Erol N Hakanoglu

US Patent:

8417634, Apr 9, 2013

Filed:

Feb 13, 2009

Appl. No.:

12/370798

Inventors:

Emerson P. Jones - Greenwich CT, US
Erol Hakanoglu - New York NY, US

Assignee:

Goldman, Sachs & Co. - New York NY

International Classification:

G06Q 40/00

US Classification:

705 40, 705 35

Abstract:

Various embodiments of the present invention relate to methods and systems for analyzing a capital structure for a company (e. g. , a public corporation). More particularly, one embodiment of the present invention relates to a decision making tool for analyzing a company's capital structure, which decision making tool may include: (1) Economic EPS, wherein Economic EPS and its volatility may capture the cost/risk trade-off of all fixed income and equity-related alternative capital structures; and (2) Capital Structure Efficient Frontier, wherein a company should strive to bring its capital structure to the efficient frontier of strategies with the highest EPS for given levels of EPS risk. Of note, the Economic EPS and the Capital Structure Efficient Frontier methodologies of the present invention provide a unifying framework in which to analyze a company's capital structure (e. g. , for identifying and implementing the economically optimal solutions to a company's capital structure challenges). Apart from the global view of the company's capital structure, this framework can be used as a decision-making tool for analyzing and comparing specific restructuring transactions (including, but not limited to): new financing, share repurchase, liability management, bank capital optimization, and/or tax-driven hybrid equity issuance.

US Patent:

20040177016, Sep 9, 2004

Filed:

Sep 30, 2003

Appl. No.:

10/676297

Inventors:

Emerson Jones - Greenwich CT, US
Erol Hakanoglu - New York NY, US

International Classification:

G06F017/60

US Classification:

705/035000

Abstract:

Various embodiments of the present invention relate to methods and systems for analyzing a capital structure for a company (e.g., a public corporation). More particularly, one embodiment of the present invention relates to a decision making tool for analyzing a company's capital structure, which decision making tool may include: (1) Economic EPS, wherein Economic EPS and its volatility may capture the cost/risk trade-off of all fixed income and equity-related alternative capital structures; and (2) Capital Structure Efficient Frontier, wherein a company should strive to bring its capital structure to the efficient frontier of strategies with the highest EPS for given levels of EPS risk. Of note, the Economic EPS and the Capital Structure Efficient Frontier methodologies of the present invention provide a unifying framework in which to analyze a company's capital structure (e.g., for identifying and implementing the economically optimal solutions to a company's capital structure challenges). Apart from the global view of the company's capital structure, this framework can be used as a decision-making tool for analyzing and comparing specific restructuring transactions (including, but not limited to): new financing, share repurchase, liability management, bank capital optimization, and/or tax-driven hybrid equity issuance.

US Patent:

20050004854, Jan 6, 2005

Filed:

Sep 30, 2003

Appl. No.:

10/676056

Inventors:

Emerson Jones - Greenwich CT, US
Erol Hakanoglu - New York NY, US

International Classification:

G06F017/60

US Classification:

705035000

Abstract:

Various embodiments of the present invention relate to methods and systems for analyzing a capital structure for a company (e.g., a public corporation). More particularly, one embodiment of the present invention relates to a decision making tool for analyzing a company's capital structure, which decision making tool may include: (1) Economic EPS, wherein Economic EPS and its volatility may capture the cost/risk trade-off of all fixed income and equity-related alternative capital structures; and (2) Capital Structure Efficient Frontier, wherein a company should strive to bring its capital structure to the efficient frontier of strategies with the highest EPS for given levels of EPS risk. Of note, the Economic EPS and the Capital Structure Efficient Frontier methodologies of the present invention provide a unifying framework in which to analyze a company's capital structure (e.g., for identifying and implementing the economically optimal solutions to a company's capital structure challenges). Apart from the global view of the company's capital structure, this framework can be used as a decision-making tool for analyzing and comparing specific restructuring transactions (including, but not limited to): new financing, share repurchase, liability management, bank capital optimization, and/or tax-driven hybrid equity issuance.

US Patent:

20050021435, Jan 27, 2005

Filed:

May 4, 2004

Appl. No.:

10/838842

Inventors:

Erol Hakanoglu - New York NY, US
Emerson Jones - Greenwich CT, US

International Classification:

G06F017/60

US Classification:

705036000, 705035000

Abstract:

Various embodiments of the present invention relate to an Economic Accounting Model which divides any equity-related instrument into a common stock component, a liability component, and an asset component (one or more of which may have a zero value). In one example (which example is intended to be illustrative and not restrictive): (a) the initial common stock component corresponds to the “equity delta” of the security, or the ratio of the change in value of the security to the change in price of the underlying stock; (b) the liability component corresponds to the PV of fixed cash outflows multiplied by the probability of these outflows; and (c) the asset component corresponds to the PV of fixed cash inflows multiplied by the probability of these inflows.