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Pricing in the New Issue Convertible Debt Market

Gordon J. Alexander and Roger D. Stover
Financial Management
Vol. 6, No. 3 (Autumn, 1977), pp. 35-39
Published by: Wiley on behalf of the Financial Management Association International
Stable URL: http://www.jstor.org/stable/3665254
Page Count: 5
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Pricing in the New Issue Convertible Debt Market
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Abstract

This paper uses the Capital Asset Pricing Model to test for possible underpricing in the convertible debt market. The returns on a sample of both convertible debentures and their underlying common stocks are analyzed over consecutive time periods immediately following the offering date.

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