金融产品定价

投资收益率的统计分布是证券投资组合、金融产品定价和风险管理的基础，因此是金融经济学的非常重要的问题。

The distribution of return is an important problem in financial economics because it is the basis of portfolio selection , asset pricing and risk management .

选择利率期限结构理论的原因在于：一方面，它能够为金融产品定价、保值和风险管理提供基准；

The reasons for choosing term structure theory as the method are like these . At one hand , it is the foundation of asset pricing , financial products design , hedging and risk management , arbitraging and investment .

金融产品的定价方法，目前国外金融界用得较多的是需求差别定价法。

As for pricing of financial product or service , demand differential pricing is widely adopted in foreign financial circles at present .

本文所采用的Cop-ula方法是近年来出现用以捕捉随机变量之间相依结构的方法，在风险控制，金融衍生产品定价中的应用颇受重视。

The Copula method is used to capture the dependence between random variants and it is important in risk control and pricing financial derivatives .

此类问题在人口预测与控制，多孔介质流体力学，以及金融衍生产品定价等许多应用科学领域有重要意义。

Such kinds of problems have great significance in the fields of population prediction and control , porous media fluid mechanics , financial mathematics and other applied science .

没有发达的短期国债市场，金融产品的定价就失去了衡量标准，而非理性的定价很容易产生价格扭曲。

Without a developed short-term bond market , we can 't find a criteria for the pricing of financial products , price distortions will be caused by irrational pricing .

第二章，主要介绍了黄金挂钩型理财产品的概念和分类，并对本文所涉及到的金融衍生产品定价理论做了大致的介绍。

Chapter two : introduced the concept and classification of the gold linked structured product , and made a general introduction to the derivatives pricing theory involved in this paper .

国内外大多数的信用风险研究，都是集中在信用风险的微观分析方面，主要目的是用于金融产品的定价，以及金融机构风险管理的实践。

Most domestic and foreign credit risks research concentrates on microscopic analysis of credit risks , with the main purpose of pricing the financial products and financial organ risk management practice .

因为，它不仅对研究市场的微观结构、投资者行为具有重要的意义，同时也是金融衍生产品定价的基础。

Being the basis for pricing the financial derivative products , it can be of great importance both in the research of market microstructure and the research of investors ' behaviors .

再次，运用量本利分析法，说明消费金融产品的定价与风险，并在前文的基础上分析了消费金融公司消费贷款业务在同类业务竞争中的比较优势。

Next , use the amount of principal and interest analysis , that the pricing of consumer financial products and risk ; previous paper , based on the analysis of competition in its business in the same comparative advantages .

文章的第三部分介绍了我国商业银行在利率市场化背景下的机遇和挑战、金融产品的定价、利率风险的管理策略以及信贷风险防范策略。

Part III , present the opportunities and challenges of the commercial banks of China on the background of Interest Liberalization , the pricing of financial products , the management strategy of interest risk and the credit risk management strategy .

波动率在金融衍生产品定价、投资组合风险管理、对冲投资策略中具有重要作用，在现代金融理论中，广泛地以波动率来代表风险，并可用收益的方差进行测度。

Volatility has been playing an important role in pricing derivatives , portfolio risk management and option hedging strategy . In modern financial theory , volatility is widely used to represent risk and is always measured as the variance of return .

从商业银行利率风险的防范及利率市场化条件下金融产品的定价等方面论述了利率敏感性缺口管理、利用隐含期权的商业银行利率风险管理等利率风险管理的技术和方法。

The author analyzes technologies and methods of interest rate sensitivity gap management and management of interest rate risk of commercial banks from the angle of avoiding interest rate risk and the pricing of financial products under the condition of interest rate marketization .

聚合及分离金融衍生产品的定价问题及其波动率微笑

Pricing the Financial Products Taking Account Convergence and Divergence and Their Volatility Smiles

这些现象对于金融衍生产品的定价，尤其是对一些奇异产品的定价是有很大影响的。

These phenomena affect the financial products very much .

金融衍生产品的定价是金融工程学的重要研究问题。

The pricing for financial derivatives is among the most important problems of financial engineering .

运用广义网络流模型和线性规划对偶理论，提出了一种金融产品的套利定价方法。

An arbitrage pricing method for financial products in terms of generalized network model and duality theory of linear program is presented .

市场基准利率及其期限结构是一切金融产品的公正定价的基础，因此，作为基准利率的提供者，发达的国债市场是企业债券市场发展、衍生产品创新的前提条件。

Benchmark interest rate and its term structure form the basis for pricing other financial products . So , as the provider of benchmark interest rate , a well-functioning bond market is the precondition for developing corporate bond market and innovating derivative products .

当市场暴跌的时候，投资者意识到这些金融产品很难进行定价。

When the market plunged , investors realized the difficulty in putting a value on those products .

研究发现银行间质押式回购收益率具有较好的动态运动性质，比样本国债和政策性银行金融债更适宜作为短期金融产品定价的基础。

The result shows the buyback rate in the interbank market is more feasible for the valuation of short-term financial instruments in China .

信用评级作为提示金融风险的工具和金融产品的定价依据，在国际金融领域中发挥着不可替代的作用。

Credit ratings is playing an irreplaceable role in the field of international finance as a warning tools of financial risks and the pricing basis of financial products .

随着金融市场的发展，在研究金融产品定价的过程中，很多新的方法不断的被引入。

With the development of financial market , a lot of new methods are implement-ed to price these derivatives .

其次在论文综述部分解释了西方经典经济学和金融学对于市场均衡的含义和均衡下的产品定价，综述了按照该理论在不确定条件下金融产品的定价和理财产品的评价方法。

Secondly , the paper , in the review part , translates the meaning of equilibrium of market and pricing under this equilibrium according to Western classical economics and finance and depicts the pricing and the evaluating of finance products in the indeterminate situation of equilibrium theory .

随着科学的进步和发展，金融衍生产品越来越受到套期保值者和投机者的喜爱，于是金融衍生产品的定价问题成为现代金融理论研究中的核心问题和热点问题。

With the development and progress of the scientifics , financial derivatives become more and more popular in hedging and speculatives , then the pricing of financial derivatives has become the core issue and hot topic in the study of modern financial theory .

现代金融学大厦是建立在有效市场假说（EMH）基础之上的，主流的金融工具及衍生产品定价均是以EMH为前提假设，指数型基金的发展更是直接得益于有效市场假说的广泛推广。

The modern finance theory is based on the Efficient Market Theory , which is also the precondition of the mainstream financial instruments and derivates pricing models , and the development of index funds is benefited from the EMH directly .