Il mercato primario delle obbligazioni bancarie strutturate. Alcune considerazioni sui profili di trasparenza e correttezza del comportamento degli intermediari
The 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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Volume (Year): 91 (2001)
Issue (Month): 7 (September)
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