IDEAS home Printed from https://ideas.repec.org/a/fma/fmanag/alderson93.html
   My bibliography  Save this article

Financial Innovations and Excesses Revisited: The Case of Auction Rate Preferred Stock

Author

Listed:
  • Michael J. Alderson
  • Donald R. Fraser

Abstract

An unprecedented surge in financial innovation took place during the 1980s. One of these innovations was the creation of a family of securities designed to lower the cost of preferred stock financing by widening the availability of the dividends-received deduction (a provision of the tax code that allows corporations to avoid paying taxes on a portion of the dividends that they receive from other corporations).

Suggested Citation

  • Michael J. Alderson & Donald R. Fraser, 1993. "Financial Innovations and Excesses Revisited: The Case of Auction Rate Preferred Stock," Financial Management, Financial Management Association, vol. 22(2), Summer.
  • Handle: RePEc:fma:fmanag:alderson93
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

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


    Cited by:

    1. Song Han & Dan Li, 2010. "The fragility of discretionary liquidity provision - lessons from the collapse of the auction rate securities market," Finance and Economics Discussion Series 2010-50, Board of Governors of the Federal Reserve System (U.S.).
    2. Murphy, Austin & Kleiman, Robert & Nathan, Kevin, 1997. "The Value of convertible preferred stock in transactions with "relationship investors" like Warren Buffett," International Review of Financial Analysis, Elsevier, vol. 6(3), pages 241-256.

    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:fma:fmanag:alderson93. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Courtney Connors (email available below). General contact details of provider: https://edirc.repec.org/data/fmaaaea.html .

    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.