证券转换

In fact,'the stock market has been such a consistent generator of cash flow, it's become a yield engine that's quite similar to the bond market,' says Dean Curnutt, head of equity derivative and convertible sales at Banc of America Securities.

美银证券股票衍生产品和可转换产品销售部的负责人迪安科纳特说，事实上，股票市场已经成了一台持续创造现金流的机器，它已变成了一部与债市十分类似的收益率引擎。

As a new refinancing instruments of quoted company,convertible bond adds energy to securities business.

上市公司可转换债券作为一种新的上市公司再融资工具，为我国的证券市场增添了活力。

The difference between the market value of a company and the capital contributed by investors.

流通性非常高，可迅速以合理价格转换成为现金的证券

Convertible bond has a long history in international financial market, however it is a new leasr of life in China.

经过了近10年的发展，可转换债券在中国证券市场上从摸索尝试到逐渐成熟，其中有很多的经验和教训值得吸取。

The interest-rate risk is very important for convertible bond, one of fixed income securities.

利率风险对可转换债券这种固定收益证券来说是非常重要。

Takeover by tender offershows as special securities transaction act between thetakeover corporation and the target corporation.

它表现为收购公司和目标公司股东之间的特殊证券交易行为，但实质上，它是公司控制权转换的一种机制。

The circular also clarified the collateral and the discount rate: security for the Shanghai 180 stock index, the conversion rate of no more than 70%; other A shares and B shares, Conversion rate of no more than 65%; ST shares and warrants of the conversion rate of 0%; ETF's discount rate does not exceed 90%; the national debt conversion rate of not more than 95%; other bonds (non-government bonds) and other listed securities investment funds conversion rate of less than 80%.

通知还明确了担保和贴现率为上海180股票指数：安全，不超过70％的转换率，其他A股和B股，转换率不超过65％，ST股票和0％的转换率认股权证； ETF的折扣率不超过90％，而国家债务不超过95％的转换率，其他债券和其他上市证券投资基金转换低于80％。

The paper reviews the literatures on double moral hazard,and in order to overcome the problem that simple contractual instrument can not solve the double moral hazard in venture capital,ponders that combining convertible securities with the dyn...

文章回顾了关于风险投资中双边道德风险的研究，为了克服单纯契约工具都不能完全解决风险投资中双边道德风险的问题，指出将可转换证券和控制权相机安排结合起来，可以为双方提供激励，解决风险投资中的双边道德风险问题。

For example, SSE 180 Index constituent stocks of the stock conversion rate does not exceed the maximum 70 percent, the highest rate of other stocks listed on the conversion does not exceed 65 percent; open-end exchange-traded index fund does not exceed the maximum conversion rate of 90%; treasury discount rate does not exceed the maximum 95%; other listed securities investment funds and bond discount rate does not exceed the maximum 80%.

例如，上证180指数成份股股票的转换率不超过百分之七十的最高，关于转换的其他股票比例最高不超过百分之六十五，开放式交易所交易的指数基金不超过最高转化率90％；国库折扣率不超过95％的最高，其他上市证券投资基金和债券折扣率不超过80％的最高。

The growth of convertible bond in China will come into a new page with the declaration of 《The management of convertiable bond for listed company》and the upsurge of convertible bond financing of listed company recently It is very necessary.to understand and analyz its features and its practice also summarize lessons expeirences in China.

因此了解和深入分析可转换债券的性质和它在中国的产生与发展，以及总结其在中国证券市场上的失败教训和成功经验非常有必要。

Lugalbanda was a god and shepherd king of Uruk where he was worshipped for over a thousand years.

Lugalbanda 是神和被崇拜了一千年多 Uruk古埃及喜克索王朝国王。

I am coming just now,' and went on perfuming himself with Hunut, then he came and sat.

我来只是现在，'歼灭战perfuming自己与胡努特，那麼，他来到和SAT 。