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A re-examination of the case for accounting separately for the debt and equity features of convertible debt.

Record type: Article

The case for accounting separately for the debt and equity features of a convertible bond is based on two main assumptions: convertible debt can be decomposed into two, or more, fundamental financial instruments, and a convertible bond has the same economic substance as a bond with a detachable warrant. These assumptions are re-examined in this paper where it is shown that it is generally not possible to decompose a convertible bond into fundamental financial instruments, nor is it possible to form a package of a bond and a detachable warrant that replicates the character of the convertible bond.

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Citation

Casson, Peter (1998) A re-examination of the case for accounting separately for the debt and equity features of convertible debt. Journal of Business Finance and Accounting, 25, (5&6), pp. 595-612. (doi:10.1111/1468-5957.00203).

More information

Published date: 1998

Identifiers

Local EPrints ID: 36841
URI: http://eprints.soton.ac.uk/id/eprint/36841
ISSN: 0306-686X
PURE UUID: bd6f02b0-dd47-4f10-931a-e0629d8d588d

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Date deposited: 20 Mar 2007
Last modified: 17 Jul 2017 15:43

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Author: Peter Casson

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