我们注意这里的期限结构很有趣。
If you look at the current term structure, it's interesting.
这里期限结构的走势显然一直向上倾斜。
Now, the term structure was pretty much upward-sloping everywhere.
接下来我要讲利率期限结构,下一张图是
Now, I want to talk about the term structure of interest rates and that's my next plot here.
利率期限结构理论就是，怎样由不同的期限，产生不同的利率？
The theory of the term structure is the theory of how interest rates differ according to maturity or term.
利率期限结构反映的是利率和到期期限之间的关系。
The term structure reflects the relationship between interest rate and maturity.
从经济学理论的角度来看,期限结构的走势为什么会这样呢
The interesting question from the standpoint of economic theory is, why did it have that funny shape?
利率的数量结构、期限结构和风险结构应由市场自发选择；
Market chooses the composition of quantity, limitation and risk of interest rate.
这意味着,在最简单的利率期限结构理论,即利率期限结构的预期理论中
That means, in the simplest-- it's called the expectations theory of the term structure.
构造了信用风险期限结构的框架性模型，属于强度模型流派。
The credit risk pricing model constructed in this paper belongs to the Intensity model Category.
债务的期限结构、类型结构都将对代理成本的高低产生影响。
Debt term structure and debt category structure have an important effect on debt agency cost.
本文采用主成分分析的方法对我国的利率期限结构进行了研究。
This paper analyzes principal components constructing the term structure of interest rates in China.
利率期限结构的理论和模型是金融研究中最具挑战性的课题之一。
The interest rate term structure theory and model is one of the most challenging topics in the financial research.
企业债务期限结构是现代企业资本结构理论的一个重要组成部分。
Debt maturity structure is an important part to compose theory of firm capital structure.
利率期限结构研究不同期限国债即期利率与到期期限之间的关系。
The problem of the term structure of interest rates is about the relation between instantaneous rates and maturities.
经济学中，期限结构是个有趣的话题，因为它揭示了不同到期期限的时间价值。
The term structure is one of the most interesting things in economics because it shows the price of time at various maturities.
我这有一张期限结构图，期限结构其实是，到期收益率与到期期限之间的关系图。
So, I've got here a term structure; well, the term structure is the plot of yield-to-maturity against time-to-maturity.
我们先讲贴现债券，然后是附息债券，再讲讲利率的期限结构，以及为什么要有利率？
We're talking about discount bonds, and then coupon-carrying bonds, and then talk about the term structure of interest rates and why we have interest rates.
自从债权的治理效应得到确认后，人们对债务的研究集中于债务期限结构。
Since the effect of treatment claims are recognized, it is the research focus on the bond debt maturity structure.
利率期限结构描述了不同期限零息债券的收益率及其与到期期限之间关系。
The term structure of interest rates describes the relationships between the yields of zero coupon bonds and their terms to maturity.
并通过无风险利率与到期期限之间的函数关系来确定无风险利率的期限结构。
The term structure of riskless interest rates was established by the relationship between riskless interest rates and the terms of mature.
样条法在利率期限结构的拟合精度、曲线光滑性及平稳性方面的综合效果最好。
The result also reveals that B-spline model performs better than other models integralively in precision of fitting prices, curve smoothness and stability.
企业在发行新债券时必须对交易成本和代理成本进行权衡，寻求最优债券期限结构。
Firms that pursuing optimal bond maturity structure must weigh transaction and agency costs of a new corporate bond issue.
企业可转换债券既是企业市场价值的或有债权，又是利率及其期限结构的或有债权。
Convertible bond is the contingent claim not only of the firm value, but also of interest rate and its term structure.
在CKLS模型的基础上，我们提出了一个加入跳跃过程的单因子利率期限结构模型。
Based on CKLS, we develop a new one-factor term structure of interest rates, which allows for jumps in interest rates.
没有证据显示现金流、银行债务、债务期限结构与企业现金持有水平之间存在相关关系。
However, no evidence shows that cash flow, bank debt, and maturity structure of debt have relation with corporate cash holdings.
但是，再次长期债券通过流通债券期限结构的改变而对冲这种影响(通过从长期国债转向中期国债)。
But, again, the Treasury could offset this effect by changing the maturity structure of its outstanding debt (by shifting toward bills and away from bonds).
本文简要地阐述了利率期限结构理论，并对国内外的有关利率期限结构的模型进行了评述。
This paper simply surveyed the theory of term structure of interest rates and commented native and foreign models of term structure of interest rates.
本文简要地阐述了利率期限结构理论，并对国内外的有关利率期限结构的模型进行了评述。
This paper simply surveyed the theory of term structure of interest rates and commented native and foreign models of term structure of interest rates.
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