{"id":26485,"date":"2018-03-09T09:18:19","date_gmt":"2018-03-09T09:18:19","guid":{"rendered":"https:\/\/www.deberes.net\/tesis\/sin-categoria\/strategic-behaviour-in-financial-markets\/"},"modified":"2018-03-09T09:18:19","modified_gmt":"2018-03-09T09:18:19","slug":"strategic-behaviour-in-financial-markets","status":"publish","type":"post","link":"https:\/\/www.deberes.net\/tesis\/sin-categoria\/strategic-behaviour-in-financial-markets\/","title":{"rendered":"Strategic behaviour in financial markets"},"content":{"rendered":"<h2>Tesis doctoral de <strong> Ariadna Dumitrescu Gabriela <\/strong><\/h2>\n<p>Un mercado implica, de manera general, un conjunto de interacciones relativamente complejas entre agentes a lo largo del tiempo. Muchos aspectos econ\u00f3micos implican una interacci\u00f3n estrat\u00e9gica: subastas, campa\u00f1as de i+d o negociaciones econ\u00f3micas, y nada parece indicar que los mercados financieros sean una excepci\u00f3n a la regla. En consecuencia, recientes investigaciones en el campo de las finanzas intentan integrar el comportamiento estrat\u00e9gico de los agentes en los modelos existentes. Dos importantes l\u00edneas de investigaci\u00f3n en las que la incidencia del comportamiento estrat\u00e9gico ha sido ampliamente explotado son la valoraci\u00f3n de la deuda de la empresa y la microestructura del mercado.  en el segundo cap\u00edtulo se desarrolla un modelo de valoraci\u00f3n para bonos de cup\u00f3n cero. Con el objetivo de destacar el papel del vencimiento y de la colocaci\u00f3n de la demanda del prestatario en la jerarqu\u00eda de la deuda de una empresa, tomaremos el caso de una empresa que emita dos bonos con vencimiento y prioridad distintos. Este modelo nos permite analizar las implicaciones, tanto de la regeneraci\u00f3n de la deuda como de la estructura del capital de la empresa en el precio de los bonos. Varemos que la renegaci\u00f3n conlleva un cambio significativo en el precio de los bonos y que su efecto se dispersa a trav\u00e9s de varios canales: incrementando el valor de la empresa, reasignando pagos y evitando liquidaciones costosas. Asimismo, la presencia de dos acreedores tiene implicaciones cualitativamente diferentes en recio, y a la vez pone \u00e9nfasis en la importancia de los contratos de bonos y la renegociaci\u00f3n de la totalidad de la deuda.  en el tercer cap\u00edtulo se desarrolla el modelo de tr\u00e1fico de informaci\u00f3n privilegiada en el que los agentes tienen informaci\u00f3n privada sobre el valor de liquidaci\u00f3n o sobre la oferta y act\u00faan de modo estrat\u00e9gico para maximizar sus beneficios. El operador de ofertas informado tienen un doble papel en la creaci<\/p>\n<p>&nbsp;<\/p>\n<h3>Datos acad\u00e9micos de la tesis doctoral \u00ab<strong>Strategic behaviour in financial markets<\/strong>\u00ab<\/h3>\n<ul>\n<li><strong>T\u00edtulo de la tesis:<\/strong>\u00a0 Strategic behaviour in financial markets <\/li>\n<li><strong>Autor:<\/strong>\u00a0 Ariadna Dumitrescu Gabriela <\/li>\n<li><strong>Universidad:<\/strong>\u00a0 Aut\u00f3noma de barcelona<\/li>\n<li><strong>Fecha de lectura de la tesis:<\/strong>\u00a0 24\/10\/2003<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Direcci\u00f3n y tribunal<\/h3>\n<ul>\n<li><strong>Director de la tesis<\/strong>\n<ul>\n<li>Jordi Caballe Vilella<\/li>\n<\/ul>\n<\/li>\n<li><strong>Tribunal<\/strong>\n<ul>\n<li>Presidente del tribunal: david P\u00e9rez castrillo <\/li>\n<li>carmen Ansotegui olcoz (vocal)<\/li>\n<li>carolina Manzano tovar (vocal)<\/li>\n<li>Jos\u00e9 Penalva zuasti (vocal)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesis doctoral de Ariadna Dumitrescu Gabriela Un mercado implica, de manera general, un conjunto de interacciones relativamente complejas entre agentes [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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