๐”– Bobbio Scriptorium
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Optimal bond refunding strategies

โœ Scribed by Wilbur G. Lewellen; Ahron Rosenfeld


Book ID
112142943
Publisher
John Wiley and Sons
Year
1987
Tongue
English
Weight
857 KB
Volume
8
Category
Article
ISSN
0143-6570

No coin nor oath required. For personal study only.


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This article presents a contingent claim valuation of a callable convertible bond with the issuer's credit risk. The optimal call, voluntary conversion, and bankruptcy strategies are jointly determined by shareholders and bondholders to maximize the equity value and the bond value, respectively. Thi