Since theoretical and applied research on prepayment base on westen countries are not applied to china , the dissertation is absorbed in chinese consumers " character , and put forward a prepayment model , by which we can get average life of pools of mortgage . further more , compared with several mbs valuation methods , the dissertation advances an approach for our own mbs valuation by improving " 12 - year average life assumption model " 在借鉴国外相关研究成果的基础上，本文从我国具体国情出发，分析了目前影响我国借款人提前还款的因素，并结合我国居民的消费行为特点，提出了我国住房抵押贷款实际清偿年限预测模型，为mbs定价打下基础。通过对国外几种mbs定价方法在实际运用所需满足条件的比较分析，本文选取第12年提前还款假设定价法作为我国mbs的基本定价方法，并对其加以改进，构建出我国mbs的定价模型。
The general existing appearance is that the chinese business ' life cycle is very brief , and the average life has only 6 . 5 ~ 7 years old . however , private enterprise ' s life is more briefer , there are about 2 . 9 years old merely . but the average life of the world 500 is living between from 40 years old to 50 years old 目前，中国企业存在的一个普遍现象就是企业的生命周期很短，平均寿命只有6 . 5 7岁，民营企业则更短，仅有2 . 9岁，而列居世界五百强的企业平均寿命大约在40岁到50岁之间。
