金融资产定价的统一视角及其在风险管理中的应用

在"资本资产定价基本原理"的基础上,通过对于传统定价方法过程的分析和总结,推导了金融资产定价的统一公式,并指明了效用理论中关于人的效用的刻画可以通过该公式中的权重系数体现出来,构成结合了效用理论和个体差异的"金融资产定价的统一视角";针对这一"统一视角",该文举出一例,将其应用于个人投资股票市场风险管理的实践中.

The Unified Perspective of the Financial Asset Pricing and Its Application on Risk Management

Based on capital asset pricing theorem,the unified financial asset pricing formulas is derived through analysis and conclusion of traditional process on assets pricing.The weight coefficients in the unified formulas can character human's unities quantitatively which exists in unity theory.Accordingly,this paper proposes the unified perspective of the financial asset pricing combined unity theory and individual difference.An example,applying the unified perspective,is given to practice the method in the risk management of individual stock investment.