University Library
  • Login
A gateway to Melbourne's research publications
Minerva Access is the University's Institutional Repository. It aims to collect, preserve, and showcase the intellectual output of staff and students of the University of Melbourne for a global audience.
View Item 
  • Minerva Access
  • Business & Economics
  • Finance
  • Finance - Research Publications
  • View Item
  • Minerva Access
  • Business & Economics
  • Finance
  • Finance - Research Publications
  • View Item
JavaScript is disabled for your browser. Some features of this site may not work without it.

    The fluctuating maturities of convertible bonds

    Thumbnail
    Citations
    Altmetric
    Author
    Verwijmeren, P; Yang, A
    Date
    2020-06-01
    Source Title
    Journal of Corporate Finance
    Publisher
    Elsevier
    University of Melbourne Author/s
    Verwijmeren, Patrick
    Affiliation
    Finance
    Metadata
    Show full item record
    Document Type
    Journal Article
    Citations
    Verwijmeren, P. & Yang, A. (2020). The fluctuating maturities of convertible bonds. Journal of Corporate Finance, 62, https://doi.org/10.1016/j.jcorpfin.2020.101576.
    Access Status
    This item is embargoed and will be available on 2022-06-01
    URI
    http://hdl.handle.net/11343/258569
    DOI
    10.1016/j.jcorpfin.2020.101576
    Abstract
    The maturities of newly issued convertible bonds vary substantially over time. Firm-specific determinants of maturity from the straight debt literature are relevant for convertible bonds. However, the growth of the convertible arbitrage industry and the role of convertible arbitrage hedge funds have changed the importance of firm characteristics in the convertible bond market. Recently issued convertible bonds come with particularly short maturities that serve as substitutes for call provisions. This substitution implies that backdoor-equity and sequential-financing rationales for issuing callable convertible bonds are also applicable for non-callable convertibles with shorter maturities.

    Export Reference in RIS Format     

    Endnote

    • Click on "Export Reference in RIS Format" and choose "open with... Endnote".

    Refworks

    • Click on "Export Reference in RIS Format". Login to Refworks, go to References => Import References


    Collections
    • Minerva Elements Records [45770]
    • Finance - Research Publications [121]
    Minerva AccessDepositing Your Work (for University of Melbourne Staff and Students)NewsFAQs

    BrowseCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsThis CollectionBy Issue DateAuthorsTitlesSubjects
    My AccountLoginRegister
    StatisticsMost Popular ItemsStatistics by CountryMost Popular Authors