Review paper
Convertible debt issuance, capital structure change and financing-related information
Abstract
This paper provides evidence on the valuation effects of convertible debt issuance. Common stockholders earn significant negative abnormal returns at the initial announcement of a convertible debt offering, and also at the issuance date. In contrast, the average valuation effect on common stock at the announcement of non-convertible debt offerings is only marginally negative, and is zero at issuance. The significant negative average effect on...
Paper Details
Title
Convertible debt issuance, capital structure change and financing-related information
Published Date
Jun 1, 1984
Volume
13
Issue
2
Pages
157 - 186
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