Duca, Eric; Dutordoir, Marie; Veld, Chris; Verwijmeren, … - In: Journal of Banking & Finance 36 (2012) 11, pp. 2884-2899
While convertible offerings announced between 1984 and 1999 induce average abnormal stock returns of −1.69%, convertible announcement effects over the period 2000–2008 are more than twice as negative (−4.59%). We hypothesize that this evolution is attributable to a shift in the convertible...