FINANCIAL ENGINEERING - CORPORATE BONDS AS FINANCIAL INNOVATIONS IN THE HARD COAL MINING

摘要

Financial engineering is a new discipline in finances. It is identified with the management of investment risk, especially with methods of decreasing this risk. There is also a view that financial engineering means creating new, non-standard financial instruments, which are adapted to investor's needs (tailor-made). Financial engineering comprises those methods and tools, which are new and creative and solve financial problems. Hence, it refers to derivatives, various investment strategies, especially the portfolio theory. Financial engineering ties three different concepts of modern finances, which include estimation, risk and investment strategies (Jajuga & Jajuga, 2007).