Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 65 , 28 December 2023
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An Empirical Study on the Impact of Convertible Bond Financing on Corporate Performance ——Taking China's A-Share Listed Companies as an Example
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Abstract
Convertible bond is a financing means of both stock and bond, and it is also a refinancing means of listed companies in our country. Based on the study of convertible bonds, this paper analyzes the impact of convertible bond issuance on the financial performance of the issuer, and through the analysis of different financial indicators of China's A-share listed companies, draws the following conclusions: in 2017 and beyond, convertible corporate bonds can bring significantly higher return on total assets, and convertible corporate bonds have forward utility.And put forward the following reference suggestions, for the regulatory authorities, not only to gradually relax the threshold of bond issuers, but also to strengthen supervision. For investors, convertible bond financing can be used as a criterion to screen non-financial companies with a good business environment, and they should also continue to pay attention to the use of funds issued by convertible corporate bond companies.
Keywords
convertible bond, financial performance, regulatory policy, intermediary effect, earnings management
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-239-8
- ISBN (Online)
- 978-1-83558-240-4
- Published Date
- 28 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/65/20231588
- Copyright
- 28 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited