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

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Yes, you can access The Handbook of Hybrid Securities by Jan De Spiegeleer, Wim Schoutens, Cynthia Van Hulle in PDF and/or ePUB format, as well as other popular books in Business & Finance. We have over one million books available in our catalogue for you to explore.

Information

Publisher

Wiley

Year

2014

ISBN

9781118450000

Edition

Topic

Business

Subtopic

Finance

Index

Business

The Handbook of Hybrid Securities
Contents
Reading this Book
Acknowledgments
1 Hybrid Assets
2 Convertible Bonds
3 Contingent Convertibles (CoCos)
4 Corporate Hybrids
5 Bail-In Bonds
6 Modeling Hybrids: An Introduction
7 Modeling Hybrids: Stochastic Processes
8 Modeling Hybrids: Risk Neutrality
9 Modeling Hybrids: Advanced Issues
10 Modeling Hybrids: Handling Credit
11 Constant Elasticity of Variance
12 Pricing Contingent Debt
13 Multi-Factor Models for Hybrids
References
Index