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Institutional investors as suppliers of equity-linked capital: Evidence from privately placed convertible debt

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  • Marciukaityte, Dalia
  • Varma, Raj
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Research.

    Volume (Year): 60 (2007)
    Issue (Month): 4 (April)
    Pages: 357-364

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    Handle: RePEc:eee:jbrese:v:60:y:2007:i:4:p:357-364

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

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    1. Mikkelson, Wayne H. & Partch, M. Megan, 1986. "Valuation effects of security offerings and the issuance process," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 31-60.
    2. John D. Lyon & Brad M. Barber & Chih-Ling Tsai, 1999. "Improved Methods for Tests of Long-Run Abnormal Stock Returns," Journal of Finance, American Finance Association, vol. 54(1), pages 165-201, 02.
    3. Fama, Eugene F. & French, Kenneth R., 1993. "Common risk factors in the returns on stocks and bonds," Journal of Financial Economics, Elsevier, vol. 33(1), pages 3-56, February.
    4. Fields, L Paige & Mais, Eric L, 1991. " The Valuation Effects of Private Placements of Convertible Debt," Journal of Finance, American Finance Association, vol. 46(5), pages 1925-32, December.
    5. McLaughlin, Robyn M & Safieddine, Assem & Vasudevan, Gopala K, 1998. "The Long-Run Performance of Convertible Debt Issuers," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 21(4), pages 373-88, Winter.
    6. Lee, Inmoo & Loughran, Tim, 1998. "Performance following convertible bond issuance," Journal of Corporate Finance, Elsevier, vol. 4(2), pages 185-207, June.
    7. Hertzel, Michael G & Smith, Richard L, 1993. " Market Discounts and Shareholder Gains for Placing Equity Privately," Journal of Finance, American Finance Association, vol. 48(2), pages 459-85, June.
    8. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
    9. Loughran, Tim & Ritter, Jay R, 1997. " The Operating Performance of Firms Conducting Seasoned Equity Offerings," Journal of Finance, American Finance Association, vol. 52(5), pages 1823-50, December.
    10. Eckbo, B. Espen, 1986. "Valuation effects of corporate debt offerings," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 119-151.
    11. Barber, Brad M. & Lyon, John D., 1997. "Detecting long-run abnormal stock returns: The empirical power and specification of test statistics," Journal of Financial Economics, Elsevier, vol. 43(3), pages 341-372, March.
    12. Gil S. Bae & Jinho Jeong & Huey-Lian Sun & Alex P. Tang, 2002. "Stock Returns and Operating Performance of Securities Issuers," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 25(3), pages 337-352.
    13. Samuel H. Szewczyk & Raj Varma, 1991. "Raising Capital With Private Placements Of Debt," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 14(1), pages 1-13, 03.
    14. Michael Hertzel & Michael Lemmon & James S. Linck & Lynn Rees, 2002. "Long-Run Performance following Private Placements of Equity," Journal of Finance, American Finance Association, vol. 57(6), pages 2595-2617, December.
    15. Myers, Stewart C. & Majluf, Nicolás S., 1945-, 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Working papers 1523-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    16. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
    17. Wruck, Karen Hopper, 1989. "Equity ownership concentration and firm value : Evidence from private equity financings," Journal of Financial Economics, Elsevier, vol. 23(1), pages 3-28, June.
    18. Dann, Larry Y. & Mikkelson, Wayne H., 1984. "Convertible debt issuance, capital structure change and financing-related information : Some new evidence," Journal of Financial Economics, Elsevier, vol. 13(2), pages 157-186, June.
    19. James, Christopher, 1987. "Some evidence on the uniqueness of bank loans," Journal of Financial Economics, Elsevier, vol. 19(2), pages 217-235, December.
    20. Ritter, Jay R., 2003. "Investment banking and securities issuance," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 5, pages 255-306 Elsevier.
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    Cited by:
    1. Jung, Mookwon & Sullivan, Michael J., 2009. "The signaling effects associated with convertible debt design," Journal of Business Research, Elsevier, vol. 62(12), pages 1358-1363, December.
    2. Shin, Jongtae & Shin, Hyun, 2013. "Institutional ownership and technological relatedness: A test of endogeneity," Journal of Business Research, Elsevier, vol. 66(11), pages 2279-2286.

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