| 基于期权定价理论的所有者与债权人代理问题分析 |
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| 引用本文： | 郭景先.基于期权定价理论的所有者与债权人代理问题分析[J].财会通讯,2007(8). |
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| 作者姓名： | 郭景先 |
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| 作者单位： | 山东理工大学管理学院 山东淄博 |
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| 摘 要： | 所有者和债权人之间的代理关系是现代公司治理的重要要素,如何理解和处理二者之间的关系成为社会关注的核心。本文从期权角度对所有者与债权人之间的代理关系进行新的理解,并分别介绍了无风险套期保值、B-S期权定价理论模型的具体运用以及保护债权人利益的具体措施。
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| 关 键 词： | 无风险套期保值 股票价值 代理关系 期权定价理论 |
Analysis of the Agency Relationship between Shareholders and Creditors based on Option Pricing Theories |
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| Guo Jingxian.Analysis of the Agency Relationship between Shareholders and Creditors based on Option Pricing Theories[J].Communication of Finance and Accounting,2007(8). |
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| Authors: | Guo Jingxian |
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| Abstract: | The agency relationship of shareholders and creditors is an important factor in the modern company governance.How to comprehend and deal with their relationship is the core.This paper makes new comprehension about the relationship between shareholders and creditors from the angle of option pricing theories,also introduces the application of risk-free hedge and B-S option pricing theories model and strategies to protect the creditors' benefit. |
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| Keywords: | Risk-free hedge Stock value Agent relationship Option pricing theories |
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