# 金融代写|公司金融学代写Corporate Finance代考|STOCK MARKET REPORTING

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The Wall Street Journal, the New York Times, or your own local newspaper provides useful information on a large number of stocks in several stock exchanges. Table 5.3 reproduces what has been reported on a particular day for several stocks listed on the New York Stock Exchange. In Table 5.3, you can easily find the line for General Electric (i.e., “GenElec”). Reading left to right, the first two numbers are the high and low share prices over the last 52 weeks. For example, the highest price that General Electric traded for at the end of any particular day over the last 52 weeks was $\$ 60^{50}$. This is read as 60 and the decimal .50 . The stock symbol for General Electric is GE. Its annual dividend is$\$0.55$. Most dividend-paying companies such as General Electric pay dividends on a quarterly basis. So the annual dividend is actually the last quarterly dividend of .138 multiplied by 4 (i.e., $.138 \times 4=\$ 0.55$). Some firms like GenenTech do not pay dividends. The Div column for GenenTech is blank. The “Yld” column stands for dividend yield. General Electric’s dividend yield is the current annual dividend,$\$0.55$, divided by the current closing daily price, which is $\$ 56^{63}$(you can find the closing price for this particular day in the next to last column). Note that$\$0.55 / 56^{63} \cong 1.0$ percent. The next column is labeled PE, which is the symbol for the priceearnings ratio. The price-earnings ratio is the closing price divided by the current earnings per share (based upon the latest quarterly earnings per share multiplied by 4). General Electric’s price-earnings ratio is 51 . If we were financial analysts or investment bankers, we would say General Electric “sells for 51 times earnings.” The next column is the volume of shares traded on this particular day (in hundreds). For General Electric, 18,305,100 shares traded. This was a heavy trading day for General Electric. The last columns are the High, the Low, and the Last (Close) share prices on this day. The “Net Chg” tells us that the General Electric closing price of $\$ 56^{63}$was lower than its closing price on the previous day by$1^{44}$. In other words, the price of General Electric dropped from$\$58^{07}$ to $\$ 56^{63}$, in one day. ## 金融代写|公司金融学代写Corporate Finance代考|Explanations of the Term Structure Figure 5A.1 showed one of many possible relationships between the spot rate and maturity. We now want to explore the relationship in more detail. We begin by defining a new term, the forward rate. Next, we relate this forward rate to future interest rates. Finally, we consider alternative theories of the term structure. Definition of Forward Rate Earlier in this appendix, we developed a two-year example where the spot rate over the first year is 8 percent and the spot rate over the two years is 10 percent. Here, an individual investing$\$1$ in a two-year zero-coupon bond would have $\$ 1 \times(1.10)^2$in two years. In order to pursue our discussion, it is worthwhile to rewrite${ }^{16}$$$\ 1 \times(1.10)^2=\ 1 \times 1.08 \times 1.1204$$ Equation (A.3) tells us something important about the relationship between one- and twoyear rates. When an individual invests in a two-year zero-coupon bond yielding 10 percent, his wealth at the end of two years is the same as if he received an 8-percent return over the first year and a 12.04-percent return over the second year. This hypothetical rate over the second year, 12.04 percent, is called the forward rate. Thus, we can think of an investor with a two-year zero-coupon bond as getting the one-year spot rate of 8 percent and locking in 12.04 percent over the second year. This relationship is presented in Figure 5A.2. More generally, if we are given spot rates,$r_1$and$r_2$, we can always determine the forward rate,$f_2$, such that: $$\left(1+r_2\right)^2=\left(1+r_1\right) \times\left(1+f_2\right)$$ We solve for$f_2$, yielding: $$f_2=\frac{\left(1+r_2\right)^2}{1+r_1}-1$$ ## 公司金融学代写 ## 金融代写|公司金融学代写CORPORATE FINANCE代考|STOCK MARKET REPORTING 《华尔街日报》、《纽约时报》或您当地的报纸提供了有关多家证券交易所大量股票的有用信息。表 5.3 再现了纽约证券交易所上市的几只股票在 特定日期的报告。在表 5.3 中，您可以轻松找到 General Electric 的行$i . e .$, “GenElec”. 从左到右阅读，前两个数字是过去 52 周的高价和低价。例 如，通用电气在过去 52 周内任何一天结束时的最高交易价是$\$60^{50}$. 这被读作 60 和十进制.50。通用电气的股票代码是 $G E$ 。其年度股息为 $\$ 0.55$. 大多数支付股息的公司，如通用电气，每枼度支付一次股息。所以年度股息其实就是最后一个季度的股息 0.138 乘以$4 i . e ., \$.138 \times 4=\$ 0.55 \$$. GenenTech 等一些公司不支付股息。GenenTech 的 Div 列为空白。“Yld”列代表股息收益率。通用电气的股息收益率是当前的年度股息， \ 0.55, 除以 当前每日收盘价，即 \ 56^{63} youcanfindtheclosingpriceforthisparticulardayinthenexttolastcolumn. 注意 \ 0.55 / 56^{63} \cong 1.0 百分。下一列 标有 \mathrm{PE} ，这是市盈率的符号。市盈率是收盘价除以当期每股收益baseduponthelatestquarterlyearningspersharemultipliedby4. 通用电气的 市盈率为 51 倍。如果我们是金融分析师或投资银行家，我们会说通用电气“以 51 倍的市盈率出售”。下一栏是这一天的股票交易量inhundreds. 通用电气的交易量为 18,305,100 股。对于通用电气来说，这是一个交易量大的日子。最后一列是最高价、最低价和最后一列Close这一天的股价。 ## 金融代写|公司金融学代写CORPORATE FINANCE代考|EXPLANATIONS OF THE TERM STRUCTURE 图 5A.1 显示了即期汇率和期限之间的许多可能关系之一。我们现在想更详细地探讨这种关系。我们首先定义一个新术语，即远期利率。接下来， 我们将远期利率与末来利率联系起来。最后，我们考虑期限结构的替代理论。 远期汇率的定义在本附录的前面，我们开发了一个两年期的例子，其中第一年的即期汇率为 8 \% ，两年的即期汇率为 10 \% 。在这里，个人投资 \ 1 在两年期零息债券中 \ 1 \times(1.10)^2 两年内。 为了继续我们的讨论，值得重写 { }^{16}$$
\$1 \times(1.10)^2=\$ 1 \times 1.08 \times 1.1204
$$方程 A .3 告评我们一些关于一年期和两年期利率之间关系的重要信息。当一个人投资于收益率为 10 \% 的两年期零息债券时，他在两年期末的财富 相当于他在第一年获得 8 \% 的回报，在第二年获得 12.04 \% 的回报年。第二年的假设利率为 12.04 \% ，称为远期利率。因此，我们可以认为持有两年 期零息债券的投资者获得 8 \% 的一年期即期利率，并在第二年锁定 12.04 \% 。这种关系如图 5 A .2 所示。 更一般地说，如果给定即期汇率， r_1 和 r_2 ，我们总能确定远期利率， f_2 ，这样：$$
\left(1+r_2\right)^2=\left(1+r_1\right) \times\left(1+f_2\right)
$$我们解决 f_2 ，产生:$$
f_2=\frac{\left(1+r_2\right)^2}{1+r_1}-1


## Matlab代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。