Billingsley, Randall S; Lamy, Robert E; Smith, David M - In: Journal of Financial Research 13 (1990) 3, pp. 187-99
While units of debt with warrants are not structured as perfect substitutes for convertible bonds, there is reason to believe that firms view the two securities as viable alternative methods of raising funds. Analyses of the capital market effects of the announcement of the plan to issue and the...