分离交易可转债

分离交易可转债WBs（WarrantBonds）这一关联股票、债券和权证三种金融工具的初级衍生产品于2006年5月8日被批准为上市公司再融资工具。

Warrant Bonds ( WBs ) which conjuncts three financial tools including stock , bond and warrant as a junior derivative was approved to be a refinance tool for the list companies in May 8th , 2006 .

分离交易可转债融资模式与投资者套期保值研究

Research on the Financial Model of Warrant Bonds and Hedge Strategy of Investor

我国分离交易可转债投资风险和收益研究

The Research on Risk and Benefit of Warrant Bond Investment in China

上市公司发行分离交易可转债对股东财富影响的实证分析

Empirical Research on the Shareholder Wealth Effect of Issuing Bond with Warrants by Listed Companies

最终发行分离交易可转债向市场传递了利好信号，给公司带来正面效应。

Finally , issuing Bond With Warrants sends positive signal to the market and show the company a positive effect .

股权再融资一般包括配股、增发新股、可转债以及分离交易可转债的发行。

Generally speaking , seasoned equity offering ( SEO ) includes right issuing , issuing new shares and issuing convertible bonds .

分离交易可转债也称为附认股权证公司债，在发达的金融市场已经走过了产生、发展、繁荣、衰退的历史过程。

Warrants attached to bonds in developed financial markets have already gone through , developed and thrived , declined in the course of history .

但是这种繁荣主要建立在现阶段市场对认股权证非理性炒作的基础之上，市场价格未能反映分离交易可转债和认股权证的价值，长此以往可能不利于资本市场的健康稳定发展。

But the prosperity built on the main stage of the market warrants irrational speculation ; market prices do not reflect the value of the WBs and the warrants .

因此，本文将这一创新产品与普通可转债进行比较，有助于大家对分离交易可转债有更深入的了解。

Therefore , this innovative product will be compared with ordinary convertible bonds in the paper , so that everyone will have a more comprehensive and in-depth understanding about the Bond With Warrants .

由于分离交易可转债的新颖性，国内对其的研究还处在初步阶段，主要停留在它的发行条款、市场收益以及市场风险的研究上。

As the novelty of Bond With Warrants , at present , the domestic research in this area has just started , mainly stay in its terms of issue , market returns and market risk research .