English Abstract: The fundamental pricing theory of derivatives is based on the assumptions of arbitrage-free and … with two assets and two states provides an intuitive and concise way to interpret this theory. As a result, English …

the abnormal returns and volatility changes of those component stocks. The empirical results show that, after the removal … volatility. To reduce the possible impact on volatility, the authorities may take the activity of margin transactions into …

English Abstract: Risk-neutral valuation is the foundation of modern derivative pricing theory. However, Chinese …

the evolution on the understanding of arbitrage, the breakthrough from a deterministic world into a world of uncertainty …