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Preisrisiken durch versteckte Optionen in Bankprodukten: Analyse, Duplikation und Risikomanagement mittels moderner Finanzinstrumente

Preisrisiken durch versteckte Optionen in Bankprodukten: Analyse, Duplikation und Risikomanagement mittels moderner Finanzinstrumente

          
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About the Book

Masterarbeit aus dem Jahr 2010 im Fachbereich VWL - Finanzwissenschaft, Note: 1,3, Hochschule für Wirtschaft und Umwelt Nürtingen-Geislingen; Standort Nürtingen, Sprache: Deutsch, Abstract: "[...] the primary goal of Risk-Management is not to dampen swings in corporate cash flows or values, but rather to provide protection against the possibility costly lower-tail outcomes - situations that would cause financial distress or make a company unable to carry out its investment strategy." Dieses Zitat von Merton H. Miller, Mit-Nobelpreisträger der Wirtschaft-wissenschaften des Jahres 1990, misst dem effizienten Risikomanagement innerhalb des Unternehmens eine existenzielle Bedeutung bei. Obwohl Miller diese Aussage bereits 2003 machte, zeigt die gegenwärtige Finanzmarktkrise einmal mehr, dass ein funktionierendes Management der Unternehmensrisiken von besonderer strategischer Wichtigkeit ist. Gerade für die Bankwirtschaft nimmt das Risikomanagement aufgrund der hohen wirtschaftlichen Verflechtung einen besonderen Stellenwert ein. Auch hier lehrt die Finanzkrise, dass ein konsequentes Risikomanagement als tragender Erfolgsfaktor des jeweiligen Kreditinstituts interpretiert werden kann. Die Risiken von versteckten Vertragsoptionen entstehen bereits bei der Produktentwicklung. Die Forderung der Kunden nach flexiblen und individuellen Produktlösungen einerseits und der, mit rückläufigen Zinsüberschüssen verbundene, enorme Wettbewerbsdruck andererseits, sind wie zwei Seiten einer Medaille. Die hohe Produktvariation als Resultat der geforderten Flexibilität, mündet in einer Zunahme von versteckten Optionen in Bankverträgen. Die Wahrnehmung der versteckten Optionsrechte führt jedoch noch längst nicht zu der Bekenntnis, diese in das betriebliche Risikomanagement zu integrieren. Mehrheitlich besitzen versteckte Optionen die Eigenschaft, dass die Entscheidung über die Optionsausübung beim Bankkunden angesiedelt ist. Die Bewertung ist deswegen so elementar, da ohne die Implementi


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Product Details
  • ISBN-13: 9783656024651
  • Publisher: Grin Publishing
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 7 mm
  • Weight: 168 gr
  • ISBN-10: 3656024650
  • Publisher Date: 10 Oct 2011
  • Height: 210 mm
  • No of Pages: 120
  • Series Title: German
  • Sub Title: Analyse, Duplikation und Risikomanagement mittels moderner Finanzinstrumente
  • Width: 148 mm


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Preisrisiken durch versteckte Optionen in Bankprodukten: Analyse, Duplikation und Risikomanagement mittels moderner Finanzinstrumente
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