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Preferred stocks

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FP Equities: Preferreds & Derivatives presents a wealth of information sorted and rated for easy access.

Preferred stocks. --- Stock warrants. --- Canada.

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This paper is a cross-sectional analysis of the relationship between common stock price reactions to announcements of convertible security calls and variables that represent possible determinants of changes in common stockholders' wealth. The variables are measures of the following effects of convertible security calls: (1) the change in interest expense tax shields, (2) the potential redistribution of wealth from common stockholders to preferred stockholders and debt holders,(3) the decrease in the value of conversion privileges heldby convertible security holders, (4) the relative increase in shares outstanding and (5) the change in earnings per share. A significant relationshipis found only between the measure of the reduction in interest expense tax shields and the stock price response to call announcements.The apparent corporate tax effect is consistent with some combination of effects due to (1) a reduction in interest expense tax shields and (2) unfavorable information about the calling firm's value of earnings prospects that is conveyed by a call of convertible securities.The evidence is consistent with theories of capital structure that imply optimal financial leverage depends on earnings prospects and with theories that imply reductions in leverage convey unfavorable information about firm value.

Capital --- Convertible preferred stocks. --- Mathematical models.

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Financial law --- Convertible bonds --- Convertible preferred stocks --- Option (Contract)

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"The definitive guide to reduced-risk investing in the $450 billion convertible securities market From Advent Capital Management-one of the world's top experts on convertible securities-Convertible Securities describes the mechanics and behavior of convertible securities in comprehensive yet easy-to-understand language. Written for discerning investors as well as corporate CFOs and Treasurers seeking quantitative insights and theories presented in a methodical and understandable format using recent and relevant examples. The book explains the mathematical underpinnings of convertible securities and provides thorough analyses of convertibles from every angle-including those of various types of investors and issuers and numerous related disciplines (tax, performance analysis, accounting, risk management, etc.). Specific topics include: Unique and Valuable Features in Convertible Bonds and Preferreds How Savvy Investors Use Convertibles in their Portfolios How CFOs Optimize Corporate Capital Structures with Convertibles Valuation & Quantitative Properties of Convertibles Investment Behavior Asset Allocation Models Convertible Bonds for Related Professions Practical Considerations for Allocators-and much more!"--

Convertible securities. --- Convertible preferred stocks. --- Convertible bonds. --- Portfolio management. --- Investment management --- Investment analysis --- Investments --- Securities --- Bonds, Convertible --- Convertibles (Bonds) --- Liquid yield option notes --- Bonds --- Convertible securities --- Preferred stocks, Convertible --- Stocks, Convertible --- Preferred stocks --- Hybrid securities --- Hybrid instruments (Securities)