A perspective on credit derivatives

Batten, J; Hogan, W

A perspective on credit derivatives

Batten, J Hogan, W

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Publication Type:: Journal Article
Citation:: International Review of Financial Analysis, 2002, 11 (3), pp. 251 - 278
Issue Date:: 2002-10-16

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Field	Value	Language
dc.contributor.author	Batten, J	en_US
dc.contributor.author	Hogan, W	en_US
dc.date.issued	2002-10-16	en_US
dc.identifier.citation	International Review of Financial Analysis, 2002, 11 (3), pp. 251 - 278	en_US
dc.identifier.issn	1057-5219	en_US
dc.identifier.uri	http://hdl.handle.net/10453/5291
dc.description.abstract	This contribution offers an explanation of credit derivatives as a group of financial instruments having a common purpose being the managing of credit exposures, and thus credit or default risk. This paper explores the links between their economic and financial manifestations and the legal bases for their widespread application. To ensure an understanding of the purposes served by each of the main types of credit derivatives, a detailed scrutiny of individual instruments is undertaken. Issues relating law and economics to trading in this type of derivative are investigated, then pricing issues and empirical evidence are considered. A summary brings together the range of features bearing upon the effective development of a market in these financial instruments. © 2002 Elsevier Science Inc. All rights reserved.	en_US
dc.relation.ispartof	International Review of Financial Analysis	en_US
dc.relation.isbasedon	10.1016/S1057-5219(02)00104-7	en_US
dc.subject.classification	Finance	en_US
dc.title	A perspective on credit derivatives	en_US
dc.type	Journal Article
utslib.citation.volume	3	en_US
utslib.citation.volume	11	en_US
utslib.for	1503 Business and Management	en_US
utslib.for	0102 Applied Mathematics	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
utslib.for	1801 Law	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.issue	3	en_US
pubs.publication-status	Published	en_US
pubs.volume	11	en_US

Abstract:

This contribution offers an explanation of credit derivatives as a group of financial instruments having a common purpose being the managing of credit exposures, and thus credit or default risk. This paper explores the links between their economic and financial manifestations and the legal bases for their widespread application. To ensure an understanding of the purposes served by each of the main types of credit derivatives, a detailed scrutiny of individual instruments is undertaken. Issues relating law and economics to trading in this type of derivative are investigated, then pricing issues and empirical evidence are considered. A summary brings together the range of features bearing upon the effective development of a market in these financial instruments. © 2002 Elsevier Science Inc. All rights reserved.

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http://hdl.handle.net/10453/5291