金融交易中信用担保的动态定价机制:理论与应用——基于金融期权视角的首次探讨

Study on the Application and Mechanism of Credit Guarantee Dynamic Pricing ——First Approachment to the Perspective based on the Finance Option

信用担保业为实现可持续性发展目标,必须实行按担保的理论价格收费原则。本文从分析信用担保的金融期权特征入手,在金融期权价值分析基础上,从金融学角度首次证明了布莱克—舒尔斯定价模型,并将该模型直接应用于信用担保的定价,从理论上构建了基于金融期权视角的信用担保动态定价机制。本研究为解决我国信用担保的科学定价问题,提供理论上的参考,对于加快实现我国信用担保业的可持续发展具有非常重要的理论与现实意义。

This paper introduces the risk pricing into the Credit Guarantee framework, and creates the guarantee pricing model based on the multi-stage debt-delay. It also provides the pricing method on the single-stage debt-delay basis, which develops and deepens the theory of Credit Guarantee pricing with practical analysis, and offers the important thorctical reference.