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Pricing models of covered bonds—a Nordic study

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dc.contributor Aalto-yliopisto fi
dc.contributor Aalto University en
dc.contributor.author Sulku, Petri
dc.contributor.author Falkenbach, Heidi
dc.date.accessioned 2014-11-21T10:00:19Z
dc.date.available 2014-11-21T10:00:19Z
dc.date.issued 2011
dc.identifier.citation Sulku, Petri & Falkenbach, Heidi. 2011. Pricing models of covered bonds—a Nordic study. International Journal of Strategic Property Management. P. 1-9. 1648-715X (printed). 10.3846/1648715x.2011.565910. en
dc.identifier.issn 1648-715X (printed)
dc.identifier.issn 1648-9179 (ISSN-L)
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/14469
dc.description.abstract Covered bonds are an alternative way of investing indirectly in the debt side of real estate, which is beneficial for investors looking for alternatives to government or corporate bonds. Due to the dual nature of the protection offered by covered bonds, they have a justified place in investors' portfolios. This paper studies the pricing of covered bonds and tests it with data gathered from the nordic countries. Using the tested reduced form model, it was possible to price covered bonds with satisfactory results. The estimated model was highly statistically significant and performed according to the economic reasoning behind it. The estimated model also worked well in comparison to research conducted earlier on competing models, such as the structural models. en
dc.format.extent 1-9
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.publisher Vilnius Gediminas Technical University en
dc.relation.ispartofseries International Journal of Strategic Property Management en
dc.relation.ispartofseries Volume 15, Issue 1
dc.rights This is an Accepted Manuscript of an article published by Taylor and Francis in International Journal of Strategic Property Management (2011), available online at: http://www.tandfonline.com/10.3846/1648715X.2011.565910. en
dc.subject.other Economics en
dc.subject.other Finance en
dc.subject.other Real estate en
dc.title Pricing models of covered bonds—a Nordic study en
dc.type A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä fi
dc.description.version Peer reviewed en
dc.rights.holder Vilnius Gediminas Technical University; Publisher: Taylor and Francis
dc.contributor.school Insinööritieteiden korkeakoulu fi
dc.contributor.school School of Engineering en
dc.contributor.department Department of Real Estate, Planning and Geoinformatics en
dc.contributor.department Maankäyttötieteiden laitos fi
dc.subject.keyword covered bonds en
dc.subject.keyword reduced form models en
dc.subject.keyword structural models en
dc.subject.keyword pricing en
dc.subject.keyword indirect real estate investment en
dc.identifier.urn URN:NBN:fi:aalto-201411213037
dc.type.dcmitype text en
dc.identifier.doi 10.3846/1648715x.2011.565910
dc.contributor.lab Real Estate Research Group (REG) en
dc.contributor.lab Kiinteistötalouden tutkimusryhmä (REG) fi
dc.type.version Post print en

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