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New Evidence on the Stock Price Reaction Following Convertible Bond Issuance Announcements in Japan

This study examines the stock market reaction to new convertible bond (CB) issuing firms in Japan during the period 2009 to 2013. The evidence suggests that issuing firms experience significantly negative abnormal following the announcement dates. The relationship between certain firm characteristics and magnitude of market reaction is also studied. Firm size, leverage and book-to-market ratios are found to have no association with abnormal return following a CB announcement.

Identiferoai:union.ndltd.org:CLAREMONT/oai:scholarship.claremont.edu:cmc_theses-2225
Date01 January 2015
CreatorsYoshida, Aki-joe
PublisherScholarship @ Claremont
Source SetsClaremont Colleges
Detected LanguageEnglish
Typetext
Formatapplication/pdf
SourceCMC Senior Theses
Rights@ 2015 Aki-Joe Yoshida, default

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