haku: @indexterm debt financing / yhteensä: 179
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| Tekijä: | Lewis, C. M. Rogalski, R. J. Seward, J. K. |
| Otsikko: | Is convertible debt a substitute for straight debt or for common equity? |
| Lehti: | Financial Management
1999 : AUTUMN, VOL. 28:3, p. 5-27 |
| Asiasana: | Debt management Debt financing Stock markets Financial risk |
| Kieli: | eng |
| Tiivistelmä: | The authors examine the ability of the risk-shifting hypothesis and the backdoor-equity hypothesis to explain firms' decisions to issue convertible debt. Using a security choice model that incorporates preoffer issue, issuer, and macroeconomic information, they document significant variation in the market reaction to new convertible debt issues depending on whether investors expect the motivation for issuance to be asset substitution or asymmetric information. |
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