Analysis of Financial Indicators of Bond Issues of a Holding Company
https://doi.org/10.30932/1992-3252-2019-17-1-116-127
Abstract
JSC Russian Railways occupies a leading position on the Russian market of transport bonds. Since 2010, it has issued Eurobonds. International projects require a large amount of resources in foreign currency. The issuance of bonds is fraught with serious risks, which are particularly currency risk, risk of non-placement, interest risk, reputation risk. It is important for an investor to understand the scope of risks when making investments in Russian Railways bonds. The use of non-standard methods of financial mathematics allows to estimate the risk of issued bonds in terms of their redemption. In order to make the right decision regarding investment, investors are encouraged to focus on indicators such as duration and its relation to the full term of the bonds.
About the Authors
L. F. Kochneva
Russian University of Transport
Russian Federation
Russian Federation
Kochneva, Lyudmila F. - Ph.D. (Eng), associate professor, head of the department of Mathematics.
Moscow
M. A. Yakovleva
Russian University of Transport
Russian Federation
Russian Federation
Yakovleva, Marina A. - Ph.D. (Economics), associate professor, head of the department of Economic theory and world economy.
Moscow
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Review
For citations:
Kochneva L.F., Yakovleva M.A. Analysis of Financial Indicators of Bond Issues of a Holding Company. World of Transport and Transportation. 2019;17(1):116-127. https://doi.org/10.30932/1992-3252-2019-17-1-116-127
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