Function of the Intrinsic Value of the Assets Determined by the Yield Equation and Its Properties

摘要：

In this paper, we try to find some rules of the intrinsic value of assets as the time changes through the view of function. In fact, it means to estimate the intrinsic value of the assets at each moment by the classical principle of discounted cash flow model. We derive the formula of the intrinsic value function from the yield equation in continuous form, and some properties of the function, including linearity, no-arbitrage, and certain characteristics of the intrinsic value curve. Finally, we discuss two application models to estimate the rationality of asset prices with the concept and the mathematical formula of the intrinsic value function proposed in this paper.

关键词： the yield equation discounted cash flow model the intrinsic value function

作者: WANG Xuefeng CHEN Zheng

作者单位: School of Management, Harbin Institute of Technology, Harbin, China, 150001

会议类型: 国际会议

会议名称: The 3rd (2011) International Conference on Financial Risk and Corporate Finance Management(第三届(2011)金融风险与公司金融国际研讨会FRCFM 2011)

会议地点: 大连

会议语种:英文

页码: 26-32

在线出版日期: 2011-06-30（万方平台首次上网日期，不代表论文的发表时间）