Search results for "Issuer"
showing 10 items of 10 documents
Obligātās informācijas centralizētā glabāšanas sistēma
2017
Kvalifikācijas darba mērķis ir aprakstīt izstrādātu sistēmu ar nosaukumu “Obligātās informācijas centralizētā glabāšanas sistēma”, kura nodrošina emitenta dokumentu uzglabāšanu un to publisku apskati. Tīmekļa vietne emitenta pārstāvjiem ļauj sistēmā uzglabāt emitenta dokumentus un rediģēt to saturu, saglabājot dažādas dokumentu versijas, kuras ir iespējams publicēt. Sistēmas pamatmērķis ir aizstāt jau esošu un novecojošo sistēmu, kā arī ieviest jaunu un ērtu funkcionalitāti. Darba izstrādātā vietne plānota pēc ūdenskrituma modeļa metodikas, izstrāde notika izmantojot satura pārvaldības sistēmu Joomla!, kā arī PHP, CSS, HTML un Javascript programmēšanas valodas un MySQL Server datubāžu pārva…
Is the cardholder an efficient alarm system to detect credit card incidents?
2015
There is a growing tendency in credit card industry to increase the contribution of the smallest players, the cardholders, in the detection of card incidents. This article examines whether cardholders are efficient at detecting/communicating incidents of theft, loss or fraudulent use of their cards. The analysis focuses on whether they demonstrate enough speed of response to support a risk control subsystem by the issuer. The research follows a completely new approach showing how the issue can be handled by applying the concept of elasticity, a notion just recently exported from economics to the field of statistics by linking it with the reverse hazard rate. The issue is focused on the anal…
Global Powers and the International Currencies: What Does the Last Years Suggest for the Future?
2018
Starting from the literature that identifies different factors which determine whether a currency plays a global role, we propose an analysis of international status of major currencies using the following criteria: the demographic, economic, commercial, and financial size and importance of the currency issuer, the currency issuer’s financial market, and the history of using currency. We consider that the international use of a currency is mainly defined by the issuer’s place in the global economy, including its share of world trade and the size of its economy and financial market. The US dollar’s reference position was less influenced by the introduction of the euro, but nowadays it may be…
Subordinated debt in banking: a regulatory perspective
2018
The banking industry during the 1980s was characterised by the rapid spread of products and services innovations. A vast growth in this area belongs to subordinated debt. Among the instruments created for the banks' need of self-financing, subordinated debts are identified as a particular category: people who are granted a subordinated debt mainly assume the risk of the issuer's insolvency accepting to place themselves in an intermediate position between the owners and all the other creditors. Purpose of this study is to analyse the framework of this particular class of debt. Subordinated debts tend to be the first shock absorber able to incorporate the losses and tend to be very volatile w…
Money for the Issuer: Liability or Equity?
2021
Abstract This study analyzes the nature of money through the lens of the international principles of accounting and lays the foundations of what it calls the accounting view of money (AVM). Using international accounting principles, the AVM argues that the fiat monies issued by the state (typically, cash, banknotes, and central bank money) are not debt and that in fractional reserve regimes, only a share of commercial bank money can be regarded as debt. The AVM argues, instead, that state monies and the nondebt share of commercial bank money are net wealth of their holders and net worth (equity) of their issuers and determines how the seigniorage associated with money issuance should be acc…
Green Bonds: Between economic incentives and eco-change
2020
Abstract As the investor base committed to financing sustainable companies in an attempt to combat the climate crisis expands, green financial products have become more attractive to issuers, corporate and sovereign alike. As a result, the EU is attempting to create favourable market conditions which mobilise the allocation of private capital for investments that reduce the contribution to climate change. As part of the EU Commission’s Action Plan for Sustainable Finance, it intends to create Green Bond Standards which aim to support the transition to greener securities investments. As a foundation, we provide an overview of the green bond market development. We then consider investment cha…
What drives German foreign direct investment? New evidence using Bayesian statistical techniques
2019
Abstract Despite the importance of Germany as an issuer of foreign direct investment (FDI), the studies analyzing its determinants are far from conclusive. This research contributes to filling this gap providing new evidence for the period 1996–2012. In order to reduce model uncertainty, we adopt a Bayesian model averaging (BMA) approach. We find that determinants associated with horizontal FDI appear to be dominant for explaining FDI in developed countries while for the group of developing countries covariates associated with vertical FDI motives play a larger role. Within Europe, while the majority of FDI is horizontally driven in “core” countries, in the “periphery” vertical motivations …
Analysis of the Legal and Regulatory Situation of Uncovered Corporate Bond Issuance in the Baltic States: is there a Common Framework Possible?
2021
While the development of the Baltic corporate bond market is based on the uncovered bond segment, the elaboration of the legislative base has a devoted emphasis on the covered bonds. The shift from a country-focused to the pan-Baltic-focused capital market has been publicly acknowledged by the governments (Ministry of Finance of the Republic of Latvia, 2018) and is in line with the ongoing Capital Markets Union initiative of the European Commission (The High Level Forum on the Capital Markets, 2020). Moreover, a pan-Baltic covered bond legal and regulatory framework has been initiated (Ministry of Finance of the Republic of Lithuania, 2019). The strong demand for the corporate bond segment …
Efficiency in the eurobond market: application of nonparametric techniques
2007
The aim of this article is to analyse the efficiency of eurobond issuers within the primary market, from 1995 to 2000. The study includes a reference to theoretical discussion and to the methodology used; detailed explanation of the variables considered which, in order to supplement those strictly financial, include others such as spread from Interest Rate Risk (IRR) and respective swap; rating, duration and size; and macroeconomic fundamentals of the issuer country. Results and conclusions obtained from the static and dynamic efficiency analyses are then illustrated and discussed.
Financial Companies in Latvia: Why are they Coming to the Bond Market?
2019
In the period 2013-2017 Latvian corporate bond market had experienced the abrupt growth of the number of public Latvian corporate bond issues outstanding. The base of the expansion was formed by the financing activity of Latvian financial sector issuers (FSIs) with their weight in the pool of corporate bond issues listed in Nasdaq Riga at 85%. In 2019, FSIs remain the main issuer in Latvian corporate bond market (64% of the number of issues (Nasdaq Baltic, 2019)). The financing needs and preferences of the FSIs not only shape the segment profitability but also build Latvian corporate bond market sustainability. 
 Academic papers provide broad motivation for corporate debt issuing: an e…