金融衍生品的定价与过度需求——对中国企业介入金融衍生品的一个理论解释

Financial Derivatives Pricing and Excessive Demand——A Theoretical Interpretation for Chinese Enterprises Purchase Derivatives

如果金融衍生品定价合理,则金融衍生品将成为公司经营的一个重要组成部分。如果衍生品定价过低,则存在过度需求。本文建立的模型说明,衍生品的合理定价不仅仅与金融市场的因素相关,也与产品市场的行业特征相联系。企业购买金融衍生品时,综合考虑金融市场和产品市场的因素,有利于保持正常需求,避免过度需求。

If pricing of financial derivatives is reasonable, the financial derivatives will become an important part of business. If the price is too low, derivatives are excessive demand. In this paper, the model shows reasonable pricing derivatives not only correlated with financial markets, but also associated with product market characteristics. To maintain the normal demand factors, avoid excessive demand, enterprise must comprehensive consideration of the financial markets and product market.