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

Joanna Błach () and Gariela Łukasik ()
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Joanna Błach: University of Economics in Katowice
Gariela Łukasik: University of Economics in Katowice

Chapter Chapter 61 in New Trends in Finance and Accounting, 2017, pp 665-675 from Springer

Abstract: 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.

Keywords: Capital structure; Corporate financing decisions; Debt securities; Bond market in Poland (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-49559-0_61

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DOI: 10.1007/978-3-319-49559-0_61

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