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Showing 1 to 5 of 5 for “"Convertibles"”.
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Market Valuation of Convertible Securities of U.S. Airlines
… convertible securities. The important feature of convertibles is the relative insensitivity of their value to the risk of the issuing company (Brennan and Schwartz, 1988). This separation is achieved by selecting appropriate convertible contract parameters.</p> <p>Pricing of interest rate …
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The Pricing And Performance Of Convertible Preferred Stock Offerings Following Issuance
… are more likely to be underpriced than small cap convertibles. Also, the offerings that are underwritten by non-reputable investment bankers are more likely to be underpriced than those underwritten by reputable investment bankers.
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An empirical analysis of the choice among issuing straight debt, equity, and equity-linked debt securities
… Also, a comparison of the terms of units and convertibles reveals that, in practice, units are not structured as synthetic convertible bonds. A cross—sectional analysis evaluates unit and convertible issuer abnormal returns in light of hypotheses that the securities reduce agency costs to the …
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Contingent Capital: Valuation and Risk Implications Under Alternative Conversion Mechanisms
… control of the firm. In the case of contingent convertibles the conversion trigger is assumed as a contractual term specified by market value of assets. For bail-in debt the trigger is where the original shareholders optimally default. We study incentives of shareholders to change the capital …