本文研究了参考证券组合对组合证券选择和均衡资产定价的影响。
In this paper, the effects of benchmark portfolio on portfolio selection and asset pricing are analyzed.
本文讨论了各种均衡状态下，信号的具体实现值对投资者异质信念与资产定价关系的影响。
But based on the realized value of signal, the under-valuation of asset may positive correlated with agents' heterogeneous beliefs.
无成本假说是资本资产定价模型（CAPM）“资产均衡价格与投资者偏好无关结论”的根本原因。
The No-cost Hypothesis is the fundamental cause for "Asset equilibrium price has nothing to do with the investor's preference" in Capital Asset Prices Model (CAPM).
证券交易的执行成本是信息不对称和市场供需不均衡时投资者买卖证券的风险补偿，是资产定价和市场微观结构的重要研究课题。
This paper builds on and extends existing literature on execution cost and expected return in quote - driven stock markets where market makers play a leading role in determining bid - ask spreads.
资产定价理论是现代金融学的核心内容，资产定价的两个基本方法是现代的无套利方法和传统的均衡方法。
Asset pricing Theory is the core in modern finance. The two fundamental approaches of asset pricing are the no-arbitrage and the equilibrium.
资产定价理论是现代金融学的核心内容，资产定价的两个基本方法是现代的无套利方法和传统的均衡方法。
Asset pricing Theory is the core in modern finance. The two fundamental approaches of asset pricing are the no-arbitrage and the equilibrium.
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