Over-the-counter derivative products: a guide to business and legal risk management and documentation
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New York [u.a.]
McGraw-Hill
1999
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXIX, 508 S. graph. Darst. |
| ISBN: | 0786310782 |
Internformat
MARC
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| 245 | 1 | 0 | |a Over-the-counter derivative products |b a guide to business and legal risk management and documentation |c Robert M. McLaughlin |
| 264 | 1 | |a New York [u.a.] |b McGraw-Hill |c 1999 | |
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| 336 | |b txt |2 rdacontent | ||
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| 338 | |b nc |2 rdacarrier | ||
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| 650 | 4 | |a Derivative securities | |
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Datensatz im Suchindex
| _version_ | 1804126866169135104 |
|---|---|
| adam_text | CONTENTS
FOREWORD xiii
PREFACE xvii
ACKNOWLEDGMENTS xxix
Chapter 1 Stability Amid Change: A Functional Approach 1
A Functional Approach 7
Theoretical Basis for a Functional Approach 9
A Dynamic Approach—The Financial Innovation Spiral 16
Implications for the Future 25
Endnotes: Chapter 1 27
Chapter 2 Developing an Analytical Framework 31
Senior Management s Inforamation Needs 32
Current Definitions 52
Endnotes: Chapter 2 62
Chapter 3 The Building Blocks of Functional Analysis 65
Analyzing Economic Risk and Return Characteristics 66
Time Value 81
Fundamental Option Risks 86
Effects of Option Characteristics on Plain Vanilla Transactions 93
Put Call Parity 94
Endnotes: Chapter 3 95
vii !
vili CONTENTS
Chapter 4 Strategic Fit and the Building Blocks of
Risk Management 97
Strategic Fit 98
Constructing a Risk Management Strategy 98
Transforming Business Activities to Reduce Risk 99
Strategic Prerequisite—Developing a Risk Profile 114
Strategic Goals—The Three Dimensions of Risk Management 116
Selecting Among Strategies 119
Strategic Imperative: Fit and Sustainability of Competitive Advantage 121
Competitive Strategy: Using Derivatives to Solve Other Parties
Problems 122
Endnotes: Chapter 4 124
Chapter 5 Legal Risk: A Functional Analysis 127
Legal Risk —Traditional Definition 127
Main Enforceability Concerns 130
Legal Risk —A Functional Perspective 143
Endnotes: Chapter 5 145
Chapter 6 Legal Engineering: Innovations in Legal Risk
Management 149
Foundations of a Legal Risk Management System—Functional
Analysis 151
The Historical Antecedents of Legal Innovation 154
The Importance of Legal Innovation 156
The Elements of Law, and Private Legislators 158
Examples of Modern Legal Technical Virtuosity in OTC Derivatives 159
Master Agreements and Related Standardized Documentation 162
Other Ongoing Efforts 164
Endnotes: Chapter 6 164
Chapter 7 Market Regulations: A Functional Analysis 167
Regulatory Uncertainty 167
Essential Regulatory Information—Definitional Categories and
Economic Reality 170
The Building Blocks of Regulatory Analysis 171
Contents ix
Utility of a Functional Analysis of Derivitive Regulation 172
End User Concerns 175
Endnotes: Chapter 7 179
Chapter 8 Market Regulations: Overview 181
Overview of Current U.S. Derivitives Regulation—Classifications and
Consequences 182
Definitional Uncertainty and Interagency Judisdiction Disputes 187
Ongoing Definitional and Jurisdictional Struggle—Dunn v. CFTC 190
Government Restraint and Incrementalism 194
Drawback of Incrementalism—Legal Uncertainty 199
Endnotes: Chapter 8 199
Chapter 9 Market Regulation: Case Law Road Map 203
Description of the P G Swaps 205
OTC Derivatives—Common Law Basics 206
Application of Securities Laws to OTC Derivatives— Economic
Reality ? 212
Application of CEA to OTC Derivatives 220
Endnotes: Chapter 9 224
Chapter 10 Role of Senior Management: A Functional
Overview of Governance 229
Role of Senior Management—Overview 230
Best versus Actual Derivatives Risk Management Practices 232
Comparing Practice with Theory 235
Gibson Greetings 239
Implications for OTC Derivatives Decision Making and Oversight 241
Oversight Skills or Operational Expertise? The Benefits of Functional
Analysis 242
Endnotes: Chapter 10 244
Chapter 11 Essential Managerial Information: Overview of j
Modern Finance 249
Supervisory Level Understanding 250 !
Origins of Modern Finance 253 j
x CONTENTS
Modern Finance as a Science—The Role of Mathematics 270
Endnotes: Chapter 11 280
Chapter 12 Fundamentals of Modern Finance: Risk and Return;
Modern Portfolio Theory 287
Envolving Definition of Risk 288
Risk Return Trade offs 293
Modern Portfolio Theory; Separation Theorem; CAPM 299
Endnotes: Chapter 12 309
Chapter 13 Fundamentals of Modern Finance: MM Theory 313
MM Theory: From Perfect Market Assumption to Real World
Applications 313
Company Cost of Capital 316
Why Not Trade Derivatives for Profit? An MM Response 321
Using Derivatives to Reduce Costs of Market Imperfections 323
Cost of Market Imperfections 325
Endnotes: Chapter 13 327
Chapter 14 Using Derivatives to Reduce the Costs of Market
Imperfections 331
Using Derivatives to Reduce Taxes 331
Reducing Deadweight Costs of Financial Distress; Trade off
Theory 335
Reducing Stakeholder Costs 340
Reducing Costs of Suboptional Investments 343
Endnotes: Chapter 14 365
Chapter 15 Surprising Applications of Contingent Claims Analysis
and Option Pricing Theory 371
Option Theory and the Costs of Financial Distress 372
Board Policy Issue: Risk Management and the Form of Managerial
Equity 394
Endnotes: Chapter 15 403
Contents xi
Chapter 16 Derivatives Related Fiduciary Duties: A Functional
Analysis 409
Function of Fiduciary Law 411
Elusive Fiduciary Concept 425
Endnotes: Chapter 16 436
Chapter 17 Derivatives Related Fiduciary Duties: Trust
Investment and Corporate Law 443
Overview of Derivatives Related Duties 444
A Functional Approach 445
Evolution of Fiduciary Duties 450
Endnotes: Chapter 17 472
Chapter 18 Disclosure and Strategic Focus: Reducing, Increasing,
or Transforming Risk? 481
Thinking Strategically: A Formal Ends Means Analysis 482
Hedging versus Speculation 487
Disclosure 494
Endnotes: Chapter 18 499
INDEX 501
I
I
|
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| spelling | MacLaughlin, Robert M. Verfasser aut Over-the-counter derivative products a guide to business and legal risk management and documentation Robert M. McLaughlin New York [u.a.] McGraw-Hill 1999 XXIX, 508 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Recht Derivative securities Derivative securities Law and legislation Derivat Wertpapier (DE-588)4381572-8 gnd rswk-swf Risikomanagement (DE-588)4121590-4 gnd rswk-swf Derivat Wertpapier (DE-588)4381572-8 s Risikomanagement (DE-588)4121590-4 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008300065&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | MacLaughlin, Robert M. Over-the-counter derivative products a guide to business and legal risk management and documentation Recht Derivative securities Derivative securities Law and legislation Derivat Wertpapier (DE-588)4381572-8 gnd Risikomanagement (DE-588)4121590-4 gnd |
| subject_GND | (DE-588)4381572-8 (DE-588)4121590-4 |
| title | Over-the-counter derivative products a guide to business and legal risk management and documentation |
| title_auth | Over-the-counter derivative products a guide to business and legal risk management and documentation |
| title_exact_search | Over-the-counter derivative products a guide to business and legal risk management and documentation |
| title_full | Over-the-counter derivative products a guide to business and legal risk management and documentation Robert M. McLaughlin |
| title_fullStr | Over-the-counter derivative products a guide to business and legal risk management and documentation Robert M. McLaughlin |
| title_full_unstemmed | Over-the-counter derivative products a guide to business and legal risk management and documentation Robert M. McLaughlin |
| title_short | Over-the-counter derivative products |
| title_sort | over the counter derivative products a guide to business and legal risk management and documentation |
| title_sub | a guide to business and legal risk management and documentation |
| topic | Recht Derivative securities Derivative securities Law and legislation Derivat Wertpapier (DE-588)4381572-8 gnd Risikomanagement (DE-588)4121590-4 gnd |
| topic_facet | Recht Derivative securities Derivative securities Law and legislation Derivat Wertpapier Risikomanagement |
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