The Analysis on Discount Phenomenon of Convertible Bonds

DOI

10.2991/emcs-17.2017.347How to use a DOI?

Keywords

Convertible bonds; T-F Binary tree model; Theory-Price; Issuing price; Discount phenomenon.

Abstract

With the continuous development of China's capital market, there are more and more new financing tools coming out in the market. This paper aims at discover the convertible bonds theory value of China's market by analyzing the terms of the convertible bonds and factors which can influence value and combing with the characteristic of the convertible bonds market in our country. Then this paper chooses Tsiveriotis and Fernandes model and use binary tree calculation method at the same time to calculate 102 convertible bonds listed in the market since 2002-2015, and find out the convertible bonds theory values are higher than actual values, then we put forward policy Suggestions.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Huahong Yan
AU  - Yezi Fang
PY  - 2017/03
DA  - 2017/03
TI  - The Analysis on Discount Phenomenon of Convertible Bonds
BT  - Proceedings of the 2017 7th International Conference on Education, Management, Computer and Society (EMCS 2017)
PB  - Atlantis Press
SP  - 1829
EP  - 1834
SN  - 2352-538X
UR  - https://doi.org/10.2991/emcs-17.2017.347
DO  - 10.2991/emcs-17.2017.347
ID  - Yan2017/03
ER  -