Advertisement
6$
9
7 , ( !
V
0 & / 2 6 (
, ( !
8 1 ' ( / $ < ( '
, 1 ( ) ) ( & 7 , 9 (
6HWWLQJV IRU WKHUPDO RYHUORDG SURWHFWLRQ DGGUHVV EORFN
7KH UHOD\ LQFOXGHV D WKHUPDO RYHUORDG SURWHFWLRQ
IXQFWLRQ UHIHU WR 6HFWLRQ 7KLV FDQ RSHUDWH RQO\
ZKHQ LW LV FRQILJXUHG WR 7+(50$/ 2/
DGGUHVV GXULQJ FRQILJXUDWLRQ RI WKH GHYLFH
IXQFWLRQV UHIHU 6HFWLRQ
&DEOHV DUH SDUWLFXODUO\ HQGDQJHUHG E\ RYHUORDGV RI
ORQJHU GXUDWLRQ 7KHVH RYHUORDGV FDQQRW DQG
VKRXOG QRW EH GHWHFWHG E\ WKH VKRUWFLUFXLW SURWHF
WLRQ $ EDFNXS VWDJH RI WKH GLVWDQFH SURWHFWLRQ IRU
H[DPSOH PXVW EH VHW VXIILFLHQWO\ KLJK VR DV WR RQO\
GHWHFW VKRUWFLUFXLWV 2QO\ VKRUW GHOD\V DUH SHU
PLWWHG IRU VKRUWFLUFXLW SURWHFWLRQ 7KHVH VKRUW WLPH
GHOD\V KRZHYHU GR QRW SHUPLW PHDVXUHV WR XQORDG
WKH RYHUORDGHG FDEOH QRU WR XWLOL]H LWV OLPLWHG RYHU
ORDG FDSDFLW\
7KH SURWHFWLRQ UHOD\ 6$ LQFOXGHV DQ RYHUORDG
IXQFWLRQ ZLWK D WKHUPDO WULS FKDUDFWHULVWLF ZKLFK FDQ
EH PDWFKHG WR WKH RYHUORDG FDSDFLW\ RI WKH SUR
WHFWHG FDEOH 7KLV IXQFWLRQ LV XVXDOO\ QRW UHTXLUHG IRU
RYHUKHDG OLQHV DV WKH FXUUHQW FDUU\LQJ FDSDFLW\ RI
RYHUKHDG OLQHV LV JHQHUDOO\ QRW GHILQHG
7KH RYHUORDG SURWHFWLRQ IXQFWLRQ FDQ EH VHW WR EH LQ
RSHUDWLYH WR LQLWLDWH DODUPV RQO\ RU WR LQLWLDWH WULSSLQJ
LQFOXGLQJ DODUP DGGUHVV
7KH UDWHG FXUUHQW RI WKH FXUUHQW WUDQVIRUPHUV LV XVHG
DV WKH EDVH FXUUHQW IRU WKH RYHUORDG PHDVXUHPHQW
7KH VHWWLQJ IDFWRU N LV GHWHUPLQHG E\ WKH UDWLR RI WKH
FRQWLQXRXVO\ SHUPLVVLEOH WKHUPDO FXUUHQW ,
UDWHG FXUUHQW
,
PD[
N
,
1
'HOD\ IRU ,
6PDOOHVW VHWWLQJ YDOXH
/DUJHVW VHWWLQJ YDOXH
DQG * QR WULS ZLWK ,! HDUWK
(DUWK RYHUFXUUHQW WLPH VWDJH ZKLFK LV HIIHFWLYH GXULQJ
(
PDQXDO FORVH RI WKH FLUFXLW EUHDNHU
,(! 81'(/$<(' LH WKH ,
,1())(&7,9(
7KH SHUPLVVLEOH FRQWLQXRXV FXUUHQW GHSHQGV RQ
FURVVVHFWLRQ LQVXODWLRQ PDWHULDO W\SH RI FRQVWUXF
(;,67 XQGHU
WLRQ DQG PHWKRG RI LQVWDOODWLRQ RI WKH FDEOH HWF ,Q
JHQHUDO WKH PDJQLWXGH RI WKH FXUUHQW FDQ EH WDNHQ
IURP ZLGHO\ DYDLODEOH WDEOHV RU RWKHUZLVH LV WR EH
VWDWHG E\ WKH PDQXIDFWXUHU
7KH KHDWLQJXS WLPH FRQVWDQW U GHSHQGV RQ WKH
FDEOH GDWD DQG WKH FDEOH VXUURXQGLQJV ,I WKH WLPH
FRQVWDQW LV QRW UHDGLO\ DYDLODEOH LW FDQ EH FDOFXODWHG
IURP WKH VKRUWWHUP RYHUORDG FDSDFLW\ RI WKH FDEOH
)UHTXHQWO\ WKH V FXUUHQW LH WKH PD[LPXP SHUPLV
VLEOH FXUUHQW IRU V GXUDWLRQ LV NQRZQ RU FDQ EH WDN
HQ IURP WDEOHV 7KH WLPH FRQVWDQW FDQ WKHQ EH FDOFX
ODWHG DFFRUGLQJ WR WKH IROORZLQJ IRUPXOD
6HWWLQJ YDOXH U >PLQ@
,I WKH VKRUWWLPH RYHUORDG FDSDFLW\ LV VWDWHG IRU D GX
UDWLRQ RWKHU WKDQ V WKHQ WKDW VKRUWWHUP FXUUHQW LV
LQVHUWHG LQWR WKH DERYH IRUPXOD LQVWHDG RI WKH V FXU
UHQW +RZHYHU WKH UHVXOW LV WKHQ PXOWLSOLHG ZLWK WKH
VWDWHG GXUDWLRQ LH LQ FDVH RI DQ V FXUUHQW
WR WKH
,W VKRXOG EH QRWHG WKDW WKH UHVXOW EHFRPHV PRUH LQ
PD[
DFFXUDWH WKH ORQJHU WKH VWDWHG GXUDWLRQ RI WKH FXU
UHQW EHFRPHV
2SHUDWLQJ LQVWUXFWLRQV
! HDUWK FXUUHQW
(
V
V
!VWDJH EXW ZLWKRXW
(
GHOD\
HDUWK FXUUHQW VWDJH RSHUDWHV DV
SDUDPHWHUL]HG HYHQ GXULQJ
PDQXDO FORVXUH
Æ
SHUPLVVLEOH V FXUUHQW
ô
FRQWLQXRXVO\ SHUPLVVLEOH FXUUHQW
Æ
SHUPLVVLEOH V FXUUHQW
ô
FRQWLQXRXVO\ SHUPLVVLEOH FXUUHQW
É
É
&*&
Advertisement
