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Journal of Financial Economics, 1985
Abstract This paper analyzes the pricing of two types of secured debt and shows that secured debt can be used to increase the value of the firm. In particular, it is shown that some profitable projects will not be undertaken by a firm which can use only equity or unsecured debt to finance them but will be undertaken if they can be financed with ...
RenéM. Stulz, Herb Johnson
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Abstract This paper analyzes the pricing of two types of secured debt and shows that secured debt can be used to increase the value of the firm. In particular, it is shown that some profitable projects will not be undertaken by a firm which can use only equity or unsecured debt to finance them but will be undertaken if they can be financed with ...
RenéM. Stulz, Herb Johnson
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Are Securities Secure: Study of the Influence of the International Debt Securities on the Economic Growth [PDF]
CEUR Workshop Proceedings, Vol-1000: Proceedings of the 9th International Conference on ICT in Education, Research and Industrial Applications: Integration, Harmonization and Knowledge Transfer, 2013 The paper studies the interdependence of the amount of international debt securities, amounts outstanding by country (borrowers) and the GDP growth by country. The author have chosen 34 countries, that represent every region included in the BIS classification, that is developed countries, offshore centers, developing Europe, Latin America, Asia and the
Darya Bonda, Sergey Mazol
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SSRN Electronic Journal, 2019
ABSTRACTThe share of secured debt issued (as a fraction of total corporate debt) declined steadily in the United States over the twentieth century. This stems partly from financial development giving creditors greater confidence that high‐quality borrowers will respect their claims even if creditors do not obtain security upfront.
EFRAIM BENMELECH +2 more
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ABSTRACTThe share of secured debt issued (as a fraction of total corporate debt) declined steadily in the United States over the twentieth century. This stems partly from financial development giving creditors greater confidence that high‐quality borrowers will respect their claims even if creditors do not obtain security upfront.
EFRAIM BENMELECH +2 more
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2007
Abstract The legal life of the debt (or the ‘claim’, as it is referred to by some secured transactions laws) secured by a security right is not a matter for security law but for contract law.1 Security law must, however, determine three general points with respect to the debt secured by the security right::
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Abstract The legal life of the debt (or the ‘claim’, as it is referred to by some secured transactions laws) secured by a security right is not a matter for security law but for contract law.1 Security law must, however, determine three general points with respect to the debt secured by the security right::
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2014
Abstract Debt instruments obligate an issuer to make interest payments and repay principal to the buyer according to the terms of an agreement between the lender and the borrower. The yield, or market price of these debt securities is related to the yield on U.S. Treasury securities.
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Abstract Debt instruments obligate an issuer to make interest payments and repay principal to the buyer according to the terms of an agreement between the lender and the borrower. The yield, or market price of these debt securities is related to the yield on U.S. Treasury securities.
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2018
Abstract This chapter discusses securities. Securities are an important and complex category of intangible. A ‘security’ is defined as a fungible financial instrument, offered for sale on identical terms to multiple investors on first issue, and thereafter generally traded in a market that facilitates its free transfer.
Marcus Smith, Nico Leslie
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Abstract This chapter discusses securities. Securities are an important and complex category of intangible. A ‘security’ is defined as a fungible financial instrument, offered for sale on identical terms to multiple investors on first issue, and thereafter generally traded in a market that facilitates its free transfer.
Marcus Smith, Nico Leslie
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OPTIMAL STRATEGIES FOR THE ISSUANCES OF PUBLIC DEBT SECURITIES
International Journal of Theoretical and Applied Finance, 2004We describe a model for the optimization of the issuances of Public Debt securities developed together with the Italian Ministry of Economy and Finance. The goal is to determine the composition of the portfolio issued every month which minimizes a specific "cost function".
Adamo M +14 more
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Security Risk Assessment and Management as Technical Debt
2019 International Conference on Cyber Security and Protection of Digital Services (Cyber Security), 2019The endeavor to achieving software security consists of a set of risk-based security engineering processes during software development. In iterative software development, the software design typically evolves as the project matures, and the technical environment may undergo considerable changes.
Holvitie Johannes, Rindell Kalle
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2021
The 2003 reform introduced the possibility for SRLs to issue debt securities, governed by Article 2483 of the Italian Civil Code.The Chapter aims to provide a complete description of all aspects of this new form of financing, including the general characteristics of debt securities, the decision to issue debt securities, changes to the terms and ...
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The 2003 reform introduced the possibility for SRLs to issue debt securities, governed by Article 2483 of the Italian Civil Code.The Chapter aims to provide a complete description of all aspects of this new form of financing, including the general characteristics of debt securities, the decision to issue debt securities, changes to the terms and ...
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2002
This paper argues for an efficiency account of secured debt and against an externalization account. It describes the results of an investigation into firms' use of secured debt. I interviewed over twenty lawyers, bankers, and business people who are experts in this area and made use of my own knowledge as a former corporate lawyer.
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This paper argues for an efficiency account of secured debt and against an externalization account. It describes the results of an investigation into firms' use of secured debt. I interviewed over twenty lawyers, bankers, and business people who are experts in this area and made use of my own knowledge as a former corporate lawyer.
openaire +1 more source