LEADER 05401nam 2200685 450 001 9910145303103321 005 20170810192217.0 010 $a1-119-20124-1 010 $a1-118-16099-1 035 $a(CKB)1000000000709040 035 $a(EBL)697259 035 $a(OCoLC)811493881 035 $a(SSID)ssj0000384257 035 $a(PQKBManifestationID)12111739 035 $a(PQKBTitleCode)TC0000384257 035 $a(PQKBWorkID)10338616 035 $a(PQKB)10903764 035 $a(MiAaPQ)EBC697259 035 $a(EXLCZ)991000000000709040 100 $a20160415h20062006 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aStructured finance and insurance $ethe ART of managing capital and risk /$fChristopher L. Culp 210 1$aHoboken, New Jersey :$cWiley,$d2006. 210 4$dİ2006 215 $a1 online resource (1456 p.) 225 1 $aWiley finance 300 $aDescription based upon print version of record. 311 $a0-471-70631-0 320 $aIncludes bibliographical references and index. 327 $aCover; Contents; Title; Copyright; Foreword: Wherefore ART Thou? The Importance of Principle-Based Structured Finance; Preface; Part One: Integrated Risk and Capital Management; Chapter 1: Real and Financial Capital; Real Capital and The Value of The Firm; Financial Capital and The Value of The Firm; Financial Capital Through an Options Lens; Economic Balance Sheet of The Firm; Chapter 2: Risk and Risk Management; Financial Versus Nonfinancial Risks; Core Versus Noncore Risks; Risk Management Alternatives; Chapter 3: Leverage; Benefits of Leverage To The Value of The Firm; Costs of Leverage 327 $aOptimal Capital Structure?Chapter 4: Adverse Selection and Corporate Financing Decisions; Adverse Selection and Markets For Lemons; Adverse Selection in Securities Markets; Implications of Adverse Selection in Securities Markets; Chapter 5: Capital Budgeting, Project Selection, and Performance Evaluation; Accounting Metrics For Project Selection and Performance Measurement; Discounted Cash Flow Methods With No Risk Adjustment; Net Present Value Rule; Shareholder Value Added; Economic Value Added and Residual Income; Cash Flow Return On Investment; Chapter 6: Risk Transfer 327 $aRisk Transfer and Equity CapitalRisk Transfer and The Value of The Firm; Risk Transfer Versus Risk Capital; Chapter 7: Risk Finance; Cash Flow Distinctions Between Pre- and Postloss Funding; Irrelevance of Risk Finance Under M&M; Motivations For Funding A Retention; Part Two: Traditional Risk Transfer; Chapter 8: Insurance; Insurance Products As Contracts; Insurance Pricing; Moral Hazard and Insurance Contract Design; Adverse Selection and Insurance Contract Design; Insurance Companies; Reserve and Asset-Liability Management at Insurance Companies; Chapter 9: Reinsurance; The Basics 327 $aRisks of Writing Primary InsuranceMotivations For Purchasing Reinsurance; Facultative Versus Treaty Reinsurance; Proportional Reinsurance Treaties; Excess of Loss Reinsurance; Horizontal Layering and Blended Cover; Syndication; Chapter 10: Credit Insurance and Financial Guaranties; Credit Insurance Products; Letters Of credit; Who Bears The Cost of Acquiring Credit Protection?; Distinctions Between Different Credit Protection Products; When is A Guaranty Not A Guaranty?; Chapter 11: Derivatives; What Are Derivatives?; Forward and Forwardlike Contracts; Options 327 $aChapter 12: Credit Derivatives and Credit-Linked NotesScope of Credit Derivatives Activity; Single-Name Credit Default Swaps; Portfolio Credit Default Swaps; Asset Default Swaps; Equity Default Swaps; Total Return Swaps; Credit-Linked Notes (Recourse); Part Three: Structured Finance; Chapter 13: The Structuring Process; Types of Structured Financial Solutions; Structuring Process; Tranching and Subordination; Chapter 14: Hybrids, Convertibles, and Structured Notes; Hybrids and Convertibles; Structured Notes; Chapter 15: Contingent Capital; Contingent Capital Facilities As Options 327 $a(Re)Insurance Applications of Contingent Capital 330 $aPraise for Structured Finance & Insurance""More and more each year, the modern corporation must decide what risks to keep and what risks to shed to remain competitive and to maximize its value for the capital employed. Culp explains the theory and practice of risk transfer through either balance sheet mechanism such as structured finance, derivative transactions, or insurance. Equity is expensive and risk transfer is expensive. As understanding grows, and, as a result, costs continue to fall, ART will continue to replace equity as the means to cushion knowable risks. This book enhances 410 0$aWiley finance series. 606 $aAsset-backed financing 606 $aSecurities 606 $aRisk management 606 $aRisk (Insurance) 608 $aElectronic books. 615 0$aAsset-backed financing. 615 0$aSecurities. 615 0$aRisk management. 615 0$aRisk (Insurance) 676 $a658.15/5 676 $a658.155 700 $aCulp$b Christopher L.$0614206 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910145303103321 996 $aStructured finance and insurance$92170877 997 $aUNINA