摘要
本文在分析范式上将复杂金融产品看成是关于其标的资产的或有要求权,复杂金融产品结构上本质差异在于其支付过程和边界条件。设计和构建一个统一分析框架,从风险和收益两个方面对复杂金融产品进行绩效评估,在方法和过程上采用数字模拟仿真技术实现。利用2007年度在国内市场公开发行的银行理财产品作为实证分析实例,评估结果表明国内市场理财产品基本符合风险收益平衡原则,但在产品发展和创新能力上,外资机构比中资银行具有优势。
The analyzing paradigm is given which complex financial products are regarded as contingent claims on underlying to which they are linked, and the difference among variant financing products is regarded as exist in payoff processes and boundary conditions. A numerical analyzing framework is designed to evaluating risks, returns, and performances. The evaluating outcomes on complex financial products which have been issued Chinese banking markets in 2007 show the designing ideality and product innovation of oversea institutions are better than domestic institutions.
出处
《科学决策》
2009年第9期57-63,85,共8页
Scientific Decision Making
关键词
复杂金融产品
或有权
风险
收益
绩效
complex financial products
contingent claims
risk
yield
performance
