s—w模型通过引入“基准资产”(benchmark asset)的概念,用来比较不同税收待遇资产的税前收益。基准资产是一种无风险、所获收益每年按普通税率全额课税的资产。
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A sudden loss of confidence in all sovereign debt, and especially in American Treasuries, the world's benchmark "risk-free" asset, would have calamitous consequences in a still-fragile recovery.
对所有主权债突然的的信心丧失,特别是被当作世界无风险债券标竿的美国公债,将在仍然脆弱的经济复苏中造成灾难性的后果。
The estimation of interest rate of term structure has an important estate in financial research, for it is the benchmark for asset pricing, financial products design, hedging and risk management.
利率期限结构的估计在金融研究中有着重要的地位,它是资产定价、金融产品设计、保值和风险管理的基准。
It is the benchmark for asset pricing, financial product design, hedging, risk management, arbitrage and speculation.
它是资产定价、金融产品设计、保值和风险管理、套利及投机的基准。
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