This is my understanding. Usually a company has 3 types of capital: debt, preferred stock, common stock. In terms of ownership the equity holders ( common stock holders) own the company. We say they borrow from the debt holders: in return they pay interest and principle to the debt holders down the road. In the case of bankrupcy, debt holders have priority over preferred holders, preferred have priority over common, etc. (note all debt are not euqal too, some are senior than others, some are sec
【在 f****t 的大作中提到】 : 为什么国有化后,stock 就 wipe out 了? : 或者说,如何定义国有化? : (破产了,是不是stock肯定就wipe out 乐?)