Understanding The Design Of Convertible Debt
AbstractThere are now two dominant theories of convertible debt held by academic economists. One theory which has been called the "risk-shifting" hypothesis-effectively views convertibles as an alternative to straight debt. The second-known as the "sig-nalling" (or "backdoor-equity") theory-treats convertibles as an alternative to ordinary equity. This article attempts to unify (or at least to illustrate the relationship between) these two theories by focusing on the design of the securities. 1998 Morgan Stanley.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Morgan Stanley in its journal Journal of Applied Corporate Finance.
Volume (Year): 11 (1998)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=1078-1196
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Renata Drumond Pinto Coelho Antonino & Wagner Moura Lamounier & Roberto Kaehler de Albuquerque Maranhão, 2010. "Systematic risk variations (beta) convertible debenture brazilian companies," Brazilian Business Review, Fucape Business School, vol. 7(3), pages 1-22, September.
- Schmitt, Andre & Spaeter, Sandrine, 2005. "Improving the prevention of environmental risks with convertible bonds," Journal of Environmental Economics and Management, Elsevier, vol. 50(3), pages 637-657, November.
- Wever, Jolle O. & Smid, Peter P.M. & Koning, Ruud H., 2002. "Pricing of convertible bonds with hard call features," Research Report 02E74, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.