Bajaj, Mukesh; Mazumdar, Sumon C.; Sarin, Atulya - In: Journal of Financial Research 25 (2002) 4, pp. 577-592
U.S. firms commonly use preferred stocks to raise external capital. Yet this hybrid security's issuance costs and offer yields have not been previously examined in a systematic manner. We analyze a sample of 3,042 U.S. preferred stocks issued between 1980 and 1999. We find that convertible...
