北京大學(xué)光華管理學(xué)院證券投資學(xué)課件第1章-文庫吧
2024-12-26 11:43 本頁面
【正文】 try to understand the market with the use of financial . Sharpe, etc. 什么是金融學(xué) (Finance) ? Finance is a subfield of economics distinguished by both its focus and its methodology. The primary focus of finance is the workings of the capital markets and the supply and the pricing of capital assets. The methodology of finance is the use of close substitutes to price financial contracts and instruments. This methodology is applied to value instruments whose characteristics extend across time and whose payoffs depend upon the resolution of uncertainty. 金融學(xué)的研究領(lǐng)域 ? 金融市場(chǎng) – 宏觀層面：金融框架 – 微觀層面：定價(jià)、風(fēng)險(xiǎn)管理 ? 公司財(cái)務(wù) 歷史 ? H. M. Markowitz 均值 方差模型 (Meanvariance model) – Harry M. Markowitz, Portfolio Selection, Journal of Finance, 7(1):7791, 1952. ? W. F. Sharpe , J. Lintner, J. Mossin 資本資產(chǎn)定價(jià)模型 Capital Asset Pricing Model (CAPM) – W. F. Sharpe, Capital Asset Prices: A Theory od Market Equilibrium Under Conditions of Risk, Journal of Finance, 20(3):425442, 1964. ? S. A. Ross 套利定價(jià)理論 Arbitrage Pricing Theory(APT) – S. A. Ross, The Arbitrage Theory of Capital Asset Pricing, Journal of Economic Theory, 13(3):341360, 1976. ? F. Modigliani M. H. Miller Modigliani Miller 定理 – Modigliani, F., and M. H. Miller, The Cost of Capital, Corpora
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