search query: @author Smith, D.M. / total: 2
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| Author: | Billingsley, R.S. Lamy, R.E. Smith, D.M. |
| Title: | Units of debt with warrants: evidence of the "penalty-free" issuance of an equity -like security |
| Journal: | Journal of Financial Research
1990 : FALL, VOL. 13:3, p.187-199 |
| Index terms: | MODELS FINANCIAL MODELS |
| Language: | eng |
| Abstract: | Though units of debt with warrants are not perfect substitutes for convertible bonds, apparently firms consider them as close viable alternatives. Special analyses provide unique evidence of the "penalty-free" issuance of an equity- like security. Evidence supports the conjecture that units are typically issued by smaller, riskier firms than are convertible bounds. Notwithstanding, market does not interprete its use as a sign of financial distress. |
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