DARPSDifferential Absolute and Relative Positioning Sensor
DARPSDutch Auction Rate Preferred Shares
DARPSDynamic And Relative Positioning System
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The impact of redemption activity on the available supply of limited-purpose subsidiary issues is striking; of the 41 limited-purpose subsidiaries that issued DARPS over the period 1984-1988, 34 had redeemed by the first quarter of 1991.
The purpose of the questionnaire was to enrich the statistical analysis by providing information on the perceptions of financial decision-makers concerning their experiences with the entire process of using DARPS as a financing vehicle.
The survey also asked the respondents to react to the statement that "the increasing yield on DARPS due to rising credit risk was the principal reason for redeeming the security.
Question 6 probed the importance of the reduction in the dividend exclusion with the following statement: "The reduction in the dividends-received deduction made our DARPS issue prohibitively expensive.