Mandatory Convertibles: An Efficient Form of Capital Issuance

Huerga, Ángel and Rodríguez Monroy, Carlos (2017). Mandatory Convertibles: An Efficient Form of Capital Issuance. In: "Industriales Research Meeting 2017", 4 y 5 de abril de 2017, Madrid, España. ISBN 978-84-16397-58-7. p. 114.

Description

Title: Mandatory Convertibles: An Efficient Form of Capital Issuance
Author/s:
  • Huerga, Ángel
  • Rodríguez Monroy, Carlos
Item Type: Presentation at Congress or Conference (Poster)
Event Title: Industriales Research Meeting 2017
Event Dates: 4 y 5 de abril de 2017
Event Location: Madrid, España
Title of Book: Industriales Research Meeting 2017
Date: 2017
ISBN: 978-84-16397-58-7
Subjects:
Faculty: E.T.S.I. Industriales (UPM)
Department: Ingeniería de Organización, Administración de Empresas y Estadística
Creative Commons Licenses: Recognition - No derivative works - Non commercial

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Abstract

Mandatory Convertibles represent only a small fraction of all the securities issued by corporate or financial institutions, however, they reach nearly a 30% in volume of all the convertible securities issued every year and its popularity increases steadily over time. Mandatory convertibles can reduce the shareholder dilution compared to a straight capital increase. Mandatory convertibles were commonly issued by financial institutions amid the global crisis as a means to increase capital and could be considered as an antecessor of some types of AT1 (Additional Tier One Capital Instruments) and Contingent Convertible Bonds. This research examines the scarce academic literature that studies this very particular security.

More information

Item ID: 50992
DC Identifier: http://oa.upm.es/50992/
OAI Identifier: oai:oa.upm.es:50992
Official URL: https://eventos.upm.es/9491/detail/industriales-research-meeting-irm.html
Deposited by: Memoria Investigacion
Deposited on: 30 Jul 2018 15:48
Last Modified: 30 Jul 2018 15:48
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