异军突起的可转债:融资效应待考

An Empirical Study of Convertible Bonds of Listed Companies

2017年以来,由于再融资政策的调整,上市公司发行可转债出现井喷式增长,引起了资本市场各方的关注。从目前看,可转债市场从“小众”的融资工具逐渐演变成了资本市场舞台的“主角”之一,进而成为再融资工具中的重要组成部分,被上市公司和投资者认可和接受。

Listed companies have seen a spurt in the growth of convertible bonds since the adjustment of refinancing policies in 2017. These instruments have attracted considerable attention from participants in the nation's capital markets. The convertible bond market has gradually evolved from a "minor" role to become one of the key components of the capital markets, providing an important refinancing instrument accepted by listed companies and investors alike.