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Yaman gets top award for finance research

July 3, 2008

KALAMAZOO--A professor in Western Michigan University's Haworth College of Business has received an Outstanding Research Award for her single-authored paper.

The award was presented to Dr. Devrim Yaman, associate professor of finance and commercial law, at the 2008 Global Conference on Business and Finance in Costa Rica for her paper "Why Do Firms Make Simultaneous Offerings?"

"I am delighted that Dr. Yaman's research has been recognized by the Global Conference on Business and Finance," says Dr. Judith Swisher, chair of the Department of Finance and Commercial Law. "This award reflects on the high quality of Dr. Yaman's research."

Yaman's research analyzes the motivations of firms that sell convertible bonds and common stock at the same time, also called simultaneous offerings, and the issue costs of these offerings.

According to her research, firms are more likely to make simultaneous offerings when they raise large amounts of capital. By tapping the markets of both convertible bonds and common stock, firms can pay lower interest rates on the bonds issued.

"This is one of the few studies on simultaneous offerings, and it is a part of my ongoing research on security issues," Yaman says. "I am truly honored and delighted to receive this award."

Media contact: Mark Schwerin, (269) 387-8400, mark.schwerin@wmich.edu

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