Journal of Risk Model Validation

Review, theory and implementation of convertible bonds for commercial investment

Raj Kunwar, Zhihui Yang, Jonathan Lai and Jerrold Cline


This technical paper provides a comprehensive literature review of the convertible bond model, as well as discussing the theory behind it and its validation. The authors analyze several different deal terms of a chosen convertible bond in order to value the embedded optionality of the convertible bond and systematically carry out the model validation of a convertible bond model for commercial investment purposes.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here