一价定律

本文用一价定律对APT进行了分析。

This paper analyzed APT using the law of one price .

购买力平价法概括了这条“一价定律”。

PPP generalises this " law of one price " .

一价定律存在的解析

An Analysis of the Existence of One Price Rule

在一价定律成立的前提下，购买力平价分为绝对购买力评价和相对购买力平价。

Under the premise of the law of one price is established , purchasing power parity include the absolute purchasing power parity and relative purchasing power parity .

一价定律可简单的表述为：当贸易开放且交易费用为零时，同样的货物无论在何地销售，其价格都相同。

Law of one price can be simply stated as : when trade liberalization and zero transaction costs the same regardless of where the goods sold , the prices are the same .

交叉上市公司股票价差意味着同股同权不同价，这显然违背了金融学领域的一价定律。

Cross-listed stock spreads means that " the same shares same rights but different price ", which is clearly contrary to " the law of one price " for the field of finance .

如果全球资本市场完全整合，根据一价定律原理，同一种资产在各资本市场的价格应该一致，不会受交易地点的影响。

According to the law of one price , the price of an asset of a certain company should be the same on capital markets the company listed disregarding the transaction location , if the global capital markets is fully integrated .

然后在此基础之上，考虑其他诸多影响公司估值的因素，包括公司竞争环境，供应商、客户的讨价能力、替代品的威胁等其他因素，得出本文的主要结论：股票估值与定价的新一价定律。

Taking into account of several other determinants , such as corporate competitive environment , supplier or client bargaining power , and substitute threat etc , it then concludes with the New Law of One Price for share valuation and pricing .

在市场的运行中，非均衡是与违反一价定律相对应的，套利的过程就是套利者对违反一价定律机会的运用，同时市场恢复均衡的过程。

The existence of the unequilibrium implies that the market goes , against the law of one price , and as a matter of fact , arbitrage is a process which arbitrageur makes use of these opportunities and the market resumes equilibrium .