نموذجي بلاك شولز و بنوميال لتسعير الخيارات المالية و دورهما في اتخاذ القرار الاستثماري –: دراسة حالة بنك مجموعة أستراليا و نيوزيلندا المصرفية للفترة 2018

Abstract EN

ِA fundamental problem arises when it comes to derivatives which is determining their value, which makes it difficult to make an investment decision, which leads to the need for investors to use some prediction models to determine it.

This paper using descriptive and analytical method provides a framework for pricing financial options using two models in discrete time and continuous time, namely Black scholes and Binomial based on the same theoretical foundations and assumptions (such as the geometric Brownian movement theory of stock price behavior and neutral risk assessment), And among the results reached is that the Binomial model is more effective in making effective investment decisions, as it allows verification of the value of the asset at every stage of the life of the option for the possibility of early exercise because it divides the expiry time Validity to a very large number of intervals or steps