haku: @indexterm VALUATION / yhteensä: 677
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| Tekijä: | Cowan, A. Nayar, N. Singh, A. |
| Otsikko: | Calls of out-of-the-money convertible bonds |
| Lehti: | Financial Management
1993 : WINTER, VOL. 22:4, p. 106-116 |
| Asiasana: | BONDS MONEY VALUATION |
| Kieli: | eng |
| Tiivistelmä: | In this paper , the authors examine calls of convertible bonds in which the effective call price of the bond exceeds the conversion value. The authors study calls in which the conversion option is out-of-the-money. They document positive and statistically significant common stock price reactions to the announcement of out-of -the-money calls. Positive stick price reactions to out-of-the-money calls are inconsistent with models of optimal call policy. |
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