第十章 债券价&

第十章 债券价&

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Copyright©Zhenlong Zheng 2003, Department of Finance, Xiamen University 第第第 第第第第第第
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Copyright©Zhenlong Zheng 2003, Department of Finance, Xiamen University 第第第第第第 收收收收收收收收收收收收收收收收收收收收 Discounted Cash Flow  Method, 收收 DCF 收收收收收收收收收收收收收收收收收收收收收收收收 收收收收收收收收收收收收收收收收收收 intrinsic value 收收收收收收收收收收收 收收收收收收收收
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Copyright©Zhenlong Zheng 2003, Department of Finance, Xiamen University 第第第第 收收收收收收收收收收收收收 zero-coupon bond 收收收收收收收收收收收 收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收 ( 29 1 T A V y = +
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Copyright©Zhenlong Zheng 2003, Department of Finance, Xiamen University 收收收收 收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收 收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收 收收收收收 ( 29 ( 29 ( 29 ( 29 ( 29 2 3 1 1 1 1 1 T T c c c c A V y y y y y = + + + + + + + + + + L
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Copyright©Zhenlong Zheng 2003, Department of Finance, Xiamen University 收收收收 收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收收 收 ( 29 ( 29 ( 29 2 3 1 1 1 c c c c V y y y y = + + + = + + + L
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Copyright©Zhenlong Zheng 2003, Department of Finance, Xiamen University 收收收收收收收收收收收收收收收收收 收收收收收收收收收收收收收收收收收 收收 y > k 收收收收收收收收收收收收收收 y < k 收收收收收收收收收收收收收 ( 29 ( 29 ( 29 ( 29 2 1 1 1 1 n n c c c A P k k k k = + + + + + + + + L
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Copyright©Zhenlong Zheng 2003, Department of Finance, Xiamen University 收收收收收收收收收收收收收收收收收 收收收收收收收收收收收收收收收收收收收收收收收收 收收收收收收收收收收收 V 收收收收收收收 P 收收收收收收收收收收收收收收收收收收收收 NPV 收收收收收
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第十章 债券价&

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