Showing 1 - 10 of 19
Persistent link: https://www.econbiz.de/10015179702
We conduct interviews with financial managers in Australia, Canada, the U.K., and the U.S. to study the question why companies issue convertible bonds. For the vast majority of the firms, convertible bonds are chosen because managers find straight debt too costly. Convertible bonds are preferred...
Persistent link: https://www.econbiz.de/10012975843
Persistent link: https://www.econbiz.de/10014494711
We explore the relationship between underwriter reputation and pricing (fee and yield) of corporate bond underwriting services in the U.S. during the global financial crisis (GFC) of 2007-2009. We compare the effect of underwriter reputation on bond pricing during the GFC with that in pre- and...
Persistent link: https://www.econbiz.de/10012909171
We investigate the effect of CEOs' education on their firms' probability of choosing convertible debt instead of straight debt and equity. Using a security choice framework, we find that CEOs with higher levels of education have a greater likelihood of issuing convertible debt, particularly when...
Persistent link: https://www.econbiz.de/10012909172
We examine the influence of corporate governance quality on firms' choice between convertible debt, straight debt, and equity. Using a Western European sample of security offerings made between 2000 and 2010, we find that weaker firm-specific and country-specific corporate governance quality...
Persistent link: https://www.econbiz.de/10013106242
Convertible debt represents an important source of financing for U.S. companies. We examine whether convertible bond issuance activity is influenced by changes in investor demand for convertible debt. We find that investor demand proxies are able to explain approximately one-third of the...
Persistent link: https://www.econbiz.de/10013146858
Persistent link: https://www.econbiz.de/10010243510
Persistent link: https://www.econbiz.de/10009735774
Investor demand for convertible debt may change over time, due to changes in investor tastes and/or in funds available for convertible investment. We examine whether security-issuing firms cater to temporal fluctuations in investor demand for convertible debt. We find that investor demand...
Persistent link: https://www.econbiz.de/10013156802