Research On The Value Of Convertible Bonds Issued By Listed Companies

Convertible bond is a kind of complicated derivative which can be exchanged, at the option of the holders, for a specific number of shares of the company's stock. Since it has the characteristics of both bond and stock, convertible bond is getting more and more popular with the investors. It has become an important part of the capital market in developed countries.In the early 1990s, convertible bond was introduced to our domestic capital market. Compared with the developed countries, our convertible bond market gets started relatively later and the scale is smaller. However, it enjoys a high growth rate and has huge potential room for future development. In recent years, our convertible bond market has seen a great change, but the empirical study on that still stagnates in its early stage. Since convertible bond would play a more and more important role in corporate financing and our domestic convertible bond market is far from maturity, research on the characteristics and development trend of the value of convertible bonds in a long period of time, especially the...