Temat: Interest rate - Prolib Integro

Skocz do pozycji: 1.

Tytuł:: Zabezpieczenie ryzyka stopy procentowej w kredytowaniu działalności przedsiębiorstw
The Hedging of Interest Rate Risk in Enterprises’ Loans
Autorzy:: Klimontowicz, Monika
Pyka, Anna
Tematy:: ryzyko stopy procentowej
transakcje IRS
transakcje FRA
transakcje
CIRS
opcje na stopę procentową
interest rate risk
interest rate swap
forward rate agreements
currency interest
rate swap
interest rate options; Pokaż więcej
Wydawca:: Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Powiązania:: https://bibliotekanauki.pl/articles/2182059.pdf Link otwiera się w nowym oknie
Opis:: Poprawiająca się koniunktura gospodarcza, złagodzenie polityki kredytowej banków oraz niski poziom stóp procentowych sprzyjają zwiększaniu zobowiązań kredytowych firm. Kredyty te są zwykle kredytami o zmiennym oprocentowaniu, co powoduje trudności w oszacowaniu kosztu pozyskanego kapitału wynikające z ryzyka wzrostu stóp procentowych. Wychodząc naprzeciw potrzebom klientów w tym zakresie, banki oferują szereg produktów mających na celu zabezpieczenie przedsiębiorstw przed tego typu ryzykiem. Celem artykułu jest określenie przesłanek korzystania przez przedsiębiorstwa z instrumentów zabezpieczających ryzyko zmian stóp procentowych. Realizacja tego celu wymagała omówienia ryzyka transakcyjnego wynikającego ze zmiany stóp procentowych, scharakteryzowania dostępnych na polskim rynku instrumentów zabezpieczających to ryzyko oraz przeanalizowania związanych z nimi korzyści i ryzyk.
The improving economic situation, loosened credit policy of banks and a low level of interest rates foster the increase in enterprises’ credit obligations. Variable rates that are characteristic of those credits cause some difficulties in capital cost estimation resulting from the risk of interest rate increase. To meet enterprises’ expectations, banks are offering a range of products aimed at hedging such a risk. The purpose of the paper is to define the prerequisites for using interest rate hedging instruments in enterprises’ policies. It required characterising the nature of transactional risk resulting from interest rate changes, presenting financial instruments offered by banks operating on the Polish banking market and analysing advantages and threats connected with such transactions.
Dostawca treści:: Biblioteka Nauki

Artykuł

na półce

Skocz do pozycji: 2.

Tytuł:: Interest Rate Risk in Nonfinancial Company
Autorzy:: Bulski, Michał
Tematy:: Ryzyko
Stopa procentowa
Interest rate
Risk; Pokaż więcej
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Powiązania:: https://bibliotekanauki.pl/articles/591158.pdf Link otwiera się w nowym oknie
Opis:: Ryzyko stopy procentowej w przedsiębiorstwie niefinansowym
Dostawca treści:: Biblioteka Nauki

Artykuł

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Skocz do pozycji: 3.

Tytuł:: Control in loan transactions: adjusting the payments to the real inflation rates
Autorzy:: Cruz Rambaud, S.
González Sánchez, J.
Tematy:: adjustment
loan
payment
inflation
interest rate; Pokaż więcej
Wydawca:: Polska Akademia Nauk. Instytut Badań Systemowych PAN
Powiązania:: https://bibliotekanauki.pl/articles/205670.pdf Link otwiera się w nowym oknie
Opis:: This paper explores the effect of inflation on general financial transactions and particularly on loans. For this purpose, inflation is specified in the mathematical expression of a capitalization or discounting function. Thus, we write these functions as the product of an inflation-free capitalization or discounting function and the law of variation of the money purchasing power. As an immediate consequence, we show that the instantaneous rate of a capitalization or discounting function is the sum of the instantaneous rates of each component. Later, this decomposition is applied to simple and compound financial transactions, leading to the equivalence among deflated amounts by means of an inflation-free capitalization or discounting function. This analysis is applied to a loan transaction where we introduce six methods to adjust the payments to the real inflation, because, in a beginning, these payments were calculated with the predicted inflation rates.
Dostawca treści:: Biblioteka Nauki

Artykuł

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Skocz do pozycji: 4.

Tytuł:: COMPARATIVE ANALYSIS OF THE TERM STRUCTURE OF INTEREST RATES (Analiza komparatywna koncepcji czasowej struktury stóp procentowych. Podejscie analityczne i krytyczne)
Autorzy:: Gemzik-Salwach, Agata.
Tematy:: INTEREST RATE
TERM STRUCTURE OF INTEREST RATES
YIELD CURVE; Pokaż więcej
Wydawca:: Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
Powiązania:: https://bibliotekanauki.pl/articles/599670.pdf Link otwiera się w nowym oknie
Opis:: The term structure of interest rates is one of the basic and the most important areas of interest to financial markets and the economies. Theories of interest-rate structure describe the factors determining the variation in interest rates and explain the mechanisms of their formation. The structure of the interest rate gives all information required to forecast term interest. This paper is an attempt to systematize and organize the knowledge. The first section of this article describes theories of the term structure of interest rates, determinants of the relationship between the interest rate and the time to maturity, and mechanisms shaping the level of interest rates. The article is focused on basic assumption of the theories. The next section shows the main methods of estimation of the yield curve. All concepts presented in the article have been compiled together and compared.
Dostawca treści:: Biblioteka Nauki

Artykuł

na półce

Skocz do pozycji: 5.

Tytuł:: Wpływ wysokości długu publicznego na koszty jego obsługi
Impact of the Level of Public Debt on its Service Costs
Autorzy:: Brzozowski, Michał
Tematy:: interest rate
public debt
Non-linearity; Pokaż więcej
Wydawca:: Akademia Leona Koźmińskiego w Warszawie
Powiązania:: https://bibliotekanauki.pl/articles/956883.pdf Link otwiera się w nowym oknie
Opis:: Purpose: The article aims at analyzing the functional form of the relation between the level of public debt and the government bond yields in both developed and developing countries. A surge in public indebtedness following the financial crisis in 2008-2010 undermined the credibility of sovereigns in the credit markets. As a result, the government bond yields have risen, thus amplifying the problem of rapidly expanding public debts. The purpose of the article is to estimate the threshold value of government debt above which its service costs rapidly increase. Methodology: The relation between the 10-year government bond real interest rate and the level of debt is investigated with the use of spline regression with cubic splines. The regression model is estimated using annual data for 66 countries that spans between the years 1980-2010. An additional analysis is conducted for the last decade and after splitting the sample into high-income and catching-up countries. Findings: In the sample that covers all countries and the whole 1980-2010 period no relation between the level of debt and interest rate has been detected. In the years 2001-2010 the threshold value of debt above which the real interest rate starts to grow rapidly is estimated to be around 150% of GDP in catching-up countries and about 110% of GDP in high-income countries. Research implications: An analysis of the impact of fiscal policy on the level of interest should take into account the likely non-linearity of the relationship. Originality: Spline regression has not yet been used in the analysis of the relation between debt and interest rate.
Dostawca treści:: Biblioteka Nauki

Artykuł

na półce

Skocz do pozycji: 6.

Tytuł:: Wpływ ratingów kredytowych państw europejskich na koszt kapitału
Autorzy:: Chodnicka, Patrycja
Tematy:: credit ratings, interest rate, credit risk; Pokaż więcej
Wydawca:: Szkoła Główna Handlowa w Warszawie
Powiązania:: https://bibliotekanauki.pl/articles/630042.pdf Link otwiera się w nowym oknie
Opis:: The purpose of this paper is to analyze the impact of the countries’ credit ratingson the cost of capital through review of the subject literature and panel datamodels for the 35 European countries for the period 2005–2013.
Dostawca treści:: Biblioteka Nauki

Artykuł

na półce

Skocz do pozycji: 7.

Tytuł:: Low Interest Rates – A Real Threat to German Banks or First-Class Whining?!
Autorzy:: Hastenteufel, Jessica
Fuchs, Lena
Tematy:: interest
low interest rate phase
banking
monetary policy; Pokaż więcej
Wydawca:: Akademia Górniczo-Hutnicza im. Stanisława Staszica w Krakowie. Wydawnictwo AGH
Powiązania:: https://bibliotekanauki.pl/articles/1396858.pdf Link otwiera się w nowym oknie
Opis:: The current phase of low interest rates poses major challenges for banks. A continuous decline in the interest result, which is so important for the profitability of banks, has been observed for years, as it is becoming increasingly difficult for banks to generate sufficient income from the interest margin. This is partly due to the European Central Bank’s expansive monetary policy. However, other factors, such as advancing digitization, also play a role here. The structure of the German banking market and the mostly strong focus of German banks on interest-bearing business are also increasingly becoming a problem. Still, the question arises, whether the current phase of low interest rates is actually a serious threat to banks or whether they are complaining at a high level.
Dostawca treści:: Biblioteka Nauki

Artykuł

na półce

Skocz do pozycji: 8.

Tytuł:: THE APPLICATION OF REGRESSION ANALYSIS IN TESTING UNCOVERED INTEREST RATE PARITY
Autorzy:: Kisielińska, Joanna
Czech, Katarzyna
Tematy:: uncovered interest rate parity
exchange rate
linear regression model; Pokaż więcej
Wydawca:: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie. Katedra Ekonometrii i Statystyki
Powiązania:: https://bibliotekanauki.pl/articles/453467.pdf Link otwiera się w nowym oknie
Opis:: The aim of the paper is to evaluate and compare two linear regression models proposed by Froot and Frankel (1989) and to show their application in verification of the uncovered interest rate parity (UIP) hypothesis in the selected ten exchange rate markets. The paper shows that both models proposed by Froot and Frankel (1989) are formally equivalent, but they may give different regression results. Many researchers claim that uncovered interest rate parity tends to hold more frequently in emerging markets than in developed economies. The paper is focused on five developed and five emerging economies. It is partly confirmed that developing countries work better in terms of UIP.
Dostawca treści:: Biblioteka Nauki

Artykuł

na półce

Skocz do pozycji: 9.

Tytuł:: Interest rate dynamics on savings: Evidence from Sri Lanka
Autorzy:: Aslam, A. L. Mohamed
Tematy:: Dynamics
Economists
Interest rate
Policymakers
Savings
Sri Lanka; Pokaż więcej
Wydawca:: Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Powiązania:: https://bibliotekanauki.pl/articles/1165693.pdf Link otwiera się w nowym oknie
Opis:: Economists believe the interest rate is an interim agent for savings, which promotes the people to lose their present consumption continuously. So, this study also assumed that there was a relationship between the interest rate and savings. Based on that, the objective of this study was to explore the interest rate dynamics on savings in Sri Lank over the period of 1977 to 2017. In this study annual time series data for the following variables: interest rate, savings, and gross domestic product were used, and the Johansen and Juselius cointegration technique was employed to test the cointegration relationship between the variables. In this study, interest rate was considered as key independent variable and savings was dependent variable. Both Augmented Dickey-Fuller (ADF) and Kwiatkowski – Phillips – Schmidt – Shin tests were employed to test the stationarity of the variables. In terms of these tests, all variable were stationary at first difference level. Furthermore, interest rate and savings had the long run relationship and there was short-run causality between interest rate and savings which was confirmed by the results of Vector Error Correction model (VECM). Therefore, the interest rate had long - run and short - run relationship on the savings in Sri Lanka. Finally, this study recommends the policy makers should consider interest rate friendly policy to boost the savings in Sri Lanka.
Dostawca treści:: Biblioteka Nauki

Artykuł

na półce

Skocz do pozycji: 10.

Tytuł:: Effect of Growth Drivers on Cooperative Societies
Autorzy:: Akpoviroro, Kowo Solomon
Amos, Akinbola Olufemi
Olalekan, Akinrinola
Tematy:: Growth Drivers
Interest Rate
Patronage
Savings Plan
Welfare; Pokaż więcej
Wydawca:: Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Powiązania:: https://bibliotekanauki.pl/articles/1166076.pdf Link otwiera się w nowym oknie
Opis:: A cooperative society has remained a major concern especially in the developing countries like Nigeria. This study was born out of necessity to provide answers to fundamental questions raised on cooperatives societies. The objectives of this research was to ascertain the significant relationship between growth drivers and cooperative societies and to investigate significant relationship between cooperative societies and growth drivers such as interest rate, savings plan and to determine if amount borrowed has assisted to increase welfare and satisfaction of members. The primary data was gathered using structured questionnaire. The survey method was used and a cross-sectional design was adopted. The two institution chosen are the Federal University of Agriculture, Abeokuta (FUNAAB), and Covenant University (CU). Total population of the selected cooperative society in FUNAAB is 573 and the total population of the selected cooperative society in CU is 697. The data was analysed using statistical package for the social sciences, (SPSS). It also made use of analysis of variance (ANOVA), Simple linear regression analysis was used to test hypotheses one and correlation analysis was employed to test hypothesis two. The study indicate that interest rate of cooperative societies is a significant predictor of patronage of the cooperative, it was revealed that there exist a relationship between loan repayment periods, savings plan and the satisfaction of members of the cooperative The study recommended the need for the improvement in the performance of the cooperative societies.
Dostawca treści:: Biblioteka Nauki

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