search query: @author Shatzberg, J. / total: 1
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| Author: | Robbins, E. Shatzberg, J. |
| Title: | Signalling under intertemporal resolution of uncertainty: distinguishing debt-with-warrants from similar offerings |
| Journal: | Review of Quantitative Finance and Accounting
1994 : VOL. 4:2, p. 155-178 |
| Index terms: | UNCERTAINTY SIGNALING DEBT |
| Language: | eng |
| Abstract: | This article extends existing static analyses of debt-with warrants' ability to signal by considering the intertemporal resolution of uncertainty. Provided that managers seek to minimize residual risk while correctly signalling prospects, callable bonds-with-warrants can prove strictly superior to analogous offerings of pure debt or of debt-with-equity. Because their intertemporal structure allows bonds to be called while warrants remain outstanding, these complicated offerings can also be successfully discriminated from convertible bonds. |
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