Showing 1 - 1 of 1
A long-standing puzzle in finance, first noted by Ingersoll (1977b), is that many firms delay the re-call of convertible bonds until the bonds' equity values by far exceed their values as straight debt. Butler (2002) argues that the delay is due to a put option which is granted to investors...
Persistent link: https://www.econbiz.de/10013147810