查询词典 institutional

For the trade association in China, the superincumbent institutional force is absolutely indispensable.

对于后进国家而言，为了构建合理的行业协会法律制度，自上而下的制度推动必不可少。

For this to have happened swiftly, however, there would have had to be different institutional arrangements.

不过，要想让这一切迅速发生，我们必须建立不同的机制安排。

The poor institutional environment in Chinese stock market is one of the reasons for the high synchronicity of stock price.

全文共分为七章，各章的主要内容如下：第一章为导论。

Analysis of its causes, in addition to the traditional sense of "historical influence of traditional" factors such generalization, but also by the concept of modern democracy-building in the village at the end; imperfect system of village representatives, the lack of monitoring the implementation of the institutions; villages appeared on behalf of villagers with the villagers of the impact of social stratification efficiency; Basis as a result of poor villages, the villagers than the cost of representatives of institutional arrangements for the proceeds of a direct impact on such factors.

分析其原因，除了在传统意义上的"受传统历史影响"这类普遍化因素外，还受到现代民主理念末在该村庄建立；村民代表制度不完善，缺乏监督执行的机构；村庄出现村民代表与村民的社会分层影响效能发挥；由于村庄基础较差，村民代表会议制度安排成本高于收益等因素的直接影响。

In the part of empirical analysis of Chinese IPO first-day return, the difference between existing study and this study is that we use principal components analysis to extract from five factors to construct investors'sentiment index, add it to controled varibles, on which we examine the influence of offering mechanism on IPO first-day return. Moreover, we gather statistics and compare the IPO holding return for lockup period between fixed-price-class offering method and bookbuilding-class offering method, as well as price range between Chinese A-share market and Hongkong stock market, which prvide comprehensive evidence to appraise Chinese IPO bookbuilding mechanism. 2. Compare to the existing literatures which consider discount or allocation, incentive allocation and discount are considered at the same time in optimal mechanism design in this dissertation, and the offering bottom price is introduced to the price range. We investigate the relationship between price range and allocation quantity, and obtain the optimal price range and allocation strategy so that the advantages of independent allocation are reflected. On the other hand, the disadvantages of independent allocation are reflected in the manipulation in case of no restriction on IPO allocation. To distinguish from the existing literatures, bookbuilding mechanism is introduced to the model. We study the allocation strategy adopted by the underwriter in the pooling equilibrium of manipulation. In addition, we analyze the incentive compatibility conditions to which the existence of pooling equilibrium should satisfy and examine some factors'impact on the existence of manipulation.3. In bookbuilding without independent IPO allocation, Chinese realistic IPO background is considered and the condition of bookbuilding and fixed-price hybrid offering is added. Divide bookbuilding and fixed-price hybrid offering into sequential hybrid and simultaneous hybrid, and point out that the key points of subscription strategy in the two kinds of hybrid are different. Through modeling and simulation we obtain the impact of institutional investors'subscription strategy on bookbuilding without independent IPO allocation, which fill the gap in related research. Moreover, in the part of IPO bookbuilding with over-allotment option, the pricing strategy is divided into hot-IPO strategy and weak-IPO strategy. Take into account the procedure of Chinese IPO with over-allotment option, it presents how the underwriter determines the pricing strategy and what effect it brings to offering price and issue size through modeling and simulation. Therefore, it is instructive as a complement to existing literatures.

此外，对我国A股市场询价发行方式与固定价格发行方式下的IPO锁定期到期时持有收益率、以及我国A股市场与香港市场的询价发行价格区间进行了统计比较，为评价我国IPO市场的询价发行提供了比较全面的依据。2、相比已有文献仅考虑折价和分配中的一种激励措施，本论文在有自主配售权下的机制设计中并用了分配与折价两种激励措施，并且在价格区间的制定中引入发行底价，考察了价格区间与分配量之间的关系，得到最优的价格区间和分配策略，从中体现自主分配权的优点；在有自主分配权下的操纵行为研究中则体现了自主配售权的弊端，与已有文献不同的是，在模型中引入了累计投标询价机制，研究了承销商在混同均衡操纵中采取的分配策略，并对操纵存在的条件进行分析讨论，得出各个因素对混同均衡操纵存在的影响。3、在无自主分配权下的询价发行中，充分考虑了我国实际应用的背景，加入了与固定价格发售混合的条件，并将询价与固定价格混合发行分为序贯与同步两种方式，指出机构投资者在两种情况下申购策略的侧重点各有不同，通过对序贯混合发行方式下的网下累计投标策略以及同步混合发行方式下的资金分配策略的模型建立和数值仿真，考察了机构投资者申购策略对无自主分配权下的询价发行的影响，填补了相关研究文献的空白；在包含超额配售选择权的询价发行中，将发行定价策略分为热销策略和弱销策略，在考虑了我国含超额配售选择权的发行流程下，通过建模以及数值仿真得出承销商会对发行定价策略作出怎样的选取，进而会对新股发行价格、发售数量产生怎样的影响，对目前相关研究的缺乏做出了有益的补充。

A body with multiple accounts are open to the public the fact that institutional investors can use the accounts were involved in different networks and on-line application under the Placing in order to achieve online network of "take-all."

一个机构拥有多个账户是公开的事实，机构投资者完全可以用不同的账户分别参与网下配售与网上申购，从而实现网上网下"通吃"。

For example, under the network of separate online application to participate in the object, any object can only choose a placement network or the Internet under way, this provision could have been avoided online network of institutional investors under the "take-all."

比如，将网下网上申购参与对象分开，任一股票配售对象只能选择网下或者网上一种方式，这一规定可以避免机构投资者网上网下"通吃"。

Students can major in fields such as communication and innovation studies (communication, facilitation and design focus), technology and agrarian development (technography and institutional focus) and rural development sociology (focus on livelihood strategies and local knowledge issues).

学生可以在主要领域，例如沟通和创新研究，技术和农业发展（technography和机构重点）和农村发展社会学的生计战略和当地知识问题。

In this new building era of modern municipal and institutional facilities,DecoFlor Epoxy Terrazzo delivers at your feet the experience of art's everlasting beauty.

在这方兴未艾的中国现代化都市建设中，DecoFlor环氧特悦石将是您倘徉于对美和艺术的全新体验之中！

Themis, an institutional brokerage, says other trading practices need reform as well.

机构经纪商Themis表示，其它交易做法也需要改革。

The labia have now been sutured together almost completely.The drains and the Foley catheter come out at the top.

此刻阴唇已经几乎完全的缝在一起了，排除多余淤血体液的管子和Foley导管从顶端冒出来。

To get the business done, I suggest we split the difference in price.

为了做成这笔生意，我建议我们在价格上大家各让一半。