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Pricing the strategic value of putable securities in liquidity crises

Article Abstract:

Security holders with put options have first claim on liquid assets of the firm as well as the power to force solvent issuers to bear financial distress costs. The put options have a greater strategic value than their intrinsic value.

Author: David, Alexander
Publisher: Elsevier B.V.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2001
Public Finance Activities, Securities Taxes, Options (Finance), Liquidity (Finance)

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Discretionary reductions in warrant exercise prices

Article Abstract:

A reduction in exercise price by managers of a firm induces either a conversion-forcing reduction which results in good performance three years following its announcement, or a long-term reduction, which doesn't perform as well.

Author: Howe, John S., Su, Tie
Publisher: Elsevier B.V.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2001
Financial management, Stocks, Stock warrants

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Control as a motivation for underpricing: a comparison of dual and single-class IPOs

Article Abstract:

A comparative finding of dual and single-class initial public offerings (IPOs) is illustrated. Several hypotheses for underpricing of dual-class firms are explored.

Author: Smart, Scott B., Zutter, Chad J.
Publisher: Elsevier B.V.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2003
Science & research, Models, Economic research, Going public (Securities), Initial public offerings, Company public offering

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Subjects list: Statistical Data Included, Research, United States, Securities, Bonds, Bonds (Securities), Evaluation
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