http://chineseinput.net/에서 pinyin(병음)방식으로 중국어를 변환할 수 있습니다.
변환된 중국어를 복사하여 사용하시면 됩니다.
Valuation of Guaranteed Contracts Set Relative to Cross-currency Stochastic Rates of Return
Tsung-Yu Hsieh,Chi-Hsun Chou,Son-Nan Chen 한국증권학회 2014 Asia-Pacific Journal of Financial Studies Vol.43 No.4
We derive the pricing formulas for guaranteed contracts with guaranteed minimum rates ofreturn linked to cross-currency stochastic rates of return under a cross-currency framework. These rates are often embedded in contracts such as life and pension insurance policies, guaranteedinvestment contracts, and index-linked bonds. Valuation of such contracts has notbeen investigated in the previous literature. Our research finds that the past valuation ofthese rates via a single-currency framework causes significant underestimation under bothmaturity and (especially) multi-period guarantees. Our pricing formulas are more suitable,tractable, and feasible in practice than those in the previous literature.
Cheng-En Ho,Wan-Zhen Hsieh,Tsung-Hsun Yang 대한금속·재료학회 2015 ELECTRONIC MATERIALS LETTERS Vol.11 No.1
The early stage of soldering reaction between Sn-3Ag-0.5Cu solderand ultrathin-Ni(P)-type Au/Pd(P)/Ni(P)/Cu pad was investigatedby field-emission scanning electron microscopy (FE-SEM) inconjunction with field-emission electron probe microanalysis (FEEPMA)and high-resolution transmission electron microscopy(HRTEM). FE-SEM, FE-EPMA, and HRTEM investigationsshowed that Ni2SnP and Ni3P were the predominant P-containingintermetallic compounds (IMCs) in the soldering reaction and thattheir growth behaviors strongly depended on the depletion of Ni(P). The growth of Ni3P dominated over that of Ni2SnP in the earlystage of soldering, whereas the Ni3P gradually transformed intoNi2SnP after Ni(P) depletion. This Ni(P)-depletion-induced Ni2SnPgrowth behavior is different from the reaction mechanisms reported in the literature. Detailed analyses of the microstructuralevolution of the IMC during Ni(P) depletion were conducted, and a two-stage reaction mechanism was proposed to rationalizethe unique IMC growth behavior.