Investitionen und Emissionen von Convertible Bonds (Wandelanleihen)

Convertible bond issues increase considerably since 1990. The papershows that these issues are more than just the combination of a bond and an option.The pricing depends on the share price, the shares volatility, the interest rate,and the interest volatility , the credit spread, and the correlation among them. Convertiblesare especially helpful for non rated or low rated companies. The informationasymmetry between management and investor can be considerably reducedcompared to bond or share issues.