[Autom. eng. transl.] The essay proposes, in the first part, a morphological description of the class of structured bonds on the Italian market, also offering a classification criterion for the same. The second part of the volume intends to investigate whether the legislative and regulatory interventions that have taken place over the last decade have actually produced an improvement in the conditions of transparency and efficiency of the structured bond market in Italy. In this regard, market efficiency is measured in terms of the difference between the theoretical value of the instruments traded and the actual price at which the negotiations take place, starting from the consideration that in an efficient market the price of a security must converge to its theoretical value. The work illustrates the pricing methods used to calculate this indicator on a sample of structured bonds representing the issues made by banks on the Italian market. The third part of the work is dedicated to the analysis of the primary and secondary market of structured bonds.
|Translated title of the contribution||[Autom. eng. transl.] Structured bonds|
|Number of pages||171|
|Publication status||Published - 2010|
- linked bond
- obbligazioni strutturate
- reverse convertible
- reverse floater