Share these talks and lectures with your colleagues
Invite colleaguesWe noted you are experiencing viewing problems
-
Check with your IT department that JWPlatform, JWPlayer and Amazon AWS & CloudFront are not being blocked by your network. The relevant domains are *.jwplatform.com, *.jwpsrv.com, *.jwpcdn.com, jwpltx.com, jwpsrv.a.ssl.fastly.net, *.amazonaws.com and *.cloudfront.net. The relevant ports are 80 and 443.
-
Check the following talk links to see which ones work correctly:
Auto Mode
HTTP Progressive Download Send us your results from the above test links at access@hstalks.com and we will contact you with further advice on troubleshooting your viewing problems. -
No luck yet? More tips for troubleshooting viewing issues
-
Contact HST Support access@hstalks.com
-
Please review our troubleshooting guide for tips and advice on resolving your viewing problems.
-
For additional help, please don't hesitate to contact HST support access@hstalks.com
We hope you have enjoyed this limited-length demo
This is a limited length demo talk; you may
login or
review methods of
obtaining more access.
- Part A: Traditional forms of corporate financing
-
1. Traditional theories of capital structure: trade-off versus pecking order
- Prof. Vidhan K. Goyal
-
2. Venture capital 1
- Prof. Thomas J. Chemmanur
-
3. Venture capital 2
- Prof. Thomas J. Chemmanur
-
4. Venture capital 3
- Prof. Thomas J. Chemmanur
-
5. Security Design 1
- Prof. Tom Noe
-
6. Security Design 2
- Prof. Tom Noe
-
7. Security Design 3
- Prof. Tom Noe
-
8. Initial public offerings 1
- Prof. John Cooney
-
9. Initial public offerings 2
- Prof. John Cooney
- Part B: Innovations in corporate financing policy
-
11. Peer-to-Peer (P2P) lending
- Prof. Laura Gonzalez
-
12. Equity crowdfunding and prosperity
- Prof. Douglas Cumming
-
13. Islamic banking and finance
- Prof. Philip Molyneux
Printable Handouts
Navigable Slide Index
- Introduction
- Talk outline
- Talk content overview
- Basic question
- The setting for security design models
- An entrepreneur with an opportunity
- The plan
- Project revenue
- Security design setting
- Background assumptions
- The security design problem
- A rather old-fashioned solution
- Property-rights perspective
- We need a wrinkle
- Candidate wrinkles
- Observations
This material is restricted to subscribers.
Topics Covered
- The basic question of security design
- The setting for security design models
- Opportunity and plan of the entrepreneur
- Project revenue
- Background assumptions
- The security design problem
- Property-rights perspective
- Candidate wrinkles
- Observations
Talk Citation
Noe, T. (2014, October 7). Security Design 1 [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved December 26, 2024, from https://doi.org/10.69645/FOCF9913.Export Citation (RIS)
Publication History
Security Design 1
Published on October 7, 2014
19 min
Transcript
Please wait while the transcript is being prepared...
0:00
Hello. My name is Tom Noe from
Oxford University
and I'm going to
talk to you today
about security design,
the question of what
securities firms
should issue to
finance investments.
0:13
I'm going to start by giving you
a basic introduction to what
the security design problem is.
0:20
This talk is going to
essentially consider
the optimal design of
financial securities.
What I'd like you to learn from
this talk is the
logic underlying
the basic finance models
of security choice
and security design.
Unfortunately, all things are
limited and my time is limited.
So, I'm not going
to be able to cover
all the technical details in
this literature it's a very
technical complex literature.
I'm not going to
be able to cover
all the extensions
of these models,
how you can extend
them to many periods,
how you can extend
them beyond for
profit firms to say
not for profit firms,
but you will understand
the logic of
the security design models
at the completion
of this lecture.
I'm very confident of that.
How are you going to learn
this? Well, you're going to
learn it because we're
going to cover in
a fair moderate
amount of detail,
a few very classic
example models
of security design from the
security design literature.
1:26
What is our question?
What is it we're going to
be talking about today?
Security design. What is that?
The question essentially
is: If a firm has
an investment opportunity
or an entrepreneur,
how should he finance the
investment opportunity?
What should he promise to
outside investors
in order to get
them to provide the funds
necessary to undertake
the investment?
That's the question we're
talking about today.