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Investitionen und Emissionen von Convertible Bonds (Wandelanleihen)

  • Heidorn, Thomas
  • Gerhold, Mirko

Convertible bond issues increase considerably since 1990. The paper shows that these issues are more than just the combination of a bond and an option. The pricing depends on the share price, the shares volatility, the interest rate, and the interest volatility , the credit spread, and the correlation among them. Convertibles are especially helpful for non rated or low rated companies. The information asymmetry between management and investor can be considerably reduced compared to bond or share issues.

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Paper provided by Frankfurt School of Finance and Management in its series Frankfurt School - Working Paper Series with number 50.

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Date of creation: 2004
Date of revision:
Handle: RePEc:zbw:fsfmwp:50
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  1. Ecker, Thomas & Moormann, Jürgen, 1997. "Die Bank als Betreiberin einer elektronischen Shopping-Mall," Frankfurt School - Working Paper Series 4, Frankfurt School of Finance and Management.
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