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Investor demand for convertible debt may change over time, due to changes in investor tastes and/or in funds available for convertible investment. We examine whether security-issuing firms cater to temporal fluctuations in investor demand for convertible debt. We find that investor demand...
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In this paper, we analyse the determinants of success for 630 ICOs performed between August 2015 and December 2017. We find evidence that ICOs are more successful in raising funding when they disclose more information to investors (i.e. have higher transparency rating), have a higher quality...
Persistent link: https://www.econbiz.de/10012911157
Convertible debt represents an important source of financing for U.S. companies. We examine whether convertible bond issuance activity is influenced by changes in investor demand for convertible debt. We find that investor demand proxies are able to explain approximately one-third of the...
Persistent link: https://www.econbiz.de/10013146858
This paper investigates the timing of a firm's first security issue in public capital markets. We explain fluctuations over time in initial public offerings of bonds and stocks. We study Belgium in the period 1839-1935, a setting with poor investor protection, no tax distortions and changing...
Persistent link: https://www.econbiz.de/10012827215
Do reputational concerns of financial intermediaries dampen credit booms and busts? Does this hold in the context of mortgage-backed securities? During a credit boom revolving around the securitization of West-Indian plantation-mortgages in the 1760s, high-reputation underwriters virtually...
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