查询词典 market price

Comparisons between market performance under auction mechanisms and that under market maker mechanisms are made in terms of liquidity, stability, efficiency and transparency. The comparative results show that certain price formation mechanics integrated with specific market environment can affect market performance. The results of the test that is used to verify the liquidity of security market in China indicate that current price formation mechanics can provide the securities market with better liquidity. But the fixation of the minimum changing price lowers the liquidity of the market factitiously and close call auction mechanisms result in increased price fluctuation and price manipulation. Through the analysis on the competitive strategy of securities market, the objects and principles of the design of price formation mechanisms are established.

本文推导出了竞价机制和市商机制下证券市场的均衡价格，结果表明不同的价格形成机制对资产的真实价格有着不同的反映；从证券市场的流动性、稳定性、有效性和透明度等四个方面分别对竞价机制和做市商机制下的市场绩效进行了比较分析，结果表明一定的价格形成机制和特定的市场环境相结合就会对市场绩效产生不同的影响；通过对我国证券市场的流动性进行实证检验，发现当前我国证券市场价格形成机制能够为市场提供较好的流动性，但固定的最小变动价位人为地降低了市场流动性，并且封闭式的开盘集合竞价导致价格波动加大和市场操纵。

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。

This dissertation explores the Value Price Theory of Adam Smith, the Price Theory of David Ricardo, the Labor Value Theory of Karl-Marx, the Price Theory of the production expenditure of J. Say, the Marginal Utility theory of Eugen Von Bohn-Bawerk and the Equilibrium Price Theory of Maxieer. Meanwhile it researches the modem market price theory and modern enterprise price practice. Using Marxism and modern market price theory synthetically to analyze passenger price formation mechanism of Civil Aviation of China overall, systematically and deeply on theory.

本文全面分析了亚当·斯密的价值价格理论、大卫·李嘉图的价值价格理论、马克思的劳动价值论、萨伊的生产费用价格论、庞巴维克的边际效用论和马歇尔的均衡价格论，分析了现代市场价格理论以及企业定价实践研究的成果，综合运用马克思主义及现代市场价格理论，对中国民航客运价格形成机制进行了全面、深入、系统的理论分析。

North America Antigua and Barbuda, Barbados, Bahamas and Panama Belize Dominica Grenada, Cuba and Haiti Costa Rica, Dominica, Honduras, Canada and USA Mexico, Nicaragua and Salvador Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines Trinidad and Tobago Costa Rica Guatemala, Jamaica and American manufacturing helicopter prices; the United States of America manufacturing helicopters prices; the United States manufacturing helicopter prices; the United States of America manufacturing helicopters prices; the U.S. manufacturing price of second-hand helicopters; the United States of America second-hand helicopters manufactured price; the U.S. manufacturing price of second-hand helicopters; the United States of America second-hand helicopter manufacturing price; Mobile:+0086-13901623260; Chen surname; European countries manufacturing helicopters prices; European helicopter manufacturing price; European helicopter manufacturing price; European helicopter manufacturing prices; European countries manufacturing price of second-hand helicopters; European manufacturing price of second-hand helicopters; European manufacturing price of second-hand helicopters; European manufacturing second-hand helicopters prices

北美洲安提瓜和巴布达巴巴多斯巴哈马巴拿马伯利兹多米尼加多米尼克哥斯达黎加格林纳达古巴海地洪都拉斯加拿大美国墨西哥尼加拉瓜萨尔瓦多圣基茨和尼维斯圣卢西亚圣文森特和格林纳丁斯特立尼达和多巴哥危地马拉牙买加美国生产制造直升飞机价格；美利坚合众国生产制造直升飞机价格；美国生产制造直升机价格；美利坚合众国生产制造直升机价格；美国生产制造二手直升飞机价格；美利坚合众国生产制造二手直升飞机价格；美国生产制造二手直升机价格；美利坚合众国生产制造二手直升机价格；Mobile：+0086-13901623260； Chen surname；欧洲各国生产制造直升飞机价格；欧洲各国生产制造直升飞机价格；欧洲各国生产制造直升机价格；欧洲各国生产制造直升机价格；欧洲各国生产制造二手直升飞机价格；欧洲各国生产制造二手直升飞机价格；欧洲各国生产制造二手直升机价格；欧洲各国生产制造二手直升机价格

The results indicate that in US where the real estate market is mature and steady, land price determines the housing price; in Japan where the real estate market is abnormal, housing price determines the land price; in China where the completion of real estate market is unredeemed, land price determines the housing price.

结果表明：在美国，房地产市场处于成熟、平稳的发展阶段，地价决定房价；在日本，房地产市场处于异常发展阶段，房价决定地价；在中国，房地产市场尚未达到稳定阶段，地价决定房价。

The company website operation, develops the B2C service to develop channels and so on Carrefour, Bestbuy to complete to Southeast Asia market survey Region marketing consultant works the responsibility division key sales territory, investigates the market environment and the domestic customer consumer behavior development essential channel seller, formulates the region sales program formulation reasonable price strategy, the opportune moment carries on the effective promotion customer maintenance, utilizes the actual seller the 4C theory to train The main achievement completes TOYOTA the SALE training (behavioral science, marketing theory, CS, brand management), grasps Toyota Production System and Just in the time management implements the Toyota type sale, manages in the region the channel, the achievement month by month promotes, to achieve the region year sales target (70,000,000 RMB) The commodity business planning works the responsibility deliberated company's profit structure, the analysis with the control division old times the profit and loss, the formulation new product operational policy, the strategy market environment investigation estimate potential market profit rate comparison product competition situation, the product localization, the estimate life cycle, the curve analytic product cost, after formulation price strategy product going on the market, track produce market situation The main achievement participates in W-PJT, NOVA-PJT, the AIR-FORCE project, under the project participates in the personnel joint effort, the product year sales volume achieves 100,000 Commodity business planning work responsibility market survey; Coordinates the South Korean research and development personnel, to the new product the brand-new development, formulates the zone price strategy, compared with competitive power situation.

公司网站运作，开拓B2C业务开发Carrefour、Bestbuy等渠道完成对东南亚市场调查区域销售顾问工作职责划分重点销售区域，调查市场环境及当地客户消费行为开发关键渠道销售商，制定区域销售计划制定合理价格策略，适当时机进行有效的促销活动客户维护，将4C理论运用到实际销售员培训主要业绩完成TOYOTA SALE培训（行为科学、营销理论、CS、品牌管理），掌握Toyota Production System和Just in time管理实施Toyota式销售，管理区域内渠道，业绩逐月提升，达成区域年销售目标（7千万RMB）商品企划工作职责与管理部研讨公司的利润结构、分析往年损益，制定新品经营方针、策略市场环境调查估计潜在市场获利率比较产品竞争情况，产品定位，预估生命周期、曲线分析产品成本，制定价格策略产品上市后，跟踪产品市场情况主要业绩参与W-PJT、NOVA-PJT、AIR-FORCE项目，在项目参与人员共同努力下，产品年销量均达到10万台商品企划工作职责市场调查；协同韩国研发人员，对新产品全新开发，制定区域价格策略，比较竞争力情况。

This reporter has learned that March 23 flight from Shanghai to Xiamen, the price of 3 packs 290, Day 20 Shanghai to Sanya Price for 4 packs of 760 yuan, the Shanghai-Kunming route March 23 Price for 5 packs of 530, 3 month on the 19th route from Shanghai to Zhangjiajie Price for 4 packs 530, flights from Shanghai to Chengdu on March 23 for the 4 pack Price 640 yuan, while in the previous February, February 11 from Shanghai to Chengdu, the price of 5 discount at 810 yuan Shanghai to Zhangjiajie February 13 at the price of about 6 packs, air routes from Shanghai to Xiamen, the price of 6 at around 580 fold.

记者了解到，3月23日上海至厦门航线的价格为3折290元，20日上海到三亚的价格为4折760元，上海至昆明航线3月23日的价格为5折530元，3月19日上海至张家界航线的价格为4折530元，上海至成都航线3月23日价格为4折640元，而在此前2月份，2月11日上海至成都的价格在5折810元，上海至张家界2月13日的价格约在6折，上海至厦门航线的价格在6折580元左右。

Based on the Arcview platform and compiling programs by ourselves, the DLPM of urban area of Jinan in 1998 and 2001 is established. The main conclusions are: 1 general trend of land price is reduction from central base point to urban edge, but there are different characteristics in different direction; 2 from one edge to another, land price shows low-high-low, and its sections through urban areas show normal school and deflection normal school; 3 land price evolutes with time, concaveness land price terrace changes little or gentle or protruding, and protuberant land price terrace changes little or not, price terrace or big or gentle; 4 the increasing potential of price is analyzed by the increasing rate and increasing speed of land price.

分析数字地价模型得出结论：①地价从中心基点向城市边缘总趋势是降低，但不同方向表现出不同的特点；②在贯穿市区的地价剖面中，一般表现为从一个边缘到另一个边缘的地价由低到高再到低的变化规律，由於地价剖面经过不同的市区区位，呈现出正态和偏正态的分布特点；③在时间演化上，凹性地价阶地变小或变平缓，凹性地价阶地转变为凸性地价阶地，凸性地价阶地变小或转化为非地价阶地，凸性地价阶地变大或平缓；④利用地价增值率和地价增值速度分析了地价的增值潜力。

With a background of heated gold investment, most new passionate investors came into the market without simply understanding the gold investment. This made many investors lost their capital when first stepped into the market. In addition, many gold exchange types are specialized in enlarging guarantee sum. Compared with investment in stock market, investors who invested in types characterized in enlarging guarantee sum would likely to face more risks and challenges. Those risks could enlarge investors' one-year loss in stock market to one-day loss in gold market. Nowadays, Chinese gold market can be differentiated into material gold market, paper gold market, in-stock gold and future gold market. Because of the enlarging system in international gold market, investors may lose to the bottom in one day if he or she chose a guarantee sum dealer with an highly enlarging system. Of course, this is an ultimate example. In gold market, the type with the least risk is material gold, such as gold memorative silver coin, material piece of gold and gold brick. Material gold investment enjoyed its popularity among middle or large cities located in the middle and eastern part of China.

在黄金投资火热的背后，是大部分新入市投资者盲目的热情，由于对黄金投资缺乏了解，很多投资者入市即被套，而且很多黄金交易品种具备保证金放大效应，和在股市投资相比，投资者炒作保证金放大品种进行投资，往往需要面对高额风险，这种风险可以使投资者在股市中一年时间遭受的损失在一天内就提现出来，现在国内黄金市场主要分为实物黄金市场、纸黄金市场、黄金现货、黄金期货市场，其中国际黄金现货市场由于存在高度放大机制，如果投资者选择具备高度放大的保证金交易商，经常会出现一天内就会血本无归的情况，当然，这是极端的情况，黄金市场中，风险最小的是实物黄金，例如黄金纪念金银币、实物金条、金砖，实物黄金投资在中东部地区大中城市比较流行。

With a background of heated gold investment, most new passionate investors came into the market without simply understanding the gold investment. This made many investors lost their capital when first stepped into the market. In addition, many gold exchange types are specialized in enlarging guarantee sum. Compared with investment in stock market, investors who invested in types characterized in enlarging guarantee sum would likely to face more risks and challenges. Those risks could enlarge investors' one-year loss in stock market to one-day loss in gold market. Nowadays, Chinese gold market can be differentiated into material gold market, paper gold market, in-stock gold and future gold market. Because of the enlarging system in international gold market, investors may lose to the bottom in one day if he or she chose a guarantee sum dealer with an highly enlarging system. Of course, this is an ultimate example. In gold market, the type with the least risk is material gold, such as gold memorative silver coin, material piece of gold and gold brick. Material gold investment enjoyed its popularity among middle or large cities located in the middle and eastern part of China.

在黄金投资火热的背后，是大部分新入市投资者盲目的热情，由于对黄金投资缺乏了解，很多投资者入市即被套，而且很多黄金交易品种具备保证金放大效应，和在股市投资相比，投资者炒作保证金放大品种进行投资，往往需要面对高额风险，这种风险可以使投资者在股市中一时间遭受的损失在一天内就提现出来，现在国内黄金市场主要分为实物黄金市场、纸黄金市场、黄金现货、黄金期货市场，其中国际黄金现货市场由于存在高度放大机制，如果投资者选择具备高度放大的保证金交易商，经常会出现一天内就会血本无归的情况，当然，这是极端的情况，黄金市场中，风险最小的是实物黄金，例如黄金纪念金银币、实物金条、金砖，实物黄金投资在中东部地区大中城市比较流行。

Article 144 The Government of the Hong Kong Special Administrative Region shall maintain the policy previously practised in Hong Kong in respect of subventions for non-governmental organizations in fields such as education, medicine and health, culture, art, recreation, sports, social welfare and social

第一百四十四条香港特别行政区政府保持原在香港实行的对教育、医疗卫生、文化、艺术、康乐、体育、社会福利、社会工作等方面的民间团体机构的资助政策。原在香港各资助机构任职的人员均可根据原有制度继续受聘。

Small wonder, then, that the Chinese spend more in the shop than any other group of foreign visitors do .

这样的小惊喜，使中国顾客比任何国家的人消费得更多。