Examples – 소송, 상품적 결함, 다양한 기술적 혁신과 같은 특정기업에만 존재하는 고유의 위험
요구수익률에 거의 영향을 미치지 못한다.
- 분산투자를 통해 제거 가능하기 때문
예를들어,
위험투자의 주식시장의 가치가 국채를 10% 능가하고 주식의 Beta 계수가 1.25라고 할때
default, repudiation/moratorium of a nation, and restructuring.
Reference Assets are the assets being an object of credit events, and this is referred to as reference credits or underlying assets. On the basis of the credit levels of reference assets, the possibility of occurrences of credit events differs and it puts massive influences on the decision of premium. Generally, protection buyer u
default, the introduction of so called downturn loss-given-default (LGD) estimates and the appropriate calibration of the risk functions, which convert loss estimates into regulatory capital requirements. The Committee also required that banks conduct stress tests that consider the downward migration of their credit portfolios in a recession.
In addition, the Committee has put in place a compr
default swaps (CDSs) on various tranches of collateralized debt obligations built on subprime residential mortgages. There is a negative relationship between the two, suggesting that the carry trade is being unwound as the price of subprime mortgage securities fall.”
The scatter chart reveals that the subprime crisis has been intimately linked with the unwinding of the yen carry trade in term
Risk
As we saw in the previous part, the value of real fluctuated dramatically as the political and
economic environments became instable in Brazil and nearby countries. The fluctuation of real
caused extreme fluctuation in exchange rate and this condition gave severe risk to Dell Mercosur.
This kind of risk is called Foreign-exchange risk.
There are