The Valuation of Convertible Bonds (Classic Reprint) - Softcover

Inhaltsangabe

Understand how investors price convertible bonds by weighing risk, returns, and market signals. This book presents a rigorous look at how different risk measures shape option values and required returns. It explains how moments like variance, skewness, and kurtosis are used to explain prices and to test portfolio efficiency, using convertible bonds as the focus.

- Learn why simple value estimates often miss key risks and how higher moments improve explanations of option prices.
- See how regression models use risk measures to connect stock growth, volatility, and market factors to investor demands.
- Explore how past growth, stock volatility, and issue timing influence the price of the conversion option.
- Understand how researchers test claims against real data from bonds issued over several decades.

Ideal for readers of finance, fixed-income markets, and investment analysis seeking a deeper view of convertible bond valuation.

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