Loan Guarantees: An Option Pricing Theory Perspective
In this paper we analyse security loan guarantees in the light of the option pricing theory. We interpret them as put options on the cash flows of a secured debt. We highlight that the value of the guarantee is always positive before a loan’s maturity and it depends on the same factors that determin...
| Autores principales: | , |
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| Formato: | Artículo |
| Lenguaje: | English |
| Publicado: |
EconJournals
2015-12-01
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| Colección: | International Journal of Economics and Financial Issues |
| Materias: | |
| Acceso en línea: | https://dergipark.org.tr/tr/pub/ijefi/issue/31971/352220?publisher=http-www-cag-edu-tr-ilhan-ozturk |