differential stock 中文意思是什麼

differential stock 解釋
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  • differential : adj 1 差別的，區別的；特定的。2 【數學】微分的。3 【物、機】差動的，差速的，差示的。n 1 （鐵路不...
  • stock : n 〈德語〉 滑雪手杖。n 1 （樹等的）干，根株，根莖。2 【園藝】砧木；苗木；原種。3 〈古語〉木塊，木...
  1. By end of 1998, the nominal value of derivatives transactions had happened in the official exchange within 5 years increased from 7. 7 trillion u. s. dollars to 13. 5 trillion u. s. dollars, meanwhile, the nominal value of derivative securities ( otc ) increased from 8. 7 trillion u. s. dollars to 51 trillion u. s. dollars, then, the nominal value of unliquidated derivatives was total about 64 trillion u. s. dollars, and the academic field also emerged frontier science borrowing for the financial science, physics financial science, financial engineering, etc. 1973, black and scholes put forward the differential equation that any derivative securities prices based on any non - dividend paying stock must be satisfied, that is black - scholes differential equation

    Jamshidian . f在其1989年的文章中推導出零息債券的期權價格。奧托同樣在其1998年的論文中用統計物理學中的路徑積分方法推導出了基於零息債券為基礎的期權定價模型。本文在這些學者研究成果的基礎上，進行了更深層次的研究，在vasicek隨機模型的基礎上，打破上述學者及著名的black - scholes期權定價模型只能求解證券及其衍生產品價格平均值的限制，對零息債券和基於零息債券的期權的價格求解，並推導證券瞬時價格的分佈函數。
  2. But this approach cannot explain the great differential in returns between the stock and bond markets, nor the high volatility of the stock market

    但這種觀點無法解釋股市和債市的巨大差別以及股市的高易變性。
  3. Underlying the assumption that the stock price accords with the model of the stock price fluctuating sources, by comprehensivily applying the stochasitic differential theory and no - arbitriagc thcory, this paper, under the conditions that the risk - free rate r is constant or ito stochasitic process, successively works out the option pricing about the stock price model with that the short - term profit function is piecewise lecture function arid that one with that the short - term profit function is possion jump process, derivats counterpart partial differential equation of option pricing. the outcome states : 1. when the short - term profit function is unusual flunctuating sources bring out a piecewise lecture function, this amendment on the lognormal distribution model does not improve the option price, because this partial differential equation of option pricing is the same one underlying the lognormal distribution model ( see equation 2. 14 )

    本文基於股價符合波動源模型的假設，綜合運用隨機微分理論等數學原理和無套利理論等金融理論，依此對短期收益率函數為分段階梯函數和possion跳躍過程的股價波動源模型分別在無風險利率是常數和隨機過程的條件下作了期權定價，推導出了相應的期權定價偏微分方程，結果表明： 1 、由異常波動源帶來的短期收益率函數是分段階梯函數時，這種對股價對數正態分佈模型的修正不能改善期權價格，因為基於這種模型的期權定價偏微分方程與基於股價對數正態分佈模型的期權定價偏微分方程完全相同（見方程2 . 14 ） 。
  4. 4. after changing the short - term profit function to possion jump process, in the view of that the derivated partial differential equation of the option pricing which different from black - scholes partial differential equation still is that interest rate is constant ( 4. 2 ), the model which does not accord with the real market under the assumption. at last, we derivat a new model of option pricing whoso profit rate is possion jump process under stochastic interest rate ( 5. 13 ), this model not only changes the form of the short - term profit function of the stock price model and avaids the simplization of the profit rate function the unusual flunction sources bring about, but also relaxes the basis assumption of black - scholes option pricing model and makes that the partial differential equation builds the foundation which even approaches the actual market

    4 、將短期收益率函數由確定函數修改為possion跳躍過程后，文[ 15 ]推導出的期權定價偏微分方程（見方程4 . 2 ）雖然推廣了black - scholes期權定價偏微分方程，但此時依舊假設利率是常數，這與實際生活中的不符，我們研究了一個隨機利率下短期收益率函數是possion跳躍過程的期權定價模型（見5 . 13 ） ，該模型既改變了股票價格波動源模型中短期收益率函數的形式，避免了異常波動源帶來的收益率函數的簡單化。
  5. Qingdao haier has to strengthen management in order to make the conversion successful. the paper analyzes qingdao haier ' s operation status and financial status in 2001, analyzes its competitiveness and the impact of the change of environment on it, points out the problems existing in its capital structure, forecasts its income and earning before interest and tax in 2002, and compares convertible bond with stock and bond with respect to individual capital cost, overall capital cost, differential cash flow nud earning per share, and draws the conclusion that convertible bond is the best choice for haicr. the paper continues to systematically design convertible bond for haier and evaluate the convertible bond using the option pricing model

    本論文分析了青島海爾有限公司2001年的經營狀況和財務狀況，分析了青島海爾有限公司的競爭優勢以及它所面臨的環境變化的影響，指出了青島海爾有限公司資本結構上存在的問題，然後根據公司的發展戰略及公司2001年的各種財務比率，預測公司2002年的收入及息稅前利潤，並從個別資本成本、綜合資本成本、差異現金流量和每股收益等方面對青島海爾有限公司增發新股融資、可轉換債券融資及企業債券融資三種融資方式進行了全面細致的比較分析，最終得出青島海爾有限公司以可轉換債券融資是最合適的。
  6. Discussion on the differential marketing of the joint - stock commercial banks

    論股份制商業銀行的差異化營銷
  7. This factory located by the foot of the beautiful national scenic spot yandang mountain and by the 104 national way, is a stock enterprise and specializes in the production of anxin brand series personal fall preventer used for operation in a high place - txs2 series, tbs2 series fall preventers speed differential self - controlled body fall preventers ; xps series self locker for safe climbing ; european and american type safety belts and fittings and buffers

    本廠系股份制企業，坐落在風光秀麗的國家級風景區雁蕩山山麓， 104國道旁。專業生產「安心」牌系列高處作業用個體防墜落用品txs2系列tbs2系列防墜器速差自控式人體防墜器xps系列攀登安全自鎖器歐美式安全帶及配件緩沖器。
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