不流动资产的定价与股权分置改革研究 - 金融工程

4.2 Value discount of illiquidity ......................................................................... 47
4.3 The analysis of illiquid asset discount rates................................................. 50
4.4 Optimal Portfolio Choice ............................................................................ 58
4.5 The analysis of Optimal Portfolio Choice................................................... 60
5. Empirical examination of Considerration level under the reform
of equity segmentation ....................................................................67
5.1 Comparing theoretical discount rates and practical discount rates....... 68
5.2 Empirical examination ............................................................................... 70
6. Conclusions and future research ......................................................78
Appendix...................................................................................................80
Appendix 1.Relevant Matlab Programs ............................................................ 80
Appendix 2. Simulative Data of discount rates and optimal Portfolio Weights.. 85
Appendix 3 Source Data of Empirical examination under the reform of
equity segmentation .................................................................................... 92
Reference ................................................................................................102
Postscript ................................................................................................113