Добірка наукової літератури з теми "Conventional Bond Market"
Оформте джерело за APA, MLA, Chicago, Harvard та іншими стилями
Ознайомтеся зі списками актуальних статей, книг, дисертацій, тез та інших наукових джерел на тему "Conventional Bond Market".
Біля кожної праці в переліку літератури доступна кнопка «Додати до бібліографії». Скористайтеся нею – і ми автоматично оформимо бібліографічне посилання на обрану працю в потрібному вам стилі цитування: APA, MLA, «Гарвард», «Чикаго», «Ванкувер» тощо.
Також ви можете завантажити повний текст наукової публікації у форматі «.pdf» та прочитати онлайн анотацію до роботи, якщо відповідні параметри наявні в метаданих.
Статті в журналах з теми "Conventional Bond Market":
1
Balcilar, Mehmet, Gozde Cerci, and Riza Demirer. "Is there a role for Islamic bonds in global diversification strategies?" Managerial Finance 42, no. 7 (July 11, 2016): 656–79. http://dx.doi.org/10.1108/mf-07-2015-0189.
Анотація:
Purpose – The purpose of this paper is to examine the international diversification benefits of Islamic bonds (Sukuk) for equity investors in conventional stock markets. The authors compare the diversification benefits of these securities with their conventional alternatives from advanced and emerging markets. Compared to conventional bonds, Sukuk are backed by tangible assets and carry both bond and stock-like features. Furthermore, the Sharia-based limitations limit the risk in these securities as a result of ethical investing rules. The regime-based model provides insight to possible segmentation (or integration) of these securities from global markets during different market states. Design/methodology/approach – Risk spillover effects across conventional and Islamic stock and bond markets are examined using a Markov regime-switching GARCH model with dynamic conditional correlations (MS-DCC-GARCH). Weekly return series for conventional (advanced and emerging) and Islamic stock and bond indices are examined within a regime-dependent specification that takes into account low, high, and extreme volatility states. The DCC are then used to establish alternative diversified portfolios formed by supplementing conventional and Islamic equities with conventional and Islamic bonds one at a time. Findings – Asymmetric shocks are observed from conventional stocks and bonds into Islamic bonds (Sukuk). Compared to emerging market bonds, Sukuk are found to display a different pattern in the transmission of global market shocks. The analysis of dynamic correlations suggests a low degree of association between Islamic bonds and global stock markets with episodes of negative correlations observed, particularly during market crisis periods. Portfolio performance analysis suggests that Islamic bonds provide valuable diversification benefits that are not possible to obtain from conventional bonds. Originality/value – This study provides comprehensive analysis of volatility interactions and dynamic correlations across Islamic and conventional markets within a regime-based framework and provides insight to whether these securities could serve as safe havens or diversifiers for global investors. The findings have significant implications for global diversification strategies, particularly during market crisis periods.
2
Ariff, M., A. Chazi, M. Safari, and A. Zarei. "Significant Difference in the Yields of Sukuk Bonds versus Conventional Bonds." Journal of Emerging Market Finance 16, no. 2 (July 25, 2017): 115–35. http://dx.doi.org/10.1177/0972652717712352.
Анотація:
Bond yields of Treasury and corporate bonds are observed in a listed exchange. This article reports the findings on the market yield behaviour of two types of debt securities in the same exchange, the sharia-compliant sukuk bonds and the normal conventional bonds. There are 17 exchanges where sukuk bonds are traded, and the outstanding value is estimated at US$ 1,200 billion. The average yields of sukuk Treasury bonds are significantly higher (premium) than that of conventional Treasury bonds. On the other hand, investors in the sukuk corporate bonds receive slightly lower returns (discount) of about 25 basis points in the case of long-term sukuk bonds. To the best of our knowledge, this is the first study to verify these differences using appropriate advanced econometric methods. These results have far-reaching implications for the market practices as well as for teaching of bond pricing behaviour since this new form of debt markets is growing at about 17 per cent a year. JEL Classification: F23, F31, G12
3
Bhuiyan, Rubaiyat Ahsan, Maya Puspa, Buerhan Saiti, and Gairuzazmi Mat Ghani. "Comparative analysis between global sukuk and bond indices: value-at-risk approach." Journal of Islamic Accounting and Business Research 11, no. 6 (January 10, 2020): 1245–56. http://dx.doi.org/10.1108/jiabr-02-2018-0019.
Анотація:
Purpose Sukuk is an innovative financial instrument with a flexible structure based on Islamic financial contracts, unlike a bond which is based on the structure of a loan imposed with interest. With the notion that sukuk differs considerably from the conventional bonds in terms of risks related to investment, this study aims to examine whether the sukuk market is different from conventional bond markets based on the value-at-risk (VaR) approach. Design/methodology/approach The VaR of a portfolio consists of sukuk and bond indices and is undertaken to determine whether there is any reduction in the VaR amount through the inclusion of the sukuk index in the portfolio. The analysis is undertaken based on the developed and emerging market bond and sukuk indices from January 2010 to December 2015. Findings This paper examines whether the VaR of sukuk market differs from conventional bond markets by using fundamental techniques. It was observed that the VaR amount of sukuk indices is comparatively much lower than the VaR of bond indices in all the cases. Including the sukuk index with each bond index can reduce the VaR of the portfolio by around 30 to 50 per cent for all the developed and emerging market bond indices. Research limitations/implications This research is limited to covering six years of data. Nonetheless, it is able to provide findings which are believed to be useful for the market players. Practical implications This study unveils attractive opportunities in terms of diversification benefits of sukuk indices for international fixed-income portfolios. Originality/value The VaR method is a useful risk management tool. This study uses this method to emphasise the significant reduction of risks and diversification benefits that sukuk investment could offer by including it in the investment portfolio.
4
Nienhaus, Volker, and Abdullah Karatas. "Market perceptions of liquid sovereign Sukūk: a new asset class?" International Journal of Islamic and Middle Eastern Finance and Management 9, no. 1 (April 18, 2016): 87–108. http://dx.doi.org/10.1108/imefm-03-2015-0027.
Анотація:
Purpose This paper aims to explore whether the market perceives liquid international sovereign sukūk as distinct from comparable bonds and as an asset class of their own that could shield investors against turbulences in the bond markets. Design/methodology/approach If sukūk and bonds belong to the same asset class, then basically the same supply and demand factors determine inverstors’ activities in both markets. This should lead to matching patterns of yield curves for sukūk and bonds comparable in terms of issuers, maturity, currency, size, liquidity and rating. Only a rough analysis of holding and trading patterns of conventional and Islamic sukūk investors was possible, as most sukūk market transactions are “over-the-counter” and not registered in the Bloomberg database. However, price information could be used for an analysis of yield curves of liquid sovereign sukūk and comparable bonds. Findings Conventional investors participate in the sukūk market, but their influence on prices is rather small, as they act primarily as intermediaries (i.e. market makers) as opposed to price setters. The yield curves of the selected bonds and sukūk widely match. This suggests that bonds and liquid sovereign sukūk belong to the same asset class. Furthermore, as turbulences in conventional markets are also reflected in the sukūk markets, Islamic investors themselves play a role in the transmission. Research limitations/implications The study of holding patterns and of the market perception of sovereign sukūk and bonds required a focus on four countries with deep and (potentially) liquid sukūk markets (Malaysia, Turkey, Indonesia and Hong Kong) and US$-denominated international securities. Some suitable combinations of sukūk and bonds are relatively young issuances with time series data for two to three years only. Data on holding patterns are sketchy and require interpretations based on market knowledge. Practical implications Parallel yield curves indicate that conventional investors do not perceive international sovereign sukūk as an asset class of their own distinct from conventional government bonds. This market perception of liquid international sovereign sukūk could have an impact on other types of sukūk (e.g. on international corporate sukūk) if sovereign sukūk are taken as pricing and performance benchmarks. Originality/value The paper sheds light on institutional investor behavior in the bond and sukūk markets and outlines data availability issues that constrain quantitative analyses in over-the-counter markets.
5
Sutikno, Franciska Mifanyira. "Legal Protection of Conventional Bank as Mandatory Convertible Bond Holder." Syariah: Jurnal Hukum dan Pemikiran 19, no. 2 (November 27, 2019): 184. http://dx.doi.org/10.18592/sjhp.v19i2.3129.
Анотація:
Bank as legal entity has legal right to do Investment to the another party by several investment instrument in Stock Market, Money Market or another agreement. Mandatory Convertible Bond is one of Investment Instrument which has hybird characteristic of Debt and Equity based on the Central Bank Regulatio and International Mandatory Convertible Bond concept leads to the double legal standing to the Bank as the holder. The Objective of this research is to analyze the usage of Mandatory Convertible Bonds and the protection of Bank as its holder. The result of the research are Mandatory Convertible Bond used as equity participation through debt mechanism and the protection of Bank provided by Prospectus and Trust Agreement.
6
Fatima Farooq, Muhammad Saeed Meo, Sajid Ali, and Usman Rasheed. "Co-movement between Sukuk, Conventional Bond and Islamic Stock Markets under Bullish and Bearish Market Conditions: An Application of Quantile-on-Quantile Regression." Journal of Accounting and Finance in Emerging Economies 6, no. 3 (September 30, 2020): 839–56. http://dx.doi.org/10.26710/jafee.v6i3.1390.
Анотація:
This study explores the asymmetric co-movement between conventional bonds market, sukuk market and Islamic stock markets of top ten Islamic economies. The study used daily data ranging from 1st January 2008 to 31st December 2019. However, for the dependency structure, we used Quantile-on-Quantile (QQ) method, which captures the dependence between the entire distributions of financial assets and uncovers some nuance features of the relationship. The empirical findings show that under the stress condition (bearish condition), both bonds and stocks markets negatively commove. However, in the bullish market condition, these markets show week positive correlation/ co-movement in all the sample economies. The findings also confirmed that under the bearish condition, a mild negative correlation exists between sukuk and Islamic stock markets except for Malaysia. However, in the bullish market condition, sukuk markets and stock markets show strong positive correlation in all sample economies. Furthermore, study also enriches quantiles estimation by using quantiles granger causality approach. The findings show that the conventional bond market, sukuk market and Islamic stock market granger cause to each other on all the quantiles (in bullish or bearish market conditions).
7
Emets, M. I. "Modeling the green bond yield on bond offering." Finance and Credit 26, no. 12 (December 25, 2020): 2858–78. http://dx.doi.org/10.24891/fc.26.12.2858.
Анотація:
Subject. The article addresses the green bond pricing as compared to bonds other than green ones. Objectives. The aims are to determine how the fact that a bond is identified as a green one, the issue amount, and the availability of third-party verification, influence the yield to maturity; to make recommendations on effective green bond pricing. Methods. The study employs econometric testing of hypotheses, using the multiple linear regression. The sample includes 318 green and 1695 conventional bonds. Results. Green bonds have a lower yield to maturity in comparison with conventional bonds. The yield to maturity of green bonds with third-party verification is lower, as contrasted with green bonds without verification. Conclusions. The next step in the green bond market development is creating a benchmark yield curve for sovereign green bonds, with parallel issuance of conventional, non-green bonds. The yield curve is crucial for effective bond pricing. Two yield curves, i.e. for green and non-green bonds, will enable investors to estimate the fair price on issuance, as well as to define, if there is a difference in pricing.
8
Ghaemi Asl, Mahdi, and Muhammad Mahdi Rashidi. "Dynamic diversification benefits of Sukuk and conventional bonds for the financial performance of MENA region companies: empirical evidence from COVID-19 pandemic period." Journal of Islamic Accounting and Business Research 12, no. 7 (August 4, 2021): 979–99. http://dx.doi.org/10.1108/jiabr-09-2020-0306.
Анотація:
Purpose This study aims to investigate the spillover between the Middle East and North Africa (MENA) stock index and several security indices, including Sukuk and conventional bond, and ultimately compare the hedge effectiveness of Sukuk and conventional bond. Design/methodology/approach The study uses VAR (1)-asymmetric Baba, Engle, Kraft and Kroner-multivariate generalized autoregressive conditional heteroskedasticity (1,1) model to analyze the volatility and shock and asymmetric shock spillover between Sukuk index and several bond indices in the MENA region including, Bond, All Bond, High Yield Bond and Bond and Sukuk and MENA stock market index and ultimately compare the hedging capabilities of Sukuk and conventional bonds by calculating the optimal portfolio weights for securities indices and stock portfolios and hedge effectiveness of security indices. Findings Results indicate that there is no shock, volatility and asymmetric shock spillover between the Sukuk index and MENA stock index, implying that Sukuk indices behave independently from MENA stock indices; however, there is shock and asymmetric shock spillover between MENA stock indices and security indices that include conventional bonds. The result of optimal portfolio weights and corresponding hedge effectiveness indicate that Sukuk is the most significant asset among other security indices in diversifying and hedging stock MENA portfolios. Moreover, the hedge effectiveness of Sukuk shows persistent trends during both the normal and crisis periods. Practical implications The study suggests that MENA stock market investors and investment managers should add Sukuk instead of the conventional bond to their portfolio to hedge their portfolio against investment risks during both normal and crisis periods. Originality/value Although many studies compare many aspects of Sukuk and conventional bonds, this is the first study that compares the hedge effectiveness of Sukuk and conventional bond based on the time-varying optimal portfolio weights strategy.
9
Lebelle, Martin, Souad Lajili Jarjir, and Syrine Sassi. "Corporate Green Bond Issuances: An International Evidence." Journal of Risk and Financial Management 13, no. 2 (February 4, 2020): 25. http://dx.doi.org/10.3390/jrfm13020025.
Анотація:
Using an international sample of corporate Green bond issuances over the recent period, this paper highlights the potential consequences of the issuance of a Green bond on the issuer’s financial performance. Starting with a first sample of 2079 Green bond issuances of 190 unique issuers from 2009 to 2018, we investigate only corporate green bond issuances. Our final sample contains 475 green bonds issued by 145 unique firms. We find that the market reacts negatively to the announcement of green bond issuances. In particular, results show that the stock market reacts on the day of the green bond announcement date and the day after, and that the cumulative abnormal return is between −0.5% and −0.2%, depending on the asset pricing model (CAPM, the 3-factor Fama and French models, and the 4-factor Carhart models). This effect is mainly noticeable at the first Green Bond issuance and in developed markets. Our results provide evidence that the investors react in the same manner for Green bonds as for conventional or convertible bonds. This evidence suggests that green debt offerings convey unfavorable information about the issuing firms.
10
Sherif, Mohamed, and Cennet Tuba Erkol. "Sukuk and conventional bonds: shareholder wealth perspective." Journal of Islamic Accounting and Business Research 8, no. 4 (September 4, 2017): 347–74. http://dx.doi.org/10.1108/jiabr-09-2016-0105.
Анотація:
Purpose This study aims to comprehensively examine the stock market effects of announcements by firms to issue conventional bonds versus Sukuk. In addition, the authors investigate whether the choice of instrument depends on the tax status and government backing of the issuing firm. They split the sample into whole (2000-2015), pre-crisis (2000-2007) and post-crisis (2010-2015) subsamples. Design/methodology/approach The authors use event study methodology, market model and FTSE Bursa Malaysia EMAS index on 14 different event windows of which five are symmetric and nine are asymmetric. Further, parametric and distribution-free tests are used to investigate the difference of cumulative abnormal returns when using the two instruments (Sukuk and conventional bonds). For the choice of issuing conventional bonds or Sukuk, Heckman procedure is employed to control for the self-selection of the announcement effects. Findings The analysis indicates only insignificant difference in reaction to Sukuk and conventional bond issuances for the overall period and pre-crisis period. However, and importantly, they find strong evidence supporting the Malaysian stock abnormal return reaction to Sukuk compared to conventional bond issuances after the global financial crisis. Interestingly, they find that tax incentives and government backing are significant determinants in issuing Sukuk over conventional bonds. Such evidence is confirmed when using a wide range of robustness checks including four different market indices and both parametric and non-parametric tests. Research limitations/implications The empirical analysis is subject to limitations. First, the sample is limited to Sukuk issues domiciled in Malaysia. Second, given that Sukuk are collateralized whereas conventional bonds are not, it would only seem logical for the former to be issued by riskier firms whereas the latter would be issued by stronger firms with stable cash flows. The future research can explore this issue some more. Finally, comparing Sukuk with other similar ethical sources of traded capital may provide insights into the globalization of such economic, trade and financial reforms in and outside Malaysia. Originality/value To the author’s knowledge, no research has been conducted studying the differential and conflicting results to announcement of Sukuk issuance in the literature, nor the stock market effects of announcements to issue Sukuk over the pre-crisis (2000-2007) and post-crisis (2010-2015) periods. Thus, the study attempts to assess previous findings and contribute additional evidence that investigates the issue in rich setting.
Дисертації з теми "Conventional Bond Market":
1
Sönnerhed, Alexander, and Sebastian Berg. "Green Bonds vs Conventional Bonds : Market efficiency test on green bond funds vs conventional bond funds when faced with external shocks causing stress." Thesis, Jönköping University, IHH, Företagsekonomi, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-52622.
Анотація:
This thesis investigates the effects of environmental and economic disasters on green bond funds and conventional bond funds during the years 2016-2020. The research emphasizes how a saver could act when comparing green bond funds and conventional bond funds for investing purposes. Based on previous research, there are indications that green bonds and conventional bonds differ in pricing despite having the same economic quality. This research investigates bond funds rather than singular bonds. The tests in this study are quantitative based on hypothetico-deductive approach. Based on hypothesis testing through the Mann-Whitney-U test, green bond funds and conventional bond funds act similarly during events of stress, and there is no statistically significant evidence which proves that investing solely in either of the two groups is better than the other. In accordance to the Efficient Market Hypothesis, this thesis suggests that the bond funds act similarly because in essence they are the same financial instrument and act according to their ratings and qualities. From a saver’s perspective, it is therefore better to look at the quality and rating of a fund rather than what category of fund it is.
2
Karimi, Niousha, and Isac Lago. "Green Bond’s co-movement with the treasury bond, corporate bond, stock, and carbon markets during an economic recession." Thesis, Jönköping University, IHH, Företagsekonomi, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-52683.
Анотація:
Background: With the tremendous growth of the Green Bond (GB) market, understanding the relationship of the GB market with other financial markets gains importance. The Covid19 pandemic causing a recession in most major economies creates an opportunity to see the co-movements of the GB market with other financial markets under a period of economic crisis. Purpose: This study aims to use the economic contraction catalyzed by the 2020’s Covid-19 pandemic as a means to investigate the co-movements between the GB and the treasury bond, corporate bond, stock, and carbon markets during an economic recession. Through this, we intend to find if co-movements of the GB market have changed, and if so, how. Method: As the collected data is time-series data, Augmented Dickey-Fuller and Ljung-Box tests are utilized for preliminary testing. Thereafter, a univariate-GARCH model is used for volatility modeling. Moreover, the DCC-GARCH model has been conducted to determine the co-movements between the markets. Conclusion: The results of the study show that in the case of GB, treasury, and corporate bond markets, no considerable changes were observed in the co-movement among the two different sample periods. Moving to the stock and GB markets, it was found that the co-movement increased at the beginning of the crisis. However, for the whole crisis period, no substantial changes can be seen in comparison to the pre-crisis period. Furthermore, the co-movement between the two markets was found to be weak in general. Moving on to the results obtained for GB and carbon markets, at the start of the crisis, a sharp fall can be observed. When compared to the pre-crisis period, the co-movement showed a slight increase, yet very weak. Furthermore, it was observed that the co-movement between the two markets has been weak during the whole sample period.
3
Lazar, Stefan-Alexandru. "Quantitative Easing and its impact on wealth inequality." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-264417.
Анотація:
The aim of this thesis is to show how the unconventional monetary policy rounds of Quantitative Easing introduced in the United States between 2008 and 2014 have led to an increase in wealth inequality. The need for the thesis arises due to the uncharted nature of QE and because of more and more information is surfacing to light which points to this connection. By analysing the distribution of these funds and adding it to the then base distribution of money supply, this study was able to determine a significant 10 % increase in the Gini Index. Furthermore it highlights how a large portion of wealth was transferred from the middle class over to the top 5 % income households. Starting from a set of assumptions the calculation is performed by extrapolating the data required and by isolating the system from any external variables. The result is a theoretical model meant to describe the mechanism that links Quantitative Easing to wealth inequality. Moreover a detailed comparison is provided with the effect of a conventional monetary policy such as Open-Market Operations. Finally solutions to this issue are being discussed from economical, political and fiscal standpoints.
4
Tomé, Inês Alexandra Guerra. "The green twist in the bond market: a performance analysis of green and conventional indices." Master's thesis, 2019. http://hdl.handle.net/10071/19616.
Анотація:
Green bonds emerged as an innovative fixed income product with potential to mobilize capital to promote the climate change mitigation or adaptation.
The present study aims to investigate whether the green bonds integration into the investor’s portfolio provides superior returns or if it implies a trade-off between sustainability concerns and financial performance, through the analysis of green and conventional bond indices.
The analysis of returns suggests low volatility and consequently, low investment risk for both types of indices. The difference between the means of returns were not statistically significant, implying the rejection of the trade-off theory between sustainability and financial performance. Also, short-run dependencies between green, investment grade (AAA, AA, A e BBB ratings) and conventional governmental-related indices were found.
Through the study of the long-run dynamics 20 cointegration relationships were identified, out of which only 4 showed a long-run equilibrium relationship and 9 revealed a short-run relationship. Evidence of strong exogeneity was found across 2 relationships. This weak expression of long-run cointegration suggests potential for benefits associated to the investment portfolio diversification to green bonds.As obrigações verdes surgiram como um produto inovador de rendimento fixo para mobilizar fundos que promovam a mitigação e adaptação às mudanças climáticas. O presente estudo tem como objetivo investigar se a integração de obrigações verdes numa carteira de investimentos é rentável para o investidor ou se implica uma escolha entre preocupações ambientais e rentabilidade financeira, com base no estudo de índices obrigacionistas verdes e convencionais. A análise dos retornos financeiros sugere baixos níveis de volatilidade e por consequência, baixo risco de investimento para os dois tipos de índices. As diferenças entre as médias dos retornos não são estatisticamente significativas o que implica a rejeição de incompatibilidade entre preocupações ambientais e rentabilidade financeira. Dependências de curto-prazo entre índices verdes e índices convencionais obrigacionistas com notações de crédito AAA, AA, A e BBB e de obrigações governamentais foram encontradas. Através do estudo das relações dinâmicas de longo-prazo, 20 relações de cointegração foram identificadas, das quais apenas 4 demonstraram ser relações de equilíbrio de longo-prazo e 9 revelaram ser de curto-prazo. Evidência de forte exogeneidade foi encontrada em 2 relações. Esta fraca expressão de cointegração de longo-prazo sugere potenciais benefícios associados à diversificação da carteira de investimentos com obrigações verdes.
5
Fernandes, Carolina Hipólito. "Are green bonds and their comparable conventional bonds issued at a different yield in the European Market?" Dissertação, 2020. https://hdl.handle.net/10216/133158.
6
Fernandes, Carolina Hipólito. "Are green bonds and their comparable conventional bonds issued at a different yield in the European Market?" Master's thesis, 2020. https://hdl.handle.net/10216/133158.
Книги з теми "Conventional Bond Market":
1
Newton, David P. Market conventions vs. actuarial yields: Implications for bond swapping. Manchester: Manchester Business School, 1992.
2
John, Dewar, ed. International Project Finance. Oxford University Press, 2015. http://dx.doi.org/10.1093/law/9780198715559.001.0001.
Анотація:
The second edition of this text on project financing continues to provide guidance on the legal and practical issues relevant to international projects. As well as addressing the basic principles which affect the structuring and documentation of project financings, the book also explains structural, legal, and contractual differences between the various sectors such as transportation, telecommunication,infrastructure/public private partnerships, conventional, renewable and nuclear power, mining, and oil and gas, the latter sector focus being new to this edition. The book considers the application of English and New York law in cross-border documentation and legal and practical matters associated with running financing projects in civil law jurisdictions. Different sources of funding are also examined, such as banking and international bond documentation, and Islamic financing practice, in particular the use of Murabaha financing techniques and with additional analysis in this edition of the growing sukuk (Isalmic bond) market. This includes the legal and documentation issues arising from the use of such financing techniques and how they interact with each other from a legal and contractual perspective. The book also provides analysis of project defaults and work-outs giving guidance on how to manage projects when these circumstances arise. The book also contains coverage of dispute resolution in international projects.
3
Baker, H. Kent, Greg Filbeck, and Andrew C. Spieler, eds. Debt Markets and Investments. Oxford University Press, 2019. http://dx.doi.org/10.1093/oso/9780190877439.001.0001.
Анотація:
This book provides an objective look into the dynamic world of debt markets, products, valuation, and analysis. It also provides an in-depth understanding about this subject from experts in the field, both practitioners and academics. The coverage extends from discussing basic concepts and their application to increasingly intricate and real-world situations. This volume spans the gamut from theoretical to practical, while attempting to offer a useful balance of detailed and user-friendly coverage. The book has several distinguishing features. It blends the contributions of a global array of scholars and practitioners into a single review of some of the most important topics in this area. The book follows an internally consistent approach in format and style. Hence, it is collectively much more than a compilation of chapters from an array of different authors. It presents theory without unnecessary abstraction, quantitative techniques using basic bond mathematics, and conventions at a useful level of detail. It also incorporates how investment professionals analyze and manage fixed income portfolios. The book emphasizes empirical evidence involving debt securities and markets so it is understandable to a wide array of readers. Each chapter contains discussion questions to help reinforce key concepts. The end of the book contains guideline answers to each question. Readers interested in a broad survey will benefit as will those looking for more in-depth presentations of specific areas within this field of study. In summary, the book provides a fresh look at this intriguing and dynamic but often complex subject.
4
Voinescu, Alexandra, Nadia Wasi Iqbal, and Kevin J. Martin. Management of chronic kidney disease-mineral and bone disorder. Edited by David J. Goldsmith. Oxford University Press, 2018. http://dx.doi.org/10.1093/med/9780199592548.003.0118_update_001.
Анотація:
In all patients with chronic kidney disease (CKD) stages 3–5, regular monitoring of serum markers of CKD-mineral and bone disorder, including calcium (Ca), phosphorus (P), parathyroid hormone (PTH), 25-hydroxyvitamin D, and alkaline phosphatase, is recommended. Target ranges for these markers are endorsed by guidelines. The principles of therapy for secondary hyperparathyroidism include control of hyperphosphataemia, correction of hypocalcaemia, use of vitamin D sterols, use of calcimimetics, and parathyroidectomy. of hyperphosphataemia is crucial and may be achieved by means of dietary P restriction, use of P binders, and P removal by dialysis. Dietary P restriction requires caution, as it may be associated with protein malnutrition. Aluminium salts are effective P binders, but they are not recommended for long-term use, as Aluminium toxicity (though from contaminated dialysis water rather than oral intake) may cause cognitive impairment, osteomalacia, refractory microcytic anaemia, and myopathy. Ca-based P binders are also quite effective, but should be avoided in patients with hypercalcaemia, vascular calcifications, or persistently low PTH levels. Non-aluminium, non-Ca binders, like sevelamer and lanthanum carbonate, may be more adequate for such patients; however, they are expensive and may have several side effects. Furthermore, comparative trials have failed so far to provide conclusive evidence on the superiority of these newer P binders over Ca-based binders in terms of preventing vascular calcifications, bone abnormalities, and mortality. P removal is about 1800–2700 mg per week with conventional thrice-weekly haemodialysis, but may be increased by using haemodiafiltration or intensified regimens, such as short daily, extended daily or three times weekly nocturnal haemodialysis. Several vitamin D derivatives are currently used for the treatment of secondary hyperparathyroidism. In comparison with the natural form calcitriol, the vitamin D analogue paricalcitol seems to be more fast-acting and less prone to induce hypercalcaemia and hyperphosphataemia, but whether these advantages translate into better clinical outcomes is unknown. Calcimimetics such as cinacalcet can significantly reduce PTH, Ca, and P levels, but they have failed to definitively prove any benefits in terms of mortality and cardiovascular events in dialysis patients. Parathyroidectomy is often indicated in CKD patients with severe persistent hyperparathyroidism, refractory to aggressive medical treatment with vitamin D analogues and/or calcimimetics. This procedure usually leads to rapid improvements in biochemical markers (i.e. significant lowering of serum Ca, P, and PTH) and clinical manifestations (such as pruritus and bone pain); however, the long-term benefits are still unclear.
Частини книг з теми "Conventional Bond Market":
1
Consoli, Sergio, Luca Tiozzo Pezzoli, and Elisa Tosetti. "Using the GDELT Dataset to Analyse the Italian Sovereign Bond Market." In Machine Learning, Optimization, and Data Science, 190–202. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-64583-0_18.
Анотація:
AbstractThe Global Data on Events, Location, and Tone (GDELT) is a real time large scale database of global human society for open research which monitors worlds broadcast, print, and web news, creating a free open platform for computing on the entire world’s media. In this work, we first describe a data crawler, which collects metadata of the GDELT database in real-time and stores them in a big data management system based on Elasticsearch, a popular and efficient search engine relying on the Lucene library. Then, by exploiting and engineering the detailed information of each news encoded in GDELT, we build indicators capturing investor’s emotions which are useful to analyse the sovereign bond market in Italy. By using regression analysis and by exploiting the power of Gradient Boosting models from machine learning, we find that the features extracted from GDELT improve the forecast of country government yield spread, relative that of a baseline regression where only conventional regressors are included. The improvement in the fitting is particularly relevant during the period government crisis in May-December 2018.
2
Cally, Jordan. "Part III Beyond the Transatlantic Corridor, 10 The Paradoxes of Islamic Capital Markets." In International Capital Markets, edited by Golden Jeffrey. Oxford University Press, 2021. http://dx.doi.org/10.1093/law/9780198849001.003.0010.
Анотація:
This chapter describes Islamic capital markets. Led by Malaysia and its distinct Islamic Market, Bursa Malaysia-I, Islamic finance has entered the mainstream of international capital markets, primarily in the form of ‘Islamic bonds’ (sukuk) and fund products. Saudi Arabia, with its well-publicized Saudi Aramco initial public offering (IPO) in 2019, raised, less successfully, a different flag in the international markets. Islamic finance has infiltrated conventional markets too. Non-Islamic issuers, sovereigns, corporates and international institutions, have issued sukuk, attracted by the wash of liquidity and investors in the Gulf region. Indeed, Islamic finance has been rubbing shoulders with modern conventional finance for several decades now. As ‘conventional’ finance has become less ‘conventional’, shari'a compliant finance has become more accepted. Impediments to growth persist; the imperviousness to standardization and the artificiality of the structures underlying the financial products increase costs and possibly risk, making the products uncompetitive. However, cost is not the only consideration in the marketplace. With greater interest in ethical and ESG (environmental, social, and governance) investing, Islamic finance may be the path or the way to future markets.
3
Pappas, Vasileios. "Islamic Finance." In Recent Advances and Applications in Alternative Investments, 306–34. IGI Global, 2020. http://dx.doi.org/10.4018/978-1-7998-2436-7.ch013.
Анотація:
The Islamic finance industry is estimated around $1.7 trillion with substantial growth momentum in the past decades. It is now too important to be ignored, particularly in the Middle and Far East. This chapter reviews the most salient features of Islamic finance that distinguish it from the rest of the conventional financial universe. A significant volume of research focuses on the comparative performance of Islamic and conventional banks across a wide range of metrics, such as profitability, risk, and efficiency. Islamic stock and bonds markets are also an important segment of the related comparative literature and we reviews these studies, too. This chapter provides a comprehensive and up-to-date review of the extant literature, useful for academics and practitioners with little or significant experience in the Islamic finance sector.
4
Cruickshank, Ruth. "Introduction." In Leftovers, 1–12. Liverpool University Press, 2020. http://dx.doi.org/10.3828/liverpool/9781789620672.003.0001.
Анотація:
The introduction establishes the untapped interpretative potential bound up with food and drink and representations of it. An extraordinary nexus of post-war French thought that uses or is legible through figures of eating and drinking is identified, along with the new critical combinations which here provide a framework for re-thinking eating and drinking in four case-study novels. The conventional literary potential of food and drink is established, before introducing the contrasting novels which exceed those conventions. These are well-known, prize-winning works, all translated into English. They are self-consciously literary and differently theoretically-informed about intersecting questions of language, trauma, gender, class, race and global market economics. Chapter 1 is introduced as providing a flexible critical apparatus for the ensuing case studies and as a suggestive tool for re-thinking representations of eating and drinking in other genres or media. Optimizing accessibility, case studies can be read singly or severally (references to relevant sections of Chapter 1 are provided), and the novel, writer and any relevant critical material are introduced before re-thinking the representations of food and drink in each post-war French fiction. Thus, culturally-specific insights emerge together with a springboard for examining leftover interpretations in other forms of representational practice from other times and places.
5
Dasgupta, Chandrashekhar. "Present at the Creation." In India in a Warming World, 142–56. Oxford University Press, 2019. http://dx.doi.org/10.1093/oso/9780199498734.003.0008.
Анотація:
In this chapter, India’s lead negotiator for the framework convention recalls that the negotiations were marked by deep differences between developed and developing countries (though there were also significant divergences within these groups). Developing countries pressed for an equity-based agreement, maintaining that developed countries should accept their responsibility for precipitating climate change. They called on industrialized countries to accept time-bound emission reduction obligations and to transfer finance and technology to support voluntary mitigation actions by developing countries. The Convention recognized that voluntary obligations agreed upon by developing countries were conditional on receipt of financial resources to cover all incremental costs. However, developed countries accepted only an ambiguously worded emission stabilization commitment. This deficiency was rectified by the Kyoto Protocol 1997, which prescribed time-bound emission reduction targets for each developed country. The Paris Agreement 2015 halted this line of progress, marking a reversal to the ‘pledge and review’ approach rejected in 1991.
6
Monshouwer, Erik-Jan, and Raul Valverde. "Architecture for the Reengineering of Legacy Point of Sale Terminals through Web Services for the Reduction of Transaction Fees." In Information Systems Reengineering for Modern Business Systems, 226–42. IGI Global, 2012. http://dx.doi.org/10.4018/978-1-4666-0155-0.ch012.
Анотація:
With the conventional legacy POS payment transaction method, vendors are bound to a payment institute in their region and can only use relatively expensive dedicated or slow dial-up lines to their financial institute. This chapter covers the work to produce an architecture that shows how to reengineer traditional point of sales terminal payments in order to adapt these for payment over the Internet through Web services. With the use of Web services for payment transactions, vendors will get more freedom to choose their provider and the services they take without having to throw away their legacy applications. Given the globalization of the economy, vendors can negotiate services and fees with payment providers all over the world. Literature research and prototype tests and evaluation in this project show that transactions fees and performance of POS terminal payments transactions trough Web services can be competitive to conventional payment transactions methods and create flexibility for vendors POS terminal application. Vendor’s available Internet connections and the Web services standards in the market can be used for payment transactions. With Web services, the system can be created and changed relatively quickly and simply if the right skills are available.
7
Hotori, Eiji. "Drivers of Financial Deregulation in Japan." In Financial Deregulation, 58–75. Oxford University Press, 2021. http://dx.doi.org/10.1093/oso/9780198856955.003.0004.
Анотація:
This chapter aims to identify the real drivers of financial deregulation in Japan. Japan’s financial deregulation drivers clearly changed over time. In the late 1960s and the early 1970s, the liberalization of capital movement in Japan caused an administrative shift from its conventional rigid regulatory regime. From the mid-1970s, a rapid increase of Japanese government bonds issuances, as well as financial innovation, acted to remove the barriers between the banking and the securities businesses. From the mid-1980s, the pressure from the United States, as well as from domestic depositors and banks, urged the Japanese financial authorities to liberalize the financial market. It is evident that the drivers of financial deregulation in Japan in the 1980s were not only the pressure from abroad (as generally accepted), but that the deregulation was also driven by domestic interests including fiscal reasons.
8
Khan, Saniyah Saleem. "The Mechanistic Approach to Tackle Obesity Using Traditional Herbal Plants." In Treating Endocrine and Metabolic Disorders With Herbal Medicines, 104–23. IGI Global, 2021. http://dx.doi.org/10.4018/978-1-7998-4808-0.ch005.
Анотація:
Obesity is a medical metabolic condition where a person accumulates excess body fat that might affect their health. Obesity is a prevalent global health problem linked with other life-threatening chronic diseases like cardiovascular, certain types of cancer, diabetes, renal, cerebrovascular, bone, and muscle-related diseases. According to the World Health Organization (WHO), obesity is the fifth foremost cause of global deaths. Many allopathic drugs and surgical treatments for managing obesity are available in the market. However, these conventional methods have adverse side effects and chances of recurrence. For more than 2,000 years, herbal medicines have been used for the treatment of many diseases efficiently. This chapter addresses the current progress in the effectiveness of several herbal medications used for the treatment of obesity without causing side effects. The possible effects and mechanisms of using these herbaceous plants in the treatment of obese and overweight humans and animals are covered extensively.
9
Calvo, Guillermo. "The Liquidity Approach to Financial Crises1." In Macroeconomics in Times of Liquidity Crises. The MIT Press, 2016. http://dx.doi.org/10.7551/mitpress/9780262035415.003.0002.
Анотація:
The chapter focuses sharply on liquid assets, and is the heart of the book. It distinguishes between intrinsic and extrinsic liquidity, centering on the latter. Extrinsic liquidity may break down on the spur of the moment and generate socially costly Liquidity Crunch. A substantive part of the chapter is devoted to discussing relative resilience of liquid assets, and focuses on Keynes's Price Theory of Money, the resilience of the US dollar, the weakness of bonds denominated in that currency, and of currencies of emerging-market economies. The chapter claims that recent financial crises can realistically be modeled as old-fashioned bank runs, and that assets' liquidity may be a function of policy. Special attention is paid to a phenomenon called Liquidity Deflation, which helps to rationalize Liquidity Trap as a consequence of loss of money liquidity rather than on the conventional explanation based on the infinite interest elasticity of money demand.
10
Ahlskog, J. Eric. "General Medical Issues." In Dementia with Lewy Body and Parkinson's Disease Patients. Oxford University Press, 2013. http://dx.doi.org/10.1093/oso/9780199977567.003.0030.
Анотація:
People with DLB and PDD tend to be middle-aged and older. In this age group, selected general health issues deserve discussion. Comprehensive medical care is beyond the scope of this book, but several general medical topics should be addressed here. People with Lewy disorders commonly experience walking difficulties. The risk of falling may surface early or later in the condition. Fracture risk is also a concern, and preemptive action is wise. Falls can be tolerated if bones are strong; witness athletes who fall on a football field. Over the course of a lifetime, bones tend to lose their strength and become more prone to fractures. When the loss of bone integrity is substantial we categorize this as osteoporosis. There are specific criteria that doctors use to define osteoporosis. While bone integrity is measured in several ways, the most common and accepted measurement is by imaging with a nuclear medicine technique. A quick scan after injection of a radioisotope that is taken up by bones generates a picture and numeric data; these can be compared to those of normal subjects. This analysis is termed a nuclear medicine bone density study and sometimes is called a DEXA scan. Using the numeric measures from a bone density scan, reductions of bone integrity fall into two classes. We have already mentioned that substantial loss of bone strength is termed osteoporosis. A less severe reduction of bone integrity has been defined and termed osteopenia. Restated, mild bone weakening is osteopenia, and marked loss of bone integrity is osteoporosis. Conventionally, osteoporosis is treated with prescription medications, whereas the lesser problem of osteopenia is not. However, if there is a substantial fall risk, some clinicians would advise treating osteopenia with a prescription drug (see below). Who is at risk for osteoporosis? In the general population, advancing age is the major risk factor. Women over age 60 and men over age 70 fall into these risk categories, as well as those with very sedentary lives. In the context of DLB or PDD, osteoporosis is especially important to consider.
Тези доповідей конференцій з теми "Conventional Bond Market":
1
Voronetsky, A. V., D. A. Jagodnikov, L. A. Filimonov, S. A. Suchkov, N. V. Shirjaeva, A. A. Elisseev, and E. V. Boronin. "Practical Experiences With a New Portable HVOF Spraying and Cutting System." In ITSC 1998, edited by Christian Coddet. ASM International, 1998. http://dx.doi.org/10.31399/asm.cp.itsc1998p1393.
Анотація:
Abstract Current HVOF systems available on the world market are relatively complicated to operate and expensive. At the Bauman State Technical University in Moscow (BMSTU) a new portable HVOF spraying and cutting system MiniJet-30 has been developed. This rugged system offers the ease of operation of conventional gas welding equipment and produces high quality HVOF coatings. In this paper, the results of numerical simulation calculations of supersonic gas/powder flows, with and without a particle mask, are presented and compared with experimental outcomes. Additionally, typical HVOF coatings were sprayed and evaluated for bond strength, porosity, microhardness, abrasive wear, and phase composition (OM, XRD). The results are compared to those of other HVOF systems. Lastly, the cutting efficiencies for stainless steel, cast iron, and non-ferrous metals are discussed.
2
Pua, Lee M., and S. O. Rumbold. "Industrial Microchannel Devices: Where Are We Today?" In ASME 2003 1st International Conference on Microchannels and Minichannels. ASMEDC, 2003. http://dx.doi.org/10.1115/icmm2003-1101.
Анотація:
Heatric has been involved in the commercial design and manufacturing of “micro/milli” scale heat exchanger core matrices called Printed Circuit Heat Exchangers (PCHEs) since 1985. These core matrices are formed by diffusion bonding together plates into which fluid flow microchannels have (usually) been formed by photo-chemical machining. Complex fluid circuitry is readily implemented with this technique. Diffusion bonding is a ‘solid-state joining’ process creating a bond of parent metal strength and ductility. The complete microchannel heat exchangers are highly compact, typically comprising about one-fifth the size and weight of conventional heat exchangers for the same thermal duty and pressure drops. PCHEs can be constructed out of a range of materials, including austenitic stainless steels suitable for design temperatures up to 800°C, and nickel alloys such as Incoloy 800HT suitable for design temperatures more than 900°C. Single units ranging from a few grams up to 100 tonnes have been manufactured. Currently there are thousands of tons of such microchannel matrix in hundreds of services — many of them arduous duties on offshore oil and gas platforms where the size and weight advantages of microchannel heat exchangers are of obvious benefit. Whilst these matrices are predominantly involved in thermally simple two-fluid heat exchange, albeit at pressures up to 500 bar, PCHEs have also been used for many multi-stream counter-flow heat exchangers. However the field of applications is very varied, including specialised chemicals processing, and PCHEs are even to be found orbiting the Earth in the International Space Station! Due to the inherent flexibility of the etching process, the basic construction may readily be applied to both a wider range, and more complex integration of process unit operations. Chemical reaction, rectification, stripping, mixing, and absorption, as well as boiling and condensation, can be incorporated into compact integrated process modules. Crucially, the resulting degree of compactness has led printed circuit technology to be the enabling technology in certain duties. Techniques for chemical coating onto the surfaces of channels continue to evolve, with applicability both to protective coatings and catalytically active coatings. We will describe a selection of innovative printed circuit technology examples. Alongside the more esoteric, Heatric is actively extending printed circuit technology to adapt to new market opportunities such as nuclear power generation plant and fuel cell systems. These applications perhaps represent two extremes of the both size and process integration, and thus aptly serve to demonstrate the range of industrial use of microchannel devices.
3
Deepak, Tuli, M. K. Gupta, R. Seam, S. Sharma, M. Gupta, V. Fotedar, S. Vats, N. Himthani, A. Rana, and R. Kaundal. "Evaluation of adequacy of conventional radiotherapy fields based on bony landmarks in cervical cancer patients using contrast enhanced CT." In 16th Annual International Conference RGCON. Thieme Medical and Scientific Publishers Private Ltd., 2016. http://dx.doi.org/10.1055/s-0039-1685261.
Анотація:
Introduction: Cervical cancer is the second leading cause of cancer death in Indian women. Although, it is known that in Western women the conventional pelvic fields based on bony landmarks provided inadequate coverage for pelvic lymph nodes in cervical cancer; it remains unclear in Indian patients because of the pelvic anatomic discrepancies. In the present study, we have tried to evaluate the adequacy of conventional pelvic fields based on bony landmarks by using CECT using pelvic vessels as surrogate of lymph nodes. Aims and Objectives: To evaluate the lymph node location in CECT pelvis using vessels as surrogate markers.(a) To compare the data, so obtained, with the usual radiotherapy field; where bony landmarks are used to define the field.(b) To evaluate the adequacy of radiation portal defined on bony landm-arks in covering pelvic lymph nodes. Materials and Methods: This study was conducted in the Department of Radiotherapy and Oncology, Regional Cancer Centre, IGMC, Shimla in patients suffering from carcinoma of cervix. Two dimensional radiation portals were designed on conventional simulator “Acuity.” CECT pelvis was done in the same position along with same immobilization accessories used during conventional simulation. 2 mm thick slices were taken from L1 to mid femur. Using vessels as surrogates for lymph nodes and applying Taylors guidelines, adequacy of conventional GOG field was judged. Results: Most of the parameters failed in this study, signifying inadequacy of GOG defined field in Indian population, detailed results will be discussed at the time of presentation.
4
Soria, J., C. Soria, Me Mirshahi, S. Mirshahi, M. Mirshahi, E. Pujade, C. Boucheix, M. Samama, A. Bernadou, and J. P. Caen. "DDE COMPLEX DETERMINATION AS A SPECIFIC MARKER FOR FIBRINOLYSIS." In XIth International Congress on Thrombosis and Haemostasis. Schattauer GmbH, 1987. http://dx.doi.org/10.1055/s-0038-1643653.
Анотація:
Monoclonal antibodies (McAb) reacting with fibrin degradation products (FbDP), but not with fibrinogen have been produced in order to determine specifically FbDP directly in plasma. Most of the McAb available however do also react with fragment D. Our anti D neo McAb reacts about 10 times less with fragment D than with FbDP but does not react with fibrinogen, fragment X or Y.In clinical investigation, even in pathological conditions in which there is a great release of tissue-type plasminogen activator (tpA), we have shown that fragment D is not generated in patients plasma. Therefore, the reactivity of our McAb with fragment D did not alter the specificity of FbDP assay.On the contrary, using polyacrylamide gel electrophoresis in the presence of SDS followed by immunorevelation, we have evidenced that fragment D is generated in patients undergoing thrombolytic therapy even with rtpA. Therefore, using conventional Elisa procedure (capture of FbDP on polystyrene-immobilized anti D neo antibody and detection by peroxidase-labelled anti fragment D immunoglobulins), the presence of fragment D in patients plasma leads to an overevaluation of FbDP. To avoid this overestimation we have modified the Elisa procedure. The structure of FbDP was taken into acount in order to render the technique specific of FbDP. In FbDP fragment D coming from one fibrin monomer is always associated with fragment E from another fibrin monomer, as DDE complex for example. Therefore after capture of fragment D by the polystyrene-bound anti D neo McAb, FbDP were specifically revealed by peroxidase-labelled anti E antibody (polyclonal or monoclonal anti E may be used). For this reason, this test was named DDE determination and DDE determination can be used in any circumstances to evaluate fibrin degradation.
5
Han, Fengxiang X., Yi Su, and David L. Monts. "Current Mercury Distribution and Bioavailability in Floodplain Soils of Lower East Fork Popular Creek, Oak Ridge, Tennessee, USA." In ASME 2010 13th International Conference on Environmental Remediation and Radioactive Waste Management. ASMEDC, 2010. http://dx.doi.org/10.1115/icem2010-40260.
Анотація:
The objectives of this study were to investigate the current status of mercury distribution, speciation and bioavailability in the floodplain soils of Lower East Fork Poplar Creek (LEFPC) after decades of US Department of Energy’s remediation. Historically as part of its national security mission, the U.S. Department of Energy’s Y-12 National Security Facility in Oak Ridge, TN, USA acquired a significant fraction of the world’s supply of elemental mercury. During the 1950s and 1960s, a large amount of elemental mercury escaped confinement and is still present in the watershed surrounding the Y-12 facility. A series of remediation efforts have been deployed in the watersheds around the Oak Ridge site during the following years. The sampling fields were located in a floodplain of LEFPC of Oak Ridge, TN, USA. A series of surface soils (10–20 cm) were sampled from both wooded areas and wetland/grass land. Two 8×8 m fields were selected in the woodland. Five profiles each consisting of three layers were randomly taken from each field. The three layers were the surface layer at 0–10cm, subsurface layer at 50–60 cm, and bottom layer at 100–110 cm. Soil in both wood and wetland areas was well developed with a clear B horizon. The present study clearly shows that the total mercury in floodplain soils of LEFPC significantly decreased after the series of remediation. This study confirmed the long-term effectiveness of these remediation actions, especially after excavation of highly contaminated floodplain soils. However, the average total mercury level of all soil samples collected are in the range of 50–80 mg/kg, still significantly above toxic level (> 5mg/kg). Furthermore, contrary to conventional believing, the major mercury form in current soils of this particular area of floodplain of LEFPC is mainly in non-cinnabar mercury bound in clay minerals (after decades of remediation). The floodplains can act both as a medium-term sink and as long-term sources. Native North American earthworms (Diplocardia spp.) and adjacent soils were taken from each spot in each field. Our results show strong linear relationships between mercury concentrations in earthworms (both mature and immature groups) and non-cinnabar mercury form, while cinnabar mercury is less bioavailable to native earthworms. Earthworms may be used as a potential mercury ecological bio-indicator (bio-marker) for demonstrating mercury bioavailability and ecotoxicity in the ecosystem. The long-term stability, mobility and bioavailability of mercury contaminants in these floodplains still needs to be monitored continuously and closely.