| Summary: | 碩士 === 國立成功大學 === 企業管理學系碩博士班 === 90 === The collapse of the stock market will bring many negative effects to investors. As a whole, the people’s wealthy level and quality of life will decrease. For some investors, the instability of stock market will cause the loss of wealth. Moreover, it will bring about the problem of personal and household economy. Even, it will make the social issue about the increase of suicide population. So, the society needs to bear enormous cost. In order to avoid these problems, the portfolio insurance seems to become the reference for investors to allocate the capital. This study can be divided into two parts: the proof and simulation. First, it takes the Taiwan stock index in 1981-2001 to be the research instrument, in coordination with the rule about adjustment of 3% difference. To compare the “Option Based Portfolio Insurance” with the “Buy and Hold” strategy. Simultaneously, it takes the way of Mondicarlo’s simulation to analyze the influence on stock fluctuation, insurance period, floor, and rate to investors’ utility.
|
|---|
