Analysis Of Motivation And Performance Of Convertible Bond

The convertible bond is has the dual attributes of stocks and bonds,financial products,after more than a century of development,convertible bond financing has become a more important way of financing in the capital market,compared with the international market,convertible bonds in China's development time is short.China's listed company convertible bonds for the first time in 1992 issued by the Shenzhen airport,"Baoan convertible bond",after 11 years of development,to the year of 2002,China's convertible bonds began to embark on the road of formal development.By analyzing the reasons of issuing convertible bonds in listed companies,some listed companies issuing convertible bonds and short-term financial performance and long-term financial performance,and compared to the listed companies issuing convertible bonds and other financing ways,to study the influence of listed companies issuing convertible bonds.This research can provide some suggestions for the listed companies to choose convertible bonds.This paper expatiated on the convertible bonds in the domestic and international development,on this basis,the introduction of domestic and foreign scholars in the related research on convertible bonds;secondly,introduces the related concepts of convertible bonds and the corresponding financial performance appraisal standards,various methods and enterprise financial performance evaluation;thirdly,according to the case-selected COHC straight bonds issued do further analysis and research,firstly,COHC reasons of issuing sea straight bonds are analyzed,through a variety of financing compared to financing costs and other indicators,why the listed companies issuing convertible bonds concluded;then according to the short-term financial performance of listed companies were analyzed,from the time of the incident point and time were analyzed by using various research methods;this paper listed Study the issue of the convertible bond's long-term financial performance,financial indicators of the listed company through the comparison of the same industry,the research on the long-term financial performance of the listed companies are summarized;finally listed companies issuing convertible bond and the impact on the company's financial performance and the issuance of convertible bonds to provide some suggestions for the day after the listing company.This analysis is still in its initial stage,only use COHC issuing convertible bond itself is not enough to completely response data,COHC overall financial performance,can not fully reflect China's listed companies issuing convertible bonds issue motives and effects of convertible bonds on the performance of the company,after the the field of further research,to make up for the defect analysis.