查询词典 minister without portfolio

Properties of efficient portfolios and the efficient frontier to the model are systematically analyzed. Our main results concerning the properties are: every efficient portfolio can be solved by minimizing portfolio risk under a given level of portfolio return or by maximizing portfolio return under a given level of portfolio risk; on the efficient frontier, the risk is a convex and strictly increasing function of the return and the return is a concave and strictly increasing function of the risk; the utility function on the efficient frontier can be expressed as a quasi-concave function of the risk or the return if the investor's utility function is quasi-concave.

从理论上系统地对该模型下的有效投资组合和有效前沿的性质进行了分析，结果表明：每一个有效投资组合可通过在给定期望收益水平的条件下最小化投资组合风险来获得，或者在给定风险水平的条件下最大化期望投资组合收益来获得；在有效前沿上，风险是收益的严格单调递增凸函数，收益是风险的严格单调递增凹函数；当投资者的效用函数是拟凹函数时，则有效前沿上的效用可表达成风险或收益的拟凹函数。

This paper presents the portfolio selection problem of two-attribute money and creates a model of portfolio selection based on two-attribute money, which can both contain the existing portfolio models and overcome the above-mentioned deficiencies. A series of new concepts is put forward, such as, holding wealth, obtainable wealth, short-term utility function, short-term expectation-variance utility function, state-expectation-variance utility function, short-term expectation-variance utility curve, long-term expectation-variance utility curve, margin utility contribution force, additional contribution force, profit-risk exchange rate and optimal portfolio expansion curve; The state-expectation-variance analytical method is developed from the expectation-variance analytical method; A set of systematic theories concerning two-attribute portfolio selection is thus established.

本文提出了两属性货币的证券组合选择问题；创建了既能包含现有证券组合选择模型又能克服上述两点不足的两属性证券组合选择模型；提出了持有财富、可获财富，短期效用函数，短期期望—方差效用函数、状态—期望—方差效用函数，短期期望—方差效用曲线、长期期望—方差效用曲线，边际效用贡献力，附加贡献力，收益—风险替换率，最优证券组合扩展线等一系列新概念；把期望—方差分析方法发展成状态—期望—方差分析方法；建立了两属性证券组合选择模型的一套系统的理论。

Just as Adam Clayton Powell is a Christian minister who heads the Abyssinian Baptist Church in New York, but at the same time takes part in the political struggles to try and bring about rights to the black people in this country; and Dr. Martin Luther King is a Christian minister down in Atlanta, Georgia, who heads another organization fighting for the civil rights of black people in this country; and Reverend Galamison, I guess you've heard of him, is another Christian minister in New York who has been deeply involved in the school boycotts to eliminate segregated education; well, I myself am a minister, not a Christian minister, but a Muslim minister; and I believe in action on all fronts by whatever means necessary.

正如亚当克莱顿鲍威尔是一个基督教的部长一样，他作为在纽约阿比西尼亚施洗约翰教堂的首领，同时，也参加了政治斗争来争取并提出关于我们国家黑人的权利；马丁路德金也是一个基督教部长，沿着亚特兰大和乔治亚他作为另一个为了我们国家黑人的权利组织斗争的首领；尊敬的卡勒密斯教士，我猜想大家都听说过他，他是另一个在纽约的基督教部长，他已经深深地潜心于罢课来消除隔离的教育；我自己本身也是部长，不是基督教部长而是穆斯林教部长，我相信在斗争的所有阵线上，无论哪一个条阵线都是必要的。

The dissertation in depth analyzes the inner relationship between hedging and risk diversification, finds out that the relevance among prices or returns of different assets is the common basis for hedging and portfolio selection,and presents the notion of hedging portfolio selection referring to portfolio selection theory,which means that hedgers choose optimal hedging portfolio from a set of feasible hedging tools considering risky elements and hedger\'s real requirements during the course of hedging.

本文深入分析了套期保值与风险分散化思想的内在联系，指出资产之间价格的相关性是套期保值问题和资产组合选择问题的共同基础，提出应该在真正的资产组合选择理论意义上研究套期保值问题的研究思路，即在充分考虑套期保值过程中各种风险因素和套期保值者实际要求的基础上从可供选择的套期保值工具集合中选择最优套期保值组合，并称这种研究套期保值的方法为套期保值组合选择。

The innovations of this essay are following:Ⅰ, Completely investigating the theoretic introduction, practical application, and effects on investment administrant, and putting forward that China should transit gradually from dracon quantity regulation rules to prudent man rules;Ⅱ, Lucubrating the rational, negative effects, and experience tests of portfolio allocation regulation, performance regulation, and industry structure regulation of pension funds over OECD countries;Ⅲ, Analyzing the rational and sensibility of relative rate of return guarantees of pension plan, and advancing the scheme of rate of return guarantees of China;Ⅳ, First investigating the investment policy of pension plans globally using "contents analysis" over the world pension plans;Ⅴ, Lodging that portfolio diversification should be the most important risk management instrument, and presenting efficiency measure model of evaluating portfolio diversification of pension funds;Ⅵ, Lucubrating the optimal portfolio allocation model during accumulation phase and decumulation phase of pension funds; taking for that risky assets should decrease with time reducing during accumulation phase, but during decumulation risky assets should increase.

指出了本文研究的主要结论，以及研究的不足和未来研究的方向。本文研究的创新点在于：（1）从法和经济学的原理角度，全面研究了&审慎人&原则的理论解释、实践应用、对投资管理人行为影响的实证分析以及成功实施&审慎人&原则的因素分析，提出我国养老基金的投资管制应该逐步从严格的数量管制原则过渡到&审慎人&管制原则；（2）深入研究了养老基金的资产配置管制、业绩管制和产业结构管制的基本原理、负面效应、实证检验等，以及对OECD国家的国际比较；（3）研究了养老金计划的相对收益率担保的基本原理，并对其作用机制进行了敏感性分析，提出了我国收益率担保机制设计的方案；（4）首次采用&内容分析法&对国际范围内的养老金计划的投资政策进行了研究，找出了投资政策应该包含的关键要素；（5）提出组合多样化是最重要的风险控制手段，并给出了衡量养老基金组合多样化程度的效率评价模型；（6）深入研究了养老基金积累阶段和缩减阶段的最优资产配置的数量模型，认为在积累阶段对风险资产的投资应该随着时间减少，而在缩减阶段，风险资产应随着时间增加。

In the sitting of the House of Representatives or the Senate for consideration of an interpellation on any matter within the scope of the authority of Minister or for a general debate for the purpose of passing a vote of no-confidence in the Prime Minister or in an individual Minister, the Prime Minister or such Minister shall attend the sitting of the House of Representatives or the Senate for giving statement or answer thereon by himself, provided that there occurs an inevitably cause which hinder him in so doing but he shall notify the President of the House of Representatives or the President of the Senate on or before the sitting date.

在坐的众议院或参议院审议的质询对任何事项的范围之内的权威，部长或进行一般性辩论，目的是通过投票的不信任总理或在个别部长，总理或部长应出席会议的众议院或参议院给予陈述或就此回答自己，只要有一个必然发生的原因阻碍他这样做，但他须通知主席的众议院或参议院议长或坐在面前的日期。

Minister without portfolio ,ie a Cabinet Minister without responsibility for a particular department

英国不管部大臣。这个很低的数字反映了极为有限的债务的重新安排，因而商业银行逐步减少了对缺乏资金的发展国家的信贷。

Minister without portfolio,ie a cabinet Minister without responsibility for a particular department

英国不管部大臣。议员们与内阁大臣们在取消种族隔离制度问题上发生争论。

Chapiter 2 discusses the theory of assets portfolios, which starts to analyze investor, arid deduces framed investor"s feasible set arid efficient set, discUss different forms and characteristic of efficient portfolio, and systematic analyzes the effect of portfolio, risk diversification, followed briefly summarizes the formation, development, application and limit of the "theory of portfolio, created by Markowitz.

本章从投资者开始分析，给出了框定投资者的可行集和有效集，并讨论了各种不同的有效组合类型及其性质，同时系统研究了资产组合的效应——风险分散，最后简要综述了马柯维茨投资组合理论的产生、发展、应用与局限。

We also find that among the three investment strategies we discussed – the momentum strategy, buying the top or the bottom decile portfolio of funds, adopting the momentum strategy gets a better Sharpe ratio if the emerging market, energy, and mineral funds are not considered. For the portfolio of emerging market, energy, and mineral funds, it is with better performance for the strategies of buying the top or the bottom decile portfolio of funds.

最后，以Sharpe ratio为比较各投资策略在各投资分类的基准，采取动能策略操作基金，在移除新兴、能源、矿业基金之投资组合中有较高的报酬；又以买入形成期表现最好及买入形成期表现最差的基金为操作策略时，在新兴、能源、矿业基金这一分类出现较佳之绩效。

The circulation, consumption and reproduction of the trilogy have not only testified to its historical significance and literariness, but also invested it with new meanings.

该三部曲的流通、消费与再生产不仅验证了其历史意义及文学性，而切还赋予它以新的意义。

If he thought that he could buy me off, he would be wrong.

如果他认为他可以收买我，那他就大错特错了。