Points out that preference shares are much more heavily used in emerging economies than in advanced ones to finance new investment projects and develops a mathematical model to show the conditions under which companies are willing to issue them at a price which will attract investors. Outlines...

Purpose – Proposes to investigate the current practices of credit risk management by the largest US‐based financial institutions. Owing to the increasing variety in the types of counterparties and the ever‐expanding variety in the forms of obligations, credit risk management has jumped to...