Journal of Financial and Quantitative Analysis Vol. 16 No. 4 1981
Discussion: On the Pricing of Preferred Stock
Abstract
Professors Sorensen and Hawkins (hereafter SH) have utilized regression analysis to examine the pricing of preferred stocks both before and after a particular event. This event, the NAIC event, occurred in 1979 when the National Association of Insurance Commissioners (NAIC) adopted a rule permitting insurance companies to carry sinking fund preferred issues at book value rather than at the market value required before. SH results indicate nine to 12 variables have a significant effect on the pricing of preferred stock.
- DOI
- 10.2307/2330372
- Volume
- 16
- Issue
- 4
- Pages
- 529
- Sources
- openalex crossref