LEADER 06085oam 22015134 450 001 9910965596203321 005 20250426110455.0 010 $a9786612843259 010 $a9781462327522 010 $a1462327524 010 $a9781452719801 010 $a1452719802 010 $a9781451872576 010 $a1451872577 010 $a9781282843257 010 $a1282843257 035 $a(CKB)3170000000055269 035 $a(EBL)1608302 035 $a(SSID)ssj0000940104 035 $a(PQKBManifestationID)11592416 035 $a(PQKBTitleCode)TC0000940104 035 $a(PQKBWorkID)10938246 035 $a(PQKB)10337771 035 $a(OCoLC)645513273 035 $a(IMF)WPIEE2009110 035 $a(MiAaPQ)EBC1608302 035 $a(IMF)WPIEA2009110 035 $aWPIEA2009110 035 $a(EXLCZ)993170000000055269 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCredit Risk Spreads in Local and Foreign Currencies /$fZvi Wiener, Dan Galai 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (22 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 08$a9781451916874 311 08$a1451916876 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. The Model; III. Numerical Examples and Illustrations; Tables; 1. The Euro-Denominated Debt Spread, Face Value, PD, and the Cost of Credit Risk as a Function of Correlations; IV. Credit Spreads and Modigliani and Miller Propositions; Figures; 1. Spreads on Foreign-Currency Bonds and Correlations; 2. Betas of Stocks and Foreign Currency Bonds for Various Correlations; 2. The Expected Return on Stock (yS) as a Function of the B/S Ratio; V. Implications and Conclusions; 3. The Expected Return on Stock yS as a Function of the B/S Ratio and Correlation Coefficient ? 327 $a4. FE as a Function of FAppendixes; I. Determination of the Face Value of Debt in the Foreign Currency; 5. FE as a Function of F; II. Firm Value, Exchange Rates, and Inflation; References 330 3 $aThe paper shows how-in a Merton-type model with bankruptcy-the currency composition of debt changes the risk profile of a company raising a given amount of financing, and thus affects the cost of debt. Foreign currency borrowing is cheaper when the exchange rate is positively correlated with the return on the company's assets, even if the company is not an exporter. Prudential regulations should therefore differentiate among loans depending on the extent to which borrowers have "natural hedges" of their foreign currency exposures. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/110 606 $aCredit$xMathematical models 606 $aFinancial risk management 606 $aBanks and Banking$2imf 606 $aBonds$2imf 606 $aCapital and Ownership Structure$2imf 606 $aContingent Pricing$2imf 606 $aCredit risk$2imf 606 $aCredit$2imf 606 $aCurrencies$2imf 606 $aCurrency$2imf 606 $aExchange rates$2imf 606 $aFinancial institutions$2imf 606 $aFinancial regulation and supervision$2imf 606 $aFinancial Risk and Risk Management$2imf 606 $aFinancial risk management$2imf 606 $aFinancial services law & regulation$2imf 606 $aFinancing Policy$2imf 606 $aForeign Exchange$2imf 606 $aForeign exchange$2imf 606 $aFutures Pricing$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aGoodwill$2imf 606 $aGovernment and the Monetary System$2imf 606 $aInternational Financial Markets$2imf 606 $aInvestment & securities$2imf 606 $aInvestments: Bonds$2imf 606 $aMonetary economics$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aMonetary Systems$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMoney$2imf 606 $aOption pricing$2imf 606 $aPayment Systems$2imf 606 $aRegimes$2imf 606 $aStandards$2imf 606 $aValue of Firms$2imf 607 $aUnited States$2imf 615 0$aCredit$xMathematical models. 615 0$aFinancial risk management. 615 7$aBanks and Banking 615 7$aBonds 615 7$aCapital and Ownership Structure 615 7$aContingent Pricing 615 7$aCredit risk 615 7$aCredit 615 7$aCurrencies 615 7$aCurrency 615 7$aExchange rates 615 7$aFinancial institutions 615 7$aFinancial regulation and supervision 615 7$aFinancial Risk and Risk Management 615 7$aFinancial risk management 615 7$aFinancial services law & regulation 615 7$aFinancing Policy 615 7$aForeign Exchange 615 7$aForeign exchange 615 7$aFutures Pricing 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aGoodwill 615 7$aGovernment and the Monetary System 615 7$aInternational Financial Markets 615 7$aInvestment & securities 615 7$aInvestments: Bonds 615 7$aMonetary economics 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aMonetary Systems 615 7$aMoney and Monetary Policy 615 7$aMoney 615 7$aOption pricing 615 7$aPayment Systems 615 7$aRegimes 615 7$aStandards 615 7$aValue of Firms 676 $a332.152 700 $aWiener$b Zvi$01816635 701 $aGalai$b Dan$0147260 801 0$bDcWaIMF 906 $aBOOK 912 $a9910965596203321 996 $aCredit Risk Spreads in Local and Foreign Currencies$94372888 997 $aUNINA LEADER 03366oam 2200433zu 450 001 9911019671203321 005 20210807002952.0 010 $a3-527-61987-9 035 $a(CKB)1000000000441545 035 $a(SSID)ssj0000354307 035 $a(PQKBManifestationID)11280758 035 $a(PQKBTitleCode)TC0000354307 035 $a(PQKBWorkID)10302367 035 $a(PQKB)10172666 035 $a(NjHacI)991000000000441545 035 $a(EXLCZ)991000000000441545 100 $a20160829d2005 uy 101 0 $aeng 135 $aur||||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aHandbook of Polymer Reaction Engineering 210 31$a[Place of publication not identified]$cJohn Wiley & Sons Incorporated$d2005 215 $a1 online resource (1000 pages) 300 $aBibliographic Level Mode of Issuance: Monograph 311 $a3-527-31014-2 327 $aINTRODUCTION TO POLYMER REACTION ENGINEERING, AN INTEGRATED APPROACH.POLYMER CHARACTERIZATION.POLYMER THERMODYNAMICS.POLYCONDENSATION.FREE RADICAL POLYMERIZATION: HOMOGENEOUS.FREE RADICAL POLYMERIZATION: SUSPENSION.Emulsion Polymerization.Ionic Polymerization.COORDINATION POLYMERIZATION.Numerical Methods.SCALE-UP.SAFETY IN POLYMERIZATION PROCESSES.Measurement and control of polymerization reactors.POLYMER PROPERTIES.POLYMER MECHANICAL PROPERTIES.POLYMER STABILIZATION AND DEGRADATION.Modification Processes.Thermosets.Fibers.Removable.Novel polymers and Developement.Recent Developments in Polymer Processes. 330 $aThis first book dedicated to all aspects of the field presents our current knowledge in its entirety, covering the necessary disciplines and processes involved - from the monomer to the final product. With an international editor and author team from academia and such leading chemical companies as Bayer, BASF and DuPont, the text adopts a multidisciplinary approach and a practical point of view. Starting with polymer chemistry and thermodynamics, the book goes on to deal with measurement, control, and characterization, before tackling process development, safety issues, scale-up, and modeling. It concludes with emerging processes. With its unparalleled depth of coverage, this will be the definitive reference on this topic for years to come. The impulse for this book comes from the Working Party on Polymer Reaction Engineering of the European Federation of Chemical Engineering, and internationally recognized experts from different fields in industry and academia have come together to put their knowledge in writing. There is nothing like colleagues' comments to recommend a book: 'This handbook is an excellent idea since there is a gap in the literature expecially concerning the significant research and development that has recently been carried out in this field.' 'Authors and editors are active academic and industrial polymer reaction engineers - among the best in the field.' 'In my opinion there is a definite need because there is no similar publication available in English covering engineering aspects'. 606 $aPolymerization 615 0$aPolymerization. 676 $a547.28 700 $aMeyer$b Thierry$01284457 702 $aKeurentjes$b Jos 801 0$bPQKB 906 $aBOOK 912 $a9911019671203321 996 $aHandbook of Polymer Reaction Engineering$94416955 997 $aUNINA