Reinvestment Rate

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。

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。

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。