Turks and Caicos Islands: Article archive
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Capital flows into captive havens: Caribbean jurisdictions do not necessarily see themselves in competition with Bermuda but with the United States and
Roger CrombieIn the world of captive insurance, a number of jurisdictions use the Bermuda model. Now, as captive insurance again bubbles to the top of the corporate agenda, Bermuda should feel flattered as other players are actively growing their captive franchises. More than 70 national and state jurisdictions now offer captive services or plan to...
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Raising Capital Using Monthly Income Preferred Stock: Market Reaction and Implications for Capital Structure Theory
Paul IrvineJames Rosenfeld [*]We examine the impact of selling Monthly Income Preferred Stock (MIPS) on the common share prices of the issuing firms. We find that issuing MIPS to retire preferred stock raises the value of the firm, and that government policy can significantly affect the present value of the tax savings. Using proceeds to retire...
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