蝶式权证

通过异常报酬率显著性检验，收益率均值与方差齐性检验，市场模型，以及含虚拟变量的GARCH模型，和回归模型量化蝶式权证对标的股票的影响。

Through the reward abnormal significant test , mean value of yield and the average of homogeneity of variance test , market model , and with virtual variables GARCH model , and regression model to quantify butterfly warrants on the underlying security influences .

2005年8月，为了配合股权分置改革的深入发展，部分上市公司免费派发给流通股东认购权证或者是认沽权证，或者是两种联袂派发（蝶式权证）。

In August 2005 , in line with the share reform in depth , the companies distributed free of charge to current shareholders of warrants or put warrants , or both jointly distributed ( butterfly warrants ) .

本文基于函数型数据的主成分分析理论，将蝶式权证的周收益率看作函数型数据，根据提炼出的主成分对权证的周收益率建立模型，进一步分析和预测蝶式权证的变化趋势。

Based on the theory of principal components analysis of functional data , the paper which regards the weekly return of butterfly warrants as functional data , analyzes and predicts the variation tendency of butterfly warrants through modelling the weekly return refined by principal components analysis . 3 .