Alternative sources of business development: Mezzanine financing

Show simple item record Sazonov, Sergey Petrovich Ezangina, Irina Alexandrovna Makarova, Elena Anatolievna Gorshkova, Natalia Valerievna Vaysbeyn, Konstantin Dmitrievich 2016-09-21T10:33:17Z 2016-09-21T10:33:17Z 2016
dc.identifier.issn ISSN 1211-555X (Print)
dc.identifier.issn ISSN 1804-8048 (Online)
dc.description.abstract The purpose of the study is to conduct a comprehensive analysis of the nature of mezzanine financing, its pros and cons, role in the system of investment activity in the world practice, as well as to assess the degree of adoption of the tool at the national capital market in Russia. The study lists multiple options of realization and tools of mezzanine financing with private placement. The characteristic features of this type of financial product are listed. Belonging to the mezzanine area of bridge financing is proved, as well as a new mortgage refinancing tool – "factory of mortgage-backed securities." The significance of the use of the mezzanine product in the state support programs abroad, as well as in Russia in the field of residential mortgage lending and co-financing of international transactions, was emphasized. The admissibility of various structures of the transaction and therefore its universality were determined as the basic advantage of mezzanine financing. The subjects of mezzanine capital were described, acting both as a lender and investor due to its specifics. The conclusion emphasized the limited possibilities of the development of mezzanine financing practice in Russia, mediated by the passivity of credit institutions, as well as the imperfection of the legislation regulating loan subordination and mortgage loan securitization. eng
dc.format p. 143-155 eng
dc.language.iso eng
dc.publisher Univerzita Pardubice cze
dc.relation.ispartof Scientific papers of the University of Pardubice. Series D, Faculty of Economics and Administration. 37/2016 eng
dc.rights open access eng
dc.subject option eng
dc.subject mezzanine financing eng
dc.subject mezzanine loan eng
dc.subject bridge financing eng
dc.subject mezzanine financing fund eng
dc.subject mortgage security eng
dc.subject convertible debt note eng
dc.title Alternative sources of business development: Mezzanine financing eng
dc.type Article eng
dc.peerreviewed yes eng
dc.publicationstatus published eng
dc.identifier.scopus 2-s2.0-84988517617
dc.subject.jel E52
dc.subject.jel G11
dc.subject.jel F21
dc.subject.jel O16

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