Patel, Ajay; Emery, Douglas R; Lee, Yul W - In: Journal of Financial Research 16 (1993) 3, pp. 181-92
In this paper we examine the long-term performance of publicly traded firms that issue straight debt, convertible debt, or common stock. Declines in firm performance following issuance are consistent with declines in firm value at announcement and issuance, and suggest that convertible debt and...