Browsing Faculty of Natural and Agricultural Sciences by Author "10061231 - Styger, Paul"
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Adapting the Macaulay duration for defaultable and option-embedded bonds
Styger, Paul; Van Vuuren, Gary (Faculty of Economic and Management Sciences, University of Pretoria., 2008)Most contemporary bonds have embedded options and all face the possibility of default. Both features introduce risk (the former market risk and the latter credit risk) by altering the quantity and timing of the promised ... -
Review of subnational credit rating methodologies and the applicability in the South African context
Fourie, E.; Styger, P.; De la Rey, T.; Van Vuuren, G. (Taylor & Francis / Unisa Press, 2013)A credit rating is a prerequisite to enter financial markets. While most sovereigns have assigned credit ratings, many subnational governments (i.e. states, provinces or counties) do not, despite the considerable benefits ...