Reactions to the EDHEC Study “Optimal Design of Corporate Market Debt Programmes in the Presence of Interest-Rate and Inflation Risks”

Noël Amenc, Felix Goltz, Vincent Milhau & Masayochi Mukai

Author(s) :

NoelAmenc

Professor of Finance and Director of EDHEC-Risk Institute.

FelixGoltz

Head of applied research at EDHEC-Risk Institute.

Vincent Milhau

Deputy Scientific Director at EDHEC-Risk Institue

Masayochi Mukai

Analyst at EDHEC-Risk Indices and Benchmarks.

Presentation :

EDHEC-Risk Institute has conducted extensive research into advanced debt management practices, including a study on the possibility of increasing firm value through the issuance of an optimal level of inflation-linked bonds, which would allow for a reduction in the variability of cash flows, net of debt costs. Supplementing the research documented in the EDHEC-Risk publication “Optimal Design of Corporate Market Debt Programmes in the Presence of Interest-Rate and Inflation Risks”, a call for reaction was issued seeking assessment of the study’s key conclusions. A bifurcated survey, with two separate sets of questionnaires, was issued to institutional investors and members of corporate finance departments – the two parties most qualified to provide professional insight. The results indicate that the topic is perceived as highly relevant to current investor concerns and issuers of corporate debt; moreover, they suggest that the issuance of inflationlinked bonds may provide a solution to both parties’ exposure to inflation risk.
Pdf
Reactions to the EDHEC Study “Optimal Design of Corporate Market Debt Programm...
(1.63 MB)
Type : Publication EDHEC
Date : le 28/05/2012
Extra information : For more information, please contact EDHEC Research and Development Department [ research@drd.edhec.edu ]
Research Cluster : Finance

See Also

OTHERWISE#4 is online !
- 23-03-2017
One of EDHEC’s hallmarks is “being where it is not expected to be” and OTHERWISE...
Support the new generation of students
- 20-03-2017
Support the new generation of students Act for EDHEC! Many Alumni in the UK have...
Emmanuel Metais named new Dean of EDHEC Business School
- 17-03-2017
EDHEC Business School is pleased to announce Emmanuel Métais’s appointment as the new...
MSc in Data Analytics & Digital Business: a new master designed to bridge the gap between data specialists and decision makers
- 13-03-2017
EDHEC Business School is pleased to announce the launch of a new MSc in Data Analytics...