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The empirical result demonstrates that:(1) the average abnormal reture and accumulated average abnormal reture around and after quarter surplus announcement change obviously, which illustrates the quarter surplus reports are of information content in our A share market;(2) the market can treat different types of accounting surplus data distinguishly by analysing inexpectant surplus as good news or bad news, but it reacts intensely to good news and flatly to bad news:(3) the market investors are paying more and more attention on accounting surplus of listed companies, which can be viewed in the annual text that the surplus reaction coefficient significance enhances;(4) A share market is, basically, under a state of semi-strong efficiency, or at least of an effective process from weak to semi-strong.

实证结果表明:(1)季度盈余报告公布前后平均非正常收益率和累积平均非正常收益率都发生了明显的变化,说明在我国A股市场季度盈余报告是具有信息含量的;(2)通过对未预期盈余分为利好组和利空组的分析,得出市场能够区别对待不同性质的会计盈余数据,但是市场对利空消息反应强烈,对利好消息反应平淡;(3)在分年度的检验中,可以看到盈余反应系数的显著性不断增强,证明我国A股市场的投资者对于上市公司会计盈余的重视程度在不断增加;(4)研究结果倾向于我国A股市场基本处于半强式效率,至少我国证券市场正处在从弱式有效向半强式有效转变的过程中。

If Ngai and Tenreyro are right, then the housing market dynamic is something like this: buyers slightly prefer to buy houses in the summer, so house prices are slightly higher in the summer, so sellers prefer to put their houses on the market in the summer, and with more houses on the market, the market is thicker.

如果纳吉和滕雷罗是对的,那么房产市场的动向可能会是这样:购房者略偏向于在夏季买房,因此夏季的房价会略高一些,卖房者也偏向于在夏季出售自己的房子。市场上的房子越多,市场就会越&丰厚&。

The basic function of county government is to perfect the configuration of market economy system to create basic conditions for the performance of market system by institutional innovation; the guiding function refers to the one that county government creates the development plans, strategies, policies and economic levers to promote the agricultural modernization, county industrialization,and urbanization for driving the county developmant; organizational function means that county government carries out the correct measures of industrial organization to avoid infavorable impact of overcompetition on economy and to improve the development and competitivity; regulatory function performs when county government regulates the conducts of market bodies by economic, legislative and administrative means to solve the externality and to sustain the development; and the complementory function acts on market by government supplying the public goods and harmonizing the social development.

基础性作用即县级政府通过一系列市场化的制度创新,建立完善了市场经济体制的基本框架,为市场机制发挥作用创造了基础条件;主导性作用即县级政府通过发展规划、发展战略、经济政策和经济杠杆,促进农业现代化、县域工业化和城镇化,使县域经济发展更具主动性;组织性作用即县级政府实施正确的产业组织措施,克服过度竞争对县域经济发展的不利影响,提高县域经济运行质量和竞争力;矫正性作用即县级政府通过一系列经济、法律、行政手段,对市场主体的行为进行调节,解决县域经济的外部性问题,使县域经济提高效率,实现可持续发展;补充性作用即县级政府发挥对市场的补充作用,主导公共产品供给,从根本上解决县域公共产品短缺问题,实现经济社会协调发展。

The steps of the reform: First, pushing forward the local and overseas places to gather together interest rate liberalization at first; Second, relaxing RMB interest rate control and strengthening money market construction reform; Third, formation of the national market interest rate system under bank with Central Bank reloan interest rate, money market interest rate, secondary market of national debt interest rate,etc.

改革的步骤:一是首先推进境内外汇利率市场化;二是以放松人民币利率管制和加强货币市场建设作为利率市场化改革重点;三是逐渐形成一个以中央银行再贷款利率、货币市场利率、国债二级市场利率等分布合理的银行间市场利率体系。

Under the current national condition of China, the socialism without market is rigescent socialism; the market without socialist principles is anarchy market. Under the socialist condition the government and the market could combine organically to emancipate and develop the productive forces.

目前中国特色社会主义体系中的政府与市场的关系正在逐步理顺和明确,政府最重要的职责就是创造有利于市场经济健康发展的外部环境,并通过宏观调控、建立社会保障体系等手段保持社会稳定和平衡。

The rise of happy net, let Chen Yizhou must amend the judgement that issued April this year:"Structure of domestic SNS market already was decided ", but very apparent, the net inside school is apparent cannot sit by and watch is happy the net produces so big menace to its, must go up in be in harmony particularly 100 million dollars, but enlarge market share to investor acceptance at the same time again, after entering white-collar market, sidewards is killed give a happy network, will block inside school was in besides white-collar market.

开心网的崛起,让陈一舟不得不修正了在今年4月份下的判断:&国内SNS市场格局已定&,但是很显然,校内网显然不能坐视开心网对其产生如此大的威胁,特别在融得上亿美元,但是又同时向投资人承诺扩大市场份额,进入白领市场之后,又横着杀出一个开心网,将校内挡在了白领市场之外。

From the analysis of the general market, analyzes the present situation of rural market, rural consumption characteristics of rural household appliances in the marketing strategy of the status quo and existing problems of target market, by subdividing the forward, and the use of rural household market marketing combination.

本文从市场的一般分析入手,分析了农村市场的现状,农民消费的特点以及在农村家电市场上的营销策略的现状及存在的问题,通过对目标市场进行细分,并有针对性的提出农村家电市场的4P营销组合。

However, this dissertation is not specially on how to establish China's market mechanism of stock market, it study on how to establish the market mechanism on which the tock market works in corporate governance.

但本文又不是专门讨论如何建立我国股票市场的市场机制,而是只探讨如何建立与公司治理机制有关的股票市场的市场机制,这与股票市场发展的首要目标是一致的、无冲突的。

From theories on the quasi-public goods and the relationship between government and market, the study uses the theoretical research,"case studies and comparative analysis methods to reach a definition on two concepts :market and legal services,and analyst the seven issues of the legal service market,and then it points out the main reasons: the unaccurate definition of legal services products nature, the backwardness of China"s legal construction,the external effects of the legal service market and Chinas imperfect administrative reforms.

本文采用理论研究、比较分析和案例研究方法相结合,从法律服务和市场两个概念出发,运用准公共产品理论和政府与市场关系理论对法律服务业存在的七大问题进行了深入分析,指出对法律服务产品的定性不准、中国法治建设的后发性、法律服务市场的外部效应、中国行政体制改革不完善是导致法律服务市场秩序混乱的主要原因。

However, today in the legal service industry, there are some conditions that can not be ignored: various subjects supervised by different public sectors,with different entry requirements and professional conduct ,at different cost,provide with the same or similar services in a market .That lead to the disorderly competition, lack and dislocation of the government supervision ,the uneven distribution of legal services resources and the growing tendency of commercial issues and uncredibility on the legel service market. That seriously influnce the healthy development of the legal service market,affect the values of the legal services fuctions and fulfill pushing on the rule of law,improvement of the socialist market economic system and building a socialist harmonious society with great efforts.

但是,法律服务业发展到今天,出现了一些不容忽视的状况:多个法律服务主体以不同的准入条件、不同的执业规范、不同的服务成本在同一个市场上提供相同或相似的服务,受到不同部门的监管,导致多个主体无序竞争、政府监管缺位错位情况突出、法律服务主体资源地区分布不平衡、法律服务业诚信缺失、商业化倾向日趋严重等问题,严重影响了法律服务市场的健康发展,难以有效实现法律服务的价值功能,难以适应依法治国、完善社会主义市场经济体制和构建社会主义和谐社会的需要。

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The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应,而且减少跟风的可能性。

The new PS20 solar power tower collected sunlight through mirrors known as "heliostats" to produce steam that is converted into electricity by a turbine in Sanlucar la Mayor, Spain, Wednesday.

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