排序方式： 共有72条查询结果，搜索用时 62 毫秒
51.
盛鹏 《安徽工业大学学报(社会科学版)》2003,20(4):60-61
法的运作主要包括立法、执法、守法和法律监督四个环节。邓小平的法治思想宝库中对其论述尤为精 辟,这对我国的法治建设具有指导性意义。 相似文献
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This study provides new insights into certain recent developments in derivatives trading in India. Specifically, it examines the implications of introduction of short-selling for pricing efficiency of the Nifty 50 index derivative contracts of National Stock Exchange of India. The empirical results suggest that the introduction of short-selling, supported by a well-functioning security lending and borrowing market, has significantly reduced the overpricing of Nifty 50 index put options. Moreover, the introduction of this short-selling mechanism has lessened the underpricing of Nifty 50 index futures. 相似文献
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James R. Barth Daniel E. Page R. Dan Brumbaugh Jr. 《The Journal of Real Estate Finance and Economics》1992,5(2):151-166
In this article we examine the information that stock prices provide about the financial condition of federally insured thrift institutions. In order to assess their financial condition from the different perspectives of stockholders and the federal insurer, we calculate the value of the put option of federal deposit insurance available to thrift institutions. Our results demonstrate that the two perspectives often provide, particularly for unhealthy institutions, quite different views of the financial condition of individual institutions. 相似文献
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基于期权理论的公司价值分析 总被引：1，自引：0，他引：1
作为金融学重要理论之一的期权理论已经被广泛应用于公司财务中,而现代公司制的特有属性使得其具有期权的特性,因此我们可以从期权的角度对公司价值进行分析。本文正是将期权理论与公司制的属性进行结合,分别从买权理论和卖权理论两方面对公司价值进行详细分析。 相似文献
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巨灾权益卖权 (Catastrophe Equity Put,CatEPut)是一种以保险公司股票为交易标的的期权,用以规避保险公司因支付大量的巨灾损失赔偿而引起公司股票价值下降的风险.本文旨在从巨灾权益卖权的市场发展、设计原理、运行机制、典型实例和定价模型等角度,来对这一创新型巨灾风险融资工具进行系统梳理. 相似文献
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当前煤炭经济形势紧张,这对物流模式提升提出了更高要求。如何提升平禹煤电这样的传统煤炭企业的物流模式,避开提升中的困难,制定物流规划和提升路径是文章研究的问题。 相似文献
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存款保险定价是存款保险制度建设中的核心内容,保险定价效率直接影响制度的功效。碍于现金流贴现估价模型的局限性,本文从期权的角度阐述了存款保险的期权特性,指出存款保险合同实质上就是一份看跌期权,从理论和实证两方面论述了如何运用B-S期权定价模型确定存款保险价格的问题,对实践中存款保险的合理定价和制度建设具有重要的指导意义。 相似文献
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We present a novel method for extracting the risk-neutral probability of default (PD) of a firm from American put option prices. Building on the idea of a default corridor proposed by Carr and Wu, we derive a parsimonious closed-form formula for American put option prices from which the PD can be inferred. The method is easy to implement. Our empirical results based on seven large US firms for the period 2002–2010 show that, in some cases, our option-implied PD can provide a more accurate estimate of default probability than the estimates implied from credit default swaps. 相似文献
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Contingent capital (coco) automatically recapitalizes the banking system during financial crises if the trigger mechanism is properly designed. We propose a dual trigger mechanism based on: (1) aggregate systemic risk in the banking system, measured using CATFIN, and (2) the individual bank’s contribution to overall systemic risk, measured using delta CoVaR. The dual trigger is highly correlated with system-wide insolvency risk and prices systemic risk. We set different triggers for banks, insurance companies and broker-dealers. Using the 99% cut-off, systemic coco issued by Lehman and Bear Stearns would have been triggered in November 2007, months prior to their actual demise. 相似文献