haku: @indexterm WARRANTS / yhteensä: 25
viite: 6 / 25
| Tekijä: | Howe, J. S. Su, T. |
| Otsikko: | Discretionary reductions in warrant exercise prices |
| Lehti: | Journal of Financial Economics
2001 : JUL, VOL. 61:1, p. 227-252 |
| Asiasana: | STOCK MARKETS WARRANTS |
| Vapaa asiasana: | EXERCISE PRICES |
| Kieli: | eng |
| Tiivistelmä: | Managers can decide to reduce a warrant's exercise price. A reduction in exercise price can induce exercise (a conversion-forcing reduction) or not (a long-term reduction). Conversion-forcing firms show an abnormal return of -1,53% on the announcement day but they perform well over the three years following the announcement. This finding suggests that the funds raised from warrant exercise are invested in profitable projects. |
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