⑴ mαybe 45 千克什麼意思中文
mαybe 45 千克什麼意思中文？
答:可能45千克。。
⑵ 金融學小論文英文
development of modern finance
First, the financial problem of the uncertainty
(A) the uncertainty of the field in the application of asset pricing
1. Portfolio Theory and Capital Asset Pricing Model
In the framework of the financial analysis, introction of the concept of uncertainty is a major role. First Kenes (1936) and Hicks (1939) proposed the concept of risk compensation that the financial procts in the presence of uncertainty, should interest rates in different financial procts in compensation for additional risks. Subsequently, Von Neumann (1947) applied the concept of expected utility of the proposed settlement in the decision-making under uncertainty in the method chosen, on this basis Markowiz (1952) developed a portfolio theory, he thought when investors choose portfolio concerned only with future cash flow of the mean and variance. He assumed that the expected utility of investors consistent with secondary distribution or multinomial distribution. Markowiz The main conclusions are subject to uncertainty, optimal decision-making is a diversified investment holding. Tobin (1958) that investor liquidity preferences for their own benefits and risks of different options for the balance. This further improved the framework of portfolio choice theory.
In the field of asset pricing model is another well-known theory of capital pricing model (CAPM), Sharp (1994) and Lintner (1995) using the formula succinctly expressed the portfolio value and risk-free interest rate and the level of risk assets, the relationship between . Black (1972) introced even in the non-risk assets zones remained the case, Sharp and the CAPM formula is still valid, just without the risk of interest rates are including the entire market on all assets of the portfolio rate of return instead of the 預期. Contemporary with the CAPM model of the asset pricing model also Ross (1977) arbitrage pricing model (APT) and Lucas (1978) the typical agent asset pricing model.
Represented by CAPM asset pricing model for asset pricing provides a simple method of calculation, and obtain some support from empirical studies (Fama and Macbeth, 1973), but in reality some of the anomalies is still a lack of effective explanatory power, Brennan (1989) that the CAPM is based on the expectations of all investors in the investment and risk are common in estimates and judgments, and all investors the same utility function based on the assumption that this assumption is inconsistent with the reality This is leading to some practical problems CAPM on the root causes of the lack of explanatory power. It is beyond doubt on these assumptions, to promote the introction of the concept of asymmetric information and research.
2. Market efficiency hypothesis
Market efficiency hypothesis that in a perfectly competitive market, there is no asymmetric information and market frictions affect the future earnings of the average investment risk is different. 60s in the 20th century a large number of research workers on the market efficiency hypothesis was tested, Fama (1973) through empirical tests on the U.S. stock market, that the efficient market hypothesis holds, but many researchers found that in the market, There are many market efficiency hypothesis or CAPM model can not explain the abnormal phenomenon. For example, Basu (1977) found that the average earnings assets, in addition to the β coefficient of the CAPM, but also with the price earnings ratio of assets (P / E ratio) is related to the same β coefficient, the higher the price earnings ratio stocks (growth stocks) better than the market price of the low price earnings ratio of stocks (value stocks); Benz (1981) found that the market price of the stock with the size of the listed company; Stattman (1980) found that stock prices and the ratio of book value (P / B ratio) is also an important factor affecting stock prices. Fama and French (1993) On the basis of the above three-factor model proposed that the impact of asset prices in the β factors, joined the P / E ratio and P / B ratio factor.
The interpretation of these anomalies, the efficient market hypothesis seems powerless, someone had tried the "January effect" to the end of Shuishou interpreted as the impact of outflow, but in the United Kingdom, Australia, the annual revenue of the country is not in December, there are still "in January effect "can not be explained. Some scholars from a psychological perspective to explain these anomalies, such as, Dreman (1982) the stock price P / E ratio effect interpreted as the investor always overestimate growth stocks with high growth, leading to market high P / E ratio of stock market was overvalued, that it is a reason for low stock returns.
3. Continuous time model
In asset pricing theory is another important assumption: stock market is always in a continuous process, under this assumption, Merton (1969,1971) to develop instantaneous CAPM Capital Asset Pricing Model (ICAPM), the same information symmetry, frictionless market, asset price changes in line with Ito process under these conditions, asset prices and investor preference for independent effectiveness. In subsequent studies Merton (1973) and Black (1973) The application of these continuous-time model has been successful in the option pricing formula, the formula was later confirmed that a large number of empirical studies and has been widely applied in practice.
(B) the uncertainty of financial management in the company of
Financial analysis is another important area of financial management, major research firms in the investment decision-making in the proportion of the debt and equity options, the company's dividend policy and other issues. Results of the first studies in this area by the Modigliani and Miller (1958) made their study shows that full market (no market frictions and asymmetric information exists) the value of the company has nothing to do with the company's debt ratio (MM theorem). A similar study concludes that the value of the company's profit distribution policy has nothing to do. Obviously, these research findings and practical in reality. MM theorem based on the conclusions in the distribution of profits, e to the cash outflow will be sent found Jinhong Li, the Company repurchased shares will be more willing to choose policies, rather than the dividend policy, in reality, many companies prefer to dividends rather than Share buy-back, this phenomenon is Black (1976) referred to as "Company dividend puzzle (Dividend Puzzle)", which Miller (1977) can give the explanation, MM theorem conclusion is that the reason and the reality of different tax and the so-called bankruptcy costs on the financial structure is the result of certain liabilities of the company can achieve the role of tax relief, another company because of the existence of high debt ratio risk of bankruptcy, so the debt ratio to the value of existing shares affected, Miller and Other scholars make on these financial problems are not very satisfactory interpretation of the whole until later after the introction of asymmetric information, it seems Caii explain these issues to achieve a breakthrough.
As mentioned above, some of the phenomena of reality is difficult to simply use the uncertainty (risk) to get a satisfactory explanation, it is in the research of these issues raises the question of asymmetric information on financial concerns, plus last 60 years in the 20th century to game theory, represented a breakthrough in the information economy research methods, leading many scholars to the financial problems of asymmetric information in the study achieved a lot, especially the use of asymmetric information can explain a lot of perfectly the financial structure issues. Following is an overview of this still results in two parts, first in the results of financial decision-making, followed by the asset pricing results.
(A) asymmetric information in corporate financial management application
⑶ ybe90l-4電機型號含義是什麼
y:Y系列鼠籠式非同步電動機
b:隔爆型
e:軟啟動
90:電機的中心高為90mm
l:長機座
4:4極電機
⑷ ybe凸輪軸原裝是什麼牌子
牌子的話都是普配的，也沒多大關系。
你拆下來看看就知道了。
⑸ YBE什麼意思
年度基本減免額 years basic exemption
⑹ 求金融數學The mathematics of Finance:Modeling and Hedging.Joseph Stampfli,Victor Goodman這本書
1 Financial Marketsl.l Markets and Mathl.2 Stocks and Their Derivativesl.2.l Forward Stock Contractsl.2.2 Call Optionsl.2.3 Put Optionsl.2.4 Short Sellingl.3 Pricing Futures Contracts1.4 Bond Marketsl.4.l Rates of Returnl.4.2 The U.S. Bond Marketl.4.3 Interest Rates and Forward Interest Ratesl.4.4 Yield Curvesl.5 Interest Rate Futuresl.5.l Determining the Futures Pricel.5.2 Treasury Bill Futuresl.6 Foreign Exchangel.6.l Currency Hedgingl.6.2 Computing Currency Futures2 Binomial Trees, Replicating Portfolios,and Arbitrage2.l Three Ways to Price a Derivative2.2 The Game Theory Method2.2.l Eliminating Uncertainty2.2.2 Valuing the Option2.2.3 Arbitrage2.2.4 The Game Theory Method--A General Formula2.3 Replicating Portfolios2.3.l The Context2.3.2 A Portfolio Match2.3.3 Expected Value Pricing Approach2.3.4 How to Remember the Pricing Probability2.4 The Probabilistic Approach2.5 Risk2.6 Repeated Binomial Trees and Arbitrage2.7 Appendix: Limits of the Arbitrage Method3 Tree Models for Stocks and Options3.l A Stock Model3.l.l Recombining Trees3.l.2 Chaining and Expected Values3.2 Pricing a Call Option with the Tree Model3.3 Pricing an American Option3.4 Pricing an Exotic Option--Knockout Options3.5 Pricing an Exotic Option--Lookback Options3.6 Adjusting the Binomial Tree Modelto Real-World Data3.7 Hedging and Pricing the N-Period Binomial Model4 Using Spreadsheets to Compute Stockand Option Trees4.l Some Spreadsheet Basics4.2 Computing European Option Trees4.3 Computing American Option Trees4.4 Computing a Baeder Option Tree4.5 Computing N-Step Trees5 Continuous Models and the Black-Scholes Formula5.l A Continuous-Time Stock Model5.2 The Discrete Model5.3 An Analysis of the Continuous Model5.4 The Black-Scholes Formula5.5 Derivation of the Black-Scholes Formula5.5.l The Related Model5.5.2 The Expected Value5.5.3 Two Integrals5.5.4 Putting the Pieces Together5.6 Put--Call Parity5.7 Trees and Continuous Models5.7.l Binomial Probabilities5.7.2 Approximation with Large Trees5.7.3 Scaling a Tree to Match a GBM Model5.8 The GBM Stock Price Model--A Cautionary Tale5.9 Appendix: Construction of a Brownian Path6 The Analytic Approach to Black-Scholes6.l Strategy for Obtaining the Differential Equation6.2 Expanding V(S,t)6.3 Expanding and Simplifying V(St, t)6.4 Finding a Portfolio6.5 Solving the Black-Scholes Differential Equation6.5.l Cash or Nothing Option6.5.2 Stock--or-Nothing Option6.5.3 European Call6.6 Options on Futures6.6.l Call on a Futures Contract6.6.2 A PDE for Options on Futures6.7 Appendix: Portfolio Differentials7 Hedging7.l Delta Hedging7.l.l Hedging, Dynamic Programming, and a Proof thatBlack--Scholes Really Works in an Idealized World7.l.2 Why the Foregoing Argument Does Not Hold in the Real World7.l.3 Earlier A Hedges7.2 Methods for Hedging a Stock or Portfolio7.2.l Hedging with Puts7.2.2 Hedging with Collars7.2.3 Hedging with Paired Trades7.2.4 Correlation-Based Hedges7.2.5 Hedging in the Real World7.3 Implied VOlatiIity7.3.l Computing with Maple7.3.2 The Volatility Smile7.4 The Parameters A, r, and O7.4.l The Ro1e of r7.4.2 A Further Role for A, r, O7.5 Derivation of the Delta Hedging Rule7.6 DeIta Hedging a Stock PUrchase8 Bond Models and Interest Rate Options8.l Interest Rates and Forward Rates8.l.1 Size8.l.2 The Yield Curve8.l.3 How Is the vield Curve Determined?8.l.4 Forward Rates8.2 Zero-Coupon Bonds8.2.l Forward Rates and ZCBs8.2.2 Computations Based on Y(t) or P(t)8.3 Swaps8.3.l Another Variation on Payments8.3.2 A More Realistic Scenario8.3.3 Models for Bond Prices8.3.4 Arbitrage8.4 Pricing and Hedging a Swap8.4.l Arithmetic Interest Rates8.4.2 Geometric Interest Rates8.5 Interest Rate Models8.5.l Discrete Interest Rate Models8.5.2 Pricing ZCBs from the Interest Rate Model8.5.3 The Bond Price Paradox8.5.4 Can the Expected Value Pricing Method Be Hrbitraged?8.5.5 Continuous Models8.5.6 A Bond Price Model8.5.7 A Simple Example8.5.8 The Vasicek Model8.6 Bond Price Dynamics8.7 A Bond Price Formula8.8 Bond Prices, Spot Rates, and HJM8.8.1 Example: The Hall-White Model8.9 The Derivative Approach to HJM: The HJM Miracle8.lO Appendix: Forward Rate Drift9 Computational Methods for Bonds9.l Tree Models for Bond Prices9.l.1 Fair and Unfair Games9.l.2 The Ho-Lee Model9.2 A Binomial Vasicek Model: A Mean Reversion Model9.2.l The Base Case9.2.2 The General Inction Step10 Currency Markets and Foreign Exchange Risks1O.l The Mechanics of TradinglO.2 Currency Forwards: Interest Rate Parity1O.3 Foreign Currency OptionslO.3.l The Garrnan-Kohlhagen FormulalO.3.2 Put--Call Parity for Currency OptionslO.4 Guaranteed Exchange Rates and QuantoslO.4.l The Bond HedgelO.4.2 Pricing the GER Forward on a StocklO.4.3 Pricing the GER Put or Call Option1O.5 To Hedge or Not to Hedgeand How Much11 International Political Risk Analysisll.1 Introctionll.2 Types of International Risksll.2.l Political Riskll.2.2 Managing International Risk1l.2.3 Diversificationll.2.4 Political Risk and Export Credit Insurancell.3 Credit Derivatives and the Management of Political Riskll.3.l Foreign Currency and Derivativesll.3.2 Credit Default Risk and Derivatives1l.4 Pricing International Political Riskl1.4.l The Credit Spread or Risk Premium on Bondsll.5 Two Models for Determining the Risk Premiumll.5.1 The Black--Scholes Approach to Pricing Risky Debtll.5.2 An Alternative Approach to Pricing Risky Debtll.6 A Hypothetical Example of the JLT ModelAnswers to Selected ExercisesIndex
⑺ 雅馬哈天戟YBS與YBE有什麼區別
天戟為實用車型,天劍外形拉風。兩者發動機大體一樣,但內部結構略有不同。
⑻ 這款手錶在卡西歐新款PRW-6600YBE-5PR為啥比同系列的貴一點
這個款式應該是抄屬於襲PRW-6600Y這一個系列裡面，這個系列裡面有三個產品。PRW-6600Y-1PR
（2990元）
PRW-6600YB-3PR
（2990元）
PRW-6600YBE-5PR
（替換表帶套裝
3190元），你說的貴的這一種款式有兩個表帶可以替換。
⑼ 介紹一下金融工程專業
金融工程專業
它是以金融工程為研究對象，以金融創新為核心，綜合運用現代金融理論、工具、技術與方法，創造性地解決金融問題的一門新興金融學科，具有較強的應用性與技術性。主要培養金融產品和金融工具的設計與開發人才、大型企業的財務管理人才和金融技術與開發及金融風險管理人才。
學生畢業後適合在證券與期貨經營和咨詢機構、其它金融機構、證券監管機構、企業集團和上市公司、國家綜合經濟調控部門等單位從事實務和研究開發工作。
畢業生將熟練掌握一門外語，熟悉國際銀行業的通行規則，掌握微觀金融企業原理與操作技能；熟悉各種現代金融工具的特性、功能並具有相應的操作能力，具備較強的市場分析技能和業務素質，能為客戶設計個性化的投資方案；了解基本的資產定價模型，具有處理銀行、證券、投資等相關業務的能力。
本專業文理兼招，但要求文科考生有較好的數學基礎。
專業特色：我國的金融工程專業是參照國外的金融理論研究成果和實踐，並根據我國加入WTO後金融業的變化情況而設立的新興專業，設有銀行風險與投資風險兩個方向。本專業學生的主要專業知識結構包括金融基礎理論；各種金融工具知識；數理知識和網路技術知識；主要專業能力結構包括風險分析和收益預測能力；運用數學模型的能力；無套利均衡分析能力；金融工具定價合理性分析的能力；金融工具合理組合的能力；計算機操作能力；查閱外文資料和用外語進行各種形式交流的能力；經過一定時期的實踐後，具有調控宏觀金融運行的最基本的能力；具有從事金融工程教學與研究的潛在的能力，有進一步培養的價值；通過團隊合作，開發設計新的金融工具的能力。
畢業生應獲得以下幾方面的知識和能力：
1． 掌握馬克思主義經濟學基本理論和方法；
2． 掌握西方經濟學、金融學的理論和方法；
3． 了解基本的資產定價模型，具有處理銀行、證券、投資等相關業務的基本能力；
4． 熟悉各種現代金融工具的特性、功能並具有相應的操作能力，能為客戶設計個性化的投資方案；
5． 能運用計量、統計、會計、金融工程等方法進行投資咨詢分析和研究；
6． 熟悉國家有關經濟、金融的方針、政策和法規；
7． 了解本學科的理論前沿和發展動態；
8． 能夠熟練地掌握一門外語，具有較強的讀、寫、聽、說、譯及信息獲取與處理能力。
主要課程：金融學、財政學、金融工程、衍生產品的定價理論、金融數學、公司財務、商業銀行業務與經營、證券投資學、計量經濟學、隨機分析與隨機控制、信息經濟學、多元統計分析等。
主要開辦學校；
中國人民大學 北京科技大學 中央財經大學 對外經濟貿易大學
天津
南開大學 天津財經大學
上海
上海財經大學 上海對外貿易學院
安徽
安徽財經大學
江西
江西財經大學
浙江
浙江財經學院
湖北
武漢大學 湖北經濟學院
廣東
廣東商學院
雲南
雲南財貿學院
四川
西南財經大學
黑龍江
哈爾濱商業大學
遼寧
東北財經大學
福建
廈門大學
港澳台
香港大學 香港理工大學