Lloyds strategy out of state hands - was the issuance of contingent convertible bonds a key success factor? Effects of contingent convertible bonds issuance in bank´S profitability
Bibliographic record
Abstract
Effects of contingent convertible bonds issuance in banks' profitability Lloyds Banking Group was object of a public bailout in 2008, following the merger with Halifax Bank of Scotland.In 2009, the bank issued the first worldwide series of contingent convertible bonds (CCBs).Being Lloyds Banking Group reprivatisation an apparent case of success, one should know if this issuance was a key success factor.Therefore, this work project analyses the effects of issuing CCBs in banks' profitability.Through the estimation of a multiple regression model, negative effects on banks' profitability was found resulting from the issuance.Nevertheless, other determinants, such as the regulatory framework, should also be considered.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.003 | 0.001 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.004 | 0.001 |
| Bibliometrics | 0.001 | 0.000 |
| Science and technology studies | 0.001 | 0.002 |
| Scholarly communication | 0.000 | 0.001 |
| Open science | 0.001 | 0.000 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".