查询词典 Black Scholes pricing model

The results show that:First, concentration of hydrogen peroxide have the most obvious influence to oil yield and carbon black yield,with the increase of concentration of hydrogen peroxide the oil yield first increase then decrease,when concentration of hydrogen peroxide is 8.19% or so,the oil yield reach to the biggest value, and with the increase of concentration of hydrogen peroxide carbon black yield decrese;Then,reaction time have more obvious influence to oil yield and carbon black yield,oil yield increase but carbon black yield decrease with the increase of reaction time;Thirdly,reaction tempreture have some influence to oil yield and carbon black yield,samely,oil yield increase but carbon black yield decrease with the increase of reaction tempreture;Finally,reaction pressure does almost no influence on oil yield and carbon black yield.

研究结果表明：过氧化氢质量浓度对产油率和炭黑产率的影响最为显著，产油率随过氧化氢质量浓度的提高先提高后降低，在过氧化氢质量浓度为8.19%左右时达到最大值，炭黑产率随过氧化氢质量浓度的提高而降低；反应时间对产油率和炭黑产率的影响也比较显著，产油率随反应时间的增加而提高，炭黑产率随反应时间的增加而降低；反应温度对产油率和炭黑产率也有一定的影响，产油率随反应温度的提高而相应地提高，炭黑产率随反应温度的提高而降低；在本文实验范围内，反应压力对产油率和炭黑产率基本上没有影响。

In Chapter 4, the pricing of Asian geometric average option under stochastic interest rates is studied, assuming CIR model for the interest rates. Asian option is strongly dependent with path, usually have a long duration, the movement of interest rates becomes more important in pricing such long-dated options. The CIR interest rate model not only considered the interest rate behavior has mean-reverting but also take into account that the fluctuation rate is direct proportion with the square root of its interest rate. Finally, the method of finite difference for the Asian geometric average option under CIR interest rate model is given.

第四章在利率满足CIR利率模型的假设下，研究了几何亚式期权的定价公式，亚式期权是强路经依赖性期权，通常有效期较长，在进行较长时期的投资时，利率的变化是非常重要的，CIR利率模型不仅考虑了利率行为具有均数回归的现象，而且还考虑其波动性的大小与利率大小的平方根成正比，最后给出了CIR利率模型下的几何亚式期权定价的有限差分法。

Consideration on the basic value of corporation, market value and behavioral value integrally, it chooses indexes, filter indexes with principal component method, distills principal factors, builds up pricing model under seeking system, and checks up the application effect of model, so that it proves that pricing model importing the behavioral factors is more availability than the models before.

在综合考虑公司基本价值、宏观市场价值、心理行为价值三方面因素的基础上，选取指标，运用主成分分析法筛选指标，提取主成分因子，建立了询价制度下的新股定价模型，并对模型的应用效果进行了检验，证实了引入心理因素的定价模型要比以往的定价模型更有效。

Then analyzes and makes reviews on different operating model from two angles in reality, and points out that entrust model and MBO FUDs are most practicable because of predominance and function. In the last part , after making a deep research on pricing and financing environment, aiming at characteristics of enterprises of our country set up a pricing-model on MBOs target firms, and innovative models of financing.

首先对国企MBO的意义和可行性作了分析；继而从收购主体和收购方式两个不同的角度对现有国企MBO的模式进行了总结和分析；接着提出信托方式和MBO基金以其特有的优势和功能，在现有融资、法制环境下是可操作的模式；最后对现在国有股转让价格提出质疑，并构建了一个定价模型。

The first chapter of the thesis topics background analysis, a comprehensive grasp of the relevant literature, in-depth study of the question for laid a solid foundation; Chapter II from the perspective of China"s securities market, in-depth study of the volatility in the securities markets; Chapter III from Marcovitz portfolio theory, the capital asset pricing model and the arbitrage pricing theory systematic comparison, in-depth study of the International Securities Market Association theoretical basis, and then focus on the quantitative study of China"s emerging stock markets and the relevance of the surrounding market; this chapter use GARCH model family, pulse function, VAR model, market-related parameters , a smooth test, cointegration test, Granger causality test methods measure the volatility in the securities markets and the correlation with the degree of peripheral markets; Chapter IV in the face of China"s securities market volatility and market linkages with neighboring under the influence of the Chinese securities market from the current state of development of expounding China"s Permit Certificates of inevitability of the international market, Chinas securities market and to avoid the risk of the corresponding policy recommendations.

第一章系统分析论文的选题背景，全面掌握了相关的文献，为深入研究本问题奠定了坚实的基础；第二章从我国股票市场自身角度出发，深入研究我国股票市场的波动特性；第三章从马科维茨资产组合理论出发，对资本资产定价模型和套利定价理论进行系统比较分析，深入探讨了国际股票市场关联的理论，随后着重定量研究了我国新兴股票市场与周边市场的关联性；本章使用市场相关参数、平稳性检验、协整检验、Granger因果检验等计量方法测度了我国股票市场波动及与周边市场的关联程度；第四章基于我国股票市场波动及与周边市场的关联影响，从我国股票市场目前发展状况出发，阐述了我国股票市场国际化的必然性，并为我国股票市场的风险规避提出了相应的政策建议。

Chapter 3 is the relative theory of the financial market: the knowledge of discrete time model and Black-Scholes model, etc.

第三章金融市场的有关理论：介绍离散时间模型、Black-Scholes模型等知识。

We use the data from BHP company in 1995-2001 and calculate the implied volatility. By comparing the implied volatility calculated from actual option price and the assumed volatility in the model, it is found that Black-Scholes Model does underprice the Out-of-The-Money options and overprice the In-The-Money options because of the wrong assumption on the volatility.

本文选择了澳大利亚BHP公司1995年-2001年其中五年的数据，从实际期权价格中计算得到隐含波动率，并把其与Black-Scholes模型中的假设波动率进行比较，最后可以发现，Black-Scholes模型低估了虚值期权的价格，高估了实值期权的价格，与一般的研究结果恰好相反。

In this regard, we believe that the Black-Scholes model of options valuation, now often unjustly maligned, is a model for models; it is clear and robust.

在这方面，我们认为，选择估值Black – Scholes模型，现在经常无理指责的，是一个模型模型，它是明确的和强有力的。

Second,it promotes the KMV model and calculates the Black-Scholes formula,the distance to default and the expected default frequency when the company\s assets on the Jump-diffusion process,it expands the application of the model.

扩散过程时相对应的Black-Scholes 公式和违约距离和预期违约率，具有一定的新意和应用价值，但摘要不能较好地反映文章的内容和结论，英文摘要包括单位的英译都存在明显的语法和用词问题。

In the research, the study of car impact test and numerical simulation method are both used. Based on works that have done, an impact model containing car model, dummy and restriction system model was built. According to national regulation, different types of impacts were simulated. The fuel cell auto's impact safety was analyzed, and the injury criterion for occupant can be read out directly by simulation data. The main research content of this project is to set up the fuel cell auto's frontal impact model, side-impact model, rear-impact model and the whole frontal impact model, which contains car model, dummy, restriction system model and so on, and calculating these models.

在本课题的研究过程中，博采众长，坚持创新，在综合分析总结前人研究经验的基础上，将实车碰撞试验研究与仿真计算分析方法结合起来，统一车身耐撞性有限元计算分析与乘员在约束系统作用下的运动响应的多体动力学分析，采用整车虚拟碰撞试验法进行燃料电池轿车的碰撞安全性研究，即建立一个集车辆、人体模型及乘员约束系统三者于一体的完整的车辆模型，以国家安全法规为依据，进行各种碰撞型式的整车虚拟碰撞试验，利用仿真计算结果进行燃料电池轿车的碰撞安全性分析，直接预测乘员的伤情指标。

The witness also told the jury at the Royal Courts of Justice in London that he saw a paparazzo fighting with a member of the public who was trying to stop him taking pictures in the minutes before the emergency services arrived.

他还告诉在伦敦皇家法庭的陪审团，在急救服务到来之前，他当时看见一个狗仔队正和一群阻止他拍照的人打架。

The entire N／C program on a tape is made up of an accumulation of these successive data blocks.

纸带上的整个数控程序由这些连续数据单元连接而成。