NEW EVIDENCE ON THE MARKET IMPACT OF CONVERTIBLE BOND ISSUES IN THE U. S.
作者： Bala Arshanapalli , Lorne N. Switzer , Frank J. Fabozzi , Guillaume Gosselin
DOI: 10.2139/SSRN.492803
关键词:
摘要: This study provides new evidence on the market impact of issues convertible bonds U.S. listed firms. We examine reaction surrounding announcement dates and issue bonds. The suggests that firms experience negative abnormal returns around Abnormal are found to be a function firm value, price-to-book ratio, size, as well state overall market. Simulations using arbitrage strategies investors could take advantage these by going long firm's bond short stock at date.
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