Abstract

At present, the convertible bonds advance side by side with allotment and additional issuing, and they have been the “troika” of the refinancing for Chinese listed companies. The single-factor analysis and Logistic regression analysis were adopted for Chinese listed companies which issued convertible bonds, allotment and additional share issuance from 2002 to 2004, and the results indicated that the companies which issued convertible bonds possessed many characteristics such as high growth property, large scale, low financial risk, low default risk, low stock price and shareholder concentration.

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