股票定价理论

CAPM股票定价理论的延展

An Extension of the Theory of CAPM Stock Pricing

笔者根据理论假设前提的不同对股票定价理论进行了分类，讨论了有效市场假说（EMH）的含义、理论基础和缺陷，并以此为基础分析了不同市场环境下各种理论的适用性。

The author classified different theories in terms of the difference in premises .

第二章主要对股票定价理论及其发展进行综述。

Chapter II summarizes the IPO pricing theory and its evolution .

传统股票定价理论的缺陷在于对收益与风险之间的数量关系没有进一步的阐述；

Traditional stock pricing theories don 't explain the relation between return and risk .

股票定价理论经历了从传统定价理论向现代定价理论的转变。

Stock Price Settling theory has experienced the switch from the traditional to the modern .

股票定价理论的发展及其对我国的适用性研究

The Development of the Stock Pricing Theory and the Research of Its Applicability to Our Country

股票定价理论研究

Study on the Stock Pricing Theory

首先，本文对西方证券市场股票定价理论和方法进行梳理。

First of all , this article combs stock pricing theory and method of western security market .

西方证券市场经过两百多年的发展，理论界和实务界创造出了各种股票定价理论和方法，其成果已形成严密体系。

The western security market undergoes more than 200 years of development , the theory circle and practice circle create various stock pricing theories and methods .

文章把在马克维茨的资产组合理论提出之前的估价理论称为传统的股票定价理论，资产组合理论以后发展的定价理论称为现代的股票定价理论。

This dissertation named valuing theories before capital portfolio theory put forward by Markowitz as traditional stock pricing theories , and later capital portfolio theory as modern stock pricing theories .

传统股票定价理论的主要缺陷是对收益和风险之间的数量关系没有作进一步的说明，而这一问题正是现代股票定价理论的研究重点。

The main limitation in traditional stock pricing theories have no further elucidation between return and risk , and this problem is the main research of modern stock pricing theories .

随着股票定价理论的发展，行为金融学对理性人的假设提出了质疑，并分析了定价理论在我国股票市场的应用。

With the development of the stock pricing theory , the ' rational man ' hypothesis becomes doubtable in behavioral finance Here is an analysis of stock pricing theories applied on China 's stock market .

根据模型，影响A股初始定价的因素从高到低分别为：成本因子、投资偏好因子、市况因子、业绩成长性因子，实证结果与传统股票定价理论并不吻合。

According to the model , the factors affecting initial pricing range from high level to low level are cost , investment preference , market condition , returns and growth . The results are slightly different from the traditional pricing theories .

其次，在总结分析各种股票定价理论模型的基础上，以套利定价理论为依据，通过分析其因素的合理构成，构建了一种股票发行的参考定价模型。

Next , analyzes each kind of stock fixed price theoretical model , take the arbitrage fixed price theory as the basis , through analyzes its reasonable constitution factor , and constructed one kind of stock release reference fixed price model .

第一章论述了股票定价理论，主要论述了内在价值理论、证券组合理论和非线形化模型，并且追踪了股票定价理论的最近发展动态。

The first chapter analyses the theory of stock pricing . It mainly analyses to describe the theory of inherent value , combinatorial theory of the securities , non-linear models , and has followed the trail of the recent development trends of the stock pricing theory .

所谓传统股票定价理论是指在马克维茨资产组合定价理论提出之前的股票定价理论，它以单个股票的内在价值或价格运动趋势为研究对象，主要以红利贴现模型为代表。

Traditional stock pricing theories is the pricing theories which have been presented before Markowitz 's property combination pricing theories , it regards inside value or price sport trend of single a stock as the research object , the dividend discount model is the main representation .

其次，通过对股票定价理论模型的分析，指出资本成本即风险折现率是股票定价和效率市场假说的基础，进而是资本市场发挥资源配置功能的必要条件。

Second , by analyzing the model of stock pricing in theory , we point out that cost of capital i.e. the discount rate of risk is the basis of stock pricing and efficient market , also is the necessary condition of collocating function of the capital market .

我国证券市场股票定价的理论与实证研究

Theoretical and Positive Reserch of Stock Pricing in Chinese Security Market

上篇主要是股票定价的理论基础。

Part One the basic theories of stock pricing .

金融体制变迁中国有商业银行不良资产的理论与实证分析我国证券市场股票定价的理论与实证研究

The Theoretical and Positive Analysis on the State-Owned Commercial Bank 's Non-Performing Assets in the Financial System Change Theoretical and Positive Reserch of Stock Pricing in Chinese Security Market

本文运用期权定价理论、契约理论、会计理论和公司治理理论，采用数理推导和案例研究等多种研究方法，对经理股票期权定价理论进行了研究。

Using options pricing theory , contract theory , accounting theory and corporate governance theory , this paper analyzes the current executive stock options ( ESOs ) pricing models .

本论文主要从市场交易角度研究机构投资者与股票市场之间的微观机理，运用的理论有股票价格定价理论和行为金融学理论、博弈论、以及信息经济学中的委托代理理论等。

In this thesis , the stock pricing theory , behavioral finance theory , game theory and principal-agent theory in information economics are employed to analyze the micro mechanism between the institutional investors and the stock market from the point of view of market dealing .