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001385931 020__ $$a9780262273480$$q(electronic bk.)
001385931 020__ $$a0262273489$$q(electronic bk.)
001385931 035__ $$a(OCoLC)53192499$$z(OCoLC)961679723$$z(OCoLC)962716252
001385931 035__ $$a(OCoLC-P)53192499
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001385931 072_7 $$aBUS$$x036000$$2bisacsh
001385931 08204 $$a332.63/2$$222
001385931 1001_ $$aGarbade, Kenneth D.
001385931 24510 $$aPricing corporate securities as contingent claims /$$cKenneth D. Garbade.
001385931 260__ $$aCambridge, Mass. :$$bMIT Press,$$c©2001.
001385931 300__ $$a1 online resource (xii, 415 pages) :$$billustrations
001385931 336__ $$atext$$btxt$$2rdacontent
001385931 337__ $$acomputer$$bc$$2rdamedia
001385931 338__ $$aonline resource$$bcr$$2rdacarrier
001385931 506__ $$aAccess limited to authorized users.
001385931 520__ $$aAn examination of the relative value of securities in a corporation's capital structure, using the concept of contingent value analysis.In 1973, Fischer Black, Myron Scholes, and Robert Merton pointed out that securities issued by a corporation can be priced as claims whose values are contingent on the value of the enterprise as a whole. The notion of treating corporate securities as contingent claims is intrinsically important, but it is also important because it integrates a variety of otherwise loosely related topics, including equity risk, credit risk, seniority and subordination, early redemption of callable debt, and conversion of convertible debt.Bringing together developments from the past thirty years in contingent valuation, this book examines the relative value of securities in a corporation's capital structure, including debt of different priorities, convertible debt, common stock, and warrants. The book emphasizes the importance of accounting for the institutional characteristics of default, bankruptcy, and voluntary recapitalization of a financially distressed firm, as well as the exercise of managerial discretion in calling debt for early redemption, servicing debt, paying dividends to common shareholders, and undertaking strategic actions such as leveraged recapitalizations and spin-offs.
001385931 588__ $$aOCLC-licensed vendor bibliographic record.
001385931 650_0 $$aSecurities$$xPrices$$xMathematical models.
001385931 650_0 $$aInvestment analysis$$xMathematical models.
001385931 653__ $$aECONOMICS/Finance
001385931 655_0 $$aElectronic books
001385931 852__ $$bebk
001385931 85640 $$3MIT Press$$uhttps://univsouthin.idm.oclc.org/login?url=https://doi.org/10.7551/mitpress/5532.001.0001?locatt=mode:legacy$$zOnline Access through The MIT Press Direct
001385931 85642 $$3OCLC metadata license agreement$$uhttp://www.oclc.org/content/dam/oclc/forms/terms/vbrl-201703.pdf
001385931 909CO $$ooai:library.usi.edu:1385931$$pGLOBAL_SET
001385931 980__ $$aBIB
001385931 980__ $$aEBOOK
001385931 982__ $$aEbook
001385931 983__ $$aOnline