Contract Risk and Credit Spread Determinant in the International Project Bond Market PDF Download
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Author: Mansoor Dailami
Publisher: World Bank Publications
ISBN:
Category : Bond market
Languages : en
Pages : 58
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Book Description
In infrastructure projects bondholders and shareholders share residual risks over time despite debt covenants meant to mitigate risk shifting. For projects accessing international bond markets to benefit from longer maturities and lower borrowing costs, it is therfore necessary to pay attention to such design features as capital structure, guarantees, off-take agreement, and project economics.
Author: Mansoor Dailami
Publisher: World Bank Publications
ISBN:
Category : Bond market
Languages : en
Pages : 58
Get Book Here
Book Description
In infrastructure projects bondholders and shareholders share residual risks over time despite debt covenants meant to mitigate risk shifting. For projects accessing international bond markets to benefit from longer maturities and lower borrowing costs, it is therfore necessary to pay attention to such design features as capital structure, guarantees, off-take agreement, and project economics.
Author: Jiri Podpiera
Publisher: International Monetary Fund
ISBN: 1455200573
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper attempts to identify the fundamental variables that drive the credit default swaps during the initial phase of distress in selected European Large Complex Financial Institutions (LCFIs). It uses yearly data over 2004 - 08 for 29 European LCFIs. The results from a dynamic panel data estimator show that LCFIs’ business models, earnings potential, and economic uncertainty (represented by market expectations about the future risks of a particular LCFI and market views on prospects for economic growth) are among the most significant determinants of credit risk. The findings of the paper are broadly consistent with those of the literature on bank failure, where the determinants of the latter include the entire CAMELS structure - that is, Capital Adequacy, Asset Quality, Management Quality, Earnings Potential, Liquidity, and Sensitivity to Market Risk. By establishing a link between the financial and market fundamentals of LCFIs and their CDS spreads, the paper offers a potential tool for fundamentals-based vulnerability and early warning system for LCFIs.
Author: Santiago Herrera
Publisher: World Bank Publications
ISBN:
Category : Business cycles
Languages : en
Pages : 64
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Book Description
The authors examine if observed asset prices in Latin America depart significantly from fundamentals-determined levels. These departures, or bubbles, are found to be equally determined by both country-specific and common external variables, contrary to previous studies that found that local factors were predominant in asset price determination in Latin America.
Author: Florence Eid
Publisher: World Bank Publications
ISBN:
Category : Corporate governance
Languages : en
Pages : 56
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Book Description
Representation of community and government interests on hospital boards can balance the competing concerns of reducing costs and increasing the quality of service provision in corporatized hospitals.
Author: Florence Eid
Publisher: World Bank Publications
ISBN:
Category : Corporate governance
Languages : en
Pages : 56
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Book Description
A study of a corporatized hospital in Lebanon shows that service delivery can be improved where there are appropriate incentives and mechanisms for risk sharing.
Author: Helo Meigas
Publisher: World Bank Publications
ISBN:
Category : Banks and banking
Languages : en
Pages : 36
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Book Description
Over the past 10 years th ...
Author: Truman Packard
Publisher: World Bank Publications
ISBN:
Category : Individual retirement accounts
Languages : en
Pages : 32
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Book Description
Introducing individual retirement accounts has a positive incentive effect that increases the share of the economically active population contributing to the reformed pension system. But this effect occurs only gradually as employers and workers become familiar with the new set of social insurance institutions put in place by reform.
Author: Sanjay Kathuria
Publisher: World Bank Publications
ISBN:
Category : Arrangement Regarding International Trade in Textiles
Languages : en
Pages : 30
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Book Description
Modeling results suggest that South Asia as a whole will gain from the abolition of the quotas under the Multifibre Arrangement. Unambiguously, however, the gains from domestic reform will increase after the abolition of the arrangement as export demand becomes more price responsive.
Author: Mansoor Dailami
Publisher:
ISBN:
Category :
Languages : en
Pages : 54
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Book Description
Author: Books Group
Publisher: World Bank Publications
ISBN: 1130040208
Category :
Languages : en
Pages : 44
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Book Description
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 Excerpt: ...and inspection of commercial wares. Four stations are charged with the inspection of foods and beverages. Eight stations are organized with especial reference to more purely scientific research. Fifteen are conducting investigations in vegetable physiology, nine in animal physiology and nutrition, two on soils, three in dairying, four in sugar-beet culture, two in fruit and vine culture, one in agricultural physics, eight in chemistry or chemical technology, four in agricultural technology, two upon commercial agricultural products (especially wine and tobacco), and three upon beer brewing. Nine of the stations have vegetation houses for experiments in vegetable physiology, nine have experimental fields, seven have feeding stalls for experimental purposes, four have experimental gardens, two have special arrangements tor animals under experiment (Haustiergarten), two are equipped with Pettenkofers respiration apparatus, and one with a horse dynamometer. The German stations are like ours in the general character of their work, and in the fact of their connection with educational institutions, but since the latter institutions are under the control of the government, which also supplies a large amount of the revenues of the stations and appointmany of their officers, the stations are more directly subject to governmental supervision than ours. It should be observed that agricultural societies exercise the most important influence in their management; many of the stations were established by these societies and receive a considerable portion of their revenue from them. The revenues are smaller than ours, as are sala-ries and other expenses. A much larger proportion of the revenue comes from analyses of fertilizers and other commercial products. In general, the...
