| The paper,from the point of option pricing technology,concentrates on the improvement of the option pricing model.This paper consists of six parts.In this part,I propose the background of the study and the theme of the present study.The innovation and the framework of this paper is also included.Then this paper introduces the kownledge of the option pricing model and the mathematics which needs in this paper.Also the three kinds of option pricing model are introduced,the three kinds of model is: the binomial tree option pricing model,the Black-Scholes pricing model and the martingale pricing model,which are used in this paper.Part four consists of Charpter Four.Charpter addresses the questions concerning the manager′s manipulation of the stock price,and the increase of the option risks because of long-term slump of the stock market.I suggest to adopt methods to restrict the fluctuating of stock pricing to evaluate the profit of the reload option,I there after construct the new reload option pricing formula and the simulation analysis of it.The improvement lies in :(1)helping to reduce the chances of illegal profit-making manipulated by managers and to curb the manager′s motive to control the stock price;(2)When the stock market keeps slumping,the double barrier reload option will ensure an insurance for the managers.Part five consists of Charpter Five, Taking the dulution effect of reload options into consideration, we obtain the relatively fair reload option pricing formular and explain it by giving an example. The result shows that the value not considering stock dilution is higher than considering it. |
PDF Full Text Request