可转换债券定价模型探讨

针对可转换债券的性质及相关内容进行了深入分析 ,并给出影响其发行效果的组合模型 .在详细考察基础变量——利率和股票价格行为特征的基础上 ,运用无套利原理推导出可转换债券的双因素定价模型 ,其特例便是著名的 Black-Scholes模型.     

我国企业债券市场流动性现状与对策

阐述了债券市场流动性理论,分析了我国企业债券市场流动性现状,并针对我国企业债券市场存在流动性过低、阻碍了中国金融市场融资结构的改革步伐等问题,提出了提高企业债券市场流动性的对策设想。     

Vasicek状态空间模型与上交所国债利率期限结构实证

在分析现有多因子V asicek利率模型基础上,通过改进模型状态因子非相关性假定,推导出新的单、双因子V asicek状态空间利率模型及相应参数估计方法。最后利用上交所国债隐含的收益率数据估计了单因子及双因子V asicek状态空间利率模型。实证表明改进的双因子V asicek利率模型,比较准确地描述了利率期限结构的动态变化特征。     

质子化N，N＇-双（吡啶基-2-亚甲基）-1，4-二氮环庚烷高氯酸盐的合成、表征和晶体结构研究

合成并表征了一个吡啶功能化1,4-二氮环庚烷(DACH)化合物[N,N'-双(吡啶基-2-亚甲基)-1,4-二氮环庚烷]的质子化高氯酸盐. 用X-射线衍射技术测定了标题化合物H4BPDACH·(ClO4)4·1.5H2O (1)的晶体结构三斜晶系,P-1空间群,晶胞参数a=0.791 1(5) nm, b=1.269 5(9) nm, c=1.517 8(11) nm, α=104.448(13)°, β=102.383(13) °, γ= 92.159(12) °, V=1.435 2(17) nm3, Z=2. 化合物1的不对称单元中包含两个晶体学独立的[H4BPDACH]4+阳离子,其中DACH环均采取类似的船式构象,但两个侧臂吡啶环分别采取顺势和反式排列. 质子化NH基团和溶剂及阴离子之间存在多重氢键相互作用,这进一步稳定了此结构.     

浅议我国企业债券市场发展途径

通过对我国企业债券发展历程及存在问题的研究，探讨了企业债券的发展途径，提出了相应的政策建议。     

鸡溶菌酶和重组大肠杆菌融合蛋白(NADP-GDH)体外分子交联的初步研究

用PCR方法克隆的大肠杆菌NADP特异性谷氨酸脱氢酶 (NADP specificglutamatedehydrogenase ,NADP GDH)基因和其突变基因 ,插入表达载体pTrcHisC构建重组蛋白质表达体系 .经过IPTG诱导表达 ,用Talon固定化金属亲和层析树脂纯化出重组的天然和突变NADP GDH ,将它们和溶菌酶 (Lysozyme)通过热诱导去折叠方法进行体外蛋白质分子交联实验 ,在去折叠反应液中加入还原剂二硫苏糖醇 (DTT)后 ,不但没有分子间二硫键交联形成 ,同时也没有其他分子间共价键 (异肽键 )交联的形成 .另外 ,半胱氨酸残基定点突变后的NADP GDH重组蛋白质 ,无法参与形成分子间二硫键 ,实验证实经过热诱导去折叠后也没有分子间共价键 (异肽键 )交联 .这些结果进一步证明蛋白质分子间二硫键的形成能够促进蛋白质其他分子间共价键 (异肽键 )的形成 .     

[Ag(C_3H_(10)N_2)]·(C_7H_4NO_4)·2H_2O的合成和结构

以氧化银、4 -硝基苯甲酸和 1,2二氨基丙烷为原料 ,合成出标题配合物 [Ag(C3 H10 N2 ) ]·(C7H4NO4)·2H2 O .该配合物经X射线单晶结构分析结果表明 ,属三斜晶系 ,空间群为P-1,a =7.139(2 ) ,b =7.5 0 9(2 ) ,c =14 4 .0 0 7(4 ) ,α=78.5 0 5 (5 ) ,β =78.789(4 ) ,γ =82 .0 2 3(2 )° ,V =717.8(4 ) 3 ,Z =2 ,F(0 0 0 ) =388,Dc =1.5 4 4g/cm3 ,最终偏差因子R[I>2 ((I) ]a:R1=0 .0 36 1,wR2 =0 .0 916 .     

Hardness of materials: studies at levels from atoms to crystals

Based on the electron-holding energy per unit volume, we extend the concept of hardness to atomic stiffness, ionic stiffness and bond hardness, investigating the nature of material hardness at these three levels. We find that the stiffness of isolated atoms or ions has no direct connection with the hardness of materials, whereas material hardness is directly related to bond hardness, which is essentially determined by the electron-holding energy of its constituent chemical bonds per unit volume. We establish a model for identifying the hardness of materials on the basis of bond hardness. This work offers a deeper understanding of the nature of material hardness at the atomic level, and provides a practical guide in the search for new superhard materials. Supported by National Natural Science Foundation of China (Grant No. 20471012), Program for New Century Excellent Talents in University (Grant No. NCET-05-0278) and Foundation for the Author of National Excellent Doctoral Dissertation of China (Grant No. 200322)     

New development of concept of electronegativity

The concept of electronegativity (EN), which was proposed by Pauling in 1932, is closely related to such properties of molecules as the polarizability, hardness (softness) and charge distribution, and is an important theoretical basis for judging the properties of substances. With the development of new materials and the increase of interdisciplinary cooperation, EN has been a basic atomic parameter which is widely used in the fields of chemistry, physics and materials science. The development of EN has involved three stages, atomic EN, ionic EN and bond EN. The ionic EN, which is the EN values of elements in different valence states by including the chemical environment of atoms, accurately describes various physical and chemical properties of ions and compounds. The bond EN is a bridge linking atomic EN and the properties of materials, which helps us to establish the quantitative correlation between macroscopic properties and microscopic electronic structures of materials. The concepts of ionic EN and bond EN broaden the scope of EN theory, and play important roles in the design of novel materials. This paper presents a detailed introduction of a new development of EN and its applications in materials research. Supported by the Program for New Century Excellent Talents in University (Grant No. NCET-05-0278) and Foundation for the Author of National Excellent Doctoral Dissertation of China (Grant No. 200322)     

投资者异质信念下可转换债券赎回策略

可转换债券现有研究模型多建立在投资者理性范式之下,较少考虑投资者异质信念的影响,易造成可转换债券定价偏差,市场上所存在的众多异象如推迟(或提前)赎回至今也未能获得良好的解释.将行为金融理论引入可转换债券定价模型之中,采用投资者的后悔厌恶来表征投资者的异质信念,构建了投资者异质信念下可转换债券定价模型,重点探讨了异质信念对可转换债券赎回策略的影响.理论模型及数值实验结果均表明可转换债券发行者的后悔厌恶情绪是可转换债券推迟(或提前)赎回的一个重要原因.