underlying asset 中文意思是什麼

underlying asset 解釋
標的物
  • underlying : adj. 1. 在下的，下層的。2. 基礎的。3. 隱晦的；潛在的。4. 【法律】（債券）優先的；【經濟學】第一的，（擔保、權利等）主要的。
  • asset : ASSET ＝ Association of Supervisory Staffs Executives and Technicians （英國）主管人員、行政官員...
  1. Chapter nine, ten and eleven develop the discrete methods to price exotic options, in which chapter nine prices exotic options using the shooting target gird method, chapter ten prices the options using improved shooting target gird method when the underlying asset obeys cev process, and chapter eleven prices the double lookback options using five - bifurcation tree method. in the last chapter, application of option pricing theory is studied in executive stock option plan

    第九、十、十一章研究的是用離散方法對變異期權進行定價，其中，第九章是用打靶格法對一列變異期權進行定價；第十章，用改進的打靶格法對標的資產的價格服從cev過程的變異期權進行定價；第十一章用五叉樹模型對雙回望期權進行定價。
  2. Securitization of bank assets refers to combined management and investment activities in which commercial banks, by making use of the legally representable nature of their credit assets and other claimable credits, put certain assets into asset - pools, issue asset - backed securities backed by the assets in the pools in order to transform the illiquid credit assets into cash assets. then the asset - backed securities are entrusted. upon the expiration of the securities ’ terms, the underlying assets are realized to repay the principals and interests of the securities

    銀行資產證券化是商業銀行利用信貸資產和其他可主張的債權在法律上可被代表的特性，以確定的財產進入資產池為擔保發行資產支持證券，將沉澱的信貸資產變為現金資產，然後將該證券委以信託增值，在證券期滿時，變現擔保財產償還證券本息的一種組合經營和投資活動。
  3. Evading risk in financial trading market cries for pricing options to a nicety. asian option, as the most flourish options in the finace market, the pricing has been focused on always. the exact pricing formula for the geometric average asian option had existed, but as to the european - style arithmetic average asian option, due to the dependence structure between the prices of the underlying asset, no analytical formula exists. on the hypothesis that the market is frictionless and without transaction costs 、 on the base of b - s ’ s and in the binomial tree model, we provide several algorithms for computing an accurate value of the european - style arithmetic average asian option. following rogers and shi and by jensen ’ s inequality, many different upper and lower bounds are provided ; meanwhile a formula have got by the comonotonicity and approximating the distribution function. all of the algorithms are easy for programming. with the development of computer, more accurater price can be computed quickly. and numerical example proved that these algorithms are very accurate

    對于幾何平均亞式期權它的定價相對簡單，已經給出了定價公式。對于算術平均亞式期權，它的未定權益具有軌道依賴特性，一直沒有得到它的定價方程的解析解形式。本文基於對市場是無摩擦且在沒有交易費用的情況下，在b - s模型下，利用二叉樹模型給出了算術平均亞式期權定價方法;並總結了利用jensen 』 s不等式給出的各種不同情況下的上下界;同時應用共單調性和近似分佈函數的方法也給出了算術平均亞式期權價格的近似公式。
  4. Thus, the underlying risk preferences of the plan participants would drive the observed association between the relative number of equity funds and asset allocation, the author notes

    如果是這樣，那麼計劃參加者對風險的偏好才是影響股權基金比例和資產分配兩者間關系的根本原因。
  5. Generally, the holders of the convertible bonds have two major rights : 1, they can receive a fixed cash flow during the term of conversion because the convertible bonds belong to the fixed income bonds ; 2, they can stop the fixed cash flow during the term of conversion and convert the bonds to underlying stock asset according to the formerly stipulated items and price, for the convertible bonds also belong to the affiliations of the securities

    一般的，可轉換債券持有人具有兩項主要的權利：一是作為固定收益證券，在轉債存續期內收到固定的現金流收入；二是作為股票衍生產品，在轉換期內終止固定的現金流收入，按照預先規定的品種和價格將債券轉為標的股票資產。
  6. In the first chapter, we narrate the characteristic of convertible bond, give some clues about development and actuality of the market and its pricing theory ; in the second chapter, we introduce modeling idea and some material problems in the model in detail, draw the yield curve which is very important to the model by spline method ; in the third chapter, we first explain the basic idea and convergent speed of monte carlo method, then, give the mathematical description for financial market, prove equivalence of non - arbitrage market, existence of risk neutral probability measure in the market and the price process of underlying asset is a martingale ; in the forth section, we introduce how to simulate stock price path by monte carlo method in detail, based on foregoing result, we prove the path is a martingale, thereby, the model is logical

    本文第一章先對可轉債的特點、市場發展和現狀及其定價理論的發展和現狀作一概述;第二章詳細介紹了建模思想和模型中的一些具體問題，利用spline方法繪出了在模型中具有重要作用的收益曲線;第三章首先敘述了montecarlo方法的基本思想和有關其收斂速度的一些性質，然後從數學的角度給出了對金融市場的描述，證明了市場無套利、市場存在風險中性概率測度及標的資產價格過程為鞅的等價性;在第四節中，對用montecarlo方法模擬的帶跳股價路徑作了詳細介紹，並利用前兩節的結論證明了模擬的帶跳股價路徑為一個鞅過程，從而保證了模型在理論上的合理性。
  7. The colour coding in the risk return meter is based on a number of factors in relation to their underlying investments including types of asset classes and their respective target weightings, breadth and geographical diversification and historical long - term volatility and capitalisation of the relevant markets

    風險回報指標顏色代號的選定乃基於其投資項目的多項因素，包括旗下資產類別及其相應的目標比重覆蓋范圍及地域分佈有關市場過往的長期波幅和市場價值。
  8. In the section of case analysis, we digested and analyzed the operating and financial data in great deep, through which, financial criteria, such as profit earning capacity, cost & expense, asset usage efficiency, debt repayment capacity and financial management, were introduced and appraised and compared. based on the above, the problem underlying the adverse financial statues of xinbang could be located and further more solutions and measures could be offered accordingly

    案例分析部分著重從財務管理角度入手，通過對公司經營與財務數據的深入發掘和分析，進行了全面的財務指標分析評價?包括盈利能力分析、成本費用分析、資產使用效率分析、財務管理政策評價、償債能力分析等，從而系統地揭示興邦公司的財務狀況與存在的問題，並提出了相應的解決辦法和措施。
  9. To structure a successful securitization transaction, the sponsor should design out more complicated contracts to scatter the risks and interests on the expected cash flow of the underlying assets and transfer the asset to a spe to isolate the risk of transferred assets from other assets

    一項成功的資產證券化交易，發起人需要設計出各種復雜的合約來分散被轉讓資產未來現金流上的風險和收益，同時將該資產轉讓給一個特殊目的實體，使該資產上的風險與發起人其他資產上的風險相隔離。
  10. Arbitrage pricing theory doesn ' t tell us what the underlying factors are ? unlike the capital asset pricing model, which collapses all macroeconomic risks into a well - defined single factor, the return on the market portfolio

    套利定價理論沒有告訴我們潛藏的因素是什麼?不象資本資產定價模型，將所有宏觀經濟風險塌縮於一個充分定義的單一因素，市場投資組合的回報率。
  11. Option pricing model of better - of options when underlying asset processes are jump - diffusion processes

    擴散過程的擇好期權定價模型
  12. Option pricing about underlying asset pricing process by mixed process with transaction costs

    有交易成本的標的資產服從混合過程的期權定價
  13. In option pricing, it is very important to choose the model of underlying asset

    摘要在期權定價中，標的資產的價格變化模型的選擇是非常重要的（上標[ 1 ， 2 ] ） 。
  14. Option is newly developing derivative, it is mainly use in hedging of the underlying asset and avoiding the risk

    期權是新興發展的金融衍生工具，主要用於對標的資產套期保值、規避風險，深受投資者的歡迎。
  15. Often, the bet is not central to the underlying asset ' s role ; a bet on the coin toss in a football game rather than the outcome of the game itself would be a derivative bet, for example

    通常，賭注並不集中在標的資產上，在足球運動中擲硬幣的賭注非游戲本身的結果，而是一種衍生品賭注。
  16. Excellent mpf services committed by manulife the underlying investments of the scheme are all managed sub - managed by investment professionals, namely manulife asset management hong kong limited " mamhk ", fidelity investments management h. k. ltd. " fidelity investments " and value partners limited " vpl "

    計劃旗下的投資項目分別由宏利資產管理香港有限公司宏利資產管理富達基金香港有限公司富達投資及惠理基金管理公司惠理這三家專業的投資管理公司負責管理協助管理。
  17. The trading price of the paif and other funds may rise or fall according to the demand and supply of the units of the funds in the market, while the net asset value of the funds may fluctuate in tandem with price movements of the underlying bonds

    沛富基金及其他基金的成交價會因應基金單位的市場供求情況而升跌，基金資產凈值亦會跟隨相關債券的價格變化而波動。
  18. The trading price of a bond etf may rise or fall according to the demand and supply of the units of the fund on the stock exchange, while the net asset value of the fund may fluctuate in tandem with price movements of the underlying bonds

    債券交易所買賣基金的成交價會因應基金單位在交易所的供求而上升或下跌，基金的資產凈值亦會隨?相關債券的價格變動而有所波動。
  19. The in - kind transaction mechanism works in the following way : when the trading price of the fund units is higher than the net asset value of the underlying bonds, investors will have an incentive to purchase the underlying bonds and exchange the bonds for units of the fund, and then sell the units on the stock exchange, and vice versa

    實物交易機制的運作方式如下：若基金單位的成交價高於相關債券的資產凈值，便會吸引投資者買入相關債券，並以有關債券換取基金單位，然後在交易所出售其基金單位，反之亦然。這種套戥機制有助確保基金單位的成交價貼近其資產凈值。
  20. The investment manager expects such fees and charges to be 1 % p. a. to 1. 5 % p. a. of the net asset value of such underlying approved pooled investment funds

    每一成分基金將間接承受其投資之核準匯集投資基金之收費，預測約為年率1 %至1
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