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Bonos estructurados vendidos en España en los últimos años

Author

Listed:
  • Fernandez, Pablo

    (IESE Business School)

  • Aguirreamalloa, Javier

    (IESE Business School)

Abstract

Este documento analiza 13 tipos de bonos estructurados y 2 tipos de participaciones preferentes. El objetivo es mostrar el funcionamiento de los mismos, y analizar la rentabilidad esperada para los inversores, para los emisores y para las instituciones mediadoras. Se muestra que este tipo de productos (compuestos por un bono y una o más opciones) se han vendido en los últimos 25 años en España a muchos inversores minoristas con distintas denominaciones (bonos bolsa, bono directo, bonos estructurados, bonos protegidos, bonos participativos, Estructurado Banca Europea, bonos convertibles…) y por variados emisores. Se muestra que en el periodo 1984-1996 las empresas españolas realizaron 290 emisiones de bonos convertibles en acciones por un importe de €12.987 millones. Gran parte de estas emisiones fueron suscritas por inversores particulares y familias.

Suggested Citation

  • Fernandez, Pablo & Aguirreamalloa, Javier, 2012. "Bonos estructurados vendidos en España en los últimos años," IESE Research Papers D/951, IESE Business School.
    • Handle: RePEc:ebg:iesewp:d-0951
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    File URL: http://www.iese.edu/research/pdfs/DI-0951.pdf
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    More about this item

    Keywords

    bono estructurado; emisor; intermediario; participación preferente; Euro Stoxx;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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