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Fourth, the normative guidance on the suspension of the Fund's stock valuation information disclosure requirements, including fund management companies to use valuation techniques and other methods of suspension Stock valuation should notice an ad hoc basis, on a regular basis in the report, should also be involved in the valuation model assumptions, parameters, the net asset value of the Fund and the impact of current profit and loss; the relevant parties involved in the valuation process and the staff of the division of responsibilities , Professional competence and a description of work experience; fund managers to participate in the decision or the level of valuation; valuation process between the parties involved in any major conflict of interest, such as disclosure

第四，规范指导，基金的股票估值的信息披露要求暂停，包括基金管理公司运用估值技术和其他方法停牌股票估值应该看到一名在定期报告特设的基础上，还应该在估价模型假设，参数涉及基金的净资产值和当期损益的影响，所涉及的有关各方估值过程和职责，专业能力和工作经验的描述司工作人员，基金经理参与或决定估值水平之间的任何重大的利益冲突，如有关各方估价程序披露

Fourth, the "guidance" to the norms of the Fund to suspend stock valuation information disclosure requirements, including fund management companies to use valuation techniques and other methods of valuation for the stock suspension should be carried out Notice the interim, on a regular basis in the report, should also be involved in the valuation model assumptions, parameters, the net asset value of the Fund and the impact of current profit and loss; the relevant parties involved in the valuation process and the staff of the division of responsibility, professional competence and relevant work experience Description; fund managers to participate in the decision or the level of valuation; valuation process between the parties involved in any major conflict of interest disclosure and so on.

第四，"指导"，以基金的规范暂停股票估值的信息披露要求，包括基金管理公司利用股票停牌评估技术和其他估值方法，应进行临时公告就在定期报告中，也应参与评估模型假设，参数，该基金的净资产值和当期损益的影响，有关各方在评估过程中涉及的工作人员分工负责，专业能力和相关工作经验的说明；基金经理参与或决定估值水平之间的任何利益披露等重大冲突各方的估值过程。

He said that the business department with its customers to exchange the results showed that, although this year to bear a greater loss, but they are still actively seeking opportunities to rebound, with the result of the exchange fund clients showed that some Consensus has been formed, the current stock price adjustment should be able to fully reflect the risks (for example, a negative growth in 2009 profits) as long as there is no hard landing for the economy, a growing number of stocks have begun to show the value of the investment, on the other hand, the economy and earnings are still In a clear downward trend, investment strategy on economic policies still need to wait for the stock market and policy signals the emergence of two major turning point, the majority of investors in 2400 have not yet reflect the sharp point of the will of the holdings; However, if the market continued to fall, the brave will not hesitate On the left side of the transaction provide us with the risk.

他说，与客户业务部门交流的结果显示，虽然今年承受更大的损失，但他们仍在积极寻求与外汇基金的客户端显示的结果反弹的机会，一些共识已经形成，目前的股价调整应能充分反映风险（例如，在2009年利润负增长），只要没有经济方面，越来越多的股票已经开始硬着陆显示另一方面的投资价值，经济和收入仍处于明显的下降趋势，对经济政策的投资策略仍然需要等待股市和政策信号的两个重要转折点，出现了大多数投资者在2400年还没有反映的控股公司将尖，但是，如果市场继续下跌，勇敢不会在交易左侧毫不犹豫地提供了我们的风险。

I observ'd, that the two who swam, were yet more than twice as long swimming over the Creek, as the Fellow was, that fled from them: It came now very warmly upon my Thoughts, and indeed irresistibly, that now was my Time to get me a Servant, and perhaps a Companion, or Assistant; and that I was call'd plainly by Providence to save this poor Creature's Life; I immediately run down the Ladders with all possible Expedition, fetches my two Guns, for they were both but at the Foot of the Ladders, as I observ'd above; and getting up again, with the same haste, to the Top of the Hill, I cross'd toward the Sea; and having a very short Cut, and all down Hill, clapp'd my self in the way, between the Pursuers, and the Pursu'd; hallowing aloud to him that fled, who looking back, was at first perhaps as much frighted at me, as at them; but I beckon'd with my Hand to him, to come back; and in the mean time, I slowly advanc'd towards the two that follow'd; then rushing at once upon the foremost, I knock'd him down with the Stock of my Piece I was loath to fire, because 1 would not have the rest hear; though at that distance, it would not have been easily heard, and being out of Sight of the Smoke too, they wou'd not have easily known what to make of it: Having knock'd this Fellow down, the other who pursu'd with him stopp'd, as if he had been frighted; and I advanc'd a-pace towards him; but as I came nearer, I perceiv'd presently, he had a Bow and Arrow, and was fitting it to shoot at me; so I was then necessitated to shoot at him first, which I did, and kill'd him at the first Shoot; the poor Savage who fled, but had stopp'd; though he saw both his Enemies fallen, and kill'd, as he thought; yet was so frighted with the Fire, and Noise of my Piece, that he stood Stock still, and neither came forward or went backward, tho' he seem'd rather enclin'd to fly still, than to come on; I hollow'd again to him, and made Signs to come forward, which he easily understood, and came a little way, then stopp'd again, and then a little further, and stopp'd again, and I cou'd then perceive that he stood trembling, as if he had been taken Prisoner, and had just been to be kill'd, as his two Enemies were; I beckon'd him again to come to me, and gave him all the Signs of Encouragement that I could think of, and he came nearer and nearer, kneeling down every Ten or Twelve steps in token of acknowledgement for my saving his Life: I smil'd at him, and look'd pleasantly, and beckon'd to him to come still nearer; at length he came close to me, and then he kneel'd down again, kiss'd the Ground, and laid his Head upon the Ground, and taking me by the Foot, set my Foot upon his Head; this it seems was in token of swearing to be my Slave for ever; I took him up, and made much of him, and encourag'd him all I could.

这时候，我脑子里突然产生一个强烈的、不可抗拒的欲望：我要找个仆人，现在正是时候；说不定我还能找到一个侣伴，一个帮手哩。这明明是上天召唤我救救这个可怜虫的命呢！我立即跑下梯子，拿起我的两支枪--前面我已提到，这两支枪就放在梯子脚下。然后，又迅速爬上梯子，翻过山顶，向海边跑去。我抄了一条近路，跑下山去，插身在追踪者和逃跑者之间。我向那逃跑的野人大声呼唤。他回头望了望，起初仿佛对我也很害怕，其程度不亚于害怕追赶他的野人。但我用手势召唤他过来，同时慢慢向后面追上来的两个野人迎上去。等他俩走近时，我一下子冲到前面的一个野人跟前，用枪杆子把他打倒在地。我不想开枪，怕枪声让其余的野人听见。其实距离这么远，枪声是很难听到的；即使隐隐约约听到了，他们也看不见硝烟，所以肯定会弄不清是怎么回事。第一个野人被我打倒之后，同他一起追来的那个野人就停住了脚步，仿佛吓住了。于是我又急步向他迎上去。当我快走近他时，见他手里拿起弓箭，准备拉弓向我放箭。我不得不先向他开枪，一枪就把他打死了。那逃跑的野人这时也停住了脚步。这可怜的家伙虽然亲眼见到他的两个敌人都已经倒下，并且在他看来已必死无疑，但却给我的枪声和火光吓坏了。他站在那里，呆若木鸡，既不进也不退，看样子他很想逃跑而不敢走近我。我向他大声招呼，做手势叫他过来。他明白了我的意思，向前走几步停停，又走几步又停停。这时，我看到他站在那里，混身发抖。他以为自己成了我的俘虏，也将像他的两个敌人那样被杀死。我又向他招招手，叫他靠近我，并做出种种手势叫他不要害怕。他这才慢慢向前走，每走一二十步便跪一下，好像是感谢我救了他的命。我向他微笑，作出和蔼可亲的样子，并一再用手招呼他，叫他再靠近一点。最后，他走到我跟前，再次跪下，吻着地面，又把头贴在地上，把我的一只脚放到他的头上，好像在宣誓愿终身做我的奴隶。我把他扶起来，对他十分和气，并千方百计叫他不要害怕。但事情还没有完。

There are totally five chapters in the paper. Chapter 1 is the introduc-tion,and extreme value theory and methods and modelling for returns fat tails are introduced systematically in Chapter 2.This chapter also presents mean excess function and de Haan's moment estimate to decide on the reasonable exceedance threshold. Chapter 3 describes in detail non-linear time series mod-els such as GARCH models and the corresponding statistical inferences,and it also gives modelling and statistical analysis methods for returns series. Chap-ter 4 uses the models in Chapter 2 to analyzes the daily returns for Shanghai complex index and Shenzhen complex index in the Shanghai and Shenzhen stock markets. Chapter 5 applies the models in Chapter 3 to the volatility analysis of the two stock indices returns.

论文总共五章：第一章是引言部分；第二章系统介绍了极值理论方法和收益率厚尾的建模方法，给出了平均剩余函数法和de Haan矩估计相结合的方法确定合理的超越门限；第三章详细论述了非线性时间序列模型GARCH类模型及其统计推断，并且给出了收益率时间序列波动的建模和统计分析方法；第四章利用第二章的模型对国内沪深两市大盘指数上证综指和深证综指日收益率数据分布的厚尾进行了实证分析；第五章将第三章的模型应用到两个股指日收益率时间序列的波动分析。

Certainly have not suffered loss, Li is a former British Hong Kong government is one of Li Ka-shing is indeed business Wizards, in the case of real estate are constantly rising had considered restructuring and the transfer of assets, has bought some foreign quality assets, telecommunications companies such as Germany orange shares, the New Jersey ports, the Panama Canal shares, and Hong Kong Cyberport aggressively into the building, will tentacles stretching the transformation and upgrading of telecommunications, Li Ka-shing is the only person in his fox, and many people are of the view that is Li and the former British Hong Kong government to give them weaving a better future, a beautiful dream, and Tung took office play his body more healthy, more destructive power of the strong characteristics of this beautiful dream hit a smash, this is one is caught, the onlookers-to the real estate collapse of the responsibility of all to Mr Tung who is totally unjustified, Although Mr Tung to the mainland, Beijing has followed some acts are in the eyes of some people, but to objectively evaluate, Dong is a honest kind of person, he is inadvertently let Tianzao point that the arrival and the day is certainly coming, the night time, the more devastating losses, Originally, the intention is that Mr Tung real estate prices trend eased, and then the case now almost Shanghai, prices every quarter on a 20% increase, almost all Hong Kong people have been crazy, and just opened a new development, the stage has long been ranked team to effectively alleviate this situation, the new SAR government changed in the past starvation effect of land supply policy, a substantial increase in the level of land supply in order to stabilize high land prices, while the Yuen Long, New Territories into the new City of mass construction, the expansion of public housing, housing construction plan (equivalent to our low-cost housing, economic applicable housing), if no major accident These measures should ensure that real estate to landing, but nobody thought that 98 years of financial turmoil, Hong Kong dollar devaluation Suoluosiming gambling, but the call foul silent do real estate, stock market doing transactions, the use diversionary tactics tactical let him return home with a full load, although the SAR government have been successfully defend the Hong Kong dollar does not depreciate, but the housing market and stock market watch.

当然也有没受损失的，李嘉诚算一个，前港英政府也算一个，李嘉诚不愧是商界奇才，在房地产不断攀高的情况下就已经考虑资产的转型和转移了，先后购买了一些外国的优质资产，如德国橙电信公司的股份、新泽西的港口、巴拿马运河的股份，并大张旗鼓地投入香港数码港的建设，将触角伸进香港电信的升级改造，李嘉诚做人方面堪称是只老狐狸，很多香港人都认为，是李嘉诚和前港英政府给他们编织一个美好的前程、一个美丽的梦，而小董上台后发挥他那身体越健壮、破坏力越强的特点，将这一美丽的梦击个粉碎，这正可谓是当局者迷、旁观者清，将香港房地产崩溃的责任全部归咎于董建华身上，是完全没有道理的，虽然董建华在靠近大陆、追随北京方面有些行为在港人眼里是过了一些，但客观地评价，董是一个老实厚道的人，他只不过是无意中让那一天早一点到来，而那一天是肯定会到来的，时间越晚，损失越惨重，本来董建华的初衷是希望房地产上涨的趋势有所缓解，当时香港的情形与现在的上海差不多，房价每隔一个季度就上涨20%以上，几乎所有的港人都为之疯狂，新楼盘刚开张，台前早已排起长长的队伍，为有效地缓解这一局面，新上任的特区政府一改以往饥渴效应的土地供应政策，大幅度地增加一级土地的供应，以平抑高昂的地价，同时宣布元朗、新界等新城区进入大规模建设，扩大政府公屋、居屋营建计划（相当于我们的廉租房、经济适用住房），如果没有大的意外，这些措施应该能保证房地产的缓着陆，但谁也没想到，98年的金融风暴，索罗斯明赌港币贬值、暗里却大做不动产、股市空头交易，这一声东击西的战术让他满载而归，虽然特区政府成功地实现了捍卫港币不贬值的目标，但香港的房市、股市从那一刻起，一败涂地。

Sales To achieve agreed monthly sales and average transaction value targets for area of responsibility To communicate sales targets and achievement against targets to the sales team on a daily basis To be proactive in identifying selling opportunities and putting in place initiatives that will help achieve and exceed the sales targets Product Knowledge To be able to provide the customer with product information that will enable them to make an informed decision about the item they wish to purchase To be able to communicate confidently the unique selling points and the features and benefits of the product To actively use this product knowledge to provide mix and match ideas for the customer and to up-sell to maximize the sales value Team Leadership To demonstrate and reinforce the Lane Crawford Vision And Values at all times and provide the necessary leadership to gain commitment from retail sales team To identify and execute ways to increase employee's loyalty, satisfaction and pride with the Lane Crawford experience To provide on job training to new hires to ensure they meet the required standards in all aspects of their job within the 3 month probation period To provide on job coaching to ensure that sales associates are able to consistently deliver and exceed the Lane Crawford service standards To train sales associates in product knowledge and mix and match To monitor and review performance of team with the DSM, identifying individuals who are ready for promotion or require performance improvement plans Manage performance of team on a daily basis and take appropriate action with those who fall below standard (in consultation with DSM/HR Department) Housekeeping To ensure daily housekeeping standards are maintained at all times through effective staff scheduling To maintain visual merchandise presentation in line with VM Standards Manual To prevent stock and pilferage by being alert and informing manager/security of potential issues To ensure cashiering function is performed to a high degree of accuracy To ensure stock is continually replenished to ensure a full range of items are available for the customer

顾客服务提供一致、友善和尽责的服务，确保连卡佛的服务标准在任何时间均得到贯彻执行在整个服务过程中积极主动，并提供独特服务，抓住每次机会，为顾客提供超越预期的购物体验向顾客和员工展现了解最新潮流与时尚的热切希望，并积极交流确保每次销售都有售后服务活动跟进，如预定、礼品包装、发送和投递、看管服务确保在零售区域随时有足够的人手提供预期标准的服务，随时提升日常业务水平收集顾客反馈信息并与经理/其他合适人员分享高效并有礼貌地处理和解决顾客投诉，令顾客满意销售达到责任区域内既定的月度销售额和平均交易值目标就销售目标和完成情况和销售团队进行日常沟通积极发现机会并主动创造，帮助达到和超越销售目标产品知识为顾客提供产品信息，使他们在充分了结的基础上对欲购商品做出购买决定能自信地表述产品的独特卖点、特征和优点积极利用产品知识，为顾客提供搭配意见，提升销售业绩，使销售额最大化团队领导随时展示并强调连卡佛理念和价值，展现必要的领导能力，以赢得零售团队的信任发现和执行能提高员工忠诚度、满意度和连卡佛体验自豪感的方法对新进员工的培训进行监督，确保其在3个月的试用期内在各方面均达到工作要求提供工作指导，确保销售助理能一贯执行并超越连卡佛服务标准对销售协理进行产品知识和搭配的培训与DSM一起监督和检查团队的业绩，确定哪些人适合提升，哪些人需要订立业绩改进计划对团队的工作进行日常管理，并对落后员工采取适当的措施内务处理通过有效的员工工作编排，时刻维护日常内务处理标准确保形象商品的展示符合VM标准手册要求保持警惕，就潜在问题通知经理/保安，防止积压和盗窃的发生确保收银职能的精确履行确保货源的持续补充，可随时向顾客提供全系列产品

Mechanization transit more and more extensive get application, have become in recent years develop the most quick profession one in mechanize transport field in, chain transport can realize vertical, level, incline , bend and make up mutually various transport locus, can again meet bulk, take pack wait for the stock of various types carry ; can satisfy operation steady, transport at low speed may control with metre automation production the late requirement of operating mode, again can in bad environment in reliable work, chain conveyer is performance good continuous conveyer, it need not stop in same one side to transportation stock, load and unload need not stop machine, have very high productivity.

摘要机械化运送越来越广泛的得到应用，近年来已成为发展最迅速的行业之一在机械化输送的领域里，链条输送既能实现垂直，水平，倾斜，弯曲及相互组合的各种输送轨迹，又能适应散装，带装等各种类型的物料搬运；既能满足运行平稳，低速输送和节拍可控的自动化生产先的工况要求，又能在恶劣的环境里可靠的工作，链条输送机作为性能良好的连续输送机，它可以不停的在同一方向运输物料，装卸无须停机，具有很高的生产率。

This part Measures firms" size with market value of float shares, and divides each portfolio into quintiles and deciles to choose an appropriate grouping method. The second part divides the sample into two sub-samples to tests the different performance of "small firm effect" in two periods. The third part tests different performance of each month. The fourth part studies the "small firm effect" in five industries, the industry, the commerce, the public utilities, conglomerates and the properties, and uses Fame-Macbeth method to research "the small firm effect" in the different industries. The fifth part analyzes the reason why the "small firm effect" exists in China stock market referring to the western explanation about "the small firm effect and the character of China stock market. In the end, we provide some suggestion.

论文运用实证方法检验中国股市&小公司效应&的存在性，用流通股市值作为公司规模大小的度量，用五分组和十分组两种分组方法检验中国股市&小公司效应&的表现；把整个样本区间以2001年为界分为两个样本子区间，检验&小公司效应&在不同时间阶段的表现有何不同；分月检验&小公司效应&在不同月份的表现；把样本中所有上市公司按照行业分为五大类，工业类、商业类、公用事业类、房地产类和综合类，利用Fama-MacBeth法检验中国股市&小公司效应&在不同行业的表现；联系国外关于&小公司效应&存在原因的解释，结合中国股市的实际，分析中国股市&小公司效应&存在的原因，并提出了一些建议。

I have been in all my Circumstances a Memento to those who are touch'd with the general Plague of Mankind, whence, for ought I know, one half of their Miseries flow; I mean, that of not being satisfy'd with the Station wherein God and Nature has plac'd them; for not to look back upon my primitive Condition, and the excellent Advice of my Father, the Opposition to which, was, as I may call it, my ORIGINAL SIN; my subsequent Mistakes of the same kind had been the Means of my coming into this miserable Condition; for had that Providence, which so happily had seated me at the Brasils, as a Planter, bless'd me with confin'd Desires, and I could have been contented to have gone on gradually, I might have been by this Time; I mean, in the Time of my being in this Island, one of the most considerable Planters in the Brasils, nay, I am perswaded, that by the Improvements I had made, in that little Time I liv'd there, and the Encrease I should probably have made, if I had stay'd, I might have been worth an hundred thousand Moydors; and what Business had I to leave a settled Fortune, a well stock'd Plantation, improving and encreasing, to turn Supra-Cargo to Guinea, to fetch Negroes; when Patience and Time would have so encreas'd our Stock at Home, that we could have bought them at our own Door, from those whose Business it was to fetch them; and though it had cost us something more, yet the Difference of that Price was by no Means worth saving, at so great a Hazard.

一般人往往有一种通病，那就是不知足，老是不满于上帝和大自然对他们的安排。现在我认识到，他们的种种苦难，至少有一半是由于不知足这种毛病造成的。患有这种病的人大可以从我的一生经历中得到教训。就拿我自己来说吧，正是由于我不满自己原来的境况，又不听父亲的忠告--我认为，我有悖教训，实为我的&原罪&，再加上我后来又犯了同样的错误，才使自己落到今天这样悲惨的地步。当时，造物主已安排我在巴西做了种植园主。如果我自己不痴心妄想发财，而是满足于逐渐致富，这时候我也许已成了巴西数一数二的种植园主了，而现在我却白白地在这荒岛上流落了这么多年，过着悲惨孤寂的生活。而且，我在巴西经营时间不长；就是在这段短短的时间里，我也获利不少。因此我确信，要是我继续经营下去的话，到现在一定拥有十几万葡萄牙金币的家财了。当时，我的种植园已走上了轨道，并且日益兴旺。可是，我偏偏把这一切丢弃，甘愿去当一名船上的管货员，只是为了到几内亚去贩卖黑奴。现在想来，我为什么要这样做呢？要是我守住家业，只要有耐心，经过一段时间之后，同样可以积聚大笔财富，我不是也可以在自己的家门口，从那些黑奴贩子手里买到黑奴吗？虽说价钱贵一点，但这点差价绝不值得自己去冒这样大的风险！

By the time of its fall, most of the prisoners were writers who had written against the corruptions of the government.

到它被攻陷的时候，里面多数的犯人是写了反对政府贪污文章的作家。

The most obvious variation to ovum morphological character was that the color was changed from light green to sepiaceous in embryonic development, and all the ovums were almost hatched after 96h.

在胚胎发育过程中卵的形态特征最明显的变化是颜色从淡绿到深褐色，卵在发育96h后卵基本全部孵化。