Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The objective of the paper is to assess ownership and control links in the GCC corporate sector. The analysis focuses on the integrated ownership and network arising from ownership data available in Bloomberg and GCC stock exchanges. The paper finds that ownership is concentrated in GCC public sector institutions, holding companies, financial institutions, and family groups. The paper then considers the effect of different definitions of control on the distribution of consolidated debt. Debt concentration is maximized when the wedge between ownership and control is the largest. This is the case when the largest shareholder has at least 5 percent of total shares as defined in Zingales (1994).

Business enterprises --- Corporate governance --- Corporate debt --- Corporations --- Debt --- Debt financing (Corporations) --- Governance, Corporate --- Industrial management --- Directors of corporations --- Business organizations --- Businesses --- Companies --- Enterprises --- Firms --- Organizations, Business --- Business --- Finance --- Gulf Cooperation Council. --- Gulf Co-operation Council --- Co-operation Council for the Arab States of the Gulf --- States of Gulf Co-operation Council --- Golf-Rat --- GCC --- G.C.C. --- Majlis al-Taʻāwun al-Khalījī --- Majlis al-Taʻāwun al-Khalījī al-ʻArabī --- GKR --- Kooperationsrat Arabischer Staaten am Golf --- Cooperation Council for the Arab States of the Gulf --- Duwal Majlis al-Khalīj --- Gŏlpʻŭ Hyŏmnyŏk Wiwŏnhoe --- Kŏlpʻŭ Hyŏmnyŏk Wiwŏnhoe --- Majlis al-Taʻāwun li-Duwal al-Khalīj al-ʻArabīyah --- Golfkooperationsrat --- AGCC --- A.G.C.C. --- Duwal Majlis al-Taʻāwun al-Khalījī --- Sovet sotrudnichestva arabskikh gosudarstv Persidskogo zaliva --- SSAGPZ --- Arab Gulf Cooperation Council --- مجلس التعاون الخليجي --- مجلس التعاون لدول الخليج العربية --- Shūrā-yi Hamkārī-i Khalīj-i Fārs --- شوراى همکارى خليج فارس --- Persian Gulf Cooperation Council --- PGCC --- Conseil de coopération du Golfe --- Gulf Cooperative Council --- Consiglio di cooperazione del Golfo --- Ccg --- Banks and Banking --- Corporate Finance --- Finance: General --- Macroeconomics --- Criminology --- Corporate Governance --- Corporate Finance and Governance: Government Policy and Regulation --- General Financial Markets: General (includes Measurement and Data) --- Public Enterprises --- Public-Private Enterprises --- Corporate Finance and Governance: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Illegal Behavior and the Enforcement of Law --- Civil service & public sector --- Ownership & organization of enterprises --- Banking --- Corporate crime --- white-collar crime --- role & responsibilities of boards & directors --- Stock markets --- Public sector --- Corporate sector --- Illicit financial flows --- Financial markets --- Economic sectors --- Crime --- Stock exchanges --- Finance, Public --- Banks and banking --- Money laundering --- Saudi Arabia --- Role & responsibilities of boards & directors --- White-collar crime

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper analyzes the price stabilizing properties of puttable and extendible bonds, their potential to help develop interest-rate derivative markets, and their use by governments. Their stabilizing properties imply that, when bond prices fall, prices for puttable and extendible bonds fall by less. Their embedded options work as a cushion and replicate the trading gains from hedging long-term bonds with interest rate derivatives. These bonds can help develop interest-rate derivative markets in developing countries and eventually increase demand for long-term government bonds. Informal evidence from OECD countries suggests that these bonds were useful in the 1980s, when interest rates were volatile.

Interest rates. --- Interest rate futures --- Bonds --- Derivative securities. --- Derivative financial instruments --- Derivative financial products --- Derivative instruments --- Derivatives (Finance) --- Financial derivatives --- Securities --- Structured notes (Securities) --- Bond issues --- Debentures --- Negotiable instruments --- Debts, Public --- Stocks --- Futures, Interest rate --- Financial futures --- Money market rates --- Rate of interest --- Rates, Interest --- Interest --- Econometric models. --- Macroeconomics --- Economics: General --- International Economics --- Investments: Bonds --- Investments: Options --- Banks and Banking --- Foreign Exchange --- Informal Economy --- Underground Econom --- Contingent Pricing --- Futures Pricing --- option pricing --- International Financial Markets --- General Financial Markets: General (includes Measurement and Data) --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Price Level --- Inflation --- Deflation --- Interest Rates: Determination, Term Structure, and Effects --- Economic & financial crises & disasters --- Economics of specific sectors --- Investment & securities --- Finance --- Financial crises --- Economic sectors --- Financial institutions --- Options --- Asset prices --- Prices --- Sovereign bonds --- Short term interest rates --- Financial services --- Currency crises --- Informal sector --- Economics --- Derivative securities --- Interest rates --- Brazil --- Option pricing

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Currency mismatches in corporate balance sheets have been singled out as an important factor underlying the severity of recent financial crises. We propose several structural models for measuring default risk for firms with currency mismatches in their asset/liability structure. The proposed models can be adapted to different exchange rate regimes, are analytically tractable, and can be estimated using available equity price and balance sheet data. The paper provides a detailed explanation on how to calibrate the models and discusses two applications to financial surveillance: the measurement of systematic risk in the corporate sector and the estimation of prudential leverage ratios consistent with regulatory capital ratios in the banking sector.

Corporations -- Finance. --- Default (Finance). --- Electronic books. -- local. --- Finance --- Business & Economics --- Financial Management & Planning --- Corporations --- Default (Finance) --- Finance. --- Business finance --- Capitalization (Finance) --- Corporate finance --- Corporate financial management --- Corporation finance --- Financial analysis of corporations --- Financial management, Corporate --- Financial management of corporations --- Financial planning of corporations --- Managerial finance --- Finance, Public --- Repudiation --- Going public (Securities) --- Exports and Imports --- Finance: General --- Financial Risk Management --- Foreign Exchange --- Money and Monetary Policy --- International Financial Markets --- General Financial Markets: Government Policy and Regulation --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- International Lending and Debt Problems --- Monetary economics --- International economics --- Currency --- Foreign exchange --- Asset valuation --- Currency mismatches --- Currencies --- Debt default --- Exchange rates --- Asset-liability management --- Financial risk management --- Money --- Debts, External --- Argentina

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Banks and banking --- Petroleum products --- Banks and banking --- Econometric models. --- Prices --- Econometric models. --- Econometric models.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Infrastructure (Economics) --- Capital investments --- Capital expenditures --- Capital improvements --- Capital spending --- Fixed asset expenditures --- Plant and equipment investments --- Plant investments --- Investments --- E-books