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Bond Refunding In Efficient Markets: A Dynamic Analysis With Tax Effects

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  • Raymond C. Chiang
  • M. P. Narayanan

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  • Raymond C. Chiang & M. P. Narayanan, 1991. "Bond Refunding In Efficient Markets: A Dynamic Analysis With Tax Effects," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 14(4), pages 287-302, December.
  • Handle: RePEc:bla:jfnres:v:14:y:1991:i:4:p:287-302
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    File URL: http://hdl.handle.net/10.1111/j.1475-6803.1991.tb00667.x
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    References listed on IDEAS

    as
    1. Ofer, Aharon R & Taggart, Robert A, Jr, 1977. "Bond Refunding: A Clarifying Analysis," Journal of Finance, American Finance Association, vol. 32(1), pages 21-30, March.
    2. Oswald D. Bowlin, 1966. "The Refunding Decision: Another Special Case In Capital Budgeting," Journal of Finance, American Finance Association, vol. 21(1), pages 55-68, March.
    3. Brennan, Michael J. & Schwartz, Eduardo S., 1977. "Savings bonds, retractable bonds and callable bonds," Journal of Financial Economics, Elsevier, vol. 5(1), pages 67-88, August.
    4. Harold Bierman, Jr., 1966. "The Bond Refunding Decision as a Markov Process," Management Science, INFORMS, vol. 12(12), pages 545-551, August.
    5. Basil A. Kalymon, 1971. "Bond Refunding with Stochastic Interest Rates," Management Science, INFORMS, vol. 18(3), pages 171-183, November.
    6. Yawitz, Jess B & Anderson, James A, 1977. "The Effect of Bond Refunding on Shareholder Wealth," Journal of Finance, American Finance Association, vol. 32(5), pages 1738-1746, December.
    7. Vu, Joseph D., 1986. "An empirical investigation of calls of non-convertible bonds," Journal of Financial Economics, Elsevier, vol. 16(2), pages 235-265, June.
    8. H. Martin Weingartner, 1967. "Optimal Timing of Bond Refunding," Management Science, INFORMS, vol. 13(7), pages 511-524, March.
    9. Kraus, Alan, 1973. "The Bond Refunding Decision in an Efficient Market," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 8(5), pages 793-806, December.
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    Cited by:

    1. Manak Gupta & Alice Lee, 2006. "An Integrated Model of Debt Issuance, Refunding, and Maturity," Review of Quantitative Finance and Accounting, Springer, vol. 26(2), pages 177-199, March.
    2. Sarkar, Sudipto, 2001. "Probability of call and likelihood of the call feature in a corporate bond," Journal of Banking & Finance, Elsevier, vol. 25(3), pages 505-533, March.

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