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On Relations among Stock Price Behavior and Changes in the Capital Structure of the Firm

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  • Boness, A. James
  • Chen, Andrew H.
  • Jatusipitak, Som

Abstract

There now exists a formidable documentation of the hypothesis that time series of common stock prices follow random walks. Taking these empirical demonstrations as convincing, additional work has largely fallen into two classes: (a) direct theorizing and testing of the exact nature of the random price-generating process; and (b) theorizing and testing of the implications of random walks in common stock price for the values of related securities such as warrants and convertibles.

Suggested Citation

  • Boness, A. James & Chen, Andrew H. & Jatusipitak, Som, 1972. "On Relations among Stock Price Behavior and Changes in the Capital Structure of the Firm," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 7(4), pages 1967-1982, September.
    • Handle: RePEc:cup:jfinqa:v:7:y:1972:i:04:p:1967-1982_01
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