碩士 / 國立臺灣大學 / 會計學研究所 / 105 / Under current accounting rules, Convertible Bonds (CBs) are treated as equity while European Convertible Bonds (ECBs) are treated as debt. This study reviews the logic and the theories behind this controversial rule and investigates empirically whether European Convertible Bonds share key characteristics of liabilities or equities. We find evidence that ECBs, similar to CBs, are negatively associated with the common equity risk and expected return, consistent with the notion that the market treated it as equity. The above association still exist for ECBs with repricing clauses.
| Identifer | oai:union.ndltd.org:TW/105NTU05385048 |
| Date | January 2017 |
| Creators | Hsiao-Yun Chang, 張筱筠 |
| Contributors | , 陳坤志, 高偉娟 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 64 |
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