haku: @author Corrado, C. / yhteensä: 3
viite: 2 / 3
| Tekijä: | Corrado, C. Patel, A. |
| Otsikko: | The information content of a convertible debt offer announcement |
| Lehti: | Review of Quantitative Finance and Accounting
1995 : DEC, VOL. 5:4, p. 403-418 |
| Asiasana: | ACCOUNTING INFORMATION FINANCE |
| Kieli: | eng |
| Tiivistelmä: | The authors develop a model of convertible debt financing that combines issue and call decisions into a common framework. The model suggests a model for refinancing costs in a manager's efforts to signal firm productivity to investors by an appropriate choice of debt issue terms. A cross section of convertible debt offers can be divided into two groups: a high conversion ratio group and a low conversion ratio group. The model predicts that high conversion ratios are negatively correlated with offer announcement stock returns. |
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