Thesis (doctoral)--Friedrich-Alexander-Universität zu Erlangen.

Thesis (doctoral)--Universität zu Köln, 1941. / Includes bibliographical references (p. v-vi).

Thesis (Ph.D.) -- University of Texas at Dallas, 2006. / Includes vita. Includes bibliographical references (leaves 91-95)

Thesis (Ph. D.)--University of Wisconsin--Madison, 1970. / Typescript. Vita. Description based on print version record. Includes bibliographical references.

Thesis (Ph. D.)--University of Wisconsin--Madison, 1969. / Typescript. Vita. Includes bibliographical references.

Thesis (Ph. D.)--University of Wisconsin--Madison, 1969. / Typescript. Vita. eContent provider-neutral record in process. Description based on print version record. Includes bibliography.

Thesis (Ph. D.)--University of Missouri-Columbia, 2002. / Typescript. Vita. Includes bibliographical references (leaves 199-206). Also available on the Internet.

Thesis (Ph. D.)--University of Missouri-Columbia, 2002. / Typescript. Vita. Includes bibliographical references (leaves 199-206). Also available on the Internet.

This dissertation is a comprehensive study of convertible-preferred-stock pricing and performance following issuance. It is the first major academic study that identifies significant abnormal performance of corporate contingent claims following issuance. The research utilizes both option-based contingent claims valuation models and econometric techniques to investigate the sources of superior investment performance of convertible securities as an asset class that has persisted for the past thirty years. Two main issues are examined: potential underpricing of convertible preferred stocks at issuance and their subsequent investment performance. Underpricing is examined based on a robust contingent-claims valuation model. Using two samples of convertible preferred stock offerings (24 issues, 12,051 observations and 69 issues, 28,831 observations respectively), the study provides evidence of statistically and economically significant underpricing at issuance that ranges from 2.9% to 1.4% and persists from the first day of convertible trading up to six months following issuance. Underpricing is invariant to convertible ratings and the exchange where the issues are traded. It is found, however, that, large and mid cap issues are more likely to be underpriced than small cap convertibles. Also, the offerings that are underwritten by non-reputable investment bankers are more likely to be underpriced than those underwritten by reputable investment bankers.

This study provides information about convertible preferreds generally and, in particular, those used in financing mergers during the period 1968-1984. Specifically, the following topics are examined: (1) traditional corporate motives for the use of convertible preferreds as a financing means in mergers and acquisitions, (2) annual data about convertible preferreds' issuance by volume and purpose for the period 1968-1984, (3) average annual returns of merger-related convertible preferreds and average annual returns of common stock of the same companies for the period 1968-1980, (4) performance of convertible preferreds in relation to the market in general, and (5) the future of convertible preferreds as a financing instrument in merger activity.