Batten, Jonathan A.; Khaw, Karren Lee-Hwei; Young, Martin R. - In: Journal of Economic Surveys 28 (2014) 5, pp. 775-803
Convertible bonds are an important segment of the corporate bond market, with worldwide outstandings approaching US$235 billion. Simple pricing models value a convertible bond as being equivalent to a straight bond with an embedded option that enables the bond holder to convert to a specific...