13: 9783631587959

Edité par Peter Lang, 2009

Collateralized Debt Obligations | First Loss Piece Retention, Combination Notes, and Tranching | Albert Schaber | Taschenbuch | Englisch | Peter Lang | EAN 9783631587959 | Verantwortliche Person für die EU: Zeitfracht Medien GmbH, Ferdinand-Jühlke-Str. 7, 99095 Erfurt, produktsicherheit[at]zeitfracht[dot]de | Anbieter: preigu. N° de réf. du vendeur 103802124

Synopsis :

This book offers insights into three different aspects of Collateralized Debt Obligations (CDOs). The first section covers a mechanism that explains the sale of first loss positions to investors. The theoretical model is based on a repeated game and focuses on the role of issuer reputation. The second section empirically analyzes combination notes. These are a particular type of security issued in CDOs, consisting of parts of different tranches of one CDO transaction. The findings show that combination notes are used as an equity transfer vehicle and that their tranching caters to segmented demand. The third section finally analyzes the tranching of CDOs. A transaction cost-based hypothesis of tranching is proposed and verified empirically.

À propos de l'auteur: The Author : Albert Schaber studied business administration at the Ludwig-Maximilians-University Munich (LMU) with stays abroad at the EMLYON Business School and the University of California at Berkeley. Having completed his studies he joined the Institute of Capital Market Research and Finance at LMU Munich as a research assistant. He currently works as a consultant in the financial services industry.

Détails bibliographiques

Titre : Collateralized Debt Obligations | First Loss...
Éditeur : Peter Lang
Date d'édition : 2009
Reliure : Taschenbuch
Etat : Neu