In order to get the price of a contingent claim with random interval payoff, a concept of fair price was proposed based on weighted expected utility maximization. After setting up a programming model of maximizing the...In order to get the price of a contingent claim with random interval payoff, a concept of fair price was proposed based on weighted expected utility maximization. After setting up a programming model of maximizing the weighted expected utility involving basic securities and contingent claim,and using techniques in optimization analysis,explicit expressions of the fair price interval for a contingent claim were derived. Relations between acceptable price interval and fair price interval were discussed. It is shown that all fair prices fit the demand for acceptability of a market.展开更多
“A limited company is more than a mere judicial entity, with a personality in law of its own： Behind it, or amongst it, there are individuals, with rights, expectations and obligations inter se”. The competitive at...“A limited company is more than a mere judicial entity, with a personality in law of its own： Behind it, or amongst it, there are individuals, with rights, expectations and obligations inter se”. The competitive attitude of the member states of the EU （European Union）, to become the most attractive for companies results in law reforms aiming at more flexible conflict between shareholders. Besides, the economic objective of avoiding a company＇s dissolution, the English, Dutch, and Belgian exit proceedings for the settlement of disputes between shareholders set up a social objective： protecting the interests of the minority shareholder of a private limited company. The paper consists of four chapters. The introduction lays out the necessity of buy-outs for shareholders of a private limited company. The first chapter describes the different facts justifying the buy-out of a shareholder on the basis of serious grounds. The second chapter presents the findings of a comparative research of the valuation of the shares transferred in an English, Dutch, and Belgian procedure. Finally, the conclusion summarises in which way the English, Dutch, and Belgian legal system protect the interests of the minority shareholder of a private limited company.展开更多
文摘In order to get the price of a contingent claim with random interval payoff, a concept of fair price was proposed based on weighted expected utility maximization. After setting up a programming model of maximizing the weighted expected utility involving basic securities and contingent claim,and using techniques in optimization analysis,explicit expressions of the fair price interval for a contingent claim were derived. Relations between acceptable price interval and fair price interval were discussed. It is shown that all fair prices fit the demand for acceptability of a market.
文摘“A limited company is more than a mere judicial entity, with a personality in law of its own： Behind it, or amongst it, there are individuals, with rights, expectations and obligations inter se”. The competitive attitude of the member states of the EU （European Union）, to become the most attractive for companies results in law reforms aiming at more flexible conflict between shareholders. Besides, the economic objective of avoiding a company＇s dissolution, the English, Dutch, and Belgian exit proceedings for the settlement of disputes between shareholders set up a social objective： protecting the interests of the minority shareholder of a private limited company. The paper consists of four chapters. The introduction lays out the necessity of buy-outs for shareholders of a private limited company. The first chapter describes the different facts justifying the buy-out of a shareholder on the basis of serious grounds. The second chapter presents the findings of a comparative research of the valuation of the shares transferred in an English, Dutch, and Belgian procedure. Finally, the conclusion summarises in which way the English, Dutch, and Belgian legal system protect the interests of the minority shareholder of a private limited company.
