Discussion: On the Pricing of Preferred Stock
讨论Sorensen和Hawkins的研究，他们用回归分析考察1979年NAIC规则变化前后优先股定价的影响因素，发现9到12个变量有显著影响。
Professors Sorensen and Hawkins (hereafter SH) have utilized regression analysis to examine the pricing of preferred stocks both before and after a particular event. This event, the NAIC event, occurred in 1979 when the National Association of Insurance Commissioners (NAIC) adopted a rule permitting insurance companies to carry sinking fund preferred issues at book value rather than at the market value required before. SH results indicate nine to 12 variables have a significant effect on the pricing of preferred stock.