投资银行在承销方式下的最优决策分析

模型引入潜在购买量作为推销费的函数,将随机需求量的概率分布与推销费联系起来,确定了投资银行的平均利润和发行量、推销费之间的关系·给出了证券发行市场中投资银行在承销方式下推销费和股票发行量的最优值,从而为投资银行在证券发行市场中如何制定发行及推销策略提供了一种决策工具

Optimal Decision-Making Analysis of Investment Bank with the Mode of the Goods-in on Consignment

The potential purchase volume was introduced as a function of the promotion expense, and the probability distribution of random demand with certain stock was suppossed to relate the promotion expense. Therefore,a model is established to describe the relationship among the average profit of investment bank, the issue volume and the promotion expense. With the mode of the goods in on consignment in the stock issue market, the optimal promotion expense and the issue volume of investment bank are deduced based on the model. Then, a decision making support tool for investment bank is supplied to establish the stock issue strategy and promotion tactics.