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The Role of Convertible Bonds in the Corporate Financing: Polish Experience

In: New Trends in Finance and Accounting

Author

Listed:
  • Joanna Błach

    (University of Economics in Katowice)

  • Gariela Łukasik

    (University of Economics in Katowice)

Abstract

The role of bonds in the corporate financial strategy is considered from the point of view of the issuer and investors. This results from the interactions of investment and financing decisions with regard to the level of acceptable risk. The issuer should consider the expectations of investors in order to define properly the terms and conditions of the issue. While investors will evaluate the elements that determine the profitability, risk and liquidity of this form of investment with regard to the structural changes in the company. This paper discusses the importance and potential application of the convertible bonds in the corporate financing decisions. The main aim of this paper is to analyze and evaluate the most important reasons and consequences of the issuance of convertible bonds and their role in the corporate financial strategy. This paper is based on the critical literature review on corporate bonds supported by the analysis of normative regulations and selected empirical data from the Polish financial market.

Suggested Citation

  • Joanna Błach & Gariela Łukasik, 2017. "The Role of Convertible Bonds in the Corporate Financing: Polish Experience," Springer Proceedings in Business and Economics, in: David Procházka (ed.), New Trends in Finance and Accounting, chapter 0, pages 665-675, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-49559-0_61
    DOI: 10.1007/978-3-319-49559-0_61
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    Cited by:

    1. Joseph Adegboyegun, Bolujo, 2019. "The Valuation and Optimal Policies of Puttable Convertible Bonds," Journal of Finance and Accounting Research, University of Management and Technology, Lahore, vol. 1(1), pages 29-33, February.

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