Therefore, the profits of the speculators or the form of the transformation of the surplus value must be assigned by the arbitragers. The method of the arbitrager to assign the surplus value is corresponding to the trading methods of the future market.

通過以上對(duì)套期保值者讓渡剩余價(jià)值的方法的詳細(xì)分析欧美老妇性挿肛，可以發(fā)現(xiàn)判斷期貨價(jià)格漲跌方向的全新的另一種方法www.youjizz.com日本，即套期保值者作為一個(gè)整體呈現(xiàn)凈空頭的時(shí)候国产女人网站，期貨價(jià)格必定上漲；套期保值者作為一個(gè)整體呈現(xiàn)凈多頭的時(shí)候精品中文字幕在线，期貨價(jià)格必定下跌能看av得网站。

Meanwhile, the contracts ofderivative market differ from the objects of hedging, which causes great inconvenience to hedger.

同時(shí)由于衍生品市場(chǎng)上的上市品種與套期保值企業(yè)的套期保值目標(biāo)對(duì)象常常出現(xiàn)資產(chǎn)不匹配的現(xiàn)象，給套期保值企業(yè)的套期保值避險(xiǎn)目標(biāo)的實(shí)現(xiàn)帶來不便国产精品黄页免费观看。

As a common rule,the classical hedging theories and methods calculate the optimal hedging ratio based on a portfolio including a hedged asset and certain hedging instruments,and don\'t consider risky elements of hedging and hedger\'s realistic requirements during the course of hedging.

傳統(tǒng)的套期保值理論與方法一般將需要套期保值的資產(chǎn)和特定套期保值工具作為一個(gè)投資組合來計(jì)算最優(yōu)套期保值比率国产a片区真实,乱伦，而且一般不考慮套期保值過程中面臨的各種風(fēng)險(xiǎn)因素和套期保值者的實(shí)際需求。

At the same time, the optimal hedge ratio is derived and analysised theorictically. This leads to the disadvantage of existing model blindly pursuing risk-minimizing and ignoring the hedger's expected return being settled, and provides a futures hedging strategy for hedger.

并從理論上推導(dǎo)和分析了最優(yōu)套期保值比率69黄片一级，解決了現(xiàn)有模型的一味追求風(fēng)險(xiǎn)最小化而忽略套期保值者期望收益率和交易成本的不足免费污色网站，為套期保值提供了一種優(yōu)化策略。

The dissertation in depth analyzes the inner relationship between hedging and risk diversification, finds out that the relevance among prices or returns of different assets is the common basis for hedging and portfolio selection,and presents the notion of hedging portfolio selection referring to portfolio selection theory,which means that hedgers choose optimal hedging portfolio from a set of feasible hedging tools considering risky elements and hedger\'s real requirements during the course of hedging.

本文深入分析了套期保值與風(fēng)險(xiǎn)分散化思想的內(nèi)在聯(lián)系三级黄色欧洲激情，指出資產(chǎn)之間價(jià)格的相關(guān)性是套期保值問題和資產(chǎn)組合選擇問題的共同基礎(chǔ)亚洲一级二级，提出應(yīng)該在真正的資產(chǎn)組合選擇理論意義上研究套期保值問題的研究思路，即在充分考慮套期保值過程中各種風(fēng)險(xiǎn)因素和套期保值者實(shí)際要求的基礎(chǔ)上從可供選擇的套期保值工具集合中選擇最優(yōu)套期保值組合亚洲国产精品无码网，并稱這種研究套期保值的方法為套期保值組合選擇国产一区在线观看免费你懂的。

The fusion between the mutually contradicted forms of to sell and to buy the arbitrage. Their combined proposition, the dual arbitrage is the negation of the negation. Deducted by analogy, when summarizing all the trading forms, we can find that they all conform to the trinity philosophy of Hegel. As Marx said,"In Greek, this is the positive, negative and combined proposition. And to those readers who cannot understand Hegel"s language, we tell them a holly formula: positive, negative and the negation of the negation. All these trading forms follow the principles of the change of quantity and quality, the contradictive unification and the negation of the negation.

我們把套期保值交易看作正題，那么久久免费最新视频，賣出套期保值是肯定一一買入套期保值是否定台湾农村寡妇特级A毛片，這兩個(gè)包含在反題中的對(duì)抗因素的斗爭(zhēng)，形成辯證運(yùn)動(dòng)anjiuse在线观看；賣出套期保值和買入套期保值就可以互相轉(zhuǎn)化；這兩個(gè)彼此矛盾的交易，形成新的合題18岁禁止的黄色网站，就形成一個(gè)新的交易形式免费看亚洲一区二区三区黄色视频，即賣出套期保值和買入套期保值這兩個(gè)彼此矛盾的融合，它們的合題——雙向套期保值是否定之否定极品婬荡少妇XXXXX。

Finally,the study on the core of hedge research-i.e,the optimum hedge strategy can provide theoretic support in improvement of hedge efficiency and its application in investment practice.

最后久久精品1，套期保值策略的最優(yōu)化問題，也是套期保值研究中最核心的內(nèi)容全网在线毛片网址，這一課題的研究可以對(duì)提高套期保值效果岛国性爱视频在线，為套期保值在投資實(shí)務(wù)中的應(yīng)用提供理論上的支撐。

Meanwhile, the index futures hedge theory has also get a further development, which evolves from traditional hedge theory, the selectivity hedge theory and modern hedge theories. After analyzing the merits and shortcomings of the three theories, the paper mainly studies four minimum square hedge theory models, which are The traditional static OLS model, VECM model, one variable GARCH(1, 1) model and one variable GJR-GARCH(1, 1, 1) model. Established on September 8th in 2006, China Financial Futures Exchange initiated a new era of our country finance ramification-- index futures, opening a door for the China futures industry.

而股指期貨的套期保值理論也隨之得到長(zhǎng)足發(fā)展欧美孕交丰满熟妇XXXX性，歷經(jīng)傳統(tǒng)套期保值理論日本免费的黄色网站、選擇性套期保值理論和現(xiàn)代套期保值理論，本文在分析三大理論優(yōu)缺點(diǎn)的同時(shí)麻豆国产原创视频在线看，著重研究現(xiàn)代套期保值理論即最小方差避險(xiǎn)理論的四種模型：傳統(tǒng)靜態(tài)OLS模型日韩美女A级毛男、VECM模型、單變量GARCH(18050网6080午夜，1)模型欧美人妖一区二区三区、單變量GJR—GARCH(1，1巨乳老熟女人人操人人爽人人操，1)模型国产在线偷窥盗摄精品福利。2006年9月8日，中國(guó)金融期貨交易所的成立1级A片，掀開了我國(guó)金融衍生品種股指期貨的新紀(jì)元色色月，迎來了中國(guó)期貨行業(yè)發(fā)展的機(jī)遇期。

The main work of the paper is shown as follows.1 The optimal model of the single and combinatorial hedging based on the constraints of total loss is established.The paper takes the positive profit skenewss as constraint of serious loss\' probability, which the tail of curved shape on density function of the hedging yield elongates right,and the left tail become short.

論文的主要工作如下：(1)建立了基于整體風(fēng)險(xiǎn)控制的單品種和多品種的套期保值優(yōu)化模型通過套期保值收益率的偏度大于等于零亚洲日韩欧美在线视频播放，使得套期保值收益率密度函數(shù)的尾部向右拉長(zhǎng)亚洲中文字幕在线四区，而左端的尾部較短。

Managing the price risk of cash by using futures contract is a ordinary method in hedging, the determination of optimal hedge ratio is the core of theoretical issues.

用期貨合約對(duì)沖現(xiàn)貨的價(jià)格風(fēng)險(xiǎn)是許多企業(yè)常用的套期保值方法欧美性爱电影免费看，其中最優(yōu)套期保值比率的確定又是套期保值理論的核心問題日本超刺激视频在线观看网站。

hedge：套期保值

中國(guó)資金治理網(wǎng) 蔣玲 套期保值(Hedge)是指把期貨市場(chǎng)當(dāng)作轉(zhuǎn)移價(jià)格風(fēng)險(xiǎn)的場(chǎng)所,利用期貨合約作為將來在現(xiàn)貨市場(chǎng)上買賣商品的臨時(shí)替代物,對(duì)其現(xiàn)在買進(jìn)預(yù)備以后售出商品或?qū)硇枰I進(jìn)商品的價(jià)格進(jìn)行保險(xiǎn)的交易活動(dòng).

hedge against：套期保值

have one's "two commas" 百萬富翁 | hedge against 套期保值 | housing mortgage 住房按揭

hedge against：套期保值 來源:考試大

have one's "two commas" 百萬富翁 來源:考試大 | hedge against 套期保值 來源:考試大 | housing mortgage 住房按揭來源:考試大

hedge against：套期保值 WWf中國(guó)學(xué)習(xí)動(dòng)力網(wǎng)

have one's "two commas" 百萬富翁 WWf中國(guó)學(xué)習(xí)動(dòng)力網(wǎng) | hedge against 套期保值 WWf中國(guó)學(xué)習(xí)動(dòng)力網(wǎng) | housing mortgage 住房按揭 WWf中國(guó)學(xué)習(xí)動(dòng)力網(wǎng)

hedge against：套期保值 來源:考試學(xué)習(xí)網(wǎng)

have one's "two commas" 百萬富翁 來源:考試學(xué)習(xí)網(wǎng) | hedge against 套期保值 來源:考試學(xué)習(xí)網(wǎng) | housing mortgage 住房按揭來源:考試學(xué)習(xí)網(wǎng)

selling hedge：賣出套期保值

23免费99精品久久七七桃花、 convergence 趨同,期貨合約和現(xiàn)貨合約趨向一致 | 25黄色录像网站一个片、 selling hedge 賣出套期保值 | 26、 open contracts 持倉(cāng)合約

hedger：套期保值者

套期保值者(Hedger)是指那些把期貨市場(chǎng)作為價(jià)格風(fēng)險(xiǎn)轉(zhuǎn)移的場(chǎng)所,利用期貨合約作為將來在現(xiàn)貨市場(chǎng)上進(jìn)行買賣商品的臨時(shí)替代物,對(duì)其現(xiàn)在買進(jìn)準(zhǔn)備以后售出或?qū)硇枰I進(jìn)商品的價(jià)格進(jìn)行保值的機(jī)構(gòu)和個(gè)人.

commercial hedger：兩- 商業(yè)套期保值者 臺(tái)- 商業(yè)避險(xiǎn)者

commercial gain 港- 商業(yè)利益;商業(yè)收益 | commercial hedger 兩- 商業(yè)套期保值者 臺(tái)- 商業(yè)避險(xiǎn)者 | commercial investment 港- 商業(yè)投資 臺(tái)- 商業(yè)投資

hedging：套期保值

所謂"套期保值"(Hedging)是指把期貨市場(chǎng)當(dāng)作轉(zhuǎn)移價(jià)格風(fēng)險(xiǎn)的場(chǎng)所,利用期貨合約作為將來在現(xiàn)貨市場(chǎng)上買賣商品的臨時(shí)替代物,對(duì)其現(xiàn)在買進(jìn)準(zhǔn)備以后售出商品或?qū)硇枰I進(jìn)商品的價(jià)格進(jìn)行保險(xiǎn)的交易活動(dòng)

hedgers：套期保值者

你是否有過要你的股票經(jīng)紀(jì)人在一個(gè)特定的價(jià)..套期保值者(hedgers) 那些通過放棄部分潛在收益來降低風(fēng)險(xiǎn)的人. 套期保值者是處于減少風(fēng)險(xiǎn)暴露程度的交易部位. 同一個(gè)人可能在某些風(fēng)險(xiǎn)暴露面前是一個(gè)投機(jī)者,而在另一些風(fēng)險(xiǎn)面前是一個(gè)套期保值者.