本文關(guān)鍵詞： 結(jié)構(gòu)性理財(cái)產(chǎn)品 市場(chǎng)風(fēng)險(xiǎn)管理 VaR　出處：《廣東財(cái)經(jīng)大學(xué)》2013年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：結(jié)構(gòu)性理財(cái)產(chǎn)品產(chǎn)生于20世紀(jì)80年代的美國(guó)，近年來(lái)由于其高收益吸引了眾多投資者的目光，因而在我國(guó)得到迅速發(fā)展。結(jié)構(gòu)性理財(cái)產(chǎn)品的本質(zhì)是固定收益證券與衍生產(chǎn)品的組合，一部分資金投資于固定收益證券，為投資本金提供了保障；另一部分資金投資于衍生產(chǎn)品，使得理財(cái)產(chǎn)品利用高杠桿獲得高收益成為可能。然而，，結(jié)構(gòu)性理財(cái)產(chǎn)品的高收益背后，不容忽視其高風(fēng)險(xiǎn)，事實(shí)是2013年上半年在披露的預(yù)期收益率未達(dá)標(biāo)的理財(cái)產(chǎn)品中，多數(shù)屬于結(jié)構(gòu)性理財(cái)產(chǎn)品。此外，結(jié)構(gòu)性理財(cái)產(chǎn)品頻頻爆出零收益或負(fù)收益。因此，需要理性對(duì)待結(jié)構(gòu)性理財(cái)產(chǎn)品的高收益，把結(jié)構(gòu)性理財(cái)產(chǎn)品的市場(chǎng)風(fēng)險(xiǎn)管理放在重要位置。 在此背景下，本文首先對(duì)結(jié)構(gòu)性理財(cái)產(chǎn)品進(jìn)行介紹，分解它的組成要素，然后對(duì)我國(guó)當(dāng)前結(jié)構(gòu)性理財(cái)產(chǎn)品市場(chǎng)的特點(diǎn)進(jìn)行歸納。進(jìn)而，對(duì)結(jié)構(gòu)性理財(cái)產(chǎn)品的市場(chǎng)風(fēng)險(xiǎn)管理進(jìn)行系統(tǒng)闡述，并結(jié)合我國(guó)市場(chǎng)情況發(fā)現(xiàn)市場(chǎng)風(fēng)險(xiǎn)管理中存在的問(wèn)題。緊接著，本文詳細(xì)介紹了市場(chǎng)風(fēng)險(xiǎn)度量方法之一的VaR方法，并結(jié)合實(shí)例使用該方法度量理財(cái)產(chǎn)品的市場(chǎng)風(fēng)險(xiǎn)。最后，本文針對(duì)我國(guó)結(jié)構(gòu)性理財(cái)產(chǎn)品中存在的問(wèn)題提出政策建議，以期對(duì)我國(guó)結(jié)構(gòu)性理財(cái)產(chǎn)品市場(chǎng)風(fēng)險(xiǎn)管理起到一定的借鑒作用。
[Abstract]:Structured wealth management products originated in 1980s in the United States, in recent years because of its high returns attracted the attention of many investors. The essence of structured financial products is the combination of fixed income securities and derivative products, and some funds are invested in fixed income securities, which provides the guarantee for the principal investment. The other part of the funds invested in derivative products, making it possible for financial products to use high leverage to obtain high returns. However, the high returns of structured financial products can not be ignored its high risk. The fact is that in the first half of 2013 in the disclosure of the expected return rate of financial products, most of them belong to structured financial products. In addition, structural financial products frequently break out zero or negative returns. It is necessary to treat the high income of structured financial products rationally and put the market risk management of structured financial products in an important position. Under this background, this paper first introduces the structural financial products, decomposes its constituent elements, and then summarizes the characteristics of the current market of structural financial products in China. This paper systematically expounds the market risk management of structured financial products and finds out the problems in the market risk management according to the market situation in our country. This paper introduces the VaR method, one of the methods of market risk measurement, and uses this method to measure the market risk of financial products. Finally. This paper puts forward some policy suggestions in view of the problems existing in structural financial management products in China, in order to provide some reference for the market risk management of structural financial products in China.
【學(xué)位授予單位】：廣東財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類(lèi)號(hào)】：F832.5

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