Kunzwisisa Kusiyana uye Kufananirana Pakati Pechibvumirano neKushandura
Zvikwereti ndezvowakanyanya chikwereti chinoshandiswa nemakambani. Asi kune rumwe rudzi rwechiridzwa, inozivikanwa sekukweretesa, iyo inowanzoshamisa asi inoshanda zvakasiyana nezvisungo zvese.
Kushandiswa kwemabasa kunoshanda nenzira yakafanana nemabhadharo ezvetsika, kunze kwekuti ivo havakwanisi kuchengetedzwa nekutengesa kana zvimwe zvinhu. Pane kudaro, vanhu vanotenga kusungurudzika zvisungo pamusoro wekufungidzira kuti wakwereta anovimbika kukwana kubhadhara. Mune mamwe mazwi, uyo anokweretesa anongotora chikwereti "akanaka kune iyo."
Semashoko, zvisungo uye kukanganisa zvinowanzoshandiswa zvakasiyana. Chisungo chimiro chekukweretesa, asi kwete zvose kukanganisa kune zvisungo. Zvinokwanisika kuti wega wekusimba wekutsvaga kutenga zvikwereti kuburikidza nekambani yezvekwereti, sekuita semamwe masimba.
Akachengeteka uye asina Kudzivirirwa
Kuti unzwisise zvinokonzera kukanganisa, zvinobatsira nenzira dzakasiyana-siyana iyo makambani anogona kukwereta mari. Chikwereti "chakachengetedzwa" chimiro chechisungo chinotsigirwa nechimwe chinhu. Chikwata chekutengesa, somuenzaniso, chinotsigirwa nenyika kana chivako. Makambani anogonawo kufambisa zvinhu zvisungo zvinotsigirwa nemichina inenge iine.
Chimwe chikwereti, zvisinei, chinonzi "chisina kuchengeteka." Munyaya iyi, vateresi vanoda kutenga zvisungo nekuda kwekuti vanovimba nevakwereta.
Makambani makuru ane mari yakawanda uye mari yakanaka yekuyerera-uye chikwereti chakanaka chechikwereti chinouya neicho-chinowanzobva chapa chikwereti chisina kuchengetedzwa. Kusava nemhosva kunongova imwe chete izwi kune chikwereti chisina kuchengetwa.
Makambani makuru ane mazano akanaka echikwereti anowanzobudisa zvikwereti panzvimbo yezvisungo zvakasungwa-sungwa nokuti vangasada kusungira zvinhu zvavo kana vasingafaniri.
Zvisinei, kune dzimwe mamiriro apo kambani inokonzera kubhadhara nokuti yese yezvimwe zvinhu zvayo iri kushanda sechikwata kune zvimwe zvikwereti. Muchiitiko ichi, kukweretesa kunogona kuva dambudziko guru kune mutyairi.
US bondory bonds ingangove iyo inowanzove yakawanda yezvikwereti. Pakati pevatengesi, pane zvishoma zvichityira kuti hurumende yeUnited States ichazombopererwa nemari yako. Nokudaro, hurumende inogona kubvisa kukanganisa, uye vatengi vanozovatenga chete nokuti vanovimba nehurumende yekukwanisa kuvadzosa zvakare.
Convertible uye Non-Convertible Debentures
Mune zvimwe zviitiko, kambani inobvumira mutengesi kuti achinje kudzvinyirira kwavo muzvikamu zvekambani. Izvi zvinoita kuti vave sarudzo inofadza kune vashandi vekutsvaga nokuti vanogona kuwana kuenzana mukambani.
Kune marudzi akasiyana ekushandura madhenari. Vamwe vanongopa mubhadharo sarudzo yekushandura chikwereti chacho muhutano pane imwe nguva. Izvi zvinowanzoitika apo mumwe mukoti anotenga chikwereti chekambani itsva uye haana chokwadi kana vachida kugoverana panguva iyo kukweretesa kunokura.
Mune dzimwe nguva, kambani inomanikidza kutendeuka kwekutengesa kune zvikamu zvekambani. Iko kunewo chikamu chekutengesa kusununguka, umo mune imwe chikamu chekutengesa kunoshandurwa kuva chiyero apo vamwe vose vanodzikinurwa mumutambo wakafanana.
Nekutendeuka kwekutendeuka, pane imwe njodzi pamativi ose maviri. Kune kambani, pane ngozi mukubvumira kudzvinyirira kuchinjwa kuva chigadzirwa nokuti kunogona kuderedza uwandisi hwekambani. Kune mutyairi, pane njodzi nokuti kukanganisa hakuchengeteki uye vanogona kuguma vasina chinhu kana kambani inopinda pasi.
Kana Kambani Inobata Bhete Kumusoro
Nguva imwe neimwe kamwe mune imwe nguva, kambani ichabuda kunze kwebhizimisi uye iyo inenge ichatsvaga. Muchiitiko ichi, pane kazhinji mutemo kune vatengi vanobhadharwa zvakare. Vaya vakatenga chikwereti chakachengetwa vachabatwa nekutarisirwa kwekutanga, kuteverwa nevaya vakatenga zvikwereti. Vashandi vanowanzotora mumutsara.
Nokudaro, pane mungozi yekutenga madhenari pamusoro pemari yakachengetwa, ndicho chikonzero chakawanzoonekwa pakati pekambani dzine kukwereta kwekwereti.
Kunoshandiswa kunze kweUnited States
Mune dzimwe nzvimbo dzenyika, izwi rokuti "debenture" rinoshandiswa zvakasiyana.
MuGreat Britain, kudzvinyirira inongova izwi rekuchengetedzwa kwemazuva mazhinji nehuwandu hwechikwata chekuda, inotsigirwa nekambani yemari. (Nemamwe mazwi, inonzi "yakachengeteka" chikwereti ikoko.)
Uyezve, izwi rokuti "kubhadhara" rakashandiswa zvakare mumutambo wenyika. Matanda muEngland, kunyanya, akabudisa madhenari kuti vabatsire mari yekuvaka, uye avo vanogamuchira chikamu chekutonga kwechikwata kana matikiti.