| The publishment of "The reform scheme of the principal of central management enterprise" will induce an essential reform on the current stable compensation system, especially for finance, electric power and oil industries. Therefore, it is necessary to optimize the current compensation system. On such occasion the author propose a more reasonable compensation pricing model with mathematical analysis characteristics timely.The research on the compensation system of sponsors, who is a group in the spire of the financial pyramid though the new policies proposed this year weaken their position, is a typical paradigm. First of all, the sponsors’ responsibilities and rewards and punishment system are not clear enough. Second, whether "the contribution matches the pay" has been criticized by people for a long time, but it’s hard for sponsor institution to reduce the salary forcibly. Therefore, it has significant realistic meaning to clear the sponsors’responsibilies and risk and seek for a appropriate method to measure the compensation salary.In this thesis, a new risk compensation pricing model is proposed based on the viewpoint that the sponsors should undertake part of the risk of program.First, the risk analysis of sponsors is performed systematacially. Since the definition of the responsibility of sponsors isn’t very clear, we combine the WBS method and risk identification of sponsors and obtain a unequivocal results about risk identification. Moreover, a operable method of risk measurement is given by multidimensional risk measurement and risk index modeling.Second, stochastic optimal control theory and optimal stocks distribution theory are applied in the risk compensation pricing. Explicit solution of optimal risk compensation is obtained through HJB equation and contribution factor.Finally an example is presented and the results agree well with the actual compensation of sponsors, which means risk compensation pricing model can provide a feasible theory for the reality. |
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