企業金融のアドバンス校正サンプル

 

本研究では、価格がレジームスイッチング幾何学ブラウン運動を示す無配当株式について調べる。株式の現在の価格を考えると、販売原理は目標価格とストップロス限度額で構成されている。「売り」の決定は、価格が目標価格または設定されたストップロス限度額に達したときに行われる。主な目的は、投資家に利益をもたらすことである。彼らの金融キャリアの間、投資家はしばしば低調な株式を選んでしまうか、または誤った時期に購入を行ってしまう。したがって損失を阻止するためには、できるだけ早くそのような株式を売る必要がある。実際には、目標価格は通常 15% ~ 55% の利得であり、ストップロスの上限は一般に 5% から 20% まで変化する。ただし、各株式の特性が異なるため、予約利益と損失の統一ルールを採用することは奨励されない。さらに各株式は、異なる清算ルールで別々に扱われるべきである。

我々は、目標価格とストップロスの限度額を考慮し、期待される報酬機能を強化することを約束するものを決定する。我々は、これらの価格制限を導出することを目指している。さらに期待される目標期間と、金銭の獲得と損失の確率を決定する。実際には、ポートフォリオのパフォーマンスを測定するために頻繁に使用される基準は、指定された時間における割合のリターンである。しかしこのような基準は、短期保有期間(τ0)で小さな利益を得ることを奨励している。明らかにそのような基準は、個人投資家、特に取引や追加の取引コストを絶えず監視できない者には適さない。対照的に、割引係数は保持期間の決定要因として時間に置き換えられるため、取引の頻度を減らす。割引報酬機能は、多くの財政問題において一般的である。

In current study wehave single stock whose price observe a switching geometric Brownian motion. Also, the stockpay no dividends. Given the current price of a stock the sold axiom consists of target price and a stoploss limit. A ‘sell’ decision is made when the price reach either the target price or the set stop-loss limit. The main purpose is to benefit investors. One often pick up the bad stock or the purchase made is at the wrong time in reality. So, it is necessary to sel it as soon as possible to stop loss. In practice, a target price, is typicaly around a gain of 15 % – 5 5 % and a stoploss limit generally vary from 5 % to 20 % . It is, however, not a good idea to adopt uniform profit taking. Each stock different, has it’s own characterstics. Moreocer, it should be treated differently with different liquidation rule .

In this study, we consider set of targetprices and stop-loss limits and choose a target price and stop-loss Limit in that set to enhance an expected reward function . We aim, at deriving this price limits… In addition, we get the expected target period and the probability of making and losing money. In practice, a frequent used critera for measuring the performance of portfolio is the percentage return pr unit time. However such a criterion has lead to many transactions because of it encourages small profit-taking within the short holding time τ0 . Clearly, such a criterion is not-suitable to retail investor because of the limited time available for trading and Additional transaction costs. A discount factor, in contrast rules out very frequent transctions because the time factor is replaced by discount rate. This a discounted-reward function is natural in many financial problems

In current study wehave single stock whose price observe a switching geometric Brownian motion. Also, the stockpay no dividends1 . Given the current price of a stock the sold axiom consists of target price and a stoploss limit. A 'sell' decision is made when the price reach either the target price or the set stop-loss limit. The main purpose is to benefit investors. 2 OneDuring their financial careers, investors often pick up the bada weak stock or the purchase made isit at the wrong time in reality. So. In both the cases, it is often wise and necessary to sel it sell such a stock as soon as possible to stop loss.curtail losses. In practice, a target price, is typicaly prices are typically around a gain of 15 % % 3 5 5 55% and a stoploss limit stop-loss limits generally vary from 5 % to 20 % . It%. However, it is, however, not a good idea to adopt uniform profit taking. Eachrules for booking profits and losses because each stock different, has it'sits own characterstics. Moreocer, it should be treated differently withcharacteristics that call for different liquidation rule rules.4 

In this study, we consider set of targetprices and stop-loss limits and choose a target price and stop-loss Limit in that set to enhance an expected reward function . We aim, at deriving this price limits. In addition, we get the expected target period and the probability of making and losing money. 5 In practice, a frequent used critera for measuring the investors frequently measure portfolio performance of portfolio is theas percentage return pr unitover a given time. However such a, that criterion has lead to many transactions because of it encourages taking small profit-taking within the shortprofits in a brief holding time period (τ0 . Clearly, such a criterion is not-suitable to retail investor because of the limited time available for trading and Additional) and increases transaction costs. A For those reasons and others6 , it may be unsuitable for retail investors, especially those who cannot constantly monitor their portfolios. In contrast7 , a discount factor, in contrast rules out very frequent transctions reduces the frequency and cost of transactions because theit replaces time factor is replaced by discount rate. Thisas a determinant of holding period. The discounted-reward function is natural incommonly applied to many financial problems.

This study examines a no-dividend stock with prices that exhibit regime-switching geometric Brownian motion. We consider sets of stop-loss limits and target prices and determine those that promise to enhance an expected reward function. We aim to derive these limits as well as an expected holding period and probabilities of making and losing money.

  1. In academic writing, it is important that the objective is mentioned after the supporting information/background of the study. Hence, this part has been moved to a later instance.
  2. A research paper should not contain any extra/unnecessary information as it does not significantly contribute to the presentation of an author�s idea. Hence, this information has been deleted.
  3. No spaces are added before and after an en dash in a range.
  4. These two sentences have been merged as the second sentence provided supporting information for the first sentence.
  5. A substantive edit ensures that the text of a manuscript is structurally accurate and every information is placed at the correct instance. Hence, this part has been moved to a later instance.
  6. Emphasizing the correct information is necessary to clearly convey the intended meaning. We have revised this instance to clearly mention why the criterion is unsuitable for retail investors.
  7. Transitional phrases that are necessary to denote the shift in the tone of sentences should be mentioned in the beginning of sentences to ensure clarity among readers.

During their financial careers, investors often pick up a weak stock or purchase it at the wrong time. In both the cases, it is often wise and necessary to sell such a stock as soon as possible to curtail losses. In practice, target prices are typically around a gain of 15%–55% and stop-loss limits generally vary from 5% to 20%. However, it is not a good idea to adopt uniform rules for booking profits and losses because each stock has its own characteristics that call for different liquidation rules.

In practice, investors frequently measure portfolio performance as percentage return over a given time. However, that criterion encourages taking small profits in a brief holding period (τ0) and increases transaction costs. For those reasons and others, it may be unsuitable for retail investors, especially those who cannot constantly monitor their portfolios. In contrast, a discount factor reduces the frequency and cost of transactions because it replaces time as a determinant of holding period. The discounted-reward function is commonly applied to many financial problems.

This study examines a no-dividend stock with prices that exhibit regime-switching geometric Brownian motion. We consider sets of stop-loss limits and target prices and determine those that promise to enhance an expected reward function. We aim to derive these limits as well as an expected holding period and probabilities of making and losing money.

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