Analiza kowenantów w obligacjach korporacyjnych emitowanych przez niebankowe spółki z branży finansowej

• Autorzy: Natalia Śmieja , Marek Pauka

Warianty tytułu

Covenants Analysis in Corporate Bonds Issued by the Debt Collection Firms

• Języki publikacji: PL

Abstrakty

Celem opracowaniajest ocena jakości stosowanych kowenantów na rynku obligacji, co zostanie osiągnięte dzięki realizacji celów pomocniczych: identyfikacji czynników, które determinują liczbę kowenantów zawartych w warunkach emisji, ustaleniu płaszczyzn konfliktu pomiędzy akcjonariuszami a obligatariuszami, które są najczęściej monitorowane dzięki kowenantom, analizie cech wskaźników finansowych wykorzystywanych w roli kowenantów. (fragment tekstu)

EN

The increasing importance of the long term corporate bonds as a source of financing of Polish enterprises contributes to the growing importance of the issue terms in determining the risk of investing in bonds. The aim of this study was to assess the quality of covenants used in the bond contracts by identifying the factors that determine the number of covenants contained in the issue terms, the determination of the grounds of the conflict between shareholders and bondholders, which are usually covered by covenants and to conduct analysis of the characteristics of financial ratios, which are used as financial covenants. (original abstract)

Słowa kluczowe

PL

Obligacje korporacyjne; Niebankowe instytucje finansowe; Instrumenty dłużne; Wyniki badań; Kowenanty finansowe

EN

Corporate bonds; Non-banking financial companies; Debt instrument; Research results; Financial covenant

• Czasopismo: Annales Universitatis Mariae Curie-Skłodowska. Sectio H. Oeconomia
• Rocznik: 2013
• Tom: 47
• Numer: nr 3
• Strony: 551--561

Twórcy

autor

Natalia Śmieja

• Uniwersytet Ekonomiczny we Wrocławiu

autor

Marek Pauka

• Uniwersytet Ekonomiczny we Wrocławiu

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