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An Analysis Of Technical Factors And Value System For Convertible Bonds In China

Posted on:2003-01-11Degree:MasterType:Thesis
Country:ChinaCandidate:Z S GuoFull Text:PDF
GTID:2156360092471035Subject:Business Administration
Abstract/Summary:PDF Full Text Request
China's Convertible Bonds (CBs) were first issued more than one decade ago by companies in need for fund. But the development of CBs is not a plain sailing;the pace of development is very slow even after the issued of Tentative Administrative Regulation on Convertible Bonds. In late April 2002,Chinese Securities Regulatory Commission issued the Implementation Regulation and three related documents,this action has drawn great attention to the CBs market. There are more than thirty companies which have plan to issue CBs,and the Yanguan-Zhuanzai was first issued on 20 April 2002 under the Verification System.CBs should be an important investment instrument in our capital market as they have many particular nature and character. But until now,the CBs theory and practice in china are still in early stage of development. Only a few researchers engage in this field who seem only to be interest in the description of the bases of CBs and have not applied the theories to explanation of the Chinese CBs market. For this reason,the paper tries to analyze the technical factors and value system for convertible bonds in China.This thesis is comprised of five parts.Chapter 1 introduces basic concepts and attributes of CBs;the history and development stages of CBs in China and abroad are also covered in this chapter.As the core parts of the thesis,chapter 2 and 3 are devoted to discuss the technical factors and value system of CBs from the perspective of the issuers and investors of CBs.Chapter 4 is a case study about jichan-zhuanzai. The last chapter focuses on the problems and weakness of CBs,suggestions to handle the problems and overcome the weakness are provided in this concluding chapter.
Keywords/Search Tags:Convertible bond, Technical factors, Value system
PDF Full Text Request
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