Valuation Of Convertible Bonds When Investors Act Strategically
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Valuation Of Convertible Bonds When Investors Act Strategically
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Author : Christian Koziol
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Valuation Of Convertible Bonds When Investors Act Strategically written by Christian Koziol and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Christian Koziol shows that various conversion strategies for convertible bonds can be optimal which result in different values for stocks and convertible bonds. A comparative static analysis examines the differences between the properties of the optimal conversion strategies and between the asset values for three conversion variants.
The Handbook Of Convertible Bonds
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Author : Jan De Spiegeleer
language : en
Publisher: John Wiley & Sons
Release Date : 2011-07-07
The Handbook Of Convertible Bonds written by Jan De Spiegeleer and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-07 with Business & Economics categories.
This is a complete guide to the pricing and risk management of convertible bond portfolios. Convertible bonds can be complex because they have both equity and debt like features and new market entrants will usually find that they have either a knowledge of fixed income mathematics or of equity derivatives and therefore have no idea how to incorporate credit and equity together into their existing pricing tools. Part I of the book covers the impact that the 2008 credit crunch has had on the markets, it then shows how to build up a convertible bond and introduces the reader to the traditional convertible vocabulary of yield to put, premium, conversion ratio, delta, gamma, vega and parity. The market of stock borrowing and lending will also be covered in detail. Using an intuitive approach based on the Jensen inequality, the authors will also show the advantages of using a hybrid to add value - pre 2008, many investors labelled convertible bonds as 'investing with no downside', there are of course plenty of 2008 examples to prove that they were wrong. The authors then go onto give a complete explanation of the different features that can be embedded in convertible bond. Part II shows readers how to price convertibles. It covers the different parameters used in valuation models: credit spreads, volatility, interest rates and borrow fees and Maturity. Part III covers investment strategies for equity, fixed income and hedge fund investors and includes dynamic hedging and convertible arbitrage. Part IV explains the all important risk management part of the process in detail. This is a highly practical book, all products priced are real world examples and numerical examples are not limited to hypothetical convertibles. It is a must read for anyone wanting to safely get into this highly liquid, high return market.
Low Risk High Performance Investing With Convertible Bonds
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Author : Jeffrey Joel Pritchard
language : en
Publisher:
Release Date : 1990
Low Risk High Performance Investing With Convertible Bonds written by Jeffrey Joel Pritchard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Business & Economics categories.
The Valuation Of Convertible Bonds Classic Reprint
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Author : Otto H. Poensgen
language : en
Publisher: Forgotten Books
Release Date : 2017-10-28
The Valuation Of Convertible Bonds Classic Reprint written by Otto H. Poensgen and has been published by Forgotten Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-28 with Business & Economics categories.
Excerpt from The Valuation of Convertible Bonds Convertible Bonds are bonds that are convertible into another security at the option of the holder subject to conditions specified in the indenture, For our paper we will restrict the term 'convertible' to mean exchangeable for 'the common stock of the issuing corporation.' The restriction is not a stringent one: the author in examining publicly traded bonds issued between 1948 and 1963 by companies that are traded on an organized stock exchange (or over the counter) found no bonds which were excluded by that definition. The vast majority of nation-wide traded convertible bonds is not only unsecured, but even subordinated to prior or even after-acquired debt. Deducing from cum hoc to ergo propter hoc this has led many writers to state or hypothesize that one of the reasons, if not the principal one, to attach to the bond the convertibility feature was the necessity to have a sweetener make an otherwise unpalatable instrument acceptable to the investor. The conversion price indicates how many dollars of face value must be given up at conversion for each common share. Occasionally, we find a conversion ratio instead, stating into how many shares one debenture of $1,000. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Convertible Securities The Latest Instruments Portfolio Strategies And Valuation Analysis Revised Edition
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Author : John P. Calamos
language : en
Publisher: McGraw Hill Professional
Release Date : 1998-06-22
Convertible Securities The Latest Instruments Portfolio Strategies And Valuation Analysis Revised Edition written by John P. Calamos and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-06-22 with Business & Economics categories.
The definitive book on the subject, Convertible Securities explains the various types of convertible instruments, valuation and pricing methods, and investment strategies. Completely updated from its first edition, this guide includes chapters on international convertibles and asset allocation strategies for the institutional investor.
Convertible Securities A Complete Guide To Investment And Corporate Financing Strategies
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Author : Tracy V Maitland
language : en
Publisher: McGraw-Hill Education
Release Date : 2022-03-08
Convertible Securities A Complete Guide To Investment And Corporate Financing Strategies written by Tracy V Maitland and has been published by McGraw-Hill Education this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-08 with Business & Economics categories.
The definitive guide to reduced-risk investing in the $450 billion convertible securities market From Advent Capital Management—one of the world’s top experts on convertible securities—Convertible Securities describes the mechanics and behavior of convertible securities in comprehensive yet easy-to-understand language. Written for discerning investors as well as corporate CFOs and Treasurers seeking quantitative insights and theories presented in a methodical and understandable format using recent and relevant examples. The book explains the mathematical underpinnings of convertible securities and provides thorough analyses of convertibles from every angle—including those of various types of investors and issuers and numerous related disciplines (tax, performance analysis, accounting, risk management, etc.). Specific topics include: •Unique and Valuable Features in Convertible Bonds and Preferreds •How Savvy Investors Use Convertibles in their Portfolios •How CFOs Optimize Corporate Capital Structures with Convertibles •Valuation & Quantitative Properties of Convertibles •Investment Behavior •Asset Allocation Models •Convertible Bonds for Related Professions •Practical Considerations for Allocators—and much more!
Albania Business Law Handbook Volume 1 Strategic Information And Basic Laws
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Author : IBP, Inc.
language : en
Publisher: Lulu.com
Release Date : 2015-06
Albania Business Law Handbook Volume 1 Strategic Information And Basic Laws written by IBP, Inc. and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06 with Business & Economics categories.
Albania Business Law Handbook Volume 1 Strategic Information and Basic Laws
Albania Business Law Handbook Volume 1 Strategic Information And Basic Laws
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Author : IBP USA
language : en
Publisher: Lulu.com
Release Date : 2013-08
Albania Business Law Handbook Volume 1 Strategic Information And Basic Laws written by IBP USA and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08 with Business & Economics categories.
Albania Business Law Handbook - Strategic Information and Basic Laws
Venerzuela Doing Business And Investing In Venezuela Guide Volume 1 Strategic And Practical Information
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Author : IBP, Inc.
language : en
Publisher: Lulu.com
Release Date : 2015-02-16
Venerzuela Doing Business And Investing In Venezuela Guide Volume 1 Strategic And Practical Information written by IBP, Inc. and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-16 with Business & Economics categories.
2011 Updated Reprint. Updated Annually. Doing Business and Investing in Venezuela Guide
Armenia Investment Trade Laws And Regulations Handbook Volume 1 Strategic Information And Regulations
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Author : IBP, Inc.
language : en
Publisher: Lulu.com
Release Date : 2015-02-06
Armenia Investment Trade Laws And Regulations Handbook Volume 1 Strategic Information And Regulations written by IBP, Inc. and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-06 with Business & Economics categories.
2011 Updated Reprint. Updated Annually. Armenia Investment and Trade Laws and Regulations Handbook