查詢結果分析
相關文獻
- Asian Monetary Integration: A Real Option Perspective
- 資本投資計畫評核術的新觀念--實質選擇權之理論與實證方法的文獻回顧
- 臺商赴大陸投資實質選擇權之實證研究--以階層線性模式分析
- 投資計畫評估--選擇權評價理論之應用
- 歐元已上路,「亞元」何時跟進﹖--亞洲貨幣整合面面觀
- 同時考慮R&D與市場需求不確定下之高科技產業投資方案評估分析
- BOT放棄價值的評估--以臺灣高速鐵路為例
- 穀物市場不確定因素估測及其對時間價差影響之分析
- A CSI-Based Approach to Developing Project Financial Strategies for Science-Based Industrial Parks: the Case of TSIP in Taiwan
- 創業投資公司投資案價值的評估--採用多重實質選擇權評價方法
頁籤選單縮合
題 名 | Asian Monetary Integration: A Real Option Perspective=亞洲貨幣整合:實質選擇權觀點 |
---|---|
作 者 | 鄭宗松; 梁恕; 姜一銘; 陳澤嘉; | 書刊名 | 證券市場發展季刊 |
卷 期 | 26:3=103 2014.09[民103.09] |
頁 次 | 頁173-201 |
分類號 | 561.18 |
關鍵詞 | 亞洲貨幣整合; 實質選擇權; 遞延選擇權; Asian monetary integration; Real options approach; Deferred options; |
語 文 | 英文(English) |
中文摘要 | 傳統觀點認為貨幣整合得以預防金融危機,特別在1997年亞洲金融風暴之後。然而,此觀點在2008年全球金融海嘯以及後續的歐債危機爆發後倍受挑戰。因此,本文重新檢視貨幣整合運用於亞洲經濟體的議題。在考量效益不確定性及決策之不可逆性條件下,本文採用彈性的實質選擇權模型以衡量貨幣整合之可行性。透過模型模擬之結果顯示,印尼、菲律賓及紐西蘭為有意加入潛在貨幣聯盟之經濟體。儘管,潛在貨幣聯盟中有部分成員表達參與意願,然而在多數潛在貨幣聯盟成員認為建立貨幣聯盟的條件仍未滿足下,成立亞洲貨幣聯盟時點仍未成熟。 |
英文摘要 | Traditional wisdom suggests that monetary integration can prevent a financial crisis, particularly in the aftermath of the 1997 financial crisis in Asia. However, this idea was challenged during the 2008 financial crisis. This paper reexamines the topic of monetary integration in the Asia Pacific. To consider benefit uncertainty and decision-making irreversibility, this study adopts the flexible Real Options Approach (ROA) method to capture these features and the possibility for monetary integration. The model calibration results show that Indonesia, the Philippines, and New Zealand are the three economies that would exercise the option to join the monetary union. Even if some economies are willing to set up a monetary union, for most of the economies in the potential unions, the conditions of building up monetary unions are still unsatisfied now or in the near future. Hence, the timing of building the Asian monetary union is yet mature. |
本系統中英文摘要資訊取自各篇刊載內容。