This paper shows some efficient and provably-secure convertible undeniable signature schemes (with both selective conversion and all conversion), in the standard model and discrete logarithm setting. They further satisfy unambiguity, which is traditionally required for anonymous signatures. Briefly, unambiguity means that it is hard to generate a (message, signature) pair which is valid for two...

Dividend enhanced convertible stocks (DECS) represent redeemable convertible preferred stocks mandated to convert in four years. DECS are designed to meet the needs of incomeoriented investors, who give up some upside capital appreciation potential over four years in exchange for enhanced preferred dividends. A simple contingent claims pricing model for the valuation of DECS is presented in thi...

This article presents a contingent claim valuation of a callable convertible bond with the issuer’s credit risk. The optimal call, voluntary conversion, and bankruptcy strategies are jointly determined by shareholders and bondholders to maximize the equity value and the bond value, respectively. This model not only incorporates tax benefits, bankruptcy costs, refunding costs, and a call notice ...

When an American warrant or a convertible bond is called by its issuer, the holder is usually given a notice period to decide whether to sell the derivative back to the issuer at the call price or to exercise the conversion right. Several earlier papers have shown that such notice period requirement may substantially affect the optimal call policy adopted by the issuer. In this paper, we perfor...

An authenticated encryption allows the specific recipient to verify the authenticity while recovering the message. To protect the recipient’s interest in case of a later dispute, a convertible authenticated encryption scheme allows the specific recipient to retrieve an authenticated cipher text and convert the authenticated ciphertext into an ordinary signature so that it becomes publicly verif...

We argue that convertible securities can better attract investors with different beliefs on the firm’s future cash flows compared to straight bond and stock. We find that a firm is more likely to issue convertibles rather than stock and straight bond when investors are more heterogeneous in their beliefs. We also find that the positive impact of heterogeneous beliefs on the likelihood of a conv...

Entanglement bits or " ebits " have been proposed as a quantitative measure of a fundamental resource in quantum information processing. For such an interpretation to be valid, it is important to show that the same number of ebits in different forms or concentrations are inter-convertible in the asymp-totic limit. Here we draw attention to a very important but hitherto unnoticed aspect of entan...

A digital road map is a representation of a physical road network that can be displayed or analyzed by a digital computer. Figure 1 shows a road map and its graph representation. Road intersections are often modeled as vertices and the road segments are connecting adjacent intersections represented as edges in the graph. For example, the intersection of ‘SE 5th Ave’ and ‘SE University Ave’ is m...

Group undeniable signatures are like ordinary group signatures except that verifying signatures needs the help of the group manager. In this paper, we propose a convertible group undeniable signature scheme in which the group manager can turn all or selective signatures, which are originally group undeniable signatures, into ordinary group signatures without compromising security of the secret ...