Partially Anticipated Convertible Calls

Ji-chai Lin, K. C. Chen

Research output: Journal article publicationJournal articleAcademic researchpeer-review

1 Citation (Scopus)


This paper derives estimators that measure the impact of foregoing an opportunity to call convertible debt and the call announcement effect on the value of the firm. The results indicate that positive abnormal returns are associated with foregoing a call, and returns are negative upon the announcement of the call. These results are consistent with Harris and Raviv's hypothesis that managers with favorable information delay their calls and will call the debt if and only if their information is unfavorable.
Original languageEnglish
Pages (from-to)501-515
Number of pages15
JournalFinancial Review
Issue number4
Publication statusPublished - 1 Jan 1991
Externally publishedYes

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics


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