The Role of Convertible Bonds in Alleviating Contracting Costs

2004 ◽  
Author(s):  
Sudha Krishnaswami ◽  
Devrim Yaman
Keyword(s):  
Convertible Bonds ◽  
Contracting Costs

scholarly journals Do Callable Convertibles Support The Investment Process Of A Company? An Analysis Of The World Market Of Hybrid Debt

2017 ◽  
Vol 20 (2) ◽  
pp. 5-19
Author(s):  
Damian Kaźmierczak
Keyword(s):  
United States ◽  
The United States ◽  
World Market ◽  
Convertible Bonds ◽  
Investment Projects ◽  
Service Companies ◽  
The World ◽  
Investment Process ◽  
A Company

Using a sample of 1,705 convertible bonds issued by manufacturing and service companies from the United States (1,138 issues); Europe (270); and Asia (297) between 2004 and 2014 this paper investigates the role of callable convertibles in the corporate investment process. This research shows first that callable convertibles are used to finance investment projects particularly by American firms which may exercise new investment options to improve poor financial performance. Secondly, the same strategy may be followed by European companies, but they seem not to carry out investments on as large a scale as American firms. Thirdly, the research results do not provide evidence that Asian enterprises use callable convertibles for investment purposes: they likely use these instruments for different reasons.

scholarly journals Game Options Analysis of the Information Role of Call Policies in Convertible Bonds

2015 ◽  
Vol 22 (4) ◽  
pp. 297-335
Author(s):  
Chi Man Leung ◽  
Nan Chen ◽  
Yue Kuen Kwok
Keyword(s):  
Convertible Bonds ◽  
Game Options

The Informativeness of Corporate Bond Trades

2011 ◽  
Vol 14 (03) ◽  
pp. 367-428 ◽  
Author(s):  
Peter Chen ◽  
Junbo Wang ◽  
Chunchi Wu
Keyword(s):  
Convertible Bonds ◽  
Bond Market ◽  
Corporate Bond ◽  
Return Volatility ◽  
Positive Relation ◽  
Transaction Data ◽  
Corporate Bond Market ◽  
Dramatic Difference ◽  
Asset Classes

This paper examines the informational role of trades in the corporate bond market. Using transaction data, we compare the temporal relation between volume and volatility of returns for both bonds and stocks issued by the same firms. We find a dramatic difference between these two securities. While there is a strong positive relation between return volatility and volume for stocks, this relation is much weaker for corporate bonds. This finding holds not only for straight bonds but also for callable and convertible bonds. Empirical evidence reveals a very different relation between volatility and volume in the corporate bond market than predicted by standard microstructure models. Results show that the role of volume and trade frequency can be quite different across asset classes.

Role of dactinomycin in the improved survival of children with Wilms' tumor

JAMA ◽  
1966 ◽  
Vol 195 (12) ◽  
pp. 1005-1009 ◽  
Author(s):  
D. J. Fernbach
Keyword(s):  
Wilms Tumor
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