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To Call or Not To Call Convertible Debt

Calls of in-the-money convertible bonds appear to be consistent with the yield advantage, after-tax-cash-flow and safety-premium hypotheses. However, this study does not find any support for the signaling hypothesis or for the often-cited desire on the part of management to extinguish the bondholders' conversion option.
Year of publication:
1997
Authors: Ederington, Louis H. ; Caton, Gary L. ; Campbell, Cynthia J.
Published in:
Financial Management. - Financial Management Association - FMA. - Vol. 26.1997, 1
Publisher: Financial Management Association - FMA
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Type of publication: Article
Source:
Persistent link: https://www.econbiz.de/10005572115
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