and Medians Convertible Debt Issues Straight Debt Issues Equity Issues Mean Median Mean Median Mean Median Excess return -1.51% -1.44% 0.04% -0.18% -2.56% -2.56% Issue proceeds 55.92 35.00 141.42 100.00 48.88 28.50 Market value of equity (MVCS) 512.75 194 (0)

by Panel A Means
Venue:0.04 0.06 0.04 0.05 0.04 Market-to-book 1.58 1.33 1.12 1.00 1.49 1.26 6-month leading indicators 0.01 0.01 -0.01 0.00 0.01 0.01 11-month prior cumulative excess return 18.74% 16.83% -1.56% -6.94% 20.95% 17.84% Beta 1.18 1.14 1.12 1.06 1.25 1.20 Stock retu