Value Assessment of Convertible Bonds Based on the Black-Scholes Model:Taking a Listed Corporation's Convertible Bonds as an Example
As a multi-purpose financial instrument that combines the characteristics of bonds and equity,the convertible bond has the function of raising funds and reducing risks.Its pricing has been widely concerned.In this paper,by analyzing the composition of theoretical value of convertible bonds,it concludes that convertible bonds theory value consists of the components in general bond value and option value.Taking the convertible bond issued in 2021 by the bank Co.,Ltd.,through the Black-Scholes model for calculation,the theoretical value of the convertible bond is assessed.It is compared with the actual market price,analyzes the causes of price deviation,finally analyzes the influence factors of convertible bond theory value,in order to offer help to its pricing and investment in convertible bonds.
convertible bondspricingBlack-Scholes modelconvertible bonds of bank Co.,Ltd
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