A Backup Quarterback View of Mezzanine Finance

New Perspectives on Financing Small Cap Sme’s in Emerging Markets the Case for Mezzanine Finance

A different kind of quarterback

I am not big on celebrations, nor do I accept many invitations to receive awards. There is much work to be done, and the reward is in the doing. I learned this lesson early from my parents, Martha and Robert Guyden. However, I am humbled that anyone would even mention my name in association with E. E. Just. I, like he, was born into a segregated America, and somehow we both found biology. I thi...

Diffusion approximation of Lévy processes with a view towards finance

Let the (log-)prices of a collection of securities be given by a d–dimensional Lévy process Xt having infinite activity and a smooth density. The value of a European contract with payoff g(x) maturing at T is determined by E[g(XT )]. Let X̄T be a finite activity approximation to XT , where diffusion is introduced to approximate jumps smaller than a given truncation level ! > 0. The main result o...

"Keep the Quarterback White"!: Rush Limbaugh's Social Construction of the Black Quarterback

Despite the prominence of professional football in U.S. culture, little research has been conducted examining the social construction of race in the game. People have a cultural perception of race; what effect does this perception have on the players? There has been research on the historical struggles of Black athletes in collegiate football, as well as lasting issues of racism. To add to this...

Securitisation of Mezzanine Capital in Germany

A recent trend in the German Asset Backed Securities (ABS) market is the securitisation of subordinated loans and profit participation agreements (PPAs) granted to medium-sized enterprises (MEs). This paper provides an overview of this growing market and analyses the benefits of such transactions for the portfolio companies as well as originators and potential investors. Simulations of ten rece...