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BI TP SO SNH C PHIU V TRI PHIU

H v tn: ng Phng ip M Sinh vin : A13060 Lp: Th trng chng khon sng th 3

Sau 10 nm pht trin, d vn gp rt nhiu kh khn, phi chu tc ng t 2 cuc khng hong ti chnh ln khu vc v th gii, nhng n nay Th trng chng khon(TTCK) Vit Nam c nhng bc tin ng ghi nhn v c nh gi l mt th trng c tim nng ln. i vi TTCK Vit Nam, c phiu v tri phiu vn l hai loi chng khon c giao dch rng ri nht v c s lng v gi tr.

I. So snh tri phiu v c phiu


1. Ging nhau - u l nhng chng t c gi, chng nhn quyn v li ch hp php ca ngi s hu i vi ti sn v ngun vn ca t chc pht hnh. - c dng huy ng vn v c tnh thanh khon cao. - Ngi s hu u c d hu mt khon li. - Gip chnh ph a ra cc chnh sch iu chnh nn kinh t. 2. Khc nhau
c im so snh C phiu (Stock) - L loi chng khon vn - L mt chng nhn quyn s hu v cc li ch hp php ca ngi s hu c phiu i vi ti sn v vn ti mt cng ty c phn. Tri phiu(Bond) - L loi chng khon n - L mt chng nhn ngha v n ca ngi pht hnh phi tr cho ngi s hu tri phiu i vi mt khon tin c th (mnh gi ca tri phiu), trong mt thi gian xc nh v vi mt li tc quy nh.

Khi nim

Khi mt cng ty c phn t huy ng vn th s vn cn huy ng c chia thnh nhiu phn nh bng nhau gi l c phn. Ngi mua c phn gi l c ng. C ng c cp mt giy chng nhn s hu c phn gi l c phiu

Ni pht hnh

C phiu l chng ch do cng ty c phn pht hnh hoc bt ton ghi s xc nhn quyn s hu mt hoc mt s c phn ca cng ty .

Ngi pht hnh c th l doanh nghip (tri phiu doanh nghip), mt t chc chnh quyn nh Kho bc nh nc (l tri phiu kho bc), chnh quyn (cng tri hoc tri phiu chnh ph). - Pht hnh tri phiu nhm huy ng vn kinh doanh(thng l vn trung v di hn)

Mc ch

- Pht hnh c phiu nhm lm tng vn ch s hu

Ngi s hu

- Ngi nm gi c phiu tr thnh c ng v ng thi l ch s hu ca cng ty pht hnh,tng ng vi tr gi c phiu mnh c

- Ngi nm gi tri phiu l ch n ca cng ty pht hnh ra tri phiu, c th l c nhn hoc doanh nghip hoc chnh ph. Tn ca tri ch c th c ghi trn tri phiu (trng hp ny gi l tri phiu ghi danh) hoc khng c ghi (tri phiu v danh). - Khng c quyn tham gia cc hot ng iu hnh cng ty - c hng li sut c nh v n nh theo ng nhng g t chc pht hnh cam kt, khng b nh hng bi kt qu kinh doanh

- c quyn bu c, ng c vo b my qun tr v kim sot cng ty - c chia c tc theo li nhun ca cng ty v t l chia c tc; Nu li nhun nhiu s c hng c tc ln v ngc li

- Khng c rt vn trc tip m ch c chuyn nhng vn cho ngi khc - Phi chu trch nhim v s thua l hoc ph sn tng ng vi phn gp vn ca mnh. - Khng phi tr n, ch tr li - Li ny khng c nh ph thuc vo tnh hnh hot ng ca cng ty nn ngi pht hnh c th ch ng linh hot iu chnh. - Vn vay khi s dng trong hot ng kinh doanh s phi thc hin cc ngha v thu

- c rt vn trc tip khi n ngy o hn

-Cc tri ch c u tin thanh l ti sn trc cc c ng nu cng ty gii th. - Va phi tr n, va phi tr li - Li c nh nn n k hn l phi thanh ton.

Ngi pht hnh

- Vn vay khi s dng c min thu

Tnh cht khc

- C phiu khng c thi hn - C kh nng sinh li - C tnh ri ro cao

- Tri phiu c thi hn: C thi hn tn hn n k o hn - Khi nhn c tri tc phi ngh cch lm sao tip tc u t - Ri ro thp hn c phiu

Gia tri phiu v c phiu c mt gch ni lin kt, l trng hp tri phiu chuyn i c. - Tri phiu c tnh chuyn i l tri phiu c th chuyn thnh c phiu thng vo mt thi im c xc nh trc trong tng lai. - Loi tri phiu ny c c im l c tr mt mc li sut c nh nn c v ging nh tri phiu nhng mt khc li c th chuyn i thnh loi c phiu thng ca cng ty v y cng chnh l im hp dn ca tri phiu c tnh chuyn i. Khi th trng ang pht trin, nh u t thng quan tm nhiu n c phiu (CP) nn th trng tri phiu (TP) b sa st. tng tnh hp dn vi ngi u t, cc cng ty pht hnh TP

c th thm vo c tnh chuyn i, v cng ty s tr li sut thp hn cho nh u t s hu loi TP chuyn i ny. Ngc li, khi th trng TP pht trin, TP c tnh chuyn i s pht huy tc dng nh mt phng tin tng vn c phn da trn c s tr hon tr n v khi TP chuyn i bin thnh CP, vn huy ng ca cng ty s thay i t n sang vn.

II. Kt lun

Ty tng giai on m doanh nghip s quyt nh huy ng vn bng pht hnh c phiu hay tri phiu. - Vi mc tiu cao nht l sinh li, bn nn cn nhc k lng v tm hiu k TTCK v cc bin ng ca n c nhng quyt nh chnh xc v ng thi c : quyt nh mua c phiu hay tri phiu, quyt nh u t vo u, mua tri phiu ngn hn hay trung hn, di hn.

III. Mc lc ti liu tham kho

1. 2. 3. 4. 5.

Gio trnh Th trng chng khon Trng i hc Thng Long. Website: http://www.vnecon.com Website: http://thuchanhchungkhoan.com Website: http://www.bsc.com.vn Website: http://saga.vn

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