Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/258407 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 14 [Issue:] 7 [Article No.:] 303 [Publisher:] MDPI [Place:] Basel [Year:] 2021 [Pages:] 1-8
Publisher: 
MDPI, Basel
Abstract: 
Capital protected products are a special type of structured retail products that guarantee a minimum amount of payment at maturity. They were the earliest type of structured products and are very popular with risk averse investors, but nevertheless have become rare in the past years. Using a unique dataset of all structured products issued in Switzerland, one of the biggest markets for such products in the world, we investigate why this has been the case, and argue that it is to a large degree an effect of the zero-interest policy of central banks.
Subjects: 
capital protected notes
guarantee certificates
loss aversion
structured financial products
structured notes
structured products
zero interest policy
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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