On the use of the terminal-value approach in risk-value models
将终值概念引入风险价值模型，推导了在恒定增长假设下，平移不变和位置不变风险度量下终值的上下界及精确公式，并讨论了对数收益服从布朗运动时的适用性。
Abstract We extend risk-value models for valuing streams of risky cash flows by establishing the well-known concept of terminal value in this context. For a constant growth assumption we are able to derive upper and lower bounds for the terminal value in the case of a translation-invariant and in the case of a position-invariant risk measure. For both cases we also obtain an exact formula under a special growth assumption for the future cash flows. Furthermore, we provide results on the applicability of the general findings for the case that the log-return of the risky investment follows a Brownian motion.