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Study on the Value of Warrant with Variable Strike Price

FU Shi-chang(Economics and Management School, Southwest Communication University, Chengdu 610031,China)  
Under the restriction of the regulations, the domestic warrants could only be issued by big shareholders. Based on the European Option Diluting Pricing Model, the paper presented the warrant pricing model which is practical and its strike price is a continuous and flexible function over time. Its reliability was tested by a special example. We also used it to analyse the value sensitivity over risk-free interest and standard deviation of yield per year.
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