Is a convertible bond call really bad news?
The article tests and rejects the hypothesis that managers call in-the-money convertibles when they view a decline in the value of the firm as likely. Inconsistent with this view, it finds that insiders generally buy equity before conversion-forcing calls. Also, analysts tend to raise their earnings...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2001
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/2203 https://ink.library.smu.edu.sg/context/lkcsb_research/article/3202/viewcontent/Convertible_Bond_Call_Really_Bad_News.pdf |
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| Institution: | Singapore Management University |
| Language: | English |