兩個問題想請教

[jerry7271]

大家好，小弟有兩個問題一直想不通，希望有高手可以解惑，謝謝。

1. 債券交易商買或賣債券的價格差異都很(非常)低。 也就是說，她們都願意出售債券的價格僅稍微略高於購買價格。 但是像2手車商買或賣2手車的價格差異都比較高。 請問這是為什麼呢？ 好像有關於capital market efficiency，但就是想不通

2. A公司生產泳衣，夏季有高達65%的營運利潤。 公司必須提高資本以便支付未來的產能擴張，且公司已經決定發行股票來達成。 但公司的主管卻考慮是否要等到夏季的到來再發行，如此一來，當夏季的營運利潤達到最高時，股價也會比較高。 哪一種比較好？

[agk99]

1. Low Price Spread mean capital market efficiency, that is true, the more efficient of the market is, the lower spread you will get.
2. in practice, issuers always issue stock or raise capital when their stock price is high, however, when they get fundings after issuing stock, they have no adequate time to expand their business. in case of this situation, the issuer (the company) always ask the investment banks to boost the stock price and then issue the stock to raise proceeds, that is what IB do in this world.

[jerry7271]

謝謝！！！