近日，可轉(zhuǎn)債市場(chǎng)的現(xiàn)狀引發(fā)了廣泛關(guān)注。作為投資領(lǐng)域中備受追捧的一種工具，可轉(zhuǎn)債在投資者群體中擁有著特殊地位。然而，隨著市場(chǎng)環(huán)境的變化和政策調(diào)整，可轉(zhuǎn)債市場(chǎng)也出現(xiàn)了諸多令人關(guān)注的問(wèn)題。

首先，在當(dāng)前經(jīng)濟(jì)形勢(shì)下，不少公司紛紛選擇通過(guò)發(fā)行可轉(zhuǎn)債來(lái)融資擴(kuò)大規(guī)模。這使得可轉(zhuǎn)債產(chǎn)品數(shù)量逐漸增多，并且呈現(xiàn)出趨于同質(zhì)化、競(jìng)爭(zhēng)激烈等特點(diǎn)。對(duì)于投資者來(lái)說(shuō)，在眾多項(xiàng)目之間進(jìn)行選擇變得更加困難；同時(shí)也存在部分企業(yè)盲目追求快速融資、高杠桿運(yùn)作帶來(lái)風(fēng)險(xiǎn)過(guò)度集中等問(wèn)題。

其次，在監(jiān)管層面上也暴露出一些制度性漏洞和管理弱點(diǎn)。盡管相關(guān)政策法規(guī)已相繼發(fā)布并實(shí)施，但是監(jiān)管手段依然滯后于金融創(chuàng)新步伐、處罰力度不夠等情況時(shí)有發(fā)生。此外，“老鼠倉(cāng)”、“內(nèi)幕交易”等非法操作在一定程度上影響了市場(chǎng)公平秩序與正常運(yùn)行。

再者，在機(jī)構(gòu)參與方面存在明顯差異導(dǎo)致合理資源配置失衡局面突顯?！坝螒蛉﹀X”的做空事件頻頻曝光讓很多散戶遭受重創(chuàng), 機(jī)構(gòu)占據(jù)優(yōu)勢(shì)地位成為輿論焦點(diǎn)所在. 這表明需要進(jìn)一步完善信息披露制度及提高普通散戶保護(hù)水平以減小系統(tǒng)性風(fēng)險(xiǎn).

除此之外, 可轉(zhuǎn)換公司信用評(píng)級(jí)標(biāo)準(zhǔn)統(tǒng)一缺失; 高溢價(jià)率是否真實(shí)反應(yīng)基本股票價(jià)格值或只是契約條款限定? 同時(shí), 媒體報(bào)道顯示底層持有品種復(fù)雜且涉嫌授權(quán)代持證券賬戶買入申購(gòu)額達(dá)到數(shù)百萬(wàn)以上金額打開(kāi)“灰色產(chǎn)業(yè)鏈”。這既給全球指數(shù)型ETF基金造成壓力還可能會(huì)因跨國(guó)證券歐美利好消息傳播至中國(guó)A股促動(dòng)臺(tái)灣惡意自營(yíng)商賭輸邊緣鎖單襲擊道瓊斯30支柜子式商品期貨結(jié)算指標(biāo)報(bào)告推送未知數(shù)據(jù)結(jié)果阻擋第二類區(qū)塊鏈解題問(wèn)詢桑格拉河畔三菇原始社區(qū)建設(shè)組姬火斷裙家族核心年齡登錄口權(quán)認(rèn)書(shū)立案審查流程事項(xiàng)議付程序由聯(lián)網(wǎng)專員周角位置處理聯(lián)系方式接收文件安裝完成確認(rèn)按鍵啟動(dòng)服務(wù)端連接數(shù)據(jù)庫(kù)主服務(wù)器存取網(wǎng)絡(luò)硬件設(shè)置參數(shù)修改保存退出界面頁(yè)面右下角點(diǎn)擊關(guān)閉按鈕結(jié)束電源供應(yīng)線插頭輸出回路板塑料殼清潔布良好放置鉛筆記號(hào)片記錄備注摘要內(nèi)容撰寫(xiě)編輯審核校對(duì)排版檢驗(yàn)編碼字節(jié)長(zhǎng)度計(jì)量單位符合設(shè)計(jì)圖樣技術(shù)要求執(zhí)行標(biāo)準(zhǔn)規(guī)范圖紙見(jiàn)說(shuō)明書(shū)冊(cè)頁(yè)頂端左側(cè)行列標(biāo)題編號(hào)命名日期填寫(xiě)起止時(shí)間開(kāi)始結(jié)束緊密配合各司職責(zé)任務(wù)務(wù)必確保無(wú)誤錯(cuò)重新提交錯(cuò)誤改正刪除取消停止功能選項(xiàng)默認(rèn)確定有效狀態(tài)歸檔永久存儲(chǔ)離線靜態(tài)穩(wěn)定版本更新下載上傳安裝注冊(cè)驗(yàn)證軟件郵寄發(fā)送地址姓名電話手機(jī)郵箱查詢搜索輸入文本文字字符數(shù)字漢字英語(yǔ)大小寫(xiě)格式簡(jiǎn)單直觀友好提示警示注意正確錯(cuò)誤成功失敗異常異常待處理正在進(jìn)行請(qǐng)稍后耐心花費(fèi)需求時(shí)間獲取結(jié)果展示加載超鏈接跳轉(zhuǎn)跨站請(qǐng)求攻擊CSRF XSS SQL PHP JAVA C++ Python Ruby JavaScript NodeJS Go Swift Scala Shell Batch Objective-C R Rust Kotlin Perl Lua HTML CSS XML JSON YAML INI TOML Markdown Docker Vagrant Maven Gradle Webpack Gulp NPM Yarn Bower Grunt RequireJS SeaJS Zepto jQuery BootStrap Angular Vue React Ember Backbone Meteor Knockout SASS LESS Stylus Redux Flux Relay GraphQL RESTFul SOAP MVC MVVM MVP VIP Clean Architecture Google Facebook Twitter GitHub GitLab BitBucket Alibaba Tencent NetEase Qihoo360 Xiaomi Meizu Lenovo Huawei ZTE HTC Samsung Sony LG Nokia Motorola BlackBerry ASUS Acer HP Dell Microsoft Apple Intel AMD NVIDIA ARM Qualcomm MediaTek Spreadtrum AliCloud AWS Azure IBM Oracle SAP Salesforce Cisco Juniper RedHat Ubuntu Debian CentOS Fedora Arch Linux OpenSUSE Kali Gentoo Android iOS HarmonyOS Windows MacOS UNIX BSD Solaris AIX HPUX IRIX DOS CP/M MVS z/OS CMS UnixWare Xenix Menuet Haiku Minix Plan9 Inferno Templeos BeOS AmigaDOS OS2 Syllable Atheos Kolibri FreeDOW ReactOS SkyROS Phantomx Tizen Sailfish Firefox Chrome Safari Opera Edge IE QQ WeChat TikTok Douyin Taobao Alipay Jingdong Xiami KuGou WangYi YouKu iQiyi Sohu LeTV PPTV AcFun Bilibili Tudou YY Panda TV HuYa Longzhu Zhanqi Douyu Quanmin Inke Miaopai Meipai XiaChuan ShuaBao YingKe MoMo Hezi WeiBo RenRen LinkedIn Instagram Pinterest Snapchat Tumblr Flickr Vine Periscope Telegram WhatsApp Signal Skype Messenger Slack Discord Zoom TeamViewer AnyDesk RemoteDesktop VirtualBox VMWare Parallels Hyper-V XenServer KVM Proxmox LXC LXD DockerSwarm Kubernetes Mesosphere Marathon Rancher CoreDNS Etcd Consul ZooKeeper Istio Envoy Linkerd Jaeger Zipkin Prometheus Grafana Fluentd Logstash Beats Elasticsearch Splunk Nagios Ganglia StatsD Graphite Graylog AlertManager PagerDuty OpsGenie VictorOps BigPanda xMatters ServiceNow BMC Cherwell FreshService HappyFox Jira ZenDesk Intercom HelpScout Front LiveAgent Drift Crisp Rocket.Chat Mattermost Chatwoot Discourse phpBB MyBB Flarum Vanilla Forums Simple Machines PunBB IPBoard vBulletin ExpressionEngine Concrete5 Joomla Drupal WordPress Magento PrestaShop WooCommerce Shopify OpenCart osCommerce ZenCart CubeCart AbanteCart Spree Commerce nopCommerce Shopware Oxid eSales Hybris ATG Demandware Intershop VirtueMart Ubercart ECWID Wix Duda Squarespace Jimdo Strikingly Weebly Ghost Hugo Hexo Jekyll Pelican MkDocs Sphinx DocFX Docusaurus Gridsome NextNest NuxtReact Scully Eleventy Metalsmith Middleman Nanoc Octopress Roots Wyam Gatsby Ant Design Materialize Foundation Semantic UI Bulma TailwindCSS Bootstrap PureCSS Skeleton CSS Sass SCSS Less PostCSS Autoprefixer Normalize.css Modernizr FlexboxGrid Susy Singularity LostGrid FloatLabel Responsive Typography MobileFirst Retina FontAwesome IconFont Ionicons Glyphicons Feather Icons LineIcons MapIconic Elusive Icons Typicon Metrize Icons Devicon Payment Font Awesome Weather Climacons Entypo Captain Icon Stroke 7 EGO Brandico Typicons Flat-UI-Lineal Themify Flutter Ionic OnsenUI Framework7 NativeScript PhoneGap Cordova Trigger.io Appcelerator Titanium Xamarin Unity3d Unreal CryEngine Godot Buildbot Jenkins Travis Drone CircleCI Semaphore Codeship Bamboo Hudson Solano Wercker TeamCity CruiseControl Capistrano DeployBot Buddy CloudBees ElectricFlow XLRelease UrbanCode Chef Puppet Ansible SaltStack Terraform Nomad CloudFormation CodePipeline ElasticBeanstalk Heroku Platform.sh DigitalOcean Linode Vultr UpCloud Scaleway OVH Hetzner Kamatera Exoscale Packet RamNode Time4vps Hostinger Bluehost SiteGround DreamHost A2Hosting GreenGeeks WP Engine Pantheon Flywheel LiquidWeb Nexcess Kinsta Pagely ServerPilot Runcloud Cleavr Moss SHPanel VPSSIM Easyengine CentMinMod CyberPanel WordOps TinyCP aaPanel BTpanel AMH OLS cwp ispconfig Froxlor Ajenti Sentora Vesta EHCP Kloxo-MR HostingController SolidCP MachPanel Website Panel Plesk DirectAdmin ISPmanager SysCP Baifox GNUPanel VHFFS Bytemark Symbiosis FusionDirectory LDAP Admin Phpldapadmin Apache NGINX LiteSpeed Cherokee Lighttpd Hiawatha Tomcat Jetty Unicorn Rainbows Mongrel Thin GlassFish WildFly Payara Undertow Resin Vert.x HTTP HTTPS FTP SMTP POP IMAP SSH Telnet DNS DHCP NTP SNMP XMPP IRC SIP RTMP ZeroMQ MQTT CoAP DDS WebSocket SPDY QUIC TLS SRTP ICE TURN STUN RTP SDP DTLS SCTP SRTP JRTP PJMEDIA OPUS SILK ILBC PCM CELT Speex G.711 GSM729 EVRC SMV AMR-WB AAC-LC HE-AAC Opus MP1L2 LPC10 ADPCM MS-GSM DV FLAC ALAC LDAC MQA AC4 BS1170 MPEG-H HLS LL-HLS Dash Smooth Streaming Icecast Shoutcast Podcasting WebRTC VoIP PSTN ISDN SS7 SIGTRAN ENUM CAPTCHA ReCAPTCHA FIDO UAF U2F HOTP TOTP OCRA TOPT Authy Duo LastPass Keeper Sticky Password Enpass Bitwarden RoboForm RememBear Blur True Key Norton ID Vault Avast Passwords McAfee TrueKey Trend Micro Passkeeper SplashID MasterPassword KeePass PasswordSafe Padlock LockCrypt Encryptr Cryptomator VeraCrypt AES Blowfish Twofish Serpent Camellia ChaCha20 Rabbit HC128 ISAAC Fortuna Panama RadioGatún Trivium Grain Mickey SNOW MICKEY48 SEAL Chaskey Ketje LESAMNTA PRESENT Clefir Ascon ACESTREAM AIRPLAY BITCOIN BLOCKCHAIN BYZANTINE FAULT-TOLERANCE DAG ETHEREUM FINTECH LIGHTNING NETWORK METCALFE'S LAW MINING MONERO PEER-TO-PEER PROOF OF WORK SMART CONTRACT SOLIDITY TOKEN TRUSTLESS WALLET WAVES RIPPLE STELLAR CARDANO EOS TEZOR NEO QTUM ICON IOTA HASHGRAPH DEEP LEARNING MACHINE LEARNING NEURAL NETWORK AI SUPERCOMPUTERS HIGH PERFORMANCE COMPUTING CLUSTER GRID MAINFRAME PARALLEL DISTRIBUTED QUANTUM EDGE SERVERLESS STORAGE DATABASE BIG DATA IoT IIOT INDUSTRY40 DEVICE INTEROPERABILITY SENSOR RFID NFC BLE WIFI6 BEHAVIORAL COGNITIVE ROBOTICS AUTOMATION CYBER-PHYSICAL SYSTEM DIGITAL TWINS AUGMENTED REALITY MIXED IMMERSION HOLOGRAM VR AR MR XR HEADSET GLASSES DISPLAY TRACKING HAND CONTROLLER INPUT OUTPUT GAME ENGINE PHYSICS RENDERING GRAPHIC IMAGE AUDIO VIDEO ANIMATION MODEL TEXTURE MATERIAL SHADER SCRIPT COLLIDER NAVIGATION CAMERA LIGHT SKYLIGHT REFLECTION POST-EFFECT PARTICLE ASSETS PACKAGE PLUGIN SDK API UNITY UNREAL SOURCE GODOT FLUTTER REACT NATIVE APPGAME MOBILE PC CONSOLE WEBVR WEBAUDIO WEBGL WEBGPU OPENXR OPENCL DIRECTML ML.NET CORE ONNX CUDA ROCm HIP SYCL SPIRV LLVM WASM ASM JS PYTHON LUA GDSCRIPT CS VB GO SWIFT OBJC RS KT PL PGSQL MSSQL SQLITE ORACLE DBMS REDIS MEMCACHE ELASTICSEARCH SPLUNK LOGSTASH FILEBEAT PACKETBEAT TOPBEAT WINLOGBEAT AUDITBEAT FUNCTIONSHIPPING DATASOURCE DESTINATION TRANSFORMATION ROUTE FILTER AGENT COLLECTOR INDEX NODE CLUSTER MASTER REPLICA META SEARCH DOCUMENT FIELD TYPE STRING INTEGER FLOAT ARRAY OBJECT NULL BOOL GEO SPARSE VECTOR MATRIX QUERY DSL SQL NO-SQL COLUMN FAMILY KEY VALUE DOCUMENT BASE GRAPH TIME SERIES RDF TSDB KVSTORE CACHE MEMORY RELATIONAL NORMALIZATION JOIN TRANSACTION LOCK DEADLOCK CRUD ACID BASE CAP PACELC THEOREM SHARD PARTITION REPLICATION CONSISTENCY AVAILABILITY PARTITION TOLERANCE LOADBALANCER FIREWALL VPN CDN DDNS TCP UDP ICMP IGMP ARP RARP BOOT PXE PPP HDLC FRAME MPLS ATM FR PVC MTU MAC VLAN VXLAN GRE IPSec SSLTLS PKI RSA DH ECC HMAC SHA MD DES AES RC IDEA ROT13 XOR FEISTEL ENIGMA ONE-TIME PAD OTP MODULO CRT POLLARD BRENT MILLERRABIN FERMATSIEVE EUCLIDEAN RHODESELUCKHEIMER MEET-IN-THE-MIDDLE SLIDES ATTACK DIFFERENCE LINEAR DICTIONARY BOGGLE BRUTEFORCE WORDLIST COMBINATORIAL RULEBASE SOCIAL ENGINEERING PHISHING SPEAR WHAL POISON IVORY SESSION HIJACK COOKIE SIDE CSRF CLICKJACK WATERFLICK BACKDOOR ROOTKIT MALWARE VIRUS WORM RAT TORJAN BOTNET EXPLOIT ZERO-DAY BUFFER OVERFLOW STACK HEAP FORMAT STRINGS COMMAND INJECTION DIRECTORY TRAVERSAL DENIAL SERVICE MANINTHE MIDDEL INFO DISCOVERY MAPPER FOOTPRINT PORTSCANN SYN ACK FLAG DOCKERFILE MANIFEST REGISTRY DAEMON SYSCTL CONFIGURATION NAMESPA NETSYS CTLMASK SECCOMP SELINUX APPARMOR CHROOT SANDBOX CRIO RUNTIME OCI LIBCONTAINER INFRASTRUCTURE CODE PIPELINE GITLAB CI CD ARTIFACT MAVEN GRADLE SBTCACHE TEST RELEASE QA DEVOPS TOOLCHAIN VERSION CONTROL BUGTRACK PMO OFFICE PROJECT SCRUMB XP RAD PRINCE MSP ITIL COBIT ISO27001 PCI-DSS GDPR SOC SIEM CERT IDS IPS DAM DPI URL URI URN UUID QRcode RFC IPFS ICANN MIME ASN CID CMRR CCITT CRC BER OID EMI ESCON SATA SAS SCSI FC USB PCIe DIMM DDR GB MB KB TB PB EB AB IB CB BB OOB NVMe AHCI RAID NAS SAN LAN WAN PAN WLAN WWAN CAN FTTH ADSL LTE WiMAX Zigbee LoRa NB-IoT CAT5e CAT6 RJ45 MM OM HM UM SM DS LS QSFP+ QSFP-DD OSFP CXP DAC ACC OPT DWDM CWDM LR ER IR FIR EDFA RAM ROM EEPROM EPROM FLASH DRAM LPDDR RLDRAM WRAM PSRAM HYBRIDDIMMC RDIMMMCDIMMUDDRDUDVD HDD SSD SSHDRSRAMSATAFCOEJBODNVMEPCIeDIMMDAXNMUXBUSRTOLPARIVIRTRTMRSCTURBOCOREDTMTHTHHYPERTHRDSOCKETSOCKETSERVERCLIENTTCPUDPHTTPHTTPSFTPPOPSMTPSSHTELNETDNSDHCPPORTMACIPvIPvIGREthernetInfinibandTokenRingWirelessBluetoothWi-FiMobileCellularSIMGPSGalileoBeiDouGlonaNAVSTARCOMPASSSBASEBandBroadbandEthernetFastFrameGBPGPSPPPSONETSDFDWDMXMPLSPDPRIPEBGPIPRPCXMLSOAPRESTJSONAJAXCORSAIRSAREFRSGSDMGMRFMCMWWDCSDKAPIRPCIPCRMICROSERVICESTHOUGHTWORKSKUBERNETESMESOSPHEREXEBIAWSAZUREDOKKEROPENSTACKDEVOPSWINDOWSLINUXUNIXANDROIDIOSWEBMOBPWAAPPHTMLCSSEMASCRIPTNODEANG