Covered bonds1 have emerged as a potentially preferred funding vehicle from the credit crisis, and they were already a major part of many European financial systems. Although some prices are directly available on, for example Bloomberg2, there is no detailed examination of how covered bonds should be priced taking into account the features that make them attractive to investors: i.e. over-colla...

Modelling the dynamics of credit derivatives is a challenging task in finance and economics. The recent crisis has shown that the standard market models fail to measure and forecast financial risks and their characteristics. This work studies risk of collateralized debt obligations (CDOs) by investigating the evolution of tranche spread surfaces and base correlation surfaces using a dynamic sem...

The purpose of this paper is to analyze the risks of synthetic CDO structures and their sensitivity to model parameters. In order to measure these sensitivities, I also introduce the latest techniques in the pricing and risk management of synthetic CDOs. I show how to model the conditional and unconditional default distributions of a typical synthetic deal using a simple mathematical framework....

We investigated the characterization and the regulation of TAUT (taurine transporter) and CDO (cysteine dioxygenase), one of the key enzymes of taurine biosynthesis, in human hepatoblastoma HepG2 cells. The activity of TAUT in the HepG2 cells was evaluated by means of a sodium- and chloride-dependent high-affinity transport system, the characteristics of which were similar to those of the beta ...

The purpose of the study is to understand the profile (if any) of the typical Prosecco wine consumer, for both Controlled Denomination of Origin (CDO) and Controlled and Guaranteed Denomination of Origin (CGDO) types, with a twofold objective. First, the study aims at contributing to the economics literature dealing with opening the “black box of preferences” and understanding consumers’ behavi...

In the Black-Cox model, a firm makes default when its value hits an exponential barrier. Here, we propose an hybrid model that generalizes this framework. The default intensity can take two different values and switches when the firm value crosses the barrier. Of course, the intensity level is higher below the barrier. We get an analytic formula for the Laplace transform of the default time and...

A new tris-chelate Cd(II) complex, [Cd(DADMBTZ)3](ClO3)2 has been successfully synthesized and characterized by IR, 1H, 13C NMR spectroscopy, elemental analysis and single crystal X-ray determination. The thermal behavior, UV-Vis and fluorescence spectra of compound were studied. In reaction with DADMBTZ, Cadmium (II) forms a tris-chelate complex with nearly C3 symmetry for coordination polyhed...

By appointing a chief digital officer (CDO), firms decide for central role responsible their transformation. While CDOs have recently appeared in the C-suites of across globe, current literature lacks insights into specific antecedents CDO presence. Grounded peculiarities age, we provide theoretical arguments explaining how decision to centralize transformation responsibilities might be related...

A key feature of the 2007 financial crisis is that for some classes of securities trade has practically ceased. And where trade has occurred, it appears that market prices are well below their intrinsic values. This seems especially true for those securities where the payoff streams are particularly complex, for example, structured finance ABS CDOs. One explanation for this is that information ...