Due to the probably of the credit risk, we give the two-factor pricing model with credit risk.
由于信用风险的存在，本文还在介绍信用风险结构理论的基础上，给出考虑了信用风险的双因素定价模型。
A new approach is employed to test herding towards the market portfolio, which is based on the cross-sectional dispersion of the factor loading of asset pricing model within Shanghai stock market.
采用一种利用资产定价模型因子载荷截面离散度指标测度羊群行为的新方法来检验上海股票市场是否存在以市场指数为领头羊的羊群行为。
In uncertainty fiction circumstance, this paper constructs the two factors mortgage pricing model including interest rate, house price and other factor models.
在不确定环境下，本文通过结合利率随机过程模型、房价随机过程模型和其它因素模型，构建了双因素的贷款结构化期权定价模型。
Through the stochastic discount factor model, it is easy to understand some classical problems of modern finance, such as arbitrage pricing theory and risk neutral pricing, etc.
现代金融学的许多经典问题，如套利定价原理以及风险中性定价等都可以用随机折现因子模型理解，随机折现因子模型是资产定价模型的统一框架。
Therefore, the paper suggests that CAPM is ineffective and the asset pricing depends on multi-factor model in Shanghai A-share market.
因此，在上海A股市场，CAPM失去了有效性，资产定价可以由多因素模型决定。
Based on this result, we develop a three-factor affine model and deduce the formula for pricing bonds.
由此我们建立了一个三因子仿射模型，并给出债券的定价公式。
Based on this result, we develop a three-factor affine model and deduce the formula for pricing bonds.
由此我们建立了一个三因子仿射模型，并给出债券的定价公式。
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