Search results for "Warrant"
showing 4 items of 14 documents
Warrant Exercise and Bond Conversion in Large Trader Economies
2006
It is well known that the sequential (premature) exercise of American-type warrants may be advantageous for large warrantholders, even in the absence of regular dividends, because using exercise proceeds to repurchase stock or to expand the firm's scale increases the riskiness of an equity share. We present an upper bound on this advantage and show that this advantage is negligible for a realistic parameter setting. This result, however, does not justify in general the simplifying restriction that warrants or convertible securities are valued as if exercised as a block. It turns out that the option to exercise only a fraction of the outstanding convertibles at the maturity date (partial exe…
Stochastic debt sustainability analysis for sovereigns and the scope for optimization modeling
2017
We argue that sovereign debt sustainability analysis must be augmented by stochastic correlated risk factors and a risk measure to capture tail effects. Crisis situations can thus be adequately specified and analyzed with sufficient accuracy to warrant the relevance of policy decisions. In this context there is significant scope for optimization modeling for both strategic planning and operational management. We discuss diverse aspects of the problem of debt sustainability and highlight modeling approaches that can be brought to bear on the problem. Results with the fictitious, but nor unrealistic, Kingdom of Atlantis, which is sinking under excessive debt, illustrate the proposed models.
Umowa deweloperska – początek biegu terminu na stwierdzenie wad budynku
2021
W artykule rozważona jest kwestia, który moment/które momenty należałoby uznać za początek biegu terminu na stwierdzenie wad jednego z przedmiotów umowy deweloperskiej, tj. budynku. Aby problem ten prawidłowo przeanalizować, w opracowaniu została przyjęta następująca struktura. W ramach zagadnień wstępnych przedstawiono, co należałoby uznać za przedmiot umowy deweloperskiej, jak prawnie należałoby zakwalifikować umowę deweloperską oraz czym różni się termin na stwierdzenie wady od terminu na jej zgłoszenie. Następnie rozważono, kiedy zaczyna biec termin na stwierdzenie wad budynku. Opracowanie wieńczy krótkie podsumowanie
Explaining classroom teachers’ attitudes towards inclusive education
2019
Teacher attitudes have been identified as an important resource when striving towards inclusive education as defined in the Salamanca Statement (1994). This study surveyed some key factors associated with teacher attitudes towards inclusion. The participants were 1,456 classroom teachers in Finnish primary schools who were asked about their readiness to include in their classrooms a student with a specified special educational need (SEN). The results were reviewed in association with some background variables, including workload concerns, evaluation of professional skills and the opportunity to get extra support if needed. The results show that classroom teachers’ positive attitudes towards…