Investment Research On The Equity-linked Structure Bank Financial Management Product

Structured products market is an important component of international financial derivatives market.Structured product is a complex financial product that combines the features of both fixed income securities and derivatives. Structured products have become the most rapidly growing area in management business of commercial bank in our country since 2003.However, due to zero returns and negative returns when product ends, structured product also make a lot of controversy. So the research of the structured product features and pricing have very important theoretical significance and practical significance.In this paper, we introduce equity-linked structure bank financial management product as the research object, which is based on the linked stocks, stock portfolio or a stock index.Part I is an introduction, include research background and significance, research idea and methods, and paper structure.Part II recall structure product research at home and aboard. Foreign scholars study equity-linked product through decomposition of the product. In addition, foreign scholars found that the structure products have a certain premium. The Chinese scholars have started to study structure product in recent years.Part III described related theories of equity-linked structure products, Include product classification, product features, product function, and risk.Part IV described the return characteristics and pricing methods of structure products. Include ten product factors, return structure, pricing theory.Part V study all "TongSheng" equity-linked structure products which linked to A shares and H share by case studies and empirical research. Through empirical research, we find "TongSheng" equity-linked structure products have a premium. At last we gives relevant recommendation.Part VI is an overview of entire papers.