A project finance option design under asymmetric information and its martingale analysis

摘要：

In China, big share holders often invade mid-small share holders benefits counting on their privilege information under asymmetric information, it is much more difficult for a Chinese to have a stock partnership with stranger, and therefore, many potentially perfect projects can not raise enough funds to be carried on. An exotic option finance structure is proposed to handle this problem to protect mid-small share holders benefits and to raise funds for their projects. However, this finance structure would bring difficulties when making investment decisions in the traditional method, therefore a martingale analysis is provided and an example is given.

关键词： Option Project Finance Asymmetric Information Martingale

作者: Shichang FU

作者单位: School of development studies,YunNan University,Kunming,650091,China

会议类型: 国际会议

会议名称: 2008 International Conference on Risk and Relianility Management(2008风险与可靠性管理国际会议)

会议地点: 北京

会议语种:英文

页码: 31-35

在线出版日期: 2008-11-10（万方平台首次上网日期，不代表论文的发表时间）