| 中国债券市场新债定价研究 | |
| 朱世武 ; 邢丽 ; ZHU Shi wu ; XING Li | |
| 2010-06-07 ; 2010-06-07 | |
| 关键词 | 新债发行 定价模型 定价方法 new bond issue pricing model pricing method F830.9 |
| 其他题名 | The Research on the Issuing Price in Chinese Bond Market |
| 中文摘要 | 债券向来被认为是一种风险较低、收益稳定的投资对象,但是如果其定价出现偏差,一样会带来较高的风险。目前研究债券定价的文献大多数都集中在二级市场债券流通价格的估计上,而债券在发行时价格的合理与否却鲜有人关注,以至于某些券种在上市后的价格与发行时相比有较大的波动。文章着重研究不同种类的债券在一级市场上发行定价以及在二级市场上市的合理价格等问题,应用现金流贴现的思想,结合不同种类债券的特点,介绍几种定价模型,对不同定价方法在我国债券市场上应用的优缺点进行分析,并结合分析结果提出几点提高定价准确性的建议。; Bond has always been considered as a less risky investment instrument with stable income. However, it may bring high risk if the price deviates from its value. The current research papers on bond pricing mostly focus on the estimation of trading prices in the secondary market, while little attention has been paid to the rationality of the issuing prices. In reality, the prices of some certain type of bonds have appeared severe fluctuations when first traded in the secondary market. Therefore, this paper emphasizes on the rationality of the issuing price. For different kinds of bonds, we will introduce some pricing models by the idea of cash flow discount. What is more, we will analyze the advantages and disadvantages of different pricing models, and give some suggestion so as to make the pricing more accurate.; 国家自然科学基金资助项目(70273016) |
| 语种 | 中文 ; 中文 |
| 内容类型 | 期刊论文 |
| 源URL | [http://hdl.handle.net/123456789/38576]  |
| 专题 | 清华大学 |
| 推荐引用方式 GB/T 7714 | 朱世武,邢丽,ZHU Shi wu,等. 中国债券市场新债定价研究[J],2010, 2010. |
| APA | 朱世武,邢丽,ZHU Shi wu,&XING Li.(2010).中国债券市场新债定价研究.. |
| MLA | 朱世武,et al."中国债券市场新债定价研究".(2010). |
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