系统性风险

分析了β系数的变化特征，运用递归残差法估计和检验了β系数的稳定性，指出CAPM模型中的β系数是度量证券系统性风险的重要指标。

This paper analyzes the variation features of β coefficient , estimates and detects the stability of β coefficient through using recursive residual error method , and obtains that β coefficient in CAPM model is the important index of measuring systematic risk of securities .

本文将重点探讨ETFs产品为什么能够用以套期保值，并讨论其套期保值操作的应用：①在规避个股系统性风险的情况下如何进行个股的非系统性风险投机；

The purpose of this article is to explain why ETFs can be treated as a tool for hedging , and to discuss its applications & The first one is how to speculate in unique risk of a corporate stock when eliminating its systematic risk ;

系统性风险的另一可能来源是“影子银行体系”，金融稳定委员会（financialstabilityboard）正在研究对该体系实施监管的办法。

Systemic risk could also arise from " shadow banking " , and its regulation is being explored at the financial stability board .

该名单由监管机构在“金融稳定委员会”（financialstabilityboard）的主持下拟定，旨在预防系统性风险在未来金融危机中向全球扩散。

The list has been drawn up by regulators under the auspices of the financial stability board , in an effort to pre-empt systemic risks from spreading around the world in any future financial crisis .

利用现代金融理论中的资本财产定价模型（CAPM），分析融资项目的系统性风险，及因承担这种风险而得到的收益，据此对项目进行投资风险分析。

Uses CAPM to analyze systemic risk .

最终，美联储见证了太多的系统性风险，于是改弦易辙，对aig进行了干预。

Ultimately , the Fed saw too much systemic risk , reversed course and intervened in AIG .

结果显示我国IPO初始报酬率没有表现出明显的变化趋势，但对IPO公司非系统性风险具有揭示作用，或者说市场反馈假说在我国是成立的。

As the result shows that there is no distinct tendency in IPO initial return movement in China , the hypothesis of market feedback gets supported .

国际货币基金组织（imf）昨日表示，全球金融市场“脆弱”，信贷危机爆发近一年来，系统性风险的各项指标仍有所“升级”。

Global financial markets are " fragile " and indicators of systemic risk remain " elevated " almost a year into the credit crisis , the International Monetary Fund said yesterday .

Treynor指数和Jensen指数只考虑系统性风险，如果非系统风险没有被完全消除，采用Treynor指数和Jensen指数可能得出误导信息。

Concerning systemic risk only , Treynor index and Jensen index may transfer misleading information .

当前欧元区国家系统性风险（systemicrisk）仍在持续传导和累积，国家信用风险突出且产生巨大的溢出效应，对全球经济造成了持续、全面和深远的影响。

At present , the euro-zone countries ' systemic risk is widely conducting and accumulating ; sovereign credit risk is a prominent problem and generates a tremendous spillover effect , which causes a sustained , comprehensive and far-reaching impact on the global economy .

投资者提议成立的机构系统性风险监管机构（systemicriskoversightregulator）由一名主席和四名成员组成，均为全职工作人员，由总统任命，经过参议院批准，并对国会负责。

A body proposed by the investors the systemic risk oversight regulator would have a full-time staff led by a chairman and four members appointed by the president and confirmed by the Senate , and would be accountable to Congress .

银行界人士表示，众议院金融服务委员会主席巴尼弗兰克（barneyfrank）的提议，可能给金融体系带来新的系统性风险。

Bankers said the proposals put forward by Barney Frank , the powerful chairman of the House Financial Services Committee , would introduce new systemic risks into the financial system .

国际清算银行（BIS）菲利普特纳（PhilipTurner）称，由于众多企业一直在从事套息交易，新兴市场企业部门蕴含着潜在的系统性风险。

According to Philip Turner of the Bank for International Settlements , the EM corporate sector is a repository of potential systemic risk because companies have been engaging in a carry trade .

系统性风险与我国农作物保险市场失灵&基于M-V偏好模型分析

System Risk and the Failure of China 's Crop Insurance Market & An Analysis Based on M-V Preference Model

美国金融分析师克里斯维伦（christopherwhalen）辩称，消除系统性风险的唯一方法，是迫使所有交易在透明的交易所进行。

Christopher Whalen , a US financial analyst argues the only way to remove systemic risk is to force all trades on to transparent exchanges .

事实证明，如今被政府接管的美国国际集团（aig）就是去年的一个巨大系统性风险，主要原因就是该集团把业务范围从保险拓宽到复杂的金融工程。

AIG of the US , the failed insurance group , was proven to be a vast systemic risk last year , in large part because of its diversification from insurance into complex financial engineering .

农业保险是规避农业非系统性风险的重要财务手段，是现代农业发展的三大支柱之一，是WTO规则允许各国支持农业的绿箱政策之一，具有强大的社会福利功效，日益受到各国政府重视。

Agriculture insurance is an important financial means to evade non-systemic agriculture risks ; one of three mainstays of modern agriculture development , one of Green Box Policies permitted by the rules of WTO to support agriculture , has great welfare efficiency and is thought much of by many governments .

国际货币基金组织（IMF）高级经济学家曼莫汉辛格（MAnmohanSingh）表示，这些监管措施看起来不太可能充分降低场外衍生品的系统性风险，未来靠纳税人纾困的可能性仍很大。

These regulatory steps seem unlikely to adequately reduce systemic risk from OTC derivatives and the likelihood of future taxpayer bail-outs appears to remain significant , says Manmohan Singh , senior economist at the International Monetary Fund .

利用威廉·夏普提出的资本资产定价模型（CAPM）对1999-2002年我国证券投资基金分散非系统性风险的效果进行实证分析，结果表明我国基金对非系统性风险的分散效果日益显著。

This thesis empirically analyses the scattered effect of Chinese security fund nonsystematic risk from 1999 to 2002 based on capital asset pricing model ( CAPM ) . The result indicates that the scattered effect is getting prominent increasingly .

REITs不但可以充分促进房地产业和信托业实现共赢性合作，而且有利于加速我国房地产资本市场的形成，并有助于分散和降低全国范围内银行的系统性风险。

REITs can not only contribute to achieve win-win between the real estate and trust business of cooperation , help accelerate the formation of real estate capital markets , but also help reduce systemic risk for banks across the country .

贝塔系数作为资本资产定价模型（CAPM）中的组成部分，是衡量系统性风险的重要指标，它的精确与否对于预测收益率、资产定价和评估资产表现等具有重要的意义。

As the component of the capital asset pricing model ( CAPM ), beta is an important indicator of systemic risk , which has important implications for predicting the yield , asset pricing , evaluating the performance of assets and so on .

然而，传统CAPM模型由于其自身包含严格的假定，使其在刻画时变β时存在很大的局限性，这也给准确度量系统性风险带来一定的难度。

However , because of stringent assumptions of the traditional CAPM model , when the model is describing the time-varying β, there will be a big limitation , which also brings about a certain degree of difficulty on giving an accurate measure of systemic risk .

卡拉奇股市是2007年表现最红火的股市之一，但卡拉奇证交所（kse）表示，自今年4月以来蒸发近三分之一价值，意味着已经产生了“系统性风险”。

Karachi had one of the hottest stock markets in the world in 2007 , but its loss of nearly one-third in value since April has created " systemic risk " , the KSE said .

另外，产业政策变更也会影响我国商业银行信贷的系统性风险。

Changes in industrial policy also can affect systemic credit risks .

当然，提高资本金要求会降低系统性风险。

Certainly , raising capital requirements will reduce systemic risk .

关于银行系统性风险产生的原因也有很多不同的解释。

Systemic risk of banks causes , there are many different interpretations .

按揭证券化带来了一种新的系统性风险。

The securitisation of mortgages added a new dimension of systemic risk .

金融机构系统性风险管理的知识层面建模

Knowledge Level Modeling for Systemic Risk Management in Financial Institutions

他们还必须铲除那些助长系统性风险的薪酬方案。

They must also root out compensation schemes that encourage systemic risk .

股票市场的变动并不显著影响我国商业银行信贷的系统性风险。

Changes in stock market do not influence the systemic credit risks .