| 基于期权思想的新产品滞销返回权定量研究 |
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| 引用本文： | 邓超,刘洪芳.基于期权思想的新产品滞销返回权定量研究[J].郑州航空工业管理学院学报(管理科学版),2006,24(3):90-93. |
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| 作者姓名： | 邓超 刘洪芳 |
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| 作者单位： | 中南大学商学院,湖南长沙410083 |
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| 摘 要： | 新产品开发是满足社会需求的重要方式，新产品滞销风险是生产厂家和经销商所面临的主要风险之一。为实现生产厂商和经销商共担风险和共享利益的思想，利用实物期权的研究方法，设计了一种新产品滞销返回权，并通过对该返回权的合理定价，定量分析生产厂商和经销商所面临的新产品滞销风险，讨论了用于抵御该风险的成本可能取值区间。所建定价模型及其修正模型为经销商和厂商合理地对新产品返回权进行定价，签订对己有利的协议提供了参考依据。
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| 关 键 词： | 新产品 返回权 看跌期权 无风险套利 |
| 文章编号： | 1007-9734(2006)03-0090-04 |
| 修稿时间： | 2006年3月2日 |
Quantitative Study on Returning Right of Unsalable New Products Based on the Options Theory |
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| DENG Chao,LIU Hong-fang.Quantitative Study on Returning Right of Unsalable New Products Based on the Options Theory[J].Journal of Zhengzhou Institute of Aeronautical Industry Management,2006,24(3):90-93. |
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| Authors: | DENG Chao LIU Hong-fang |
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| Abstract: | The development of new products is an important way to meet social demands.Unsalable risk of new products is a major risk with which distributors and manufacturers have to face.Using the research technique of real option,This paper analyzes quantitatively the unsalable risk of new products borne by distributors and manufacturer separately by means of rational pricing of their returning right.Then,we try to calculate the possible range of the cost to reduce risk. |
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| Keywords: | new product the returning right put option risk-free hedge |
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