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An analysis of the wealth effects of japanese offshore dollar-denominated convertible and warrant bond issues

หน่วยงาน Nanyang Technological University, Singapore

รายละเอียด

ชื่อเรื่อง : An analysis of the wealth effects of japanese offshore dollar-denominated convertible and warrant bond issues
นักวิจัย : Kang, Jun-Koo , Kim, Yong-Cheol , Park, Kyung-Joo , Stulz, Rene M.
คำค้น : -
หน่วยงาน : Nanyang Technological University, Singapore
ผู้ร่วมงาน : -
ปีพิมพ์ : 2538
อ้างอิง : Kang, J. -K., Kim, Y. -C., Park, K. -J., & Stulz, R. M. (1995). An analysis of the wealth effects of japanese offshore dollar-denominated convertible and warrant bond issues. Journal of Financial and Quantitative Analysis, 30(2), 257-270. , 0022-1090 , http://hdl.handle.net/10220/18136 , http://www.jstor.org/discover/10.2307/2331120?uid=3738992&uid=2129&uid=2&uid=70&uid=4&sid=21103137623083
ที่มา : -
ความเชี่ยวชาญ : -
ความสัมพันธ์ : Journal of financial and quantitative analysis
ขอบเขตของเนื้อหา : -
บทคัดย่อ/คำอธิบาย :

Offshore dollar-denominated equity-linked issues were a more important source of funds for Japanese companies during the 1980s than domestic equity and straight debt issues combined. Using a sample of Japanese equity-linked offshore issues from 1977 to 1989, we find that the announcement of these issues is accompanied by a significant positive abnormal return. This contrasts with evidence that U.S. equity-linked issues have a significant negative stock price reaction. We provide an explanation for the difference in stock price reactions between U.S. and Japanese issues that is based on the greater influence on managers' security issue decisions of long-term investors and banks in Japan than in the U.S.

บรรณานุกรม :
Kang, Jun-Koo , Kim, Yong-Cheol , Park, Kyung-Joo , Stulz, Rene M. . (2538). An analysis of the wealth effects of japanese offshore dollar-denominated convertible and warrant bond issues.
    กรุงเทพมหานคร : Nanyang Technological University, Singapore.
Kang, Jun-Koo , Kim, Yong-Cheol , Park, Kyung-Joo , Stulz, Rene M. . 2538. "An analysis of the wealth effects of japanese offshore dollar-denominated convertible and warrant bond issues".
    กรุงเทพมหานคร : Nanyang Technological University, Singapore.
Kang, Jun-Koo , Kim, Yong-Cheol , Park, Kyung-Joo , Stulz, Rene M. . "An analysis of the wealth effects of japanese offshore dollar-denominated convertible and warrant bond issues."
    กรุงเทพมหานคร : Nanyang Technological University, Singapore, 2538. Print.
Kang, Jun-Koo , Kim, Yong-Cheol , Park, Kyung-Joo , Stulz, Rene M. . An analysis of the wealth effects of japanese offshore dollar-denominated convertible and warrant bond issues. กรุงเทพมหานคร : Nanyang Technological University, Singapore; 2538.