Glossary entry (derived from question below)
Mar 17, 2014 11:14
10 yrs ago
Chinese term
China
Financial /legal translator
Native in: Chinese (Variants: Mandarin, Simplified)
Works in: English to Chinese, Chinese to English
弹性
Chinese to English
Bus/Financial
Investment / Securities
债券
我们认为XXX一年内发生提前赎回概率小，但3年左右概率存在。正股还需上涨70%才能达到强赎回条件，XXX转债对正股价格的弹性约0.7左右，由此若要触及强赎，转债价格将涨至YYY元以上，转债涨幅ZZ%。
这是关于证券公司对于某上市公司发行的可转债的判断。请问这里的“转债对正股价格的弹性”是什么意思？这里的“弹性”是指resilience, flexibility 还是sensitivity? 到底0.7是如何计算得出的，这个数值是好是坏？搜索了百度，没有找到权威的说法。求有相关背景的大侠解答。感谢。
这是关于证券公司对于某上市公司发行的可转债的判断。请问这里的“转债对正股价格的弹性”是什么意思？这里的“弹性”是指resilience, flexibility 还是sensitivity? 到底0.7是如何计算得出的，这个数值是好是坏？搜索了百度，没有找到权威的说法。求有相关背景的大侠解答。感谢。
Proposed translations
(English)
| 3 | sensitivity |
Phil Hand
|
| 3 | premium / adjustment |
Ng Hung Ha (X)
|
| 3 | elasticity |
Peipei Xiang
|
Proposed translations
20 hrs
Selected
sensitivity
我的理解是：
股价上涨100元，债价上涨70元。
并非我的专业领域，仅供参考！
看看连接中：
Delta: A measure of the convertible bond's price sensitivity to underlying stock price movements. 而且他们的delta范围大概是0.4-0.8，与你的文章很切合。
股价上涨100元，债价上涨70元。
并非我的专业领域，仅供参考！
看看连接中：
Delta: A measure of the convertible bond's price sensitivity to underlying stock price movements. 而且他们的delta范围大概是0.4-0.8，与你的文章很切合。
Reference:
https://www.invesco.com/static/us/contentdetail?contentId=188766b451c41410VgnVCM100000c2f1bf0aRCRD
Note from asker:
| Thanks Phil. It is very helpful. The link you give and your answer are exactly what I am searching for. |
3 KudoZ points awarded for this answer.
1 hr
premium / adjustment
a premium of approximately 70% / 0.7 to the share price? (percentage?)
the adjustment to the share price is approximately 0.7? (value?)
a little idea for your reference. not sure about the whole story.
the adjustment to the share price is approximately 0.7? (value?)
a little idea for your reference. not sure about the whole story.
Note from asker:
| Thanks Vanessa, very helpful |
2 hrs
Peipei Xiang
United States
United States
Native in Chinese
&
English
United States
Reliable with Fast Turnaround!
Native in: Chinese (Variants: Mandarin, Wenzhounese, Simplified) 
, English (Variant: US)
Works in: Chinese to English, English to Chinese
elasticity
经济学中的弹性一般用到elasticity，比如需求的价格弹性就是：Price elasticity of demand。我觉得这里也应该用elasticity比较准确。
Discussion
Convertible bonds often have special provisions subject to the underlying stock’s price. For example, a convertible cannot be called for three years from issuance and from then on only if the underlying stock reaches a specified price level. Such a call feature is known as a provisional call.
See: http://www.fam.ch/en/knowledge/theory/terminology_of_cbs.htm...