Effects of dual holders’ bond financing on target firms’ product market competitiveness

Roman Bohdan and Tarun Mukherjee

Finance Research Letters, 2025, vol. 80, issue C

Abstract: Bohdan and Mukherjee (2024) examine why dual holders, hedge funds (HFs), purchase bonds in the companies where they own stocks and find that HFs provide debt funding to enable dual firms to seize investment opportunities otherwise missed due to internal and external capital constraints. The authors underscore that dual firms boost investment efficiency and enhance firm value. This paper explores how dual firms leverage borrowed funds to enhance their investment efficiencies and bolster their competitive edge in the product market.

Keywords: Dual holders; Debt funding by dual holders; Product innovations; Product market competitiveness; Hedge funds (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:80:y:2025:i:c:s1544612325005926

DOI: 10.1016/j.frl.2025.107329

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