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Stock reaction to dividend savings of convertible preferred calls: Free cash flow or price pressure effects?

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  • Kadapakkam, Palani-Rajan
  • Tang, Alex P.
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    File URL: http://www.sciencedirect.com/science/article/B6VCY-3VWC6GR-7/2/1127863b378e7924e2844abd24a8330c
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Banking & Finance.

    Volume (Year): 20 (1996)
    Issue (Month): 10 (December)
    Pages: 1759-1773

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    Handle: RePEc:eee:jbfina:v:20:y:1996:i:10:p:1759-1773

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    Web page: http://www.elsevier.com/locate/jbf

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Mazzeo, Michael A & Moore, William T, 1992. "Liquidity Costs and Stock Price Response to Convertible Security Calls," The Journal of Business, University of Chicago Press, vol. 65(3), pages 353-69, July.
    2. Dunn, Kenneth B. & Eades, Kenneth M., 1989. "Voluntary conversion of convertible securities and the optimal call strategy," Journal of Financial Economics, Elsevier, vol. 23(2), pages 273-301, August.
    3. Tang, Alex P & Kadapakkam, Palani-Rajan & Singer, Ronald F, 1994. "The Valuation Effects of Out-of-the-Money Calls of Convertible Securities," Journal of Financial Research, Southern Finance Association & Southwestern Finance Association, vol. 17(4), pages 481-93, Winter.
    4. Michael T. Maloney & J. Harold Mulherin, 1992. "The Effects of Splitting on the Ex: A Microstructure Reconciliation," Financial Management, Financial Management Association, vol. 21(4), Winter.
    5. Singh, Ajai K. & Cowan, Arnold R. & Nayar, Nandkumar, 1991. "Underwritten calls of convertible bonds," Journal of Financial Economics, Elsevier, vol. 29(1), pages 173-196, March.
    6. Lease, Ronald C & Masulis, Ronald W & Page, John R, 1991. " An Investigation of Market Microstructure Impacts on Event Study Returns," Journal of Finance, American Finance Association, vol. 46(4), pages 1523-36, September.
    7. Robert S. Hansen, 1988. "The Demise of the Rights Issue," Review of Financial Studies, Society for Financial Studies, vol. 1(3), pages 289-309.
    8. Mikkelson, Wayne H., 1981. "Convertible calls and security returns," Journal of Financial Economics, Elsevier, vol. 9(3), pages 237-264, September.
    9. Ingersoll, Jonathan E, Jr, 1977. "An Examination of Corporate Call Policies on Convertible Securities," Journal of Finance, American Finance Association, vol. 32(2), pages 463-78, May.
    10. Asquith, Paul & Mullins, David W, Jr, 1991. " Convertible Debt: Corporate Call Policy and Voluntary Conversion," Journal of Finance, American Finance Association, vol. 46(4), pages 1273-89, September.
    11. Hingorani, Archana & Makhija, Anil K. & Shastri, Kuldeep, 1994. "The impact of calls of preferred stock on common shareholders' wealth," Journal of Banking & Finance, Elsevier, vol. 18(6), pages 1095-1111, December.
    12. Linn, Scott C. & Pinegar, J. Michael, 1991. "The price effects of secondary offerings of senior securities and warrants," Journal of Banking & Finance, Elsevier, vol. 15(3), pages 683-698, June.
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    Cited by:
    1. Chang, Saeyoung & Puthenpurackal, John, 2014. "Repurchases of convertible preferred stock and shareholder wealth," Journal of Business Research, Elsevier, vol. 67(4), pages 623-630.

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