Study On The Factors Affecting The Pricing Of Securities Trust Products

With the continuous development of Chinese financial industry and the improvement of the trust industry laws and regulations,trust industry scale has been as high as 18 trillion by the end of 2016 as a trustee to become second to the banking financial pillar industry,whith limited trading thre prishold determines the trust products market in is limited,it is difficult to form a reasonablecing,part of the trust company can only by raising the expected yields to attract customers,leading to frequent event of default happen In recent years.So stuay the formation mechanism of securities trust product yield and the influence factors is imminent.This article selected heats up securities trust products in recent years as the research object,the first combination of macro environment,industry factors,the nature of securities trust products.Then select the 12 indicators as explanatory variables of securities trust expected rate of return products,respectively are GDP,treasury rates of a year,the M2,CPI,interest rates on deposits and loan,the Shanghai composite index,financial product rate,area,the investment target,the issuing scale,investment term,and establish the model according to the above variables to verify the correctness of the theoretical analysis,this paper selected the 2007-2016 securities trust product related data to carry on the empirical analysis,first,we have carried on the descriptive statistical analysis to get related instructions and explain the correlation size of the explanated variables and explanatory variables.Finally by using the method of step by step to build model and variance analysis,explore the explanatory variables impact on securities trust products expected return and improve the model.In this paper,the conclusion is as follows:expected rate of return of securities trust product and GDP,year-on-year CPI,one year interest rates,loan interest rate,the benchmark Shanghai composite index,interest rate,financial products,product size,issuing period are positive relative with expected return,however M2 growth rate is negative with expected return.Finally based on the analysis result,we summarize the full text and give trust companies and investors some advice.