Il mercato primario delle obbligazioni bancarie strutturate. Alcune considerazioni sui profili di trasparenza e correttezza del comportamento degli intermediari
AbstractThe study analyses the Italian market structure of banks’structured debt securities. This financial segment has experienced a tremendous growth in the last five years as to overcome the size of ordinary banking bonds. The research examines the complexity of structured bonds evaluation for non-sophisticated investors. Quality of information spread is such that investors are capable to appreciate definite bond component performance, but they have trouble in assessing the derivative component one. Banks have a complete informational set to value the two components that enables them to set an issuing price higher than the market theoretical value and to get net profits without risks.
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Bibliographic InfoArticle provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 91 (2001)
Issue (Month): 7 (September)
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Find related papers by JEL classification:
- D4 - Microeconomics - - Market Structure and Pricing
- G2 - Financial Economics - - Financial Institutions and Services
- K2 - Law and Economics - - Regulation and Business Law
- C0 - Mathematical and Quantitative Methods - - General
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