Death spiral convertibles

Article Abstract:

A floating-priced convertible, known as death spiral, is an ideal financing instrument for small risky firms, for which agency costs of debt and asymmetric information are large. The results argue that the contract design encourages short-selling by the convertible holders and other professional short-sellers.

Financial markets, Financial instruments

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Earnings expectations, investor trade size and anomalous returns around earnings announcements

Article Abstract:

The decisions by large traders to buy and sell basing on different and sophisticated information and how the small traders ignore future forecasts are explained. A research on the behavior of investors based on Bernard and Thomas theory gives rise to post-earnings announcement drift.

Financial management, Investor relations

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The many facets of privately negotiated stock repurchases

Article Abstract:

The price behavior under the targeted share repurchases during 1984-2001 is examined.

France, Capital Management-Stock Repurchase, Stocks, Stock prices, Stock redemption, Greenmail

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