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《Finance and Economics》 2005-02
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Issuing Convertible Bond: Higher Efficiency for Corporate Financing?

Chen Kun  
Based on the theory of corporate financing, this article focuses on the efficiency of convertible bond financing. The author found that on the one hand, the cost of capital is really low in case of low value of corporate, but the financial risk is high; and in case of high corporate value, the cost of capital will be high for the value lost. On the other, if the stock price can reflect the true value of corporate, the efficiency of convertible bond financing will be high.
【Fund】: 教育部人文社会科学重点研究基地重大项目《基于衍生金融工具的公司投融资研究》(02JAZJD790027) 的阶段性研究成果。
【CateGory Index】: F275
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