摘要
在国际学术界,用于解释可转换债券发行动机的研究成果有资产替代假说、评估风险假说,后门融资假说与阶段性融资假说。同国外比起来,我国在可转换债券发行动机方面的研究还较少,研究方法的角度还有待改善。全面深入地弄清可转换债券发行动机,无论对发行可转换债券企业,还是对鼓励和扶持可转换债券都很有意义。
In the international academic circles, there are such theories on convertible bonds including the Asset Substitution Hypothesis, the Estimation Risk Hypothesis, the Back Door Equity Financing Hypothesis, the Sequential - Financing Itypothesis. In China, few researches have been done in tiffs area. It proves very important to study the motive of issuing convertible bonds, which may mean much to the issuing companies and also the support of developing convertible bonds.
出处
《商业研究》
北大核心
2006年第15期126-128,共3页
Commercial Research
关键词
可转换债券
评估风险
阶段性融资
convertible bond
estimation risk
sequential-financing
