Under the assumption that the claim size is subexponentially distributed and the insurance surplus is totally invested in risky asset, a simple asymptotic relation of tail probability of discounted aggregate claims fo...Under the assumption that the claim size is subexponentially distributed and the insurance surplus is totally invested in risky asset, a simple asymptotic relation of tail probability of discounted aggregate claims for renewal risk model within finite horizon is obtained. The result extends the corresponding conclusions of related references.展开更多
The ruin probability of the renewal risk model with investment strategy for a capital market index is investigated in this paper.For claim sizes with common distribution of extended regular variation,we study the asym...The ruin probability of the renewal risk model with investment strategy for a capital market index is investigated in this paper.For claim sizes with common distribution of extended regular variation,we study the asymptotic behaviour of the ruin probability.As a corollary,we establish a simple asymptotic formula for the ruin probability for the case of Pareto-like claims.展开更多
Using panel data from the China Family Panel Studies for 2010,2014 and 2016,this paper uses a two-part model,with the first part using a fixed-effects panel logit model and the second part using a linear logit fixed-e...Using panel data from the China Family Panel Studies for 2010,2014 and 2016,this paper uses a two-part model,with the first part using a fixed-effects panel logit model and the second part using a linear logit fixed-effects model to study the impact of Internet usage on Chinese households’participation in risky financial markets and the intensity of investment in risky assets after participation.The results find that Internet usage can promote household participation in the risky finance market and increase household investment in risky assets.Therefore,accelerating Internet usage can promote Chinese households’participation in the risk finance market.展开更多
The effectiveness of evaluating an investment project based on predicting cash flows depends on the uncertainty of its future cash flows. The remoter the cash flows are, the higher the uncertainty is. Because of this,...The effectiveness of evaluating an investment project based on predicting cash flows depends on the uncertainty of its future cash flows. The remoter the cash flows are, the higher the uncertainty is. Because of this, this paper suggests to discount cash flows by applying risky index of time （RIT）. Thus, the discount rate used to discount the distant cash flows is higher that the discount rate used to discount the near cash flows. By this systematic method, the risk caused by the uncertainty of future cash flows can be hedged in making investment decision. To a certain degree, this approach is reasonable in evaluating investment alternatives under uncertainty. Furthermore, the paper puts forward a practical approach on determining RIT in practice.展开更多
Like other Asian countries,property prices in China have rebounded sharply since the beginning of this year,fueled by loose monetary policies and aggressive bank lending.
基金Supported by the National Natural Science Foundation of China(70871104)the Planning Project of the National Educational Bureau of China(08JA630078)the Project of Key Research Base of Human and Social Sciences(Finance) for Colleges in Zhejiang Province(Grant No. of Academic Education of Zhejiang [2008]255)
文摘Under the assumption that the claim size is subexponentially distributed and the insurance surplus is totally invested in risky asset, a simple asymptotic relation of tail probability of discounted aggregate claims for renewal risk model within finite horizon is obtained. The result extends the corresponding conclusions of related references.
基金supported by National Natural Science Foundation of China (Grant Nos.10571167,70501028)the Beijing Sustentation Fund for Elitist (Grant No.20071D1600800421)+1 种基金the National Social Science Foundation of China (Grant No.05&ZD008)the Research Grant of Renmin University of China (Grant No.08XNA001)
文摘The ruin probability of the renewal risk model with investment strategy for a capital market index is investigated in this paper.For claim sizes with common distribution of extended regular variation,we study the asymptotic behaviour of the ruin probability.As a corollary,we establish a simple asymptotic formula for the ruin probability for the case of Pareto-like claims.
文摘Using panel data from the China Family Panel Studies for 2010,2014 and 2016,this paper uses a two-part model,with the first part using a fixed-effects panel logit model and the second part using a linear logit fixed-effects model to study the impact of Internet usage on Chinese households’participation in risky financial markets and the intensity of investment in risky assets after participation.The results find that Internet usage can promote household participation in the risky finance market and increase household investment in risky assets.Therefore,accelerating Internet usage can promote Chinese households’participation in the risk finance market.
文摘The effectiveness of evaluating an investment project based on predicting cash flows depends on the uncertainty of its future cash flows. The remoter the cash flows are, the higher the uncertainty is. Because of this, this paper suggests to discount cash flows by applying risky index of time （RIT）. Thus, the discount rate used to discount the distant cash flows is higher that the discount rate used to discount the near cash flows. By this systematic method, the risk caused by the uncertainty of future cash flows can be hedged in making investment decision. To a certain degree, this approach is reasonable in evaluating investment alternatives under uncertainty. Furthermore, the paper puts forward a practical approach on determining RIT in practice.
文摘Like other Asian countries,property prices in China have rebounded sharply since the beginning of this year,fueled by loose monetary policies and aggressive bank lending.
