| 可转换债务发行动机研究综述 |
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| 引用本文： | 袁卫秋.可转换债务发行动机研究综述[J].上海立信会计学院学报,2005,19(6):16-20. |
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| 作者姓名： | 袁卫秋 |
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| 作者单位： | 南京财经大学,南京,210046 |
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| 摘 要： | 长期以来,从事财务实务工作的人员一直认为,企业发行可转换债务的主要动机是可转换债务相比直接债务或普通权益,其筹资成本更为低廉。然而,Brennan和Schwartz指出,这是一种错误的想法。由于可转换债务附有转换权,因此其成本事实上可能并不低廉。这就意味着企业之所以发行可转换债务一定还有其他的理由,可转换债务发行动机的理论研究证实了这一点。
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| 关 键 词： | 可转换债务 发行动机 |
| 文章编号： | 1009-6701(2005)06-0016-05 |
| 收稿时间： | 04 29 2005 12:00AM |
| 修稿时间： | 2005年4月29日 |
A Survey on the Motives of Convertible Debt Issuing |
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| Yuan Wei Qiu.A Survey on the Motives of Convertible Debt Issuing[J].Journal of Shanghai Lixin University of Commerce,2005,19(6):16-20. |
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| Authors: | Yuan Wei Qiu |
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| Abstract: | The general consensus concerning the motivation to issue convertible debt among financial practitioners for a long time is that convertible debt is a cheaper form of financing compared to straight debt or common equity.However,Brennan and Schwartz(1988) pointed out that this was an erroneous belief.In fact.the cost of the convertible bond may not be cheaper because of the attachment of conversion rights.So.it means that there are still other reasons for the issue of convertible debt.It is validated by the study on the theory of motivation to issue convertible debt. |
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| Keywords: | convertible debt motivation |
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