An analysis of the wealth effects of japanese offshore dollar-denominated convertible and warrant bond issues

• Main Authors: Kang, Jun-Koo, Kim, Yong-Cheol, Park, Kyung-Joo, Stulz, Rene M.
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2013
• Subjects: Business
• Online Access: https://hdl.handle.net/10356/100637; http://hdl.handle.net/10220/18136; http://www.jstor.org/discover/10.2307/2331120?uid=3738992&uid=2129&uid=2&uid=70&uid=4&sid=21103137623083
• Institution: Nanyang Technological University

Offshore dollar-denominated equity-linked issues were a more important source of funds for Japanese companies during the 1980s than domestic equity and straight debt issues combined. Using a sample of Japanese equity-linked offshore issues from 1977 to 1989, we find that the announcement of these is...