在中国发行可转换债券会增加公司价值吗？- 来自境内和境外发行的证据

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-02-16 DOI:10.1016/j.frl.2025.106989

Vipul Kumar Garg, Sowmya Subramaniam

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Do convertible bond issuances increase the firm value in China? – Evidence from domestic and offshore issuances

This study examines the relationship between convertible bond issuances and firm value in China, distinguishing between domestic and offshore issuances. The study found compelling evidence that convertible issuances enhance the firm value. While offshore convertible bond issuance positively impacts firm value, its effect is less in comparison with domestic issuances. The issuance of convertible bonds by firms with higher liquidity has a significant impact on firm value.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance