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Title:Investitionen und Emissionen von Convertible Bonds (Wandelanleihen) PDF Logo
Authors:Heidorn, Thomas
Gerhold, Mirko
Issue Date:2004
Series/Report no.:Arbeitsberichte der Hochschule für Bankwirtschaft 50
Abstract:Convertible bond issues increase considerably since 1990. The paper shows that these issues are more than just the combination of a bond and an option. The pricing depends on the share price, the shares volatility, the interest rate, and the interest volatility , the credit spread, and the correlation among them. Convertibles are especially helpful for non rated or low rated companies. The information asymmetry between management and investor can be considerably reduced compared to bond or share issues.
Subjects:hybrids
convertible arbitrage
hedge fonds
issue of convertibles
investing in convertibles
JEL:G12
Persistent Identifier of the first edition:urn:nbn:de:101:1-2008072222
Document Type:Working Paper
Appears in Collections:Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management

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