The Conflicts Of Interest And The Mechanism Of The Interest Balance Of Convertible Bonds

This article from a perspective of balanced mechanism design studied the legal system which adjust the interests among the issuer, the bondholders and the shareholders. In addition to the introduction and conclusion the full text of a total of five parts.Introduction introduces the general properties of convertible bonds, the current situation of our related legal system and the intention of this paper to solve the problems.In Chapter 1, I analyze the basic theoretical problems of the convertible bonds:First of all, this paper adopts a narrow concept of convertible bonds, second addressed the characteristics of convertible bonds.In Chapter 2, I focus on the Conflicts of interest among the issuer, the bondholders and the shareholders.In Chapter 3,I point out the current our country related legal regime existence the flaws, and obtain the conclusion that must carry on restructuring to the present related legal regime.In Chapter 4, I introduced the benefit legal adjustment theory, the benefit counterparts theory and so on, the goal is provides the solid rationale and the value instruction for the benefit balanced mechanism design.The issuance and conversion process of convertible bonds is the basis for all its activities, the chapter 5 is mainly from the issuance and conversion processes reconstruct the benefit balanced mechanism. This part is this article key point as well as the innovation is at.