| After the research and analysis of the commercial bank wealth investmentproducts, we could find currently the RMB asset pool wealth investmentproducts are the mainstream of the market. And after the study of recent years’papers, we find major pricing analysis of the commercial bank wealthinvestment products focus on the structural commercial bank wealthinvestment products. And few people did the pricing analysis on RMB assetpool. And this paper is the first one to do the pricing analysis focus on RMBasset pool wealth investment products.The paper treats capital asset pricing model (CAPM) as theoretical baseand shares the same view that the expected return of wealth investmentproducts has close relationship with risk-free rate and its risk premium. Basedon the data analysis of wealth investment products issued by top20largestcommercial banks during2009to2013, regression analysis and F-tests areused to determine the relationship among wealth investment productsinvestment period, Shibor, investment assets categories, the issue of bank and the return of wealth investment products. And we calculate the regressionequation and define the relationship among wealth investment productsexpected return, wealth investment products investment period, Shibor,investment assets categories and the issue of bank. The regression equationcould prove whether the wealth investment products’ prices are reasonable.In addition, this article also discusses the risks facing commercial banks’wealth investment products and the possible measures to control the risk. |
