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THE USES OF HYBRID DEBT IN MANAGING CORPORATE RISK

THE USES OF HYBRID DEBT IN MANAGING CORPORATE RISK Footnotes 1 . The date for the introduction of convertible bonds is reported by Peter Tufano in “ Financial Innovation and First‐Mover Advantages ,” Journal of Financial Economics , 25 , pp. 213 – 240 . 2 . December 26, 1991, p. C1. The Journal article dealt more with exchange traded products than with hybrids. LYON TM is a trademark of Merrill Lynch & Co. 3 . For preliminary evidence of the impact of issuing hybrid debt on the firm's cost of capital, see Charles Smithson and Leah Schraudenbach, “Reflection of Financial Price Risk in the Firm's Share Price,” Chase Manhattan Bank, 1992. 4 . Waite Rawls and Charles Smithson, “The Evolution of Risk Management Products,” Journal of Applied Corporate Finance , Vol. 1 No. 4 (1989). 5 . See J. Huston McCulloch , “ The Ban on Indexed Bonds ,” American Economic Review 70 December 1980 ), pp. 1018 – 21 . 6 . See Merton Miller's account of financial innovation in the 1920s and 1930s in the first article of this issue. 7 . European options can be exercised only at maturity, as distinguished from American options, which can be exercised any time before expiration. 8 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Applied Corporate Finance Wiley

THE USES OF HYBRID DEBT IN MANAGING CORPORATE RISK

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References (4)

Publisher
Wiley
Copyright
Copyright © 1992 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1078-1196
eISSN
1745-6622
DOI
10.1111/j.1745-6622.1992.tb00218.x
Publisher site
See Article on Publisher Site

Abstract

Footnotes 1 . The date for the introduction of convertible bonds is reported by Peter Tufano in “ Financial Innovation and First‐Mover Advantages ,” Journal of Financial Economics , 25 , pp. 213 – 240 . 2 . December 26, 1991, p. C1. The Journal article dealt more with exchange traded products than with hybrids. LYON TM is a trademark of Merrill Lynch & Co. 3 . For preliminary evidence of the impact of issuing hybrid debt on the firm's cost of capital, see Charles Smithson and Leah Schraudenbach, “Reflection of Financial Price Risk in the Firm's Share Price,” Chase Manhattan Bank, 1992. 4 . Waite Rawls and Charles Smithson, “The Evolution of Risk Management Products,” Journal of Applied Corporate Finance , Vol. 1 No. 4 (1989). 5 . See J. Huston McCulloch , “ The Ban on Indexed Bonds ,” American Economic Review 70 December 1980 ), pp. 1018 – 21 . 6 . See Merton Miller's account of financial innovation in the 1920s and 1930s in the first article of this issue. 7 . European options can be exercised only at maturity, as distinguished from American options, which can be exercised any time before expiration. 8

Journal

Journal of Applied Corporate FinanceWiley

Published: Jan 1, 1992

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