convertible bond 中文意思是什麼

convertible bond 解釋
可調換公司債券；可換債券
  • convertible : adj. 1. 可轉換的；可轉變的；可改裝的；可兌換的。2. （汽車）車篷可折起[取掉]的。n. 1. 可改變的事物。2. 敞篷車〈有活動摺篷的汽車〉。adv. -bly
  • bond : n 1 結合（物），結合力，黏合（劑），聯結。2 束縛，羈絆； 〈pl 〉 拘束；鐐，銬。3 契約，契約義務，...
  1. As a new financing instrument, since convertible bond came to the capital market of china, becase of its speclation and investment, it was accepted by government and companies and investors convertible bond may play an important role in broadening enterprises ' financing channels, enrich the variety of investing instruments and make our security market prosperous. csrc has issued the interrelated rules for public firms issue the convertible bonds. until the end of 2001, it has 55 firms plan to issue the the convertible bonds. but by end of 2002 only 5 firms issued the convertible bonds because of investor ' worry. but in 2003, the management strengthens the security market such as some public firms just to " fold money ", the convertible bonds become the most invest tools for the public firms refinance. only if the behavior of issuing convertible bonds is normalized our security market can tend towards a mature way, social capital can be optimized, and the public firms can also develop in an ample area. this paper base on the character of the convertible bonds

    國務院證券委員會在1997年3月25日頒發了《可轉換公司債券暫行管理辦法》 ，又於2001年4月26日頒發了《上市公司發行可轉換公司債券實施辦法》關于可轉換債券的規定和條例，對上市公司發行可轉換公司債券的要求條件比配股、增發更為寬松，截止到2001年4月，有200多家上市公司夠發行可轉換債券資格，到2001年底有55家公司計劃發行可轉換債券，但受到一些上市公司通過配股、增發等「圈錢」的影響，投資者對上市公司通過發行可轉換債券再融資是不得不持審慎態度， 2002年全年僅5家公司實施了可轉換債券，共籌集資金41 . 5億元人民幣，從總體發行情況看，發行規模越來越小，利率越來越高，投資者認可程度越來越低，發行和交易狀況每況愈下。
  2. The appearance of the convertible bond is just to better the function of financial market, so that realize the transformation from the profit person to the deficit person more quickly and more efficiently

    可轉換債券的出現也正是為了更好的發揮金融市場的功能，以便更快、更有效率地實現資金從贏余者向赤字者的轉移。
  3. Convertible bond arbitrage

    可換股債券套戥
  4. Finally, we regard zhaohang convertible bond as demonstrable object, give typical model and pricing result. compared with actual price in the market, we discover the educed conclusion is very good, lastly, we try analyzing the reason why the model can get such good result

    最後，我們在第四章中以招行轉債為實證分析對象，給出具體模型和定價結果，與市場實際價格比較，發現基於montecarlo方法的定價模型得到的結果與市場真實價格相差很小，並分析了得到較好結果的原因。
  5. Convertible bond is a convertible financing tool between bond and stock, convertible bond concurrently have features of bond, stock and option. its issue - clauses include interest rate, convertible ratio and convertible price, convertible date, call provision, put provision, strike - price - adjusted provision etc, convertible bond can reduce corporate financing cost and improve capital structure, investor can share corporate performance and income of convert bond

    可轉換債券是一種介於債券和股票之間的可轉換融資工具，可轉換債券兼具了債券、股票和期權的特徵。可轉換債券發行條款包括票面利率、轉換比率和轉換價格、轉換期、贖回條款、回售條款、向下修正條款及強制轉股條款等等；發行可轉換債券降低了公司融資成本和改善債務結構，投資者可以分享發行人業績增長和股票價格的上漲帶來的轉股收益。
  6. Due to qingdao haier ' s preference for raising fund by issuing new stocks, its capital structure is not reasonable, if it raise fund by convertible bond, it will increase value through tax shield, it will also reduce the agency cost brought about by debt

    採用可轉換債券融資可以利用債務的稅盾作用為公司創造價值，還可以減少債務帶來的代理成本。青島海爾發行可轉換債券必須切實加強管理，使可轉換債券順利轉換。
  7. In the first chapter, we narrate the characteristic of convertible bond, give some clues about development and actuality of the market and its pricing theory ; in the second chapter, we introduce modeling idea and some material problems in the model in detail, draw the yield curve which is very important to the model by spline method ; in the third chapter, we first explain the basic idea and convergent speed of monte carlo method, then, give the mathematical description for financial market, prove equivalence of non - arbitrage market, existence of risk neutral probability measure in the market and the price process of underlying asset is a martingale ; in the forth section, we introduce how to simulate stock price path by monte carlo method in detail, based on foregoing result, we prove the path is a martingale, thereby, the model is logical

    本文第一章先對可轉債的特點、市場發展和現狀及其定價理論的發展和現狀作一概述;第二章詳細介紹了建模思想和模型中的一些具體問題，利用spline方法繪出了在模型中具有重要作用的收益曲線;第三章首先敘述了montecarlo方法的基本思想和有關其收斂速度的一些性質，然後從數學的角度給出了對金融市場的描述，證明了市場無套利、市場存在風險中性概率測度及標的資產價格過程為鞅的等價性;在第四節中，對用montecarlo方法模擬的帶跳股價路徑作了詳細介紹，並利用前兩節的結論證明了模擬的帶跳股價路徑為一個鞅過程，從而保證了模型在理論上的合理性。
  8. A convertible bond is normally composed of a bond, a stock call option, a call, a takeover clause and a put, ect

    可轉換債券的組成包括債券、股票看漲期權、贖回條款、接管條款和其他例如強制回售等條款。
  9. The convertible bond is a derivative securities on the basis of stock and bond. the determination of its price is complicated and difficult because < wp = 7 > of its specific clause stipulation. for example it can be resold can be redeemed within term of validity, and possess the characteristics of multiple option ahead of time etc. actually it was comparatively difficult to price option, so it is almost impossible to fix the price accurately for the convertible bond which includes the multiple option

    可轉換債券是在股票與債券基礎上的衍生證券，它的價格決定更為復雜且難以具體確定，之所以如此，都緣于其特定的條款規定上，比如在有效期內可以< wp = 3 >贖回、可以回售、可以提前實現轉換等具有多重的期權特徵，本來期權定價就較為困難，而可轉換債券又包含多重期權，事實證明給可轉換債券精確定價幾乎是不可能的事。
  10. 4 convertible bond : security issued by corporations. it combines the features of both bond and stock, which means bondholder could convert their bonds to issue company s common stocks

    4轉換公司債：乃結合債券與股票雙重性質之有價證券，持券人可依轉換條件將公司債轉換為發行公司之普通股票
  11. Convertible bond are appropriate for investors who want higher income than is available from common stock, together with greater appreciation potential than regular bonds offer

    可轉換債券為投資者提供了高於普通股的收入同時又比普通債券有更高陞值潛力的投資工具。
  12. The convertible bond is such a kind of bond by which you can buy publishers " long option of common stocks, which is also a sort of hybrid derivatives between common bonds and common stocks

    可轉換債券是一種帶有可購買發行人之普通股票的買入期權的公司債券，是介於普通債券與普通股票之間的一種混合型金融衍生產品。
  13. From the characteristices of convertible bond, this passage analysed the factors of convertible bond and the comstitute of value, compared the pure bond and the common stock, then analysed its advantage and disadvantage

    摘要本文從可轉換公司債券的特徵出發，對可轉換公司債券的要素、價值構成進行分析，與純粹債券和普通股進行比較，分析其優劣。
  14. Although original conversion price has a significant infection in convertible bond issuance, there are many other factors that has it ' s effects here also, such as issue time, interest rate, redeem clause, return clause, etc. all these factors will be discussed in last chapter

    雖然初始轉換價格對可轉換債券發行成功與否有著重要的影響，但除此之外，發行時機、票面利率、贖回條款和回售條款等也對可轉換債券發行成功與否有著直接的影響。對這些影響因素，都在本文的最後一章作了說明。
  15. Var - based method on estimating convertible bond ' s market risk

    的可轉換債券市場風險測度方法
  16. A study on the scope definition of convertible bond issuing

    關于對可轉換債券融資發行范圍的確定研究
  17. Issuing convertible bond : higher efficiency for corporate financing

    發行可轉換債券能提高企業融資效率嗎
  18. Investment strategies and the model of the valuation of convertible bond

    可轉換債券的定價模型與投資策略分析
  19. In chapter three, this paper discuss the theoretic assume which calculate the original conversion price of convertible bond through b - s model

    本文的第三章詳細探討了運用b - s模型確定可轉換債券初始轉換價格的理論設想。
  20. Then it stress on the infection of original conversion price in convertible bond issuance. by employing si chou convertible bond and shen baoan convertible bond cases, this paper give a detail explain on this infection

    本文的第二章首先闡述了可轉換債券的性質和特點，然後重點論述了初始轉換價格對可轉換債券發行成功與否的重要影響。
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