2007•Journal of Guangdong AIB Polytechnic CollegeRequires access

Empirical Analysis on the Investment Value of Listed Convertible Bonds

Xiao Jian-lin

Abstract

This article analyzes the investment value constitution of listed convertible bond.The investment value of the listed convertible bond has been underestimated.It also analyzes factors of affecting the value of bonds and options contained in the value of the bonds.Underestimation value of the convertible bonds listed was mainly due to the market factors and low value of options.Based on the above analysis,some policies on the conditions of convertible bonds,the design's terms and trading terms have been proposed.

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Key concepts: Convertible bond, Convertible arbitrage, Convertible, Bond, Value (mathematics), Investment value, Investment (military), Embedded option