Nội dung được dịch bởi AI, chỉ mang tính chất tham khảo
Trái phiếu doanh nghiệp: phiếu lãi cố định so với phiếu lãi ngẫu nhiên - một nghiên cứu thực nghiệm
Journal of Asset Management - 2024
Tóm tắt
Bài báo này nghiên cứu một mô hình được đề xuất bởi Baaquie (Phys A Stat Mech Appl 541:123367, 2020b) trong đó một trái phiếu doanh nghiệp trả phiếu lãi mang tính ngẫu nhiên - phụ thuộc vào giá trị của nhà phát hành. Kết quả cho thấy bằng cách xem xét các trái phiếu với phiếu lãi ngẫu nhiên ‘tương đương’ với trái phiếu có phiếu lãi cố định (được định nghĩa trong bài báo), giá của trái phiếu có phiếu lãi cố định có thể được giải thích một cách chính xác. Mô hình phiếu lãi ngẫu nhiên được đề xuất có một cơ chế phòng hộ cho nhà phát hành - và có tính năng chia sẻ lợi nhuận và thua lỗ giữa nhà đầu tư và nhà phát hành, điều này khiến nó trở thành một công cụ khả thi cho tài chính Hồi giáo.
Từ khóa
#trái phiếu doanh nghiệp #phiếu lãi ngẫu nhiên #tài chính Hồi giáo #mô hình #chia sẻ lợi nhuận #phòng hộTài liệu tham khảo
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