摘要
股票联系票据(EquityLinkedNotes)作为一种新型的金融创新产品在发达国家受到众多投资者的青睐,特别是进入20世纪90年代,股票联系票据在发行规模、品种创新和交易手段等方面取得了突飞猛进的发展,而目前国内尚未出现这类证券品种,投资者对股票联系票据还不熟悉,相关的理论研究还较为欠缺,基于这种情况,本文对股票联系票据进行深入的经济学分析,研究该投资工具的风险收益特征和定价原理,并提出我国发展股票联系票据市场的政策建议。
As a kind of new product of financial innovation, Equity Linked Notes (ELN) became many investors'favorites in most of the developed countries. Especially in the 1990's, ELN had made rapid progress with issue scale, variety innovation and deal method. However, there is no such kind of securities in China at present, so domestic investors are not familiar with it and academic research about it is very poor. Because of the aforementioned reasons, this paper analyzes the economic characteristic of ELN and its pricing theory. At last, this paper puts forward many suggestions about how to develop ELN market in China.
出处
《集美大学学报（哲学社会科学版）》
2004年第4期61-67,共7页
Journal of Jimei University：Philosophy and Social Sciences
关键词
股票联系票据
期权定价理论
政策建议
Equity Linked Notes
the pricing theory of options
suggestion
