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Discussion: Analyzing Convertible Bonds

Published online by Cambridge University Press:  06 April 2009

Stephen M. Schaefer
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Extract

The valuation of realistically complicated corporate liabilities is arguably one of the most exciting fields in finance today. It is exciting because it seems quite feasible that what was once a somewhat esoteric body of theory may soon be a viable method of valuing actual securities of many kinds. (This promise was, of course, clearly seen at the outset by both Black and Scholes and Merton in their respective seminal papers.)

Information

Type
The Term Structure of Interest Rates and the Pricing of Fixed Rate Securities
Information
Journal of Financial and Quantitative Analysis , Volume 15 , Issue 4 , November 1980, pp. 931 - 932
Copyright
Copyright © School of Business Administration, University of Washington 1980

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References

1 See Brennan, M. J. and Schwartz, E. S., “Conditional Predictions of Bond Prices and Returns,” Journal of Finance, Vol. 35, No. 2 (05 1980), pp. 404–417.CrossRefGoogle Scholar