Suppose that Intel is considering building a new chip-making factory.
a) Assuming that Intel needs to borrow money in the bond market, why would an increase in interest rates affect Intel’s decision about whether to build the factory
b) If Intel has enough of its own funds to finance the new factory without borrowing, would an increase in interest rates still affect Intel’s decision about whether to build the factory? Explain.
債券的問題
2007-02-14 12:09 am
回答 (2)
2007-02-21 1:49 am
✔ 最佳答案
定息債券 (Fixed Income Securities)定息債券，是一種能夠給予投資者固定收入的證券。
公司有資金需求，可以有兩種集資途徑：發行新的股本，即向股票市場發行股票，籌足所需資金；或者發行公司債券，以固定息率去籌集資金。在某些情況下，公司不欲發行股票推低股價，便要發行債券集資。
發行定息債券，公司能以固定息率籌集資金，而且在債券到期日之前，只需付應付利息便已足夠，因為債券的本金在到期日才需支付。由於有關支出一早知道，所以公司可以有充足時間準備。而對於購買定息債券的投資者，他們亦有好處，他們能取得固定而穩定的利息收入，而且在一般情況下會較銀行利率高。
不過，定息債券亦有其缺點，特別是息率不穩定的時候。假如市場息率下跌，定息債券的息率由於早已訂定，發債公司便要付出較市場息率較高的利息；相反，如果市場息率上升，則對債券投資者不利，因其利息收益可能不及銀行利
參考: 香港投資者學會
2007-02-14 12:02 pm
a.) if interest rate increase, intel needs to pay higher interest to borrow money as the market rate is higher, investor will only buy the bond with higher rate
b.) the increase in interest rate will still affect intel, cause using its own find means intel cant use the fund to earn the interest,this is the economic rent , with higher interest rate, the cost in building the factory will also increase
b.) the increase in interest rate will still affect intel, cause using its own find means intel cant use the fund to earn the interest,this is the economic rent , with higher interest rate, the cost in building the factory will also increase
參考: ECON + FINANCE I learnt before
收錄日期: 2021-04-12 22:48:14
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