Danielova, Anna N.; Smart, Scott B.; Boquist, John - In: Journal of Corporate Finance 16 (2010) 2, pp. 159-169
Debt that is convertible into shares of a company other than the issuer is called exchangeable debt. Most firms that issue exchangeable debt hold large blocks of shares in several companies, and in this paper we study factors that influence the selection of a particular block to serve as the...