Bonds

The paper examines the features of radio campaigning during the subscription campaigns for Soviet state mass domestic bonds of 1946-1957. It is proposed to analyze these processes and materials within the framework of the «history of emotions» approach. The researcher studied the content of broadcast messages about these events on the radio, identifying their specific features, typical means of persuasion and ways of the presentation of information. In addition, the place of emotional expressions and manifestations in the coverage of subscription campaigns on the radio has been clarified. The author concludes that with the help of this means of communication it was possible to provoke Soviet citizens to the “correct” social emotions and needful political behavior, which was necessary for the rapid implementation of financial and political campaigns. The research is based on archival materials that were not previously introduced into scholar circulation.

Dit boek behandelt alle aspecten van de levensloop van een obligatielening: van de uitgifte, over de algemene vergadering van obligatiehouders, tot de terugbetaling of de wanprestatie door de emittent. De analyse van de (huidige en toekomstige) vennootschapsrechtelijke bepalingen inzake obligaties vormen de kern van dit werk. Daarnaast komen echter ook de relevante bepalingen uit het verbintenissenrecht, het kredietrecht, het financieel recht, het insolventierecht, het consumentenrecht en het fiscaal recht aan bod. De lezer beschikt op die manier over een volledig en systematisch overzicht van deze complexe materie.

We  investigate the polytypism of MoS2 via first-principles crystal structure prediction approach. In particular, we combine the random searching method, AIRSS, for crystal structure prediction, and total energy calculations, based on density functional theory, by using CASTEP. In addition to the semiconductor, 2H/AbA BaB polytype, space group P63/mmc, and the metallic, 1T/ AbC polytype, space group P3m1, the results suggest the formation of a monoclinic, 1M/AbC, space groupP21/m, and two orthorhombic, 2O-polytypes, space groups Fmm2 and Amm2, with different stacking sequences and band structures. The first exhibits a band gap of 1.007 eV and the second a metallic band structure. In addition, other, but unstable, structures are predicted indicating that the main factor driving the polytypism in MoS2 is the relative stacking and orientation of the slabs on which the sulfur atoms are positioned. The complex equilibrium that governs the attraction-repulsion interactions between those sulfur slabs makes reason of the variety of the polytypic structures and consequent mechanical and electronic properties of MoS2

Although there have been recent developments in respect of the diversification of capital markets in GCC countries, the motivations of the firms issuing Sukuk or conventional bonds have remained largely unexplored. Using a sample consisting of 88 Sukuk and 287 conventional bonds issued in GCC countries during the period from 2000 to 2015, this paper analyses the factors affecting an issuer's choice of employing an Islamic bond (Sukuk) structure as compared to conventional bonds instruments. The results suggest that there are some significant differences between Islamic and conventional bond issuer's choice determinants; these can be attributed to the Sukuk's specific characteristics and to the issuer's characteristics. Within the GCC region, the firms, which issue Sukuk, have more specific characteristics. By way of contrast, the determinants among those firms, which issue conventional bonds, have fewer specific characteristics. In addition , our findings provide evidence that in respect of the issuance of larger debt and long tenor, firms prefer to issue Sukuk rather than conventional bonds. However, with regard to the quality of the credit rating, our empirical proxies report a positive correlation with the issuance of conventional bonds and a negative correlation with the issuance of Sukuk.

This study aims to analyzethe contributions of the factors that influence the movement of the yield curve of government securities (SUN) in Indonesia as integratedpaper of Sihombing et al. (2014).Fundingof Indonesian governmentcontinues to grow through the domestic bond market thatindicated by the issuance of bonds that tends to increase overtime since 2005. The conclusions on yield curve studies usually only imposedthe effect of macroeconomic fundamentals, such as interest rates, inflation, economic growth, money supply and the exchange rate. However, researches on the determinants of the yield curve beyond macroeconomic factors, especially in developing countries such as Indonesia is still limited. This study is using the Vector Error Correction Model (VECM), which is a restricted form of Vector Autoregressive (VAR) to analysis the contributions given by factors that affect the fluctuations of a yield curve.The findings of this study found that the movements of interest rates and stock indices contribute to slope fluctuations. Meanwhile, curvature fluctuations are contributed by the movement of interest rates. Finally, the movements of the exchange rate, inflation, foreign ownership and foreign reserves contribute significantly to the movement of level.

It is now well known that the world community must share the risks and hazards deriving from climate change and, more generally, from the environment. The fact that just a few months ago, at the end of summer 2019, the European Bank for reconstruction and development (EBRD), issued the first World's first dedicated climate resilience bond confirms the thesis according to which financial, social and economic instruments are always most necessary for the development of society and to avoid that natural hazards can, as occurred in the past, cause extremely heavy damages with negative repercussions on every single area of a community. Starting from the characteristics of resilience bonds and reinsurance, the paper seeks to highlight the potential advantages that would derive from a systematic application of recursive contractual instruments (smart contracts). The authors focused on the study of the projection of financial and quantitative data of resilience and catastrophe bonds on ...

Islamic banking practices- Afghanistan is a paper on the introduction of Islamic banking with an explanation of Interest, Gharar, Maiser and other elements that are prohibited by Islam. This entail the practical use of Islamic finance principles like Musharakah, Mudarabah, and their types, Murabaha, Bai Mowajal, Bai Salam, Istisna, Ijarah type of Ijaraha, Qardul Hassana, Alwadia, Tasaroq in Islami banking transactions in practice.
It gives a very deep knowledge of Islamic finance and related issues

The article is devoted to theoretical and practical aspects of the participation of foreign companies in the Russian PPP projects. The author analyzes the attractiveness of  the Russian PPP market for foreign investors and companies-subcontractors. The article discusses possible forms of foreign participation in PPP projects and describes the experience of foreign participation in PPP projects in the Russian Federation (in the field of transport infrastructure).
The author identified the main barriers to entry in the PPP market and the major risks of foreign participants in the project, as well as the main directions of activity of the Russian authorities and business - to improve the attractiveness of PPP projects for the community of foreign partners.

El Project Finance  es una ingeniería financiero-jurídica consistente en levantar deuda a través del fondeo contra el cash flow (flujos futuros) producido por un proyecto determinado. En términos sencillos, es un método financiero para conseguir apalancamiento generando deuda conseguida gracias a los flujos futuros que generará un proyecto específico. Para el Paraguay, el Proyect Finance es una metodología muy apta para incrementar la inversión pública. Claro está, no todos los proyectos de inversión pública son aptos para financiarse a través de un Proyect Finance. Pero el apropiado dominio de esta herramienta puede ayudar a combatir la brecha de infraestructura del Paraguay .
El Project Finance es una manera (un tanto compleja financiera y jurídicamente) de poder solventar un proyecto de envergadura significativa, a través de la contratación de deuda respaldada por los flujos futuros que tendrá el proyecto que se solventa en principio.
Sin embargo, para poder dar una definición jurídica útil al Project Finance, es necesario ahondar en todos los conceptos que hacen a su definición autónoma.

People more often than not are enticed about the possibility of taking their companies public or trading on the stock exchange among others. However, there is not enough research on the topic available to them.

This paper seeks to address this issue and dives into the convoluted area that is public company law, stock markets etcetera and provides a rather simplified understanding of the same.

Affection is one of the areas where the crisis of today’s society is observed, as shown, for example, in the confusion between sexual desire, friendship and love. The article’s thesis is that this affective disorder hides something more profound: the fear of others, particularly towards the establishment of a last longing bond with them. To prove it, the author first examines how the separation between affection and love depends on judging bonds as contrary to reason, rendering one incapable of opening up to otherness and learning how to be open. Secondly, the author indicates the need to overcome the dialectic idea of love in order to think of it as a choice of affection for others and as a union of two identities that transcend each other through the asymmetric relationship of the gift of self. From here, he goes on to the final conclusion: the fear of bonds can be overcome when fidelity is lived as a complete synthesis of a, humanly sustainable, affection-love relationship.

This is my HD thesis in Polish. Short version of this book in English was published under the title "Social Bonds in the Political Culture in Kyrgyzstan". This pdf file includes: table of contents and summary in English and Russian, additionally  also theoretical & methodological introduction, conclusions, and name index.

Praca powstała dzięki grantowi habilitacyjnemu MNiSW (rozliczany już w NCN). Recenzentami wydawniczymi byli prof. Wojciech Jakubowski (UWM) i prof. Andrzej Wierzbicki (UW), a recenzentami w przewodzie habilitacyjnym: śp. prof. Andrzej Chodubski (UG), prof. Franciszek Gołembski (AON), prof. Alicja Stępień-Kuczyńska (UŁ) i prof. Stanisław Tokarski (PAN).

АBSTRACT: Proper valuation of bonds is important for issuers of bonds and investors in these securities. The aim of this paper is to present the characteristics and types of bonds, the terminology associated with them and the process of evaluation of different types of bonds on the capital market of the Republika Srpska.
Bonds issued by the Republika Srpska are for the purpose of settling old foreign currency savings, war damage and for budget issues. According to the method of payment of interest on the capital market of the Republika Srpska there are two types of bonds: the bonds amortized annuity and coupon bonds. Accordingly, we have developed a model that shows the simplest effective yield to maturity annually. Based on this model, we facilitate the bond evaluation to investors or the issuers on the basis of duration of bonds.
KEYWORDS: bonds, valuation of bonds, internal value, the effective yield to maturity, duration

Bond is regarded as one of the popular debt instruments in the developed nations. It plays important role in developing diversified investment environment, which can act as a cushion against risk from the concentration in the bank loans and equity market. Bond market would promote efficient diversification and protects the investors from concentrated financial markets securities. Although bond is popular in developed nations it is still not popular in developing countries like Nepal (Bhattacharyay, 2013). Investors like to invest in other securities than investing on bonds.
The main objective of the study is to determine the factors that influence investment on bond market and whether the independent variables that consist of safety, return, liquidity, tax planning, pricing structure, governance and investor protection and regulation are significant in determining the investment on bond market by institutional investors.
The study used structured questionnaire techniques from 80 respondents which includes various investors from Kathmandu valley. The study is based on descriptive and analytical research design. This study used quantitative method for data collection for the purpose of analysis. Mainly structured questionnaire survey was used to generate responses based on which statistical analysis is done to test hypothesis. The sampling technique for the study followed convenience sampling. For the analysis of collected data, various statistical tests such as Correlation, Anova and Regression test were conducted with the help of statistical software SPSS.
There are few limitations for this study which are this study might not include all the variables, to study the factors that influence investment on bond market, respondents are from Kathmandu valley only and majority of respondents are other investors which may provide bias representation to the result.
The major findings of this research document are: there exits positive relationship between safety, return, tax planning, governance and investor protection, regulation and investment on bond market while negative relation between liquidity and pricing structure.
Hypothesis test also inferred that there is significant relationship between governance and liquidity with investment on bond market whereas safety, return, tax planning, pricing structure and regulation did not have a significant relationship with investment on bond market.
The study shows that low liquidity and governance present in the bond market is the main reason for low investment on bond market. The market size of bond should be bigger to have more liquidity on the market and attract more investors on the market. Similarly, proper trading mechanism should be established to ensure bonds are easily traded in the market which helps to increase liquidity of the bonds. Investors do not like to invest on bonds as there is large information asymmetry present and low degree of transparency present in the market so government should ensure that information is provided on timely basis on transparent manner.

The present work addresses the problem of the "Vultures Funds" in the Sovereign Debt Restructuration. The main objective is to analyze if the creation of an institutional debt restructuration mechanism, called International Sovereign Debt Tribunal based on the substantive and adjective principles of Bankruptcy, could end with the disruptive strategy of the Vultures Funds and, at the same time, provide an order, timely, foreseeable and effective framework for restructuration. The work is
developed principally on the field of the science of law, however it contains social, economic and political analysis that are indispensable to understand the complex issues related to this topic. In order to that the following topics are analyzed; the current financial architecture: main characteristics, strengths and weaknesses; The Vultures Funds: conceptualization, strategy, origins, composition and consequences for the countries; and finally an institutional mechanism is proposed in order to end with the vulture funds in the global financial world. From our perspective, the Vulture Funds are a serious threat to fundamental Human Rights of the population, altering the burden of the debt and embezzling resources that are use in other areas of development, at the same time, their speculative behavior, with base on the abuse of right, gravely disturb the restructuration processes and turn them to be more
difficult, complex and costly. For this reason we provide in this work a mechanism to eliminate this harmful behavior from the financial world.

This book is for me who wants to become rich through investing in financial instruments and alternative assets.

The first part of the book discusses investing and the need to invest, stating that the only way to become rich or maintain the riches that I have already acquired is through investing, that is, making the assets I already have to acquire more assets for me. This part also covers the basic and fundamental principles of investing.

The second part of the book takes me through the various investment products; the markets where I can buy and ell such products and the market players, including regulators, associations and brokers.

Finally, the book also introduces the East African financial market, the available financial instruments and how to invest in them, listing the various financial institutions and their regulators, the exchanges, the member firms and the listed companies. The book then concludes by introducing a prospective investor to fundamental principles of economics and economic institutions.

The year 2021 marks the bicentennial of the beginning of the Greek Revolution against the Ottoman Empire. The Greek War of Independence was a successful war waged by Greek revolutionaries against the Ottomans between 1821 and 1830 and led to the formation of modern Greece. The revolution is celebrated by Greeks around the world as independence day on 25 March. During the uprising, Greeks had to find financial resources to support their struggle. One of the sources was the issuance of bonds.

The Nelson-Siegel-Svensson model is used for modelling the yield curve, even though many researchers have identified and reported different difficulties at the moment of calibrate the model, this is widely used by governments, Central Banks, financial institutions around the world.
In this sense, since our main purpose is to have a better understanding of the behaviour of the evolution of the yield curve based in the model proposed by Nelson-Siegel-Svensson in that way that it can allow us to know how it works, we have developed in the second section the Nelson-Siegel-Svensson model, in the third one we have described the flaws of the model like colinearity and finally in fourth one we introduce a numerical example based in real data from the chinese government bond market.

Օnly ¼ of the RA Government debt is in the Armenian dram, which poses high FX risks for debt sustainability. Improving the share of local currency debt in the public debt is a big challenge for developing countries, as they often fall into the "lazy bank" trap when the government debt substitutes private sector lending (as a result of rational profit-seeking behavior of the banks) and diminishes financial deepening. To test the viability of the "lazy bank" hypothesis for Armenia, a bank-level dataset was built, and fixed effect panel regression models were estimated, which capture the effects of investments in the RA Government bonds on bank profitability and lending. Results of the analysis confirm the hypothesis for only 3 of 17 banks in terms of better financial performance associated with investments in government bonds, and for all 17 banks in terms of distorting private sector lending. These results imply that further deepening of the domestic public debt market imposes significant risks of distorting financial development, which was one of the drivers of post-GFC economic growth in Armenia. The paper concludes that to mitigate risks for financial development, the government should prioritize further reforms aimed at financial integration and liberalization.

Chemical bond meaning the different types of force bonding together two common atoms or groups of atoms forming an aggregate of ions or molecular species such that there occurs lowering of energy. The definition of chemical bonds or bonding explain the different types of properties of the ionic bond, covalent bond, metallic bonded metal, and non-metal compound in chemistry. But there will be many examples of bonding compounds whose properties and structure indicate the bonds of intermediate types, which are called the coordinate covalent bond. The fundamental questions for study chemistry, since the beginning, the forces responsible for the formation of bonds in the chemical compound. After nearly a century of confusion, Kekul, Van't Hoff, Le Bel, Lewis, and London, etc in the nineteenth century given the definition of the chemical bonding. It was easily realized that the number of atoms or groups of atoms combines to form the ions or molecules. Thus every chemical compound has a saturation capacity for the formation of the bond. The valency commonly used for the saturation capacity of an element for forming the bonding.

Heroism consists of actions that must help others, even if it is a possibility and risk of the helper s injury or even death. Some people consider heroism to be very close to altruism, but it is different. Where altruism emphasizes self-denying acts that help others, heroism means a personal sacrifice. The kernel of heroism rotates around of the obligation of the person to a noble goal and readiness to accept a consequence of fighting for this goal. Heroism is old as humanity itself. The human bent fort commemorating heroes is a universal quality of human culture. Heroes are honored in ancient paintings, folklore and myth. Societies dispatched such stories in oral traditions and legends, and myths into epic poems and eddas. Modern societies uphold the tradition of honoring heroes not only in literally masterpieces but also in movies and journalism. Some of heroic ideas are becoming lost or changed by general culture. Being a hero is not just being an outstanding figure. We believe it has become needful to revise the historical senses of the word, and to force it to arrive in modern timeframes. Historically, heroism has been closely connected with military service, although social heroism also deserves close research. For instance, Achilles is the archetypal war hero, whose values were so strong, that Socrates willingness to die for it was also a heroic exploit. Heroism that consist a notable idea is usually not so dramatic like heroism that entails direct physical risk. These different ways of exhorting with the heroic ideal mean a deeper, more tangled definition of heroism. Actions considered as heroic are ordinarily made voluntarily in the sense that they are not compelled by external pressures or at least go out the bounds of the behavior ordinarily prompted by external pressures. By understanding of heroism as a universal characteristic of human nature, not as an unusual feature, heroism becomes something that stands in the line of possibilities for everyone, possibly inspiring us to answer that call. The thought about the banality of heroism disrobes the myth of the heroic elect. It is a myth that strengthens two fundamental human tendencies: to attribute very rare personal feature to special people who do special feats-to see them as superhuman, comparing to the rest of us and the trap of inertial some people call it as the bystander effect. Investigation has shown that this effect is often motivated by scattering of responsibility. In their article The Banality of Heroism , Zeno Franco and Philip Zimbardo tell that heroism is made up of four autonomous measurements at least (based on authors analysis of many acts that they consider heroic). First, heroism involves some type of quest, which may range from the preservation of life to the preservation of an ideal (Franco, Zimbardo). Second, heroism should have some form of sacrifice (risk). This can be some form of physical danger or a strong social sacrifice. The physical risks in this case are clearly heroic in nature. For instance, Tom Cahill, a researcher from the University of California, called a press conference where defined the EPA s findings that in the after-grass of the September 11 events the air nearby Ground Zero was safe for breathing. With this action he risked his confidence as a scientist. Third, the heroic feat may be active or passive. Often we think of heroism as a courageous activity, something that is clearly perceptible. But some forms of heroism involve passive opposition or reluctance to be moved. And finally, heroism may be an unexpected, one time action, or something that continues over a longer time period. This may have a meaning that heroism may be a nearly immediate reaction to a situation. Or it may be a well considered series of actions endure over days, months, ANGELINO

Głównym celem artykułu jest analiza działań polskiego rządu w zakresie emisji zielonych obligacji. Autorzy na podstawie badań z wykorzystaniem badań jakościowych (analiza danych zastanych, wywiad) podjęli próbę wskazania podstawowych celów i rezultatów działań sprzyjających ochronie środowiska oraz wskazania możliwości rozwoju instrumentów finansowych w obszarze zielonych finansów
= The main aim of the article is to analyse the activities of the Polish government in the field of issuing green bonds. The authors attempted, on the basis of qualitative research (research desk, interview), to indicate the basic objectives and results of activities conducive to environmental protection, as well as to indicate the possibilities of developing financial instruments in the area of green finance.