Global ETD Search
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Showing 1 to 1 of 1 for “"Debt security design"”.
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Empirical Essays on Corporate Financing Behaviors
… issued during 2009-2021, I identify a shift in design toward non-dilutive instruments with low CoCo trigger levels that specify positive wealth transfers from bondholders to stockholders upon bank failure, thereby transforming CoCos from TLACs (Total Loss Absorbing Capacity) to ELACs …