by Tse Kwok-fai, Sammy, Wong Kin-fai, Kelvin. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaf 46). / TABLE OF CONTENTS --- p.i / LIST OF TABLES / FIGURES --- p.ii / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- MARKET STRUCTURE --- p.4 / Chapter III. --- PRODUCT TYPES --- p.11 / Chapter IV. --- BASIC ELEMENTS AFFECTING BONDS PRICING --- p.18 / Chapter V. --- BONDS PRICING MODELS --- p.25 / Chapter VI. --- FACTORS LIMITING BONDS MARKET GROWTH --- p.34 / Chapter VII. --- PROSPECTS --- p.40 / Chapter VIII. --- CONCLUSION --- p.43 / BIBLIOGRAPHY --- p.46

by Lai Tai-Hon Sammy, Sieh Shing-Chun. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1996. / Includes bibliographical references (leaves 68-70). / ABSTRACT --- p.iii / TABLE OF CONTENTS --- p.iv / LIST OF ABBREVIATIONS --- p.vi / LIST OF FIGURES AND TABLES --- p.vii / ACKNOWLEDGEMENTS --- p.viii / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Background --- p.1 / Objective --- p.1 / Methodology --- p.2 / Chapter II. --- HISTORY OF THE BOND MARKET IN CHINA --- p.4 / History of the Government's Debt Issuance --- p.4 / Reasons for the Rapidly Increasing Debt Outstanding --- p.6 / Recent Development of the Bond Market in China --- p.7 / Chapter III. --- THE ROLES OF BOND MARKET IN CHINA'S ECONOMY --- p.10 / The Importance of Government Securities Market for China's Development --- p.10 / Fiscal Management --- p.11 / Bond Financing of Real Sector Investment --- p.12 / Chapter IV. --- TYPES OF DEBT SECURITIES IN CHINA --- p.14 / Government Bonds --- p.14 / Treasury Bonds --- p.14 / Fiscal Bonds --- p.16 / State Construction Bonds --- p.16 / Key State Construction Bonds --- p.17 / Special Government Bonds --- p.17 / Indexed Bonds --- p.17 / National Investment Bonds --- p.18 / State Investment Corporation Bonds --- p.18 / Key Enterprise Bonds --- p.18 / Capital Construction Bonds --- p.19 / Financial Institution Bonds --- p.19 / Corporate Bonds --- p.20 / Chapter V. --- THE DOMESTIC BOND MARKET --- p.22 / Primary Market --- p.22 / Issuers --- p.22 / Issue Procedure of Government Bonds --- p.22 / Issue Procedure of Non-Government Bonds --- p.25 / Issue Characteristics --- p.26 / Interest Rate Subsidy --- p.28 / Credit Rating Agencies --- p.29 / Secondary Market --- p.30 / Development of Spot Market --- p.30 / Development of Futures and Repurchase Markets --- p.32 / Trading Centres --- p.33 / Trading Volume and Liquidity --- p.35 / Causes of Lack of Liquidity --- p.36 / Chapter VI. --- THE INTERNATIONAL BOND MARKET --- p.40 / Foreign Participation in China's Domestic Bond Market --- p.40 / China's Overseas Bond Issues --- p.41 / History --- p.41 / Convertible Bonds and Bond Derivatives --- p.43 / Issues Procedures --- p.43 / Possible Problems with the Issues Procedures --- p.44 / China's International Bond Issuers --- p.44 / Trend of International Issuance --- p.45 / Choices of Markets for Issuance --- p.47 / Chapter VII. --- DEBT MANAGEMENT OF CHINA --- p.48 / Causes of the Mexico Crisis in 1995 --- p.48 / An Analysis of the China's Current Situation --- p.49 / Compositions of Foreign Capital Flow into the Country --- p.49 / Political Risk --- p.49 / Current Account Balance --- p.50 / Foreign Reserves and Short-Term Liabilities --- p.50 / Foreign Debt --- p.52 / Conclusion: The Possibility of Financial Crisis in China --- p.53 / Chapter VIII. --- RECOMMENDATIONS FOR FOREIGN INVESTORS --- p.55 / Risk of Default --- p.55 / Credibility --- p.55 / Macroeconomics Situation --- p.56 / Credit Rating --- p.57 / Rate of Return --- p.58 / Conclusion --- p.59 / Chapter IX. --- APPENDIX --- p.61 / Chapter X. --- BIBLIOGRAPHY --- p.68

by Chan Hoi-ying. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 44-45). / ABSTRACT --- p.iii / TABLE OF CONTENTS --- p.iv / LIST OF ILLUSTRATIONS --- p.vi / LIST OF TABLES --- p.vii / ACKNOWLEDGMENTS --- p.viii / CHAPTER / Chapter I. --- INTRODUCTION --- p.1 / Scope of Study --- p.2 / Approach of Study --- p.3 / Chapter II. --- DEVELOPMENT OF CORPORATE BONDS IN HONG KONG --- p.4 / The History of Hong Kong Bond Market --- p.4 / The Reasons for Low Bond Activity Before 1991 --- p.6 / The Growth of the Bond Market after 1991 --- p.6 / The Exchange Fund Bills and Notes --- p.7 / The Liquidity Adjustment Facility --- p.8 / The Central Moneymarket Unit --- p.9 / The Rise of Corporate Issuers and Investors --- p.10 / Chapter III. --- TYPES OF CORPORATE BONDS --- p.14 / Eurobonds --- p.14 / Euroconvertible Bonds --- p.16 / Yankee Bonds --- p.18 / Hong Kong Dollar Bonds --- p.21 / Chapter IV. --- DIFFERENT WAYS TO VALUE CORPORATE BONDS --- p.25 / Theoretical Pricing of Bonds Using Option Pricing Model --- p.25 / Black and Scholes Option Pricing Model --- p.26 / Using Black and Scholes Model for Pricing Corporate Bonds --- p.27 / Using Black and Scholes Model for Pricing Convertible Bonds --- p.29 / Pricing of Corporate Bonds in Practice --- p.32 / Credit Rating --- p.32 / Yield --- p.34 / Supply and Demand --- p.35 / Market Sentiments --- p.35 / Conclusion --- p.36 / Chapter V. --- WHEN TO ISSUE EACH TYPE OF BOND --- p.37 / Eurobonds --- p.37 / Euroconvertible Bond --- p.38 / Yankee Bonds --- p.39 / Hong Kong Dollar Bonds --- p.39 / Chapter VI. --- FUTURE OF CORPORATE BONDS --- p.41 / Further Development of the Hong Kong Dollar Bonds --- p.41 / Prospects for Corporate Bonds in Overseas Bond Market --- p.42 / BIBLIOGRAPHY --- p.44

by Ng Shiu Cheong, Albert, Wong Shuk King, Grace. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1991. / Bibliography: leaf 51. / ABSTRACT --- p.ii / TABLE OF CONTENT --- p.iv / ACKNOWLEDGEMENT --- p.vi / Chapter I. --- INTRODUCTION --- p.1 / General Background --- p.1 / Nature of rights issue --- p.2 / Reasons for company to raise funds through rights issue --- p.3 / Mechanics of rights offering --- p.3 / Underwriting rights issue --- p.4 / Trading of rights by shareholders --- p.4 / The intrinsic value of rights --- p.6 / Trading Rights in practice --- p.7 / Legal aspects of rights issue --- p.9 / Chapter II. --- VALUATION OF UNDERWRITING AGREEMENTS FOR RIGHTS ISSUES - THE BLACK AND SCHOLES MODEL --- p.11 / Introduction --- p.11 / Risks associated with rights issue --- p.12 / Underwriting agreement --- p.13 / The British versus American system --- p.14 / The Black and Scholes model --- p.16 / The Model --- p.16 / Empirical Findings of Underwriting Agreement --- p.18 / Comment --- p.19 / Chapter III. --- PRICING OF UNDERWRITING AGREEMENT IN HONG KONG --- p.20 / Basic Information --- p.20 / Option Pricing Model and Valuation of Underwriting Agreement --- p.21 / Assumed Price Model for Ex-post Stock Price in using Black-Scholes Model in Valuing Underwriting Agreement for Rights Issue --- p.22 / Methodology of study and Sampling --- p.23 / Estimation of variance of the stock's return --- p.25 / Hypothesis of Testing --- p.26 / Results of Analysis --- p.26 / Sensitivity of underwriting agreement value to the variables in the Black-Scholes model --- p.29 / Chapter IV. --- A NEW METHOD FOR PRICING THE UNDERWRITING AGREEMENTS FOR RIGHTS OFFERINGS --- p.35 / General overview --- p.36 / A New Price Model for the Ex-post Stock Price --- p.36 / The Model --- p.36 / Upper and Lower Bound for the Premium by K.K. Aase' s model --- p.38 / Analysis of Results --- p.40 / Chapter V. --- CONCLUSION --- p.43 / EXHIBIT 1 / "AMOUNT RAISED BY DIFFERENT METHODS IN THE MARKET, 1989" --- p.45 / APPENDIX 1 / LEGAL ASPECTS OF A RIGHTS ISSUES --- p.46 / BIBLIOGRAPHY --- p.51

by Yow Nga-Yee. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1999. / Includes bibliographical references (leaves 35-36). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF ILLUSTRATIONS --- p.iv / LIST OF TABLE --- p.v / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Market Structure --- p.1 / Chapter II. --- VALUATION OF CREDIT RISK --- p.9 / Introducing CreditMetrics --- p.10 / Credit rating anomalies --- p.15 / Application of bond analysis to the Hong Kong Market --- p.15 / Chapter III. --- METHODOLOGY OF HONG KONG BOND RATING --- p.18 / Rating at a Global Perspective --- p.19 / Country risk: Emerging markets --- p.22 / Chapter III. --- COMPARISON BETWEEN HONG KONG BOND AND US BOND OF SAME CREDIT RATING --- p.26 / Methodology --- p.26 / The result --- p.27 / Discussion of the data set --- p.29 / Explanations of the result --- p.30 / Chapter IV. --- CONCLUSION --- p.33 / BIBILIOGRAPHY --- p.48