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Capital gains taxes and asset prices : capitalization or lock-in?
Dai, Zhonglan; Maydew, Edward L.; Shackleford, Douglas A.; … - 2006
Persistent link: https://www.econbiz.de/10003339875
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Capital Gains Taxes and Asset Prices : Capitalization or Lock-In?
Dai, Zhonglan - 2012
equilibrium approach that considers both demand and supply responses. We demonstrate that the equilibrium impact of capital gains ….e., capital gains taxes decrease supply). Depending on time periods and stock characteristics, either effect may dominate. Using …This paper examines the impact on asset prices from a reduction in the long-term capital gains tax rate using an …
Persistent link: https://www.econbiz.de/10012755509
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Capital Gains Taxes and Asset Prices : Capitalization or Lock-In?
Dai, Zhonglan - 2006
equilibrium approach that considers both demand and supply responses. We demonstrate that the equilibrium impact of capital gains ….e., capital gains taxes decrease supply). Depending on time periods and stock characteristics, either effect may dominate. Using …This paper examines the impact on asset prices from a reduction in the long-term capital gains tax rate using an …
Persistent link: https://www.econbiz.de/10012466323
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Convertible securities and venture capital finance
Schmidt, Klaus M. - 1999
This paper offers a new explanation for the prevalent use of convertible securities in venture capital finance …
Persistent link: https://www.econbiz.de/10009781712
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Warum begeben Unternehmen Wandelanleihen?
Drobetz, Wolfgang; Grüninger, Matthias C.; Wöhle, … - 2006 - Version: 24. Juli 2006
Der vorliegende Beitrag stellt die Ergebnisse einer Fragebogenuntersuchung unter deutschen, schweizerischen und österreichischen börsenkotierten Unternehmen über deren Motive zur Emission von Wandelanleihen vor. Die Antworten der Unternehmen bestätigen die Backdoor- Equity-Hypothese, wonach...
Persistent link: https://www.econbiz.de/10011570304
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Determinants of the Issuance of Put/Call convertibles in the non-financial sector of the US market
Kaźmierczak, Damian; Marszałek, Jakub - In: Comparative economic research : Central and Eastern Europe 17 (2014) 2, pp. 119-137
The aim of this article is to characterize and show the differences between issuers of ordinary convertibles and convertibles with attached put/call provisions (put/call convertibles). The research was carried out on a sample of 379 firms in the US market, outside the financial sector, between...
Persistent link: https://www.econbiz.de/10011861001
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Are CoCo bonds a good substitute for equity? : evidence from European banks
Hau, Harald; Hrasko, Gabriela - 2018
increase their capital buffers – a policy supported by national bank regulators. This paper examines whether the issuance of …
Persistent link: https://www.econbiz.de/10011937107
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Venture capital, convertible securities und die Durchsetzung optimaler Exitregeln
Bascha, Andreas - 1998
Innovative Unternehmensgründungen werden in zunehmendem Maße von Venture Capital (VC) Gesellschaften finanziert, die … Vertragskonditionen von Venture Capital Finanzierungsverträgen als relevant erachtet werden. Zudem wird ein eigener Erklärungsansatz …
Persistent link: https://www.econbiz.de/10010405878
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Bank Dividend Payouts and Contingent Convertible Bond Issuance
Shan, Chenyu - 2018
Contingent convertible bonds (CoCos) are the latest bank capital instruments advocated by the Basel Committee on … bank shareholders have a stronger preference for dividends. CoCo issuance is not related to regulatory capital ratios for …
Persistent link: https://www.econbiz.de/10012931706
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Why Do Firms Issue Convertible Bonds? Evidence from the Field
Dong, Ming - 2017
We conduct interviews with financial managers in Australia, Canada, the U.K., and the U.S. to study the question why companies issue convertible bonds. For the vast majority of the firms, convertible bonds are chosen because managers find straight debt too costly. Convertible bonds are preferred...
Persistent link: https://www.econbiz.de/10012975843