An Estimate of Convertible Bond Premiums: Comment

Alan W. Frankle

Journal of Financial and Quantitative Analysis, 1975, vol. 10, issue 2, 369-373

Abstract: Professor Jennings, in his recent article [2], developed a model to estimate convertible bond premiums. The model incorporates the capital asset pricing model to evaluate convertible bonds. The purpose of this comment is not to criticize the general development of the model but to point out flaws in its implementation which influence Jennings' empirical results.

Date: 1975
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