SOME LESS DESIRABLE EFFECTS REGARDING THE CURRENT USE OF DERIVATIVES
Abstract
Derivative financial instrument were created with the purpose of allocating risks in an optimal manner and for promoting market efficiency, but their practical development poses a number of problems: derivatives have fuelled the volatility of the underlying assets, being regularly individualized as speculative instruments. The ambivalence of derivatives raises the thorny question of the control of their use. The 2007 financial crisis placed at the centre of attention the importance of the OTC markets of compensated and uncompensated derivative products and their economic value for companies and investors for the control of the financing risk and the risk of investments in financial markets.
Keywords
Full Text:
PDFReferences
BAFFES, J., HANIOTIS, T., July 2010, Placing the 2006/08 Commodity Price Boom into Perspective,The World Bank Development Prospects Group, Policy Research Working Paper 5371
http://documents.worldbank.org/curated/en/921521468326680723/pdf/WPS5371.pdf
BREALEY, R., MYERS, C., ALLEN, F., 2011, Principles of Corporate Finance, 10th edition, McGraw-Hill/Irwin, New York
CECCHETTI, S., GYNTELBERG, J., HOLLANDERS, M., 2009, Central counterparties for over-the-counter derivatives, BIS Quarterly Review, International banking and financial market developments
CASE, C., TEOMAN, T., 2005, Understanding the drivers of hedge fund strategy returns, JPMorgan Alternative Asset Management,
https://www.jpmorgan.com/jpmpdf/1158630144925.pdf
COUDERT, VIRGINIE, GEX, 2010, M., The credit default swap market and the settlement of large defaults, International Economics no. 123
DRAGOTĂ, V. (coordinator), 2009, Gestiunea portofoliului de valori mobiliare. 2th edition, Economică Publishig House, Bucureşti
HULL, J., 2012, Options, futures and other derivatives, 8th edition, Prentice Hall, Boston
MARKOSE, SHERI, 2012, Systemic Risk from Global Financial Derivatives: A Network Analysis of Contagion and Its Mitigation with Super-Spreader Tax, International Monetary Fund WP 12/282
ROSS, S., WESTERFIELD, R., JORDAN, B., 2002, Fundamentals of Corporate Finance, Sixth Edition, The McGraw−Hill Companies, New York
SANTANA-BOADO, LEONELA, GROSS, A., 2009, Overview of the world’s commodity exchanges – 2007, United Nations Conference on Trade and Development, United Nations New York and Geneva
STANCU, I., 2004, Finanțe: Piețe financiare și gestiunea portofoliului, 2th edition, Economică Publishig House, București
SUSHKO, V., TURNER, G., 2018 , The implications of passive investing for securities markets, BIS Quarterly Review, 113-131
https://www.bis.org/publ/qtrpdf/r_qt1803j.pdf
TANG, K., XIONG, W., 2010, Index Investing and the Financialization of Commodities, National Bureau of Economic Research, Working Paper No. 16385
http://www.nber.org/papers/w16385.pdf
EUROPEAN COMMISSION, https://ec.europa.eu/info/business-economy-euro/banking-and-finance/financial-markets/post-trade-services/derivatives-emir_en
INTERNATIONAL MONETARY FUND, April 2010, Global Financial Stability Report, Meeting New Challenges to Stability and Building a Safer System, Chapter III. Making Over-the-Counter Derivatives Safer: The Role of Central Counterparties, Washington DC, 91-117
Refbacks
- There are currently no refbacks.
Copyright (c) 2018 Luiza Madalina Apostol
This work is licensed under a Creative Commons Attribution 4.0 International License.
LUCRĂRI ȘTIINȚIFICE MANAGEMENT AGRICOL
ISSN print 1453-1410
ISSN online 2069-2307
(former ISSN 1453-1410, E-ISSN 2069-2307)
PUBLISHER: AGROPRINT Timisoara, Romania
PAPER ACCESS: Full text articles available for free
FREQUENCY: Annual
PUBLICATION LANGUAGE: English
______________________________________________________________________________________________
Banat`s University of Agricultural Sciences and Veterinary Medicine “King Michael I of Romania” from Timisoara
Faculty of Management and Rural Tourism
300645, Timisoara, Calea Aradului 119, Romania
E-mail: tabitaadamov2003 [at] yahoo.com
Phone: +40-256-277439, Fax.: +40-256-277031