2015
DOI: 10.1080/00036846.2015.1031871
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Convertible bonds issued in the bear market period: evidence from Taiwan

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Cited by 6 publications
(4 citation statements)
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References 32 publications
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“…Second, we confirm that firms with a low pledge ratio, a small board size, a low debt ratio, a high asset turnover ratio, and large firm scales would have high OB-ratios. These findings are consistent with the relevant literature (Barton & Simko, 2002;Cai & Zhang, 2011;Chiang, Chung, & Huang, 2015;Claessens, Djankov, Fan, & Lang, 2002;Eisenberg, Sundgren, & Wells, 1998;Lee & Yeh, 2004;Linsmeier, 2016;Ni & Huang, 2015;O'Connell & Cramer, 2010;Unda, 2015).…”
Section: Introductionsupporting
confidence: 93%
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“…Second, we confirm that firms with a low pledge ratio, a small board size, a low debt ratio, a high asset turnover ratio, and large firm scales would have high OB-ratios. These findings are consistent with the relevant literature (Barton & Simko, 2002;Cai & Zhang, 2011;Chiang, Chung, & Huang, 2015;Claessens, Djankov, Fan, & Lang, 2002;Eisenberg, Sundgren, & Wells, 1998;Lee & Yeh, 2004;Linsmeier, 2016;Ni & Huang, 2015;O'Connell & Cramer, 2010;Unda, 2015).…”
Section: Introductionsupporting
confidence: 93%
“…From the shareholding viewpoint, Bauguess, Moeller, Schlingemann, and Zutter (2009) point out that firm performance would be enhanced for the firms whose directors with higher shareholding are also in charge of business affairs. Ni and Huang (2015) disclose that corporate governance is likely to worse for the firms issuing convertible bonds, as disclosed by the decline in the directors' shareholding ratio. However, directors with high pledge ratio might not be regarded as a positive signal.…”
Section: Stock Price Overshooting Informativeness and Board Structurementioning
confidence: 99%
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“…Hundta, Sprungk, and Horscha (2017) find that convertible bonds react more debt‐likely, announcing a credit rating change in the European market. Nia and Huang (2015) find that firms issuing convertible bonds with low directors' holding ratio and high debt ratio suggest that corporate governance was lacking in the firms that issued convertible bonds. Kim and Han (2019) find that convertible bond issues have positive cumulative abnormal returns around the announcement in Korea, indicating that the critical factors of convertible bond announcement effects are related to capital expenditure and the asymmetric information role from investment opportunities.…”
Section: Literature Reviewmentioning
confidence: 99%