Is Convertible Debt a Substitute for Straight Debt or for Common Equity?

Firms have two motivations for issuing convertible debt. Some issue convertible debt instead of straight debt to mitigate the costs of bondholder/stockholder agency conflicts. Others issue convertible debt instead of common debt to reduce the costs of adverse selection.

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Year of publication:	1999
Authors:	Lewis, Craig M. ; Rogalski, Richard J. ; Seward, James K.
Published in:	Financial Management. - Financial Management Association - FMA. - Vol. 28.1999, 3
Publisher:	Financial Management Association - FMA

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005765054