但是，处于破产过程成本的考虑，企业为什么喜欢发行高收益债券（除了与税收系统周旋的原因之外 ） 、 投资者为什么喜欢购买高收益债券，而不采用股票发行和购买的方式还并没有水落石出。
But, given the costs of the bankruptcy process, it has never been clear why a business would rather issue high-yield bonds (besides gaming the tax system), or why investors would rather buy them than take an equity stake.