可转债是一种较为复杂的金融衍生产品。
最后是可转债案例分析。
这些因素是导致可转债市场异常的重要原因。
These are the probable main factors leading to the abnormal pricing of convertible bonds in China.
因此与单纯的可转债相比，具有一定的优势。
本文我们研究了可转债的发行对公司股价的影响。
We have studied the impact on company's stock price of issue of the convertible bond in this text.
通过两部分价值模型的建立，得到可转债的定价模型。
Through the two parts of the value of the model, the convertible bonds have been pricing model.
我们发现在我国可转债的发行导致股价下降了1.1%。
We find the issue announcement of convertible bond cause the stock price to drop by 1.1%.
然而，这是在未考虑提前赎回可转债的情况下作出的猜测。
However, this is considering to shift to an earlier date redemptive can turn make below the circumstance of debt forecast.
银行也将必须提供可转债形式的纾困资金或者内部救援资金。
Banks would also have to provide a source of ready funds for a bail-out in the shape of convertible or bail-in capital.
二项式方法产生的理论值最接近实际值，尤其对于实值可转债更是如此。
The value by binomial model is the closest value to actual market value, especially to the In-the-money CBs.
此外，本文提出了估计可转债预期转股率的一种方法，并进行了实证研究。
Furthermore, it brings forward an approach to estimate the expected conversion rate of convertible bond and makes an empirical research.
首先，我们用事件研究法检验可转债的发行宣告是否会给公司带来异常收益。
First of all, we examine whether issuance of convertible bond bring abnormal return to company by event study.
这就要求可转债的发行方在定价和发行策略选择上达到较高的技术甚至艺术水准。
This requires the issuance of convertible bonds in pricing and distribution strategy choice of a higher technical level and even the arts.
事件研究的结果发现我国上市公司分离交易可转债的发行公告具有显著的正效应。
The event study analysis shows that announcements of warrant-bonds issued by Chinese listed companies are associated with significant positive abnormal returns.
可转债的票面利率低于一般公司债，并为投资人提供机会从换股中获得资本利得。
Convertibles have a lower coupon rate that non-convertible debt, but they offer investors a chance for capital gains in exchange for the lower coupon rate.
摘要目的在传统的可转换债券定价理论的基础上分析可转债的价值，给出了其价值确定公式。
Aim the convertible bond value is analyzed on the basis of the traditional theory and its value formula has been given.
各证券、期货交易所，各证券、基金、期货公司，申请公开发行股票、可转债及基金的企业。
Stock and futures exchanges, securities, fund and futures companies, and enterprises applying for public issuance of stocks, convertible bonds and funds.
传统的可转债定价方法的基本思路是通过建立可转债价值的模型来直接求解可转债理论价格。
The basic thought of the traditional convertible bond pricing theory is to construct a value model of convertible bond to solve the theoretic price.
业内人士分析，分离交易可转债之所以更受上市公司青睐或与今年以来权证受投资者追捧有关。
Analysis of the industry, separate trading of convertible bonds of listed companies was more popular this year or warrants sought after by investors concerned.
市场对可转债发行首次公告的消极反应持续时间较长，且公告前基本没有消息提前泄漏的迹象。
The negative reaction lasts long after the first announcement of convertible bonds' issuance. And there is nearly no information leakage before the announcement.
然后通过对传统的可转债的定价方法的比较得出二叉树模型在可转债定价中具有很强的实用性。
After compared with other traditional pricing methods, find out that the Binomial Tree Model is more effective in Convertible Bonds pricing.
本文应用中国市场的数据对解释可转债折价的投资者群体差异假说和流动性假说进行了实证检验。
The paper investigates the differential clienteles and liquidity hypothesis in Chinese convertible market by using large sample analysis.
与传统模型相比，可以更好地解决多因素扰动条件下的可转债定价问题和可转债条款中的路径依赖问题。
Compared with the traditional models, this model originated from a new thought, and can solve the convertible bond pricing problem under multi-factors and path-dependence.
双方谈判的结果可能会促成一项复杂的交易，使得中国铝业通过收购可转债的方式增加对力拓股份的持有至超过11%。
The talks may bring about a complex deal that would allow Chinalco to raise its stake in Rio over 11% through the purchase of a convertible bond.
在此，文章对已发行分离式可转债的17家上市公司，股民参与“优先配售”的情况作一分析，供投资者参考。
In this, the article to separate convertible bonds issued 17 listed company, people involved in "priority allotment" of the situation analysis, for investors reference.
在此，文章对已发行分离式可转债的17家上市公司，股民参与“优先配售”的情况作一分析，供投资者参考。
In this, the article to separate convertible bonds issued 17 listed company, people involved in "priority allotment" of the situation analysis, for investors reference.
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