貨差險 的英文怎麼說
中文拼音 [huòchāxiǎn]
貨差險
英文
risk of shortage-
The danger of inflation stalked the home front because of this "inflationary gap".
由於存在這種差距，國內就籠罩著通貨膨脹的危險。To reduce the basis risk, this thesis offers a compound hedge policy on stock index futures and deduces the expressions of the hedge ratio in two instances when the cost is same or restricted. this paper analyses the investments of pension fund from 9 - 6 - 2003 to 7 - 10 - 2003, then it demonstrates the stock portfolio of pension found by the goal program model
為了降低套期保值交易的基點差風險，本文提出了利用多種股票指數期貨對股票組合進行復合套期保值的策略，並給出了套期保值成本相同和限制套期保值成本兩種情況下的套期保值率公式。Overhead expenses of overhead expenses is to show the enterprise is organization and administrative company production to run all sorts of cost of place happening, include company board of directors and administration department to happen in the management of the enterprise, the company funds that perhaps should consolidate a responsibility by the enterprise ( include wage of administration department worker, repair cost, stock to use up, cost of running stores amortize, office and poor travelling expenses ), union funds, be out of job membership due of insurance premium, cost of labor security, board of directors ( include directorate member to allowance, conference is expended and differ travelling expenses to wait ), invite intermediary orgnaization cost, advisory cost ( contain adviser, legal cost, business receives fee, house property duty, car boat royalities, land royalities, stamp duty, the technology transfers cost, mineral products resource compensates cost, intangible assets amortize, the worker teachs funds, consider to be expended with development, blowdown cost, goods in stock dish deficient or investory profit ( do not include to answer plan the loss of goods in stock that enters the defray outside doing business ), plan the bad zhang preparation that carry and goods in stock cheapen preparation
治理費用治理費用是指企業為組織和治理企業生產經營所發生的各種費用，包括企業董事會和行政治理部門在企業的經營治理中發生的，或者應由企業統一負擔的公司經費（包括行政治理部門職工工資，修理費、物料消耗、低值易耗品攤銷、辦公費和差旅費等） 、工會經費、待業保險費、勞動保險費、董事會會費（包括董事會成員津貼、會議費和差旅費等） 、聘請中介機構費、咨詢費（含顧問費） ，訴訟費，業務招待費，房產稅，車船使用稅，土地使用稅，印花稅，技術轉讓費，礦產資源補償費，無形資產攤銷，職工教育經費，研究與開發費，排污費，存貨盤虧或盤盈（不包括應計入營業外支出的存貨損失） 、計提的壞賬預備和存貨跌價預備等。Three type of option forward contract : interruptible, or callable, forward contract ; its supply - side analogue, puttable contract ; and their combination, bilateral optional electricity forward contract, are reported in chapter 5, these contracts allow market participants to take advantage of flexibility in generation or consumption to obtain a monetary benefit, while simultaneously removing the risk of market price fluctuations. in chapter 6 of this paper, various contracts for difference are discussed. the last part of this paper is conclusion and prospect
論文首先分析比較了電力交易的幾種方式及其適用的環境，闡述了電力期貨的功能和意義；簡要介紹了電力期權和互換的概念與作用；重點研究運用金融衍生工具的理論分析遠期合約、期貨合約、可選擇遠期合約和差價合約等幾種電力合約的規避或降低風險的機理、合約價格或敲定價格的設定及市場參與者對這些工具的響應和運用這些工具的策略。This thesis takes the process of the futures delivery as the object of the research, analyzes and investigates the physical delivery system. firstly the thesis introduces the connotation, status and functions of the futures delivery in the futures market, and then makes a deep research in the futures delivery systems concerned such as the designing of the grade of the listed commodity at par as well as the premium and discount, the selection of the delivery locations and the regulation on the designated delivery warehouses, as well as the management and circulation of the warehouse receipts. on the basis of the above - mentioned analysis, this paper makes some constructive suggestions and recommendations on the improvement and innovation of the futures delivery to be taken by the chinese futures market at the present stage
本文首先闡明了期貨交割在期貨市場中的經濟內涵、樞紐地位和功能保障作用；然後，從合約設計出發，用均衡原理揭示了期貨交割制度與品種活躍和風險控制的有機關系；進而，對比中外交割制度，通過比較，認清了中外現貨基礎、誠信和法制等環境因素的差距，明白了「拿來」的內容和如何構建中國特色的交割制度；從而，就小麥國家標準的歷史局限性，標準和替代交割品級及其升貼水的設計原則，交割標準把握的出發點和落腳點，交割倉庫設置和管理的目標和狀況，標準倉單沾滯的根源等期貨市場交割制度及相關規定，進行了深入而細致的剖析。First, a new methodological framework is developed for investigating the optimal strategies of maintenance scheduling for generating units with risk well taken into account, based on the widely employed power pool mode and the uniform clearing price. two scenarios are examined in detail, i. e., for the two cases that the generation company studied is / is not a price taker in the electricity market operation. based on the electricity market clearing prices estimated, a new methodological framework is presented, mathematical models formulated and a solving method developed
以國內外廣為採用的聯營體模式、統一市場清算價結算的現貨電力市場為背景，在假設市場電價可以預測並能夠描述為某種概率分佈的前提下，採用方差或標準差來描述和度量風險；建立了相應的優化模型，為發電公司在制定發電機組的檢修計劃時適當兼顧利潤損失的期望值最小和風險最小這兩個目標提供了新的解決途徑。Ratio of the value of futures contracts purchased or sold to the value of the cash commodity being hedged, a computation necessary to minimize basis risk
所買賣的期貨合約價值與要進行套保的現貨商品價值之間比值，用來計算最小化基差風險。The large difference in the buy and sell rates, particularly with cash, is because of the exposure of the bank to currency risk, as well as extra time devoted to handling and checking cash, and the risk of receiving counterfeit notes
買入和賣出外匯匯率有一定差額是因為銀行必須面對貨幣風險，同時還需投入時間轉賬、核對並有可能收進偽鈔。They remarked that, while it was extremely difficult to decompose the yield spread and attribute its components quantitatively to various risk factors, it appeared that long - term currency risk had been the main concern for investors over the crisis period, although, in retrospect, the risk seemed to have taken the form of confounded expectations
委員會又認為，雖然要把收益率差距分解，並將有關的組成部分量化及歸類為不同的風險因素十分困難，但在危機發生期間，貨幣風險似乎是投資者的關注重點。盡管如此，事後看來，有關風險似乎涉及一些混淆不清的預期。The first section is the base of the whole thesis, including the conception of irr management, its procedure, and history. what " s more, it classifies irr and sum principles of its management ; the three kind techniques of irr management are the thread of the second section. it expounds different kinds of techniques, such as gap model, duration model, fras, future and option ; with the gap model and duration model, the third section use the balance sheet of our commercial banks to reveal the irr conditions of them ; on the basis of experiences of leading banks in the world, the paper puts forward several suggestions in the last section
第1部分介紹了商業銀行利率風險管理的概念、過程，及其演進歷史，同時對利率風險進行了分類，總結了商業銀行利率風險管理的原則；文章的第2部分將現有的利率風險管理技術進行了歸類，以利率風險表內管理技術，表外管理技術和綜合管理技術為主線，分別介紹了早期的差額管理，搭配記賬管理，以及現在十分流行的缺口管理和持久期管理，同時對遠期利率，利率期貨等表外技術，及證券化等綜合管理技術作了簡單的介紹。The paper is composed of five chapters the first chapter first introduces the concept, characteristics and the course of development of the stock index futures, then deduces the pricing formula of stock index futures and further analyses the functions of stock index futures and the impact of its transaction on the fluctuation of the spot transactions. the second chapter demonstrates the need and feasibility of the introduction of the stock index futures in china. through the empirical analysis of the market risk of china ' s stock market, we can see that the risk difference between individual stocks, so a portfolio investment wo n ' t help much in risk aversion
本論文共分為五章，第一章在介紹股票指數期貨的概念、特點以及產生與發展的過程的基礎上，對股票指數期貨的定價公式進行了推導，從而引出股票指數期貨的套期保值、指數套利、資產配置、組合保險等作用，進而分析股票指數期貨交易對股票現貨市場波動性的影響；第二章主要是對中國推出股票指數期貨的必要性和可行性進行論證，通過對中國股票市場風險測度的實證分析，得出了中國股票價格波動齊漲齊落，個股之間的風險差異小的特點，因此，投資者進行投資組合的避險效果就很有限，無論是個人投資者還是機構投資者，都必須面臨中國股票市場巨大風險的事實。Straightforward readings of the pricing of fed funds futures could be misleading because of the presence of risk premia and persistent errors in market expectation : these difficulties were particularly pronounced during turns of the interest rate and business cycles
由於存在風險溢價的因素及市場預期持續出現誤差，因此若是用直截了當的方法來解讀聯邦基金期貨利率，可能會造成誤導遇到利率及商業周期轉向的時候，這方面的困難更為明顯。Because the component of stock index is not fully the same as the stock portfolio of pension found, there is much basis risk when one stock index futures is used to hedge
因為構成股票指數的成分資產與股票組合的資產不完全相同，單一的股票指數期貨與股票組合的相關性不是很強，從而導致套期保值交易具有較大的基點差風險。Risk premium, basis risk premium and systematic risk premium is built based on capital assets price model. the model is used to increase income under the condition which a systematic risk is reduced, not only the model reflects the actual meaning of hedging of stock index futures, but also combines conventional hedging theory and modern combinatorial hedging theory
風險溢價、基差風險溢價和系統風險溢價三部分構成的股票指數期貨套期保值原理數學模型，該模型的運用考慮在規避掉系統風險的前提下，如何使套期保值利潤最大化，該模型不僅從本質上反映套期保值實際意義，而且還是傳統套期保值理論與現代組合投資套期保值理論的有機結合。分享友人