Ομόλογα φυσικών καταστροφών και διαχείριση χαρτοφυλακίων
Part of : Σπουδαί : journal of economics and business ; Vol.52, No.3, 2002, pages 156-166
Issue:
Pages:
156-166
Parallel Title:
Catastrophe bonds and portfolio management
Author:
Abstract:
Catastrophe bonds were first created to compensate for the shortage of financial capacity of the insurance of natural catastrophes of the global reinsurance market. The marketing of catastrophe bonds is based on the common sense feeling that natural catastrophes are uncorrelated with systemic financial market risk. We show, however, that the financial attractiveness of catastrophe bonds should not be overstated, because, under certain circumstances, such a bond is exposed to interest rate risk.
Subject (LC):
Notes:
Περιέχει βιβλιογραφία
