%0 Journal Article
%T The Optimal Investing Strategies of the Institution Investor under the Financial Budget<br>资金约束条件下机构投资者最优投资策略
%A WANG Zhu
%A LIU Hai-long
%A WANG Xin-rong
%A WU Chong-feng
%A <br>王　柱
%A 刘海龙
%A 王欣荣
%A 吴冲锋
%J 系统工程理论与实践
%D 2006
%I 
%X On facing the financial budget,the minimum-cost strategy of the institute investors is deduced theoretically on the hypothesis that they will invest when the market is dull,taking the interior liquid risk into account.In the model,the control variable is the volumes at which the institutes invest the stock.After taking the new market information into the strategy,the static best strategy will be extended to the dynamic strategy.The results of the Monte Carlo simulation show the dynamic strategy cost less than the static best strategy on average.
%K interior liquidation risk
%K control variable
%K financial budgets<br>内生流动性风险
%K 控制变量
%K 资金约束
%U http://www.alljournals.cn/get_abstract_url.aspx?pcid=01BA20E8BA813E1908F3698710BBFEFEE816345F465FEBA5&cid=962324E222C1AC1D&jid=1D057D9E7CAD6BEE9FA97306E08E48D3&aid=F4857EB2A41E5361&yid=37904DC365DD7266&vid=96C778EE049EE47D&iid=9CF7A0430CBB2DFD&sid=F3090AE9B60B7ED1&eid=7801E6FC5AE9020C&journal_id=1000-6788&journal_name=系统工程理论与实践&referenced_num=1&reference_num=8