- Tytuł:
-
Charakterystyka emisji obligacji zamiennych z opcją reset
The Characteristics of Resettable Convertible Bonds Issuance - Autorzy:
-
Kaźmierczak, Damian
Marszałek, Jakub - Powiązania:
- https://bibliotekanauki.pl/articles/586880.pdf
- Data publikacji:
- 2014
- Wydawca:
- Uniwersytet Ekonomiczny w Katowicach
- Tematy:
-
Emisja obligacji
Instrumenty dłużne
Instrumenty finansowe
Obligacje zamienne
Bonds issuing
Convertible bonds
Debt instrument
Financial instruments - Opis:
- A possibility of modifying a conversion price or a conversion ratio within a maturity period makes resettable convertible bonds an attractive source of capital. The aim of this article is to present the essence of reset convertibles and to define the premises of their issuance by analyzing previous activities of their issuers. It turns out that a possible motive of using reset convertibles may be a tax optimization, not a willingness to increase the equity during an economic turmoil. They were issued mainly by banks and financial institutions, especially in the countries with a lower level of fiscalism. Furthermore, the highest supply of resettables falls to a period of a market boom (2006-2008), when they seem to be the most beneficial for their issuers.
- Źródło:
-
Studia Ekonomiczne; 2014, 186 cz 2; 198-207
2083-8611 - Pojawia się w:
- Studia Ekonomiczne
- Dostawca treści:
- Biblioteka Nauki
Artykuł