IDEAS home Printed from https://ideas.repec.org/a/eee/pacfin/v10y2002i1p1-27.html
   My bibliography  Save this article

The market for callable-convertible bonds: Evidence from Japan

Author

Listed:
  • Greiner, Daniel
  • Kalay, Avner
  • Kato, Hideaki Kiyoshi

Abstract

No abstract is available for this item.

Suggested Citation

  • Greiner, Daniel & Kalay, Avner & Kato, Hideaki Kiyoshi, 2002. "The market for callable-convertible bonds: Evidence from Japan," Pacific-Basin Finance Journal, Elsevier, vol. 10(1), pages 1-27, January.
    • Handle: RePEc:eee:pacfin:v:10:y:2002:i:1:p:1-27
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0927-538X(01)00025-7
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Maru, Junko & Takahashi, Toshiharu, 1985. "Recent Developments of Interdealer Brokerage in the Japanese Secondary Bond Markets," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 20(2), pages 193-210, June.
    2. Hodder, James E. & Tschoegl, Adrian E., 1985. "Some Aspects of Japanese Corporate Finance," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 20(2), pages 173-191, June.
    3. Ingersoll, Jonathan Jr., 1977. "A contingent-claims valuation of convertible securities," Journal of Financial Economics, Elsevier, vol. 4(3), pages 289-321, May.
    4. Harris, Milton & Raviv, Artur, 1985. "A Sequential Signalling Model of Convertible Debt Call Policy," Journal of Finance, American Finance Association, vol. 40(5), pages 1263-1281, December.
    5. Prowse, Stephen D., 1990. "Institutional investment patterns and corporate financial behavior in the United States and Japan," Journal of Financial Economics, Elsevier, vol. 27(1), pages 43-66, September.
    6. 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.
    7. Asquith, Paul, 1995. "Convertible Bonds Are Not Called Late," Journal of Finance, American Finance Association, vol. 50(4), pages 1275-1289, September.
    8. Brennan, M J & Schwartz, Eduardo S, 1977. "Convertible Bonds: Valuation and Optimal Strategies for Call and Conversion," Journal of Finance, American Finance Association, vol. 32(5), pages 1699-1715, December.
    9. Kang, Jun-Koo & Kim, Yong-Cheol & Park, Kyung-Joo & Stulz, René M., 1995. "An Analysis of the Wealth Effects of Japanese Offshore Dollar-Denominated Convertible and Warrant Bond Issues," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 30(2), pages 257-270, June.
    10. Kang, Jun-Koo & Stulz, Rene M, 1996. "How Different Is Japanese Corporate Finance? An Investigation of the Information Content of New Security Issues," Review of Financial Studies, Society for Financial Studies, vol. 9(1), pages 109-139.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Richard Arhinful & Mehrshad Radmehr, 2023. "The Impact of Financial Leverage on the Financial Performance of the Firms Listed on the Tokyo Stock Exchange," SAGE Open, , vol. 13(4), pages 21582440231, November.
    2. Fan, Chenxi & Luo, Xingguo & Wu, Qingbiao, 2017. "Stochastic volatility vs. jump diffusions: Evidence from the Chinese convertible bond market," International Review of Economics & Finance, Elsevier, vol. 49(C), pages 1-16.
    3. Neil Fargher & Baljit K. Sidhu & Ann Tarca & Warrick van Zyl, 2019. "Accounting for financial instruments with characteristics of debt and equity: finding a way forward," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 59(1), pages 7-58, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. King, Tao-Hsien Dolly & Mauer, David C., 2014. "Determinants of corporate call policy for convertible bonds," Journal of Corporate Finance, Elsevier, vol. 24(C), pages 112-134.
    2. Bruce D. Grundy & Patrick Verwijmeren, 2012. "Dividend-Protected Convertible Bonds and the Disappearance," Tinbergen Institute Discussion Papers 12-060/2/DSF37, Tinbergen Institute.
    3. Sarkar, Sudipto, 2003. "Early and late calls of convertible bonds: Theory and evidence," Journal of Banking & Finance, Elsevier, vol. 27(7), pages 1349-1374, July.
    4. Finnerty, John D., 2015. "Valuing convertible bonds and the option to exchange bonds for stock," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 91-115.
    5. Bajo, Emanuele & Barbi, Massimiliano, 2012. "The role of time value in convertible bond call policy," Journal of Banking & Finance, Elsevier, vol. 36(2), pages 550-563.
    6. Fernando Díaz & Rodolfo Martell & Gabriel Ramírez, 2011. "Agency Effects in the Convertible Debt Puzzle: An Empirical Investigation," Working Papers 26, Facultad de Economía y Empresa, Universidad Diego Portales.
    7. Koziol, Christian & Roßmann, Philipp, 2022. "Contingent convertible bonds: Optimal call strategy and the impact of refinancing," Journal of Corporate Finance, Elsevier, vol. 77(C).
    8. Jalan, P. & Barone-Adesi, G., 1995. "Equity financing and corporate convertible bond policy," Journal of Banking & Finance, Elsevier, vol. 19(2), pages 187-206, May.
    9. Adoukonou, Olivier & André, Florence & Viviani, Jean-Laurent, 2021. "The determinants of the convertible bonds call policy of Western European companies," International Review of Financial Analysis, Elsevier, vol. 73(C).
    10. Tobias Nigbur, 2015. "Calls of convertible debt securities: no bad news at all," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 29(1), pages 61-79, February.
    11. John Ammer & Michael S. Gibson, 1996. "Regulation and the cost of capital in Japan: a case study," International Finance Discussion Papers 556, Board of Governors of the Federal Reserve System (U.S.).
    12. Caporale, Guglielmo Maria & Kang, Woo-Young, 2021. "On the preferences of CoCo bond buyers and sellers," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 72(C).
    13. Gene C. Lai & Piman Limpaphayom, 2003. "Organizational Structure and Performance: Evidence From the Nonlife Insurance Industry in Japan," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 70(4), pages 735-757, December.
    14. Jonathan A. Batten & Karren Lee-Hwei Khaw & Martin R. Young, 2014. "Convertible Bond Pricing Models," Journal of Economic Surveys, Wiley Blackwell, vol. 28(5), pages 775-803, December.
    15. Martin, Darius & Qiu, Junfeng & Zhang, Yongli, 2015. "Asymmetric information and conversion price reset policy: The case of Chinese convertible debt," The Journal of Economic Asymmetries, Elsevier, vol. 12(2), pages 133-141.
    16. Stein, Jeremy C., 1992. "Convertible bonds as backdoor equity financing," Journal of Financial Economics, Elsevier, vol. 32(1), pages 3-21, August.
    17. Mehdi Nekhili, 1998. "Le mode de gouvernement des entreprises japonaises: un modèle à suivre ?," Revue Finance Contrôle Stratégie, revues.org, vol. 1(4), pages 63-82, December.
    18. Scruggs, John T., 2007. "Estimating the cross-sectional market response to an endogenous event: Naked vs. underwritten calls of convertible bonds," Journal of Empirical Finance, Elsevier, vol. 14(2), pages 220-247, March.
    19. Rastad, Mahdi, 2016. "Capital structure pre-balancing: Evidence from convertible bonds," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 43-65.
    20. Laura Ballotta & Ioannis Kyriakou, 2015. "Convertible bond valuation in a jump diffusion setting with stochastic interest rates," Quantitative Finance, Taylor & Francis Journals, vol. 15(1), pages 115-129, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:pacfin:v:10:y:2002:i:1:p:1-27. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/pacfin .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.