A Study on the Investment Performance of the Discounted Unsecured Convertible Bonds in Taiwan
碩士 === 國立中央大學 === 財務金融學系碩士在職專班 === 95 === We study all unsecured convertible bonds in Taiwan from 1990 to 2006 and evaluate the performance of those which the price discount appears in the period of 3 to 24 months before being sold back. Based on our final sample, we find that the overall profit of...
| Main Authors: | , |
|---|---|
| Other Authors: | |
| Format: | Others |
| Language: | zh-TW |
| Published: |
2007
|
| Online Access: | http://ndltd.ncl.edu.tw/handle/22911474698206009242 |
| Summary: | 碩士 === 國立中央大學 === 財務金融學系碩士在職專班 === 95 === We study all unsecured convertible bonds in Taiwan from 1990 to 2006 and evaluate the performance of those which the price discount appears in the period of 3 to 24 months before being sold back. Based on our final sample, we find that the overall profit of non-default unsecured onvertible bonds is significantly higher than the loss caused by the default counterparts. The results show that, in spite of the risk of unpaid principle and interest involved in unsecured convertible bonds, the performance of discounted unsecured convertible bonds still yields considerable profit.
|
|---|