There is therefore a reinvestment rate risk if the bond is held until coupons are received. 因此如果一直持有债券到收到息票为止,就存在着再投资率风险。
If the reinvestment rate is lower than the redemption yield, the opposite is true. 如果再投资率比回购率低,反之亦然。
In allusion to the reason of the conflict between NPV and IRR, this paper thinks reinvestment rate theory cant explain it well. 针对净现值(NPV)与内部收益率(IRR)的非自洽性问题,认为再投资收益率说并不能很好地解释NPV与IRR非自洽的原因。
All coupon-bearing bonds carry this reinvestment rate risk to a greater or lesser extent& the higher the coupon the greater the risk. 所有生息债券都或多或少带有这种再投资率风险&利息越高风险越大。