| Tekijä: | Munro, J. W. |
| Otsikko: | Convertible debt financing: An empirical analysis |
| Lehti: | Journal of Business Finance and Accounting
1996 : MAR, VOL. 23:2, p. 319-334 |
| Asiasana: | CAPITAL STRUCTURE OF COMPANIES DEBT EMPIRICAL RESEARCH |
| Kieli: | eng |
| Tiivistelmä: | Most capital structure studies only deal with the two extreme forms of external capital instruments - straight debt and equity. This paper presents the results of an empirical study, which analyses the role of convertible debt, the most significant hybrid source of finance, within a UK setting. While the results are able to explain the type of convertible debt issue made (i.e. its debt/equity likeness), the actual use of such instruments is not rationalised by the results. Therefore, this paper provides preliminary evidence concerning convertible debt within the finance choice and calls upon further work to rationalise the continued use of such instruments. |
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