...Byeongmon Cho; Sangbin Lee; Junghoon Seo This study tests empirically the impacts that the issue and redemption of index-typed ELS has on KOSPI200 & KOSPI200 Future Index and the performance of ELS redemption by using daily stock market data of year 2010-2015. The first one of research results...

...Kyunghee Lee; Hyuncheul Lim; Youngsoo Choi In this paper, we analyze the hedging risk intrinsic in the auto call step down equity linked securities (ELS) based on two underlying indices including HSCEI, which are major products of the ELS market. And we also propose new hedging strategies based...

...Young Geun Ji; Joon H. Rhee ELS (Equity Linked Security) is the structured product which is one of the fast grown and the most successful in Korean financial markets. In particular, ELS with the index of stocks as underlying asset (‘index ELS') has shown a remarkable growth since 2010. This paper...

...Hyuncheul Lim; Youngsoo Choi In this paper we analyze the shortfall risk implied in the auto call step down equity linked securities (ELS) based on two underlying assets, which is a major product of the rapidly growing ELS market as the low interest rate environment continues. And we also present...

...Kyung-Tae Nam; Hoon Cho ELS and ELW markets have been increasing sharply and become one of important financial markets in Korea since their inception. The purpose of this paper is to examine the impacts of issuance and maturity of ELS and ELW on both volume and volatility of underlying stocks...

...Yu Kyung Kim The Korean securities and derivatives markets, which offer such internationally renowned products as KOSPI 200 futures and options, along with proliferation of such derivative securities as ELS have offered an opportunity for investors to manage risk and select investment products...