Pricing convertible bonds
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Banking and Finance"
DOI: 10.1016/j.jbankfin.2018.05.006
Abstract: Convertible bonds are an important segment of the corporate bond market although their pricing is compromised by the presence of complex option features and difficulty in measuring the risk factors needed as inputs to standard… read more here.
Keywords: pricing convertible; convertible bonds; finance;
The agency of CoCos: Why contingent convertible bonds are not for everyone
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Financial Intermediation"
DOI: 10.1016/j.jfi.2020.100882
Abstract: Abstract Some regulators grant contingent convertible bonds (CoCos) the status of “going-concern” capital. Theory, however, suggests that CoCos can induce debt overhang, thereby amplifying the leverage ratchet effect. In this paper, we provide empirical evidence… read more here.
Keywords: bonds everyone; cocos contingent; agency cocos; contingent convertible ... See more keywords