垃圾债券：一种有前景的商业冒险金融工具

人们富裕程度的提高、投资者与创业者冒险欲望的增长、科技产业的发展和知识经济的风险本质，使垃圾债券成为一种富有前景的商业冒险金融工具。阐述了垃圾债券的产生背景、功能优势与缺陷、重要应用和发展前景。

Junk Bonds: A Financial Means With a Bright Future for Business Venturing

Junk bonds is a financial means with a bright future for business venturing due to the fact that people are becoming more and more prosperous,that investors and enterprisers are growing more and more venturous,that technology industries are further developing,and that the essence of knowledge economy is full of risk. This paper expounds the background of junk bonds’ emergence, its fuctional advantages and defects,and its prime applications and prospects of development.