| This article applied the Value Engineering into the financial products, two major categories of financial products (fixed-income and structured) were served as a research object from the point of view of commercial banks, with theoretical analysis and case studies.First, the author made a lot of research, and data collection on the basis of development and application of VE theory and financial products. Meanwhile, the author made deep analysis and interviews with experts in the field, which were served as the theory basis and practical foundation.Secondly, this article proceed in-depth analysis and applied research in the two categories of commercial bank financing products. For the fixed-income financial products, based on the risk-return character, the average yield of the functional classification was used as the measure of product features; then the cost of the product to the cost of the risk; with Value Engineering methods, the author established an evaluation model of the value for the fixed-income financial products. Then the author selected a section of fixed-income products, optimized one program, then reduced the risk cost, enhance the comprehensive value of financial products. As for structured products, this article select one of the equity-linked financial products as the object of study, in accordance with the option pricing method and historical simulation method, it determined the products’features and cost, in accordance with the function, cost and value analysis process, this article set a case study of a section of structured financial products, then found out the lower value of the underlying asset, then proposed the program of improvement and innovation.Through theoretical analysis and case studies, the paper confirmed the feasibility and effectiveness of the application of Value Engineering in the financial products, meanwhile, expand the application range of Value Engineering, as well as enhance the value of financial products, reduce the cost of risk. |
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