頁籤選單縮合
題 名 | 美國垃圾債券市場的探討=The Investigation of U.S. Junk Bond Market |
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作 者 | 詹芬樺; | 書刊名 | 環球商業專科學校學報 |
卷 期 | 5 1998.01[民87.01] |
頁 次 | 頁63-76 |
分類號 | 563.538 |
關鍵詞 | 垃圾債券; 企業購併; 融資購併; Bond; Michael R. Milken; Drexel Burnham Lamber; Merge & acquisition; Leverage buyouts; |
語 文 | 中文(Chinese) |
中文摘要 | 垃圾債券即所謂的高收益債券,但它也隱含高風險。垃圾債券被國外兩家極具公 信力的債信評等機構( Moody's 與 Standard & Poor's )評為非投資級債卷。本文首先介 紹垃圾債券的意義與特性,接著說明 70 年代末期垃圾債券主要用途-幫助中小企業的成長 ,以及當時對美國金融市場的正面影響。但於 80 年代中期,垃圾債券的用途卻變質了,它 變成企業購併的工具,最後成為 80 年代末期金融風暴的導火線。在本文的最後將介紹垃圾 債券的投資策略,以供參考。 |
英文摘要 | Junk Bond is so-called high-yield bond, but it also indicates high-risk. It is graded the non-investment grade by the Moody's and the Standard & Poor's. First, we will discuss the definition and the characteristics of the Junk Bond in the paper. Secondly, we will find out the development of the Junk Bond in the end of 1970's. The main purpose of Junk Bond was to help the small businesses to "grow up" in these days, but it was changed during the middle of 1980's: to get involved the Merge and Acquisitions (M&A's). That led to the big crush of the financial market in the end of 1980's. Finally, we will talk about some save tips to invest Junk Bonds. |
本系統中英文摘要資訊取自各篇刊載內容。