Pricing Asset-backed Securities: A Revised Model

This paper deals with asset backed securities and the pricing thereof. First, an overview of debt markets is provided with a particular focus on the recent crisis in the sub prime markets. Second, literature surrounding securitization, asset backed securities and related types of debt is analysed and discussed. A revised pricing model for asset backed securities based on two existing models (Ebrahim, 2000; Ebrahim & Ahmed, 2007) is successively developed and implemented in Maple programming language. This model assumes access to symmetric information and provides optimum pricing for securities backed by a deprecating asset while collateralising the loan with the underlying asset and the income of the borrower. Finally, a sensitivity analysis is performed on the model, the results are analysed and conclusions drawn. Further extensions to the model are suggested

Pricing Asset-backed Securities: A Revised Model

This paper deals with asset backed securities and the pricing thereof. First, an overview of debt markets is provided with a particular focus on the recent crisis in the sub prime markets. Second, literature surrounding securitization, asset backed securities and related types of debt is analysed and discussed. A revised pricing model for asset backed securities based on two existing models (Ebrahim, 2000; Ebrahim & Ahmed, 2007) is successively developed and implemented in Maple programming language. This model assumes access to symmetric information and provides optimum pricing for securities backed by a deprecating asset while collateralising the loan with the underlying asset and the income of the borrower. Finally, a sensitivity analysis is performed on the model, the results are analysed and conclusions drawn. Further extensions to the model are suggested

Företagsbaserade Sociala Nätverk inom Finansbranchen : Ett verktyg för att förbättra samhörigheten och kunskapsspridningen

This study has been conducted with Sirius International as a case company. The investigation has revolved around the weaknesses Sirius, along with the authors, have identified concerning the international collaboration and communication. It was later shown that these problems were based on a low sense of unity in the organization as a result of the lack of knowledge sharing, knowledge management, and spread of organization related information. It was decided to evaluate whether a corporate social network (CSN) could assist in these problems and if so, decide what system would be the most appropriate in regards to the internal needs and requirements at Sirius. The major challenges brought on with an implementation of a CSN, and how to face these, were investigated as a part of the evaluation whether a CSN would be appropriate for Sirius or not. The study showed that a CSN was an appropriate choice for Sirius in order to improve the international communication, collaboration, and unity. The most suitable choice was determined to be Yammer, as it best suited the internal requirements and needs. Along with these results, the largest challenge with an implementation and future use of the system was user acceptance and overall usage of the system. If the CSN is not used, none of the visions, goals, or purposes will be fulfilled.Denna studie har gjorts med Sirius International som case-företag. Undersökningen har kretsat kring svagheterna som Sirius, tillsammans med författarna har identifierat kring det internationella samarbetet och kommunikationen. Det visade sig senare att dessa problem var grundade i en låg känsla av samhörighet i organisationen och att detta var ett resultat av den låga nivån av kunskapsspridning, kunskapshantering och spridning av organisationsrelaterad information. Beslutet togs att undersöka huruvida ett företags-baserat socialt nätverk kunde hjälpa vid dessa problem och, om fallet var sådant, komma fram till vilket socialt nätverk som skulle vara mest lämpat vid avseende på de interna behoven och kraven från Sirius. Vid undersökningen om huruvida ett socialt nätverk var lämpligt för Sirius gjordes också en undersökning för att identifiera de största utmaningarna med en implementation av ett socialt nätverk och hur dessa skall bemötas och övervinnas. Studien visade att ett företagsbaserat socialt nätverk var ett lämpligt val för att överkomma problemen i Sirius och förbättra den internationella kommunikationen, samarbetet och samhörigheten. Det lämpligaste sociala nätverket för Sirius blev Yammer som bäst täckte de interna behoven och kraven hos Sirius. Tillsammans med dessa resultat visade undersökningen att den största utmaningen med en implementation och framtida nyttjande av systemet var användaracceptans och generell användning av systemet. Om ett socialt nätverk inte används så kan inga av visionerna, målen eller syftena med systemet infrias

Contribution of the National Institute for Nuclear, Chemical and Biological Protection to the Development of Methods and Procedures Related to Safety Engineering

The paper describes the National Institute for Nuclear, Chemical and Biological Protection involvements with regards to the development of methods and procedures related to Safety Engineering. It provides general information about the Institute's activities, history, presence and objectives for the near future to illustrate its role, tasks and responsibilities. The Institute's added values that consist in its share to the reduction of safety risks and incident consequences are presented and discussed in details

Also the 4th Dimension of the Town - Its Underground Structures - Has Its Risks

The article is devoted to risk assessment of underground structures from the point of view of their existence, operation and human failure (of users and/or operators). Two likely instances of their abuse for disseminating poisonous substances in an urban agglomeration are described. Both possibilities have been scrutinized using either physical simulation or an in-situ experiment. The distribution of agent depending on chosen parameters (agent's imitation, meteorological conditions, etc.) was verified on Prague's Old Town Square model in an aerodynamic tunnel. The in situ experiment with surrogates was performed at underground subway changing station. The parameters, results of the experiments and conclusions are discussed in detail

Problematic issues of normative regulation of the rights of superficies.

Ar 2017.gada 1.janvāri Latvijā ir ieviesta apbūves tiesība. Ieviešanas mērķis ir risināt problemātiku, kas saistīta ar dalītā īpašuma pastāvēšanu. Maģistra darba mērķis ir pētīt apbūves tiesības tiesiskā regulējuma problemātiku. Darbā tiek apskatīts Vācijas, Šveices, Igaunijas regulējums, tas salīdzināts ar Latvijā ieviesto, kā arī aplūkota Igaunijas pieredze un tiesību zinātnieku viedokļi. Apbūves tiesības institūts ieviests modificētā veidā, jo apbūves tiesība neattiecas uz dzīvojamo apbūvi, kā tas ir noregulēts citās valstīs un bija romiešu tiesībās. Apbūves tiesības regulējums nav izsmeļošs, un pusēm saskaņā ar privātās autonomijas principu ir tiesības pašiem piepildīt līguma saturu. Tas savukārt var radīt strīdus situācijas, jo Latvijā apbūves tiesības institūts ir jauns, un var būt nepilnīga izpratne par to un sekām nākotnē.In January 2017 the law on right of superficies was implemented in Latvia. The objective of implementation such law was to solve issues related to existence of split property. The present thesis analyzes German, Swiss, Estonian regulation and compares them with Latvian introduced. In addition, examination of Estonian experience and legal scholar’s views on right of superficies are included in present thesis. In Latvia the institute of superficies is implemented in a modified form as superficies does not apply to residential buildings as in other countries and Roman law. The law on right of superficies is not exhaustive and regarding to the principle of private autonomy, parties themselves has the right to lay down the content of the contract which could cause disputes as the institute of right of superficies is novel in Latvian law – still there is incomplete comprehension of it and its effects in future