05305nam 2200661Ia 450 991014526200332120170815113549.01-119-20859-91-282-68954-197866126895430-470-69455-6(CKB)1000000000707270(EBL)416488(OCoLC)476248412(SSID)ssj0000229302(PQKBManifestationID)12029256(PQKBTitleCode)TC0000229302(PQKBWorkID)10172214(PQKB)11393407(MiAaPQ)EBC416488(EXLCZ)99100000000070727020080404d2008 uy 0engur|n|---|||||txtccrProperty derivatives[electronic resource] pricing, hedging and applications /Juerg M. SyzChichester, England ;Hoboken, NJ John Wiley & Sonsc20081 online resource (245 p.)Wiley finance seriesDescription based upon print version of record.0-470-99802-4 Includes bibliographical references (p. [209]-213) and index.Property Derivatives; Contents; Preface; PART I INTRODUCTION TO PROPERTY DERIVATIVES; 1 A Finance View on the Real Estate Market; 1.1 Real Estate is Different from Other Asset Classes; 1.2 Limited Access to Real Estate Investments; 1.3 New Instruments needed; 2 Basic Derivative Instruments; 2.1 Forwards, Futures and Swaps; 2.2 Options; 3 Rationales for Property Derivatives; 3.1 Advantages and Disadvantages of Property Derivatives; 3.2 Finding a Suitable Real Estate Investment; 3.3 Usage of Property Derivatives; 4 Hurdles for Property Derivatives; 4.1 Creating a Benchmark4.2 Education and Acceptance4.3 Heterogeneity and Lack of Replicability; 4.4 Regulation and Taxation; 4.5 Building Liquidity; 5 Experience in Property Derivatives; 5.1 United Kingdom; 5.2 United States; 5.3 Other Countries and Future Expectations; 5.4 Feedback Effects; 6 Underlying Indices; 6.1 Characteristics of Underlying Indices; 6.2 Appraisal-Based Indices; 6.3 Transaction-Based Indices; PART II PRICING, HEDGING AND RISK MANAGEMENT; 7 Index Dynamics; 7.1 Economic Dependencies and Cycles; 7.2 Bubbles, Peaks and Downturns; 7.3 Degree of Randomness; 7.4 Dynamics of Appraisal-based Indices7.5 Dynamics of Transaction-based Indices7.6 Empirical Index Analysis; 7.7 Distribution of Index Returns; 8 The Property Spread; 8.1 Property Spread Observations; 8.2 The Role of Market Expectations; 8.3 Estimating the Property Spread; 9 Pricing Property Derivatives in Established Markets; 9.1 Forward Property Prices; 9.2 Pricing Options on Property Indices; 10 Measuring and Managing Risk; 10.1 Market Development and Liquidity; 10.2 Early and Mature Stages; 10.3 Property Value-at-Risk; 11 Decomposing a Property Index; 11.1 General Explanatory Factors; 11.2 Tradable Explanatory Factors11.3 Example: The Halifax HPI12 Pricing and Hedging in Incomplete Markets; 12.1 Hedging Analysis; 12.2 Pricing without a Perfect Hedge; 12.3 Example: Hedging a Trading Portfolio; 12.4 Risk Transfer; PART III APPLICATIONS; 13 Range of Applications; 13.1 Professional Investers and Businesses; 13.2 The Private Housing Market; 14 Investing in Real Estate; 14.1 Properties of Property; 14.2 Property Derivatives and Indirect Investment Vehicles; 14.3 Investing in Real Estate with Property Derivatives; 15 Hedging Real Estate Exposure; 15.1 Short Hedge; 15.2 Long Hedge15.3 Hedge Efficiency and Basis Risk16 Management of Real Estate Portfolios; 16.1 Tactical Asset Allocation; 16.2 Generating Alpha; 16.3 Sector and Country Swaps; 17 Corporate Applications; 17.1 Selling Buildings Synthetically; 17.2 Acquisition Finance; 18 Indexed Building Savings; 18.1 Linking the Savings Plan to a House Price Index; 18.2 Engineering a Suitable Saving Plan; 19 Home Equity Insurance; 19.1 Index-Linked Mortgages; 19.2 Collateral Thinking; 19.3 Is an Index-Hedge Appropriate?; Appendix; Bibliography; IndexProperty derivatives have the potential to revolutionize real estate - the last major asset class without a liquid derivatives market. The new instruments offer ease and flexibility in the management of property risk and return. Property funds, insurance companies, pension and life funds, speculators, hedge funds or any asset manager with a view on the real estate market can apply the new derivatives to hedge property risk, to invest synthetically in real estate, or for portfolio optimization. Moreover, developers, builders, home suppliers, occupiers, banks, mortgage lenders and governmentalWiley finance series.Hedging (Finance)Real estate investmentReal propertyPricesElectronic books.Hedging (Finance)Real estate investment.Real propertyPrices.332.63/24332.6324Syz Juerg M319971MiAaPQMiAaPQMiAaPQBOOK9910145262003321Property derivatives784121UNINA02777nam 2200493 450 991081766590332120230630001819.090-04-44770-910.1163/9789004447707(CKB)4100000011812069(OCoLC)861766971(nllekb)BRILL9789004447707(MiAaPQ)EBC6526847(Au-PeEL)EBL6526847(OCoLC)1226074911(EXLCZ)99410000001181206920211014d2021 uy 0engurun####uuuuatxtrdacontentcrdamediardacarrierAn institutional perspective on the United Nations criminal tribunals governance, independence, and impartiality /by Huw LlewellynLeiden, The Netherlands ;Boston :Brill Nijhoff,[2021]©20211 online resourceLegal Aspects of International Organizations ;6290-04-44769-5 Includes bibliographical references and index.The United Nations criminal tribunals and their oversight bodies -- Essential concepts -- Establishment Part I : institutional architecture of the UN criminal tribunals -- Establishment Part II : the oversight bodies and funding mechanisms -- Commencement and functioning -- Completion and closure -- The residual phase -- Conclusion.Huw Llewellyn offers a comparative institutional analysis of the five United Nations criminal tribunals (for the former Yugoslavia, Rwanda, Sierra Leone, Cambodia and Lebanon), assessing the strengths and weaknesses of their institutional forms in supporting the governance, independence and impartiality of these pioneering criminal justice bodies. Largely overlooked in the otherwise comprehensive literature on international criminal justice, this book focuses on "parenthood", "oversight" and "ownership" by the tribunals' governing bodies, concepts unnecessary in national jurisdictions, and traces the tension between governance and judicial independence through the different phases of the tribunals' lifecycles: from their establishment to commencement of operations, completion of mandates and closure, and finally to the "afterlife" of their residual phase.Legal Aspects of International Organizations ;62.International criminal courtsInternational criminal courts.345.01Llewellyn Huw1959-1683396MiAaPQMiAaPQMiAaPQCaOWALBOOK9910817665903321An institutional perspective on the United Nations criminal tribunals4054092UNINA