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61	LMM利率模型下可取消利率交換評價與風險管理 / Cancelable Swap Pricing and Risk Management under LIBOR Market Model 廖家揚, Liao, Chia Yang Unknown Date (has links) 許多公司在發行公司債的時候，會給此公司債一個可提前贖回的特性，此種公司債稱為可贖回公司債(Callable Bond)，用來規避利率變動風險的金融商品也與我們熟知的利率交換不同，稱為可取消利率交換(Cancelable Swap)。其實可取消利率交換可以拆解成百慕達利率交換選擇權(Bermudan Swaption)加上利率交換，由於利率交換之評價較簡單也有市場一致的評價方法，因此百慕達利率交換選擇權便成為評價的重點。評價的部分，由於百慕達式的商品有提前履約的特性，造成其封閉解不存在，因此需要利用其他的近似解或是數值方法來求它的價格。由於本文採用BGM(1997)的市場利率模型(Libor Market Model)，其高維度的性質導致數狀方法與有限差分法使用起來較無效率，因此本文選擇使用蒙地卡羅法做為評價的方法，同時利用Longstaff and Schwartz(2001)的最小平方蒙地卡羅法(Least Squares Monte Carlo Method)來解決提前履約的問題。最後，本文將採用2種利率波動度假設與2種不同利率間相關係數的假設，共4種組合，在歐式利率交換選擇權的市場波動度下進行校準，使用校準出來的參數進行評價來得到4種價格。再進行商品的敏感度分析(Sensitivity Analysis)和風險值(Value at Risk)的計算。可取消利率交換百慕達利率交換選擇權市場利率模型最小平方蒙地卡羅法敏感度分析風險值 Cancellable Swap Bermudan Swaption Libor Market Model Least Squares Monte Carlo Method Sensitivity Analysis Value at Risk
62	Pantomima Alfreda Jarryho / The Alfred Jarry Pantomime Plicková, Karolina January 2013 (has links) The aim of this diploma thesis is to employ a theatrological approach to the work of one of the most original and influential Czech pantomime troupes of all time, entitled Pantomima Alfreda Jarryho (the Alfred Jarry Pantomime, AJP). The company was established in 1966 in Prague by two young mime artists Boris Hybner and Ctibor Turba and existed as late as the political liquidation of the troupe in 1972 that came due to the process of the so-called normalization period in the former Czechoslovakia. The thesis consists of four major parts that are divided into several subsections. The first part deals with the historical contexts of the art of mime, both international and domestic. The AJP troupe represents the second generation of Czech pantomime that refused the style of the so-called modern pantomime expressed in the international context by Marcel Marceau and in the Czech context by Ladislav Fialka at the Theatre Na zábradlí (Theatre on the Balustrade). Since there is no monograph strictly based on this theatre, although it played a major role among the newly established small theatres in the sixties (and had an important influence on the poetics of the AJP troupe), we briefly introduce the poetics of both the pantomime company led by Fialka and the drama company led by the director Jan Grossman,...
63	銀行聯合貸款業務之經營模式與策略研究-以台灣聯貸市場為例 / The Study of Banking Business Model and Strategy about Syndicated Loan Product – in Taiwan Syndication Market 葉美華, Yeh, Mei-Hua Unknown Date (has links) 政府在1990年開放新銀行申請設立、1991年共核准通過15家新銀行籌設，國內銀行自此即進入百家爭鳴的時代，各家銀行惡性競爭的結果，除了利差不斷降低外，授信品質亦不斷惡化，各銀行資本報酬率直直落，為求生存，遂絞盡腦汁不斷推出各種新型商品以促進客戶擴大信用；聯合貸款業務亦不例外，各銀行有鑑於傳統企業授信漸不能達到應有績效之際，紛紛著重於聯貸業務，於是業務競爭日趨白熱化，如何設計符合貸款企業期望的授信方案，是各銀行贏得聯合授信主辦權的重要課題。因此，企業如何選擇聯合貸款主辦行之影響因素，是各銀行放款經理人亟盼了解的經營知識，而根據這些關鍵影響因素，各銀行為爭取主辦權所擬定的各項經營模式與策略，即是足以決定聯合貸款業務在各銀行未來之發展情形與定位，甚而決定其在聯貸市場所扮演之角色與市場佔有率。有鑑於此，本研究主要以銀行端的角色來探討各銀行針對聯合貸款業務所為之相關措施及其後續之影響結果，並針對國內主要聯貸銀行做個案分析，以了解各銀行所採取的策略及經營方針。聯貸統籌主辦參貸行銀行主辦行管理行倫敦銀行同業拆放市場承銷委任書聯合授信說明書動撥先決條件分銷代銷部份承銷簽約加碼違約事項邀請函聯貸額度截止法律意見書市場訪問交叉違約多數銀行動撥加速條款重大不利變化分離條款先付費用 syndication bookrunner paticipant bank arranger agent LIBOR underwriting mandate information memorandum conditions precedent distribution best effort partly underwritten signing margin dfault events invitation letter financial close legal opinion market sounding cross default majority banks drawdown acceleration clauses material adverse change severability front-end fees

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