Lau, Ka Wo; Kwok, Yue Kuen - In: Journal of Futures Markets 24 (2004) 6, pp. 513-532
Several earlier theoretical studies on the optimal issuer's calling policy of a convertible bond suggest that the issuer should call the bond as soon as the conversion value exceeds the call price. However, empirical studies on actual cases of calling by convertible bond issuers reveal that...