股票挂钩产品的设计、定价和避险原理

作为结构化商品的一种，与股票或股票指数挂钩的股票挂钩产品目前在国内外发展迅速，已经实现多个交易所上市交易。本结合境外、尤其是港台市场情况，从发行人的角度，围绕股票挂钩产品的设计、定价和避险原理，分析了其产品结构、收益性质、设计模式、定价原则、避险方式及避险工具等内容。

Design, pricing and Risk Evasion of ELPs

As a structured security, equity-linked products grow rapidly worldwide and some of them are publicly traded on the exchanges. This paper is a review of Taiwan and Hong Kong markets, from the perspective of issuers, regarding product design, pricing and risk evasion. It also analyzes such issues like product structure, profit characteristics, design model, pricing principle, risk evasion and its instruments