无风险套利(Covered Interest Arbitrage)是指套利的同时进行保值,锁定了汇率,即称为无风险套利(亦指利用期指与现指之间的不合理关系进行套利的交易行为(Arbitrage))。无风险套利是一种金融工具,是指把资本(一般是货币)投资于一组外汇中,规定远期汇率,取得外汇的存款收益后按既定的汇率将外汇换回本币,从而获得高于国内存款利率的收益。也就是套利的同时进行保值,锁定了汇率,这就称为无风险套利。
关键词:可转换债券;无风险套利;价格有效性 [gap=628]Keywords: convertible bonds; riskless arbitrage; price efficiency
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...之差别,所造成远期汇率相对于即期汇率之变动 目的:远期汇率相对于即期汇率的调整以避免无风险套利(Covered Interest Arbitrage)
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但这样的无风险套利机会是不存在的。
The potentialfor arbitrage means such profits cannot be earned.
在纯套利或无风险套利交易中,资产的购买和转售是同时进行的,因此套利者自己的资金不承担任何风险。
In pure or riskless arbitrage transactions, the purchase and re-sale of the asset in question are conducted simultaneously, thus the arbitrageur does not risk any of their own funds.
同时,由于无风险套利活动的存在将逐渐实现金融市场的无套利均衡,导致我国股票市场的“规模效应”减弱以致消失。
As the same time, it is considered that the non-risk arbitrage result in the non-arbitrage equilibrium in the stock market which make the size effect gradually abate and disappear.
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