But because of the second board market of our country is one thing of new student, it must have some imperfect place. And there are a series of system, market condition and other system factors in various fields to hindrance the using of stock option, such as stock source issue, interests that plan cash mechanism and of our country weak efficiency issue of stock market accurately.
Anatomy of market conditions such as the supply capability of monetary and the capacity of securities market which municipal bond issue using means of systems analysis and trend analysis is the content of chapter three. Chapter four summarizs the experience of develped country and the attempt in municipal bond market of developing country. Chapter five educes the very project adapt to the special situation of China municipal market and demonstrates the characters of issuer, pricing, and risk management of China municipal bond.
After analyses the progress of China real estate finance and makes detailed comparison between various models of Residential Mortgage-backed Securitization(RMBS), this paper suggests that we should set up a transitional RMBS which can fit for the existed financial system、 market conditions and law policies, to meet the need of real estate finance and make a ready for setting up the standard RMBS in the future.
Then,basing on reference of foreign practical experiences,and linking to our special national situation,this article sets up a transitional MBS model which can fit for the existed financial system,market conditions and law policies,to meet the need of real estate finance and make a ready for setting up the standard MBS in the future.
Now it is necessary for our country to reform the issue system of enterprise bond, strengthen the construction of the market of circulation and the credit of enterprise, train contingents of investor and strengthen the government's supervision and so on, so as to create the system environment and the market condition that market of enterprise bond neeed and promote its healthy continued development.
Under the condition of the perfect capital market in western flourishing market economy country, the stock price in capital market makes an accurate, simultaneous reaction to market information ( also called the list price mechanism ), carrying out the list price efficiency;
Diversification of production to reduce risks associated with disease, climatic variability and market condition.
Some critics of MIS suggest that farmers are unable to use basic price and market condition information, but that is not borne out by this evidence.
it is discussed in the article that the bonus policies affect the rights and interests of the stockholders upon the conditions of the complete capital market.
There have been European option pricing formulas in complete market.However,option pricing with transaction cost has not been solved.This paper gives basic equations replicating the payoff to option with transaction costs by portfolio.A modified B S formula in this situation is presented.Numerical calculation and analysis is also demonstrated.
The reason that the corporate bonds market lags behind the stock market lies in the fact that the issuing bodies are only limited to state owned enterprises.The key to developing the corporate bonds market is in going beyond the nature of the ownership of the firms on the one hand and regulating the issued firms based on its marketing quality on the other.The authors argue that the private firms have been qualified for issuing the bonds,and offer some suggestions to improve such bonds market.