摘要
簿记建档是国际债券市场上较为常见债券定价和配售机制。学术研究一般认为簿记建档有助于促进价格发现,提高一级市场效率。在实践中,簿记更适用于非常规发行人或非常规债券品种,有助于稳固发行人和投资人的关系。
Book-building is a common mechanism for bond pricing and allotment in the international bond market. Academic research generally maintains that book-building can promote price discovery and improve the efficiency of primary market. In practice, it is more applicable to unconventional issuers or unconventional types of bond, and helpful in securing the relationship between issuers and investors.
出处
《金融市场研究》
2013年第9期115-120,共6页
Financial Market Research
关键词
簿记建档
债券发行
国际债券市场
book-building
bond issuance
international bond market
