A Re‐examination of the Case for Accounting Separately for the Debt and Equity Features of Convertible Debt
检验了将可转换债券分解为债务和权益两个部分进行会计处理的两个核心假设，发现通常无法将其分解为基本金融工具，也无法用债券加可分离认股权证的组合来复制其特性。
The case for accounting separately for the debt and equity features of a convertible bond is based on two main assumptions: convertible debt can be decomposed into two, or more, fundamental financial instruments, and a convertible bond has the same economic substance as a bond with a detachable warrant. These assumptions are re‐examined in this paper where it is shown that it is generally not possible to decompose a convertible bond into fundamental financial instruments, nor is it possible to form a package of a bond and a detachable warrant that replicates the character of the convertible bond.