Convertible Bonds as

Jeremy C. Stein

40 citations0/0 files storedSSRN Electronic Journal

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Corporate Finance and Governance Corporate Insolvency and Governance Credit Risk and Financial Regulations

Abstract

This paper argues that corporations may use convertible bonds as an indirect (albeit possibly risky) method for getting equity into their capital structures in situations where adverse selection problems make a conventional stock issue unattractive. Unlike other theories of convertible bond issuance, the model of this paper highlights: 1) the importance of call provisions on convertibles; and 2) the significance of costs of financial distress to the Information content of a convertible issue.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 40 citations exist upstream.

Cited by

2002Callable convertible debt under managerial entrenchment 1995The role of corporate groupings in controlling agency conflicts: The case of keiretsu 2004New Evidence on the Market Impact of Convertible Bond Issues in the U.S.1999Characteristics of firms that issue convertible debt versus convertible preferred stock 2002Risk changes around convertible debt offerings 2003Early and late calls of convertible bonds: Theory and evidence 2006The determinants of the hybrid security issuance decision for Australian firms 1999Timing of Convertible Debt Issues

Imported from OpenAlex (CC0) — nothing here is generated.