{"id":30046,"date":"2023-12-07T08:54:08","date_gmt":"2023-12-07T08:54:08","guid":{"rendered":"https:\/\/masterskills.org\/blog\/chung-khoan-cua-cong-ty-sap-pha-san-distressed-security-la-gi-dac-diem.html"},"modified":"2023-12-23T06:11:27","modified_gmt":"2023-12-22T23:11:27","slug":"chung-khoan-cua-cong-ty-sap-pha-san-distressed-security-la-gi-dac-diem","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/chung-khoan-cua-cong-ty-sap-pha-san-distressed-security-la-gi-dac-diem.html","title":{"rendered":"Ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n (Distressed Security) l\u00e0 g\u00ec? \u0110\u1eb7c \u0111i\u1ec3m"},"content":{"rendered":"
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\u1ea2nh minh h\u1ecda. Ngu\u1ed3n: Investopedia.<\/p>\n<\/div>\n<\/div>\n

Ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n<\/font><\/b><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

Ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n<\/b> trong ti\u1ebfng Anh l\u00e0\u00a0Distressed Security.<\/b><\/p>\n

Ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n<\/b> l\u00e0 c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh b\u1edfi m\u1ed9t c\u00f4ng ty g\u1ea7n ph\u00e1 s\u1ea3n ho\u1eb7c hi\u1ec7n \u0111ang trong giai \u0111o\u1ea1n ph\u00e1 s\u1ea3n. M\u1ed9t ch\u1ee9ng kho\u00e1n c\u0169ng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c coi l\u00e0 ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n, n\u1ebfu n\u00f3 kh\u00f4ng duy tr\u00ec \u0111\u01b0\u1ee3c c\u00e1c ngh\u0129a v\u1ee5 t\u00e0i ch\u00ednh nh\u1ea5t \u0111\u1ecbnh (v\u00ed d\u1ee5: ngh\u0129a v\u1ee5 n\u1ee3 ho\u1eb7c ch\u1ee9ng kho\u00e1n, nh\u01b0 kh\u1ea3 n\u0103ng duy tr\u00ec t\u1ec9 l\u1ec7 t\u00e0i s\u1ea3n tr\u00ean n\u1ee3 th\u1ea5p, ho\u1eb7c duy tr\u00ec x\u1ebfp h\u1ea1ng t\u00edn d\u1ee5ng). <\/p>\n

Do c\u00f4ng ty ph\u00e1t h\u00e0nh kh\u00f4ng \u0111\u00e1p \u1ee9ng \u0111\u01b0\u1ee3c c\u00e1c ngh\u0129a v\u1ee5 t\u00e0i ch\u00ednh c\u1ee7a n\u00f3, gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh n\u00e0y b\u1ecb gi\u1ea3m \u0111\u00e1ng k\u1ec3. Tuy nhi\u00ean, v\u00ec \u1ea9n ch\u1ee9a nh\u1eefng r\u1ee7i ro ti\u1ec1m \u1ea9n, ch\u00fang c\u00f3 th\u1ec3 s\u1ebd \u0111em l\u1ea1i ti\u1ec1m n\u0103ng l\u1ee3i nhu\u1eadn cao cho c\u00e1c\u00a0nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 kh\u1ea9u v\u1ecb r\u1ee7i ro cao. Ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n c\u00f3 th\u1ec3 t\u1ed3n t\u1ea1i d\u01b0\u1edbi h\u00ecnh th\u1ee9c\u00a0c\u1ed5 phi\u1ebfu ph\u1ed5 th\u00f4ng\u00a0v\u00e0\u00a0c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i,\u00a0n\u1ee3 ng\u00e2n h\u00e0ng, khi\u1ebfu n\u1ea1i th\u01b0\u01a1ng m\u1ea1i v\u00e0\u00a0tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p.<\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m c\u1ee7a Ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n<\/font><\/b><\/h3>\n

Ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n th\u01b0\u1eddng h\u1ea5p d\u1eabn c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang t\u00ecm ki\u1ebfm m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 h\u1eddi v\u00e0 s\u1eb5n s\u00e0ng ch\u1ea5p nh\u1eadn r\u1ee7i ro. Trong m\u1ed9t s\u1ed1 tr\u01b0\u1eddng h\u1ee3p, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00e0y tin r\u1eb1ng t\u00ecnh h\u00ecnh c\u1ee7a c\u00f4ng ty kh\u00f4ng t\u1ec7 nh\u01b0 v\u1ebb b\u1ec1 ngo\u00e0i c\u1ee7a ch\u00fang v\u00e0 do \u0111\u00f3, h\u1ecd d\u1ef1 \u0111o\u00e1n c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd s\u1ebd t\u0103ng gi\u00e1 tr\u1ecb theo th\u1eddi gian.\u00a0<\/p>\n

Trong c\u00e1c tr\u01b0\u1eddng h\u1ee3p kh\u00e1c, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 th\u1ea5y tr\u01b0\u1edbc c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n, nh\u01b0ng h\u1ecd c\u1ea3m th\u1ea5y t\u1ef1 tin r\u1eb1ng c\u00f3 th\u1ec3 c\u00f3 \u0111\u1ee7 ti\u1ec1n \u0111\u1ec3 thanh l\u00ed ch\u1ee9ng kho\u00e1n \u0111\u1ec3 b\u00f9 \u0111\u1eafp l\u1ea1i kho\u1ea3n ti\u1ec1n \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c ch\u1ee9ng kho\u00e1n m\u00e0 h\u1ecd \u0111\u00e3 mua.<\/p>\n

Tuy nhi\u00ean trong nhi\u1ec1u tr\u01b0\u1eddng h\u1ee3p, c\u00e1c c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n ph\u00e1t h\u00e0nh ch\u1ee9ng kho\u00e1n cu\u1ed1i c\u00f9ng v\u1eabn n\u1ed9p \u0111\u01a1n xin ph\u00e1 s\u1ea3n. Do \u0111\u00f3, c\u00e1c c\u00e1 nh\u00e2n quan t\u00e2m \u0111\u1ebfn vi\u1ec7c \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c ch\u1ee9ng kho\u00e1n n\u00e0y c\u1ea7n xem x\u00e9t nh\u1eefng g\u00ec s\u1ebd x\u1ea3y ra trong tr\u01b0\u1eddng h\u1ee3p ph\u00e1 s\u1ea3n.\u00a0<\/p>\n

Trong h\u1ea7u h\u1ebft c\u00e1c v\u1ee5 ph\u00e1 s\u1ea3n, v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu, ch\u1eb3ng h\u1ea1n nh\u01b0 c\u1ed5 phi\u1ebfu ph\u1ed5 th\u00f4ng, tr\u1edf n\u00ean v\u00f4 gi\u00e1 tr\u1ecb, khi\u1ebfn vi\u1ec7c \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n tr\u1edf n\u00ean v\u00f4 c\u00f9ng r\u1ee7i ro. Tuy nhi\u00ean, c\u00e1c c\u00f4ng c\u1ee5 n\u1ee3 cao c\u1ea5p, ch\u1eb3ng h\u1ea1n nh\u01b0 n\u1ee3 ng\u00e2n h\u00e0ng, khi\u1ebfu n\u1ea1i th\u01b0\u01a1ng m\u1ea1i v\u00e0 tr\u00e1i phi\u1ebfu, l\u1ea1i c\u00f3 th\u1ec3 mang l\u1ea1i m\u1ed9t s\u1ed1 kho\u1ea3n l\u00e3i.<\/p>\n

C\u1ee5 th\u1ec3, n\u1ebfu doanh nghi\u1ec7p ph\u00e1 s\u1ea3n d\u01b0\u1edbi h\u00ecnh th\u1ee9c ng\u1eebng ho\u1ea1t \u0111\u1ed9ng v\u00e0 thanh l\u00ed t\u00e0i s\u1ea3n, t\u1ea1i th\u1eddi \u0111i\u1ec3m \u0111\u00f3, t\u00e0i s\u1ea3n c\u1ee7a n\u00f3 \u0111\u01b0\u1ee3c ph\u00e2n ph\u1ed1i cho c\u00e1c ch\u1ee7 n\u1ee3, bao g\u1ed3m c\u1ea3 c\u00e1c tr\u00e1i ch\u1ee7. Ng\u01b0\u1ee3c l\u1ea1i, n\u1ebfu doanh nghi\u1ec7p ph\u00e1 s\u1ea3n d\u01b0\u1edbi h\u00ecnh th\u1ee9c t\u00e1i c\u01a1 c\u1ea5u kinh doanh v\u00e0 ti\u1ebfp t\u1ee5c ho\u1ea1t \u0111\u1ed9ng, th\u00ec n\u1ebfu t\u1ed5 ch\u1ee9c l\u1ea1i th\u00e0nh c\u00f4ng, ch\u1ee9ng kho\u00e1n c\u0169 \u0111\u00e3 ph\u00e1t h\u00e0nh c\u1ee7a n\u00f3, bao g\u1ed3m c\u1ea3 c\u1ed5 phi\u1ebfu v\u00e0 tr\u00e1i phi\u1ebfu, c\u00f3 th\u1ec3 b\u1ea5t ng\u1edd mang l\u1ea1i s\u1ed1 ti\u1ec1n l\u00e3i \u0111\u00e1ng k\u1ec3.<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n<\/font><\/b><\/h3>\n

Ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh khi c\u00f4ng ty ph\u00e1t h\u00e0nh ch\u00fang kh\u00f4ng \u0111\u00e1p \u1ee9ng \u0111\u01b0\u1ee3c nh\u1eefng ngh\u0129a v\u1ee5 t\u00e0i ch\u00ednh. Trong h\u1ea7u h\u1ebft c\u00e1c tr\u01b0\u1eddng h\u1ee3p, c\u00e1c ch\u1ee9ng kho\u00e1n n\u00e0y \u0111\u01b0\u1ee3c x\u1ebfp h\u1ea1ng t\u00edn d\u1ee5ng CCC b\u1edfi c\u00e1c t\u1ed5 ch\u1ee9c x\u1ebfp h\u1ea1ng t\u00edn d\u1ee5ng nh\u01b0\u00a0S&P\u00a0ho\u1eb7c\u00a0Moody. Ch\u1ee9ng kho\u00e1n n\u00e0y t\u01b0\u01a1ng ph\u1ea3n v\u1edbi\u00a0tr\u00e1i phi\u1ebfu r\u1ee7i ro cao\u00a0(th\u01b0\u1eddng c\u00f3 x\u1ebfp h\u1ea1ng t\u00edn d\u1ee5ng BBB ho\u1eb7c th\u1ea5p h\u01a1n).<\/p>\n

Th\u00f4ng th\u01b0\u1eddng, t\u1ec9 l\u1ec7 ho\u00e0n v\u1ed1n d\u1ef1 ki\u1ebfn \u0111\u1ed1i v\u1edbi lo\u1ea1i ch\u1ee9ng kho\u00e1n n\u00e0y cao h\u01a1n 1.000\u00a0\u0111i\u1ec3m c\u01a1 b\u1ea3n\u00a0(1 \u0111i\u1ec3m c\u01a1 b\u1ea3n t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 0,01%) so v\u1edbi t\u1ec9 l\u1ec7 ho\u00e0n v\u1ed1n c\u1ee7a m\u1ed9t t\u00e0i s\u1ea3n phi r\u1ee7i ro, v\u00ed nh\u01b0 t\u00edn phi\u1ebfu ho\u1eb7c tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9. V\u00ed d\u1ee5: n\u1ebfu l\u1ee3i su\u1ea5t c\u1ee7a tr\u00e1i phi\u1ebfu kho b\u1ea1c 5 n\u0103m l\u00e0 1%, tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p s\u1eafp ph\u00e1 s\u1ea3n c\u00f3 t\u1ec9 l\u1ec7 ho\u00e0n v\u1ed1n t\u1eeb 11% tr\u1edf l\u00ean. <\/p>\n

(Theo\u00a0Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00f4ng ty s\u1eafp ph\u00e1 s\u1ea3n (ti\u1ebfng Anh: Distressed Security) l\u00e0 c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh b\u1edfi m\u1ed9t c\u00f4ng ty g\u1ea7n ph\u00e1 s\u1ea3n ho\u1eb7c hi\u1ec7n \u0111ang trong giai \u0111o\u1ea1n ph\u00e1 s\u1ea3n.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30046"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30046"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30046\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}