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满意绩效期权是指当标的资产的价格超过某一固定价格及另一资产价格时,权利持有人有权按其中的较高价格买入标的资产.论文给出了满意绩效期权的解析解、数值解及其对管理人行为的影响,并分析了如何将满意绩效期权应用于投资基金和一般资产组合管理的报酬设计中.
Satisfaction of performance options refers to the rights holders have the right to buy the underlying assets at a higher price when the price of the underlying asset exceeds a certain fixed price and another asset price.The paper gives an analytical solution of a satisfactory performance option, Numerical solution and its impact on the manager’s behavior, and analyzes how to apply the satisfactory performance option to the compensation design of the investment fund and the general portfolio management.