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When I formally entered xx University, a post-doctoral student in the first year of doctoral studies, I will try to follow my mentor to study the appropriate theoretical courses and doctoral studies in the second and third year, I hope that instructors Finance under the guidance of the study, in the course of the study, I will try more in the relevant academic journals and publications published their own papers.

当我正式进入xx大学，成为博士生后，在博士学习的第一年中，我将努力跟随我的导师学习相应的理论课程，在博士学习的第二和第三年，我希望在导师的指导下进行财务学应用的研究，在进行研究的过程中，我将尽力多点在相关的学术杂志和刊物上发表自己的论文。

This Paper first introduces the present condition and the Venture Capital's present study condition by the main studier in various countries and point out the paper's main study work in the part one; part two mainly presents the basic concept of Venture Capital, Capital Operation and the tradition employed methods of decision making, then analysis these methods to find it's advantages and disadvantages; part three mainlyintroduces this paper's study tool------the Option Pricing Theories.

本文第一章首先介绍了世界各国的风险投资发展概况以及目前国内外学者对风险投资的研究现状，并指出了本文将要做的几项工作。第二章系统的介绍了风险投资的基本概念、投资运作以及目前普遍采用的决策方法，然后分析指出了这种方法存在的重大缺陷。第三章主要介绍了本文的研究工具——期权和期权定价理论。

This study is a subtopic (75-57-03-03-01) of the topic which is named "The Study of Water-Saving in Agricuture" and is a part of the 57th project in the 7th 5-year national major projects of science and technology-"The Study on the Water Resources of North China and Energy Base of Shanxi Province".

本项研究是"七五"国家重点科技攻关项目第57项"华北及山西能源基地水资源研究"中"农业节水研究"专题的一个子专题(75-57-03-03-01)，属宏观研究课题。

Influenced by the exterior source input of the detrital matters, U-series dating using aragonite is not suitable to the study of Lake Sugan sediment and a further study is required.2. The isotopes study of precipitation-groundwater-lake water system in Lake Sugan drainage area indicates that in modern climate system, the precipitation in Lake Sugan drainage area is mainly supplied by the water vapor carried by Westerly.

沉积物文石的铀系测年受到外源碎屑输入的影响，在苏干湖并不适用，需做进一步的研究。2、苏干湖流域降水-地下水-地表径流-湖水同位素系统研究表明，现代气候条件下苏干湖流域大气降水主要来源于西风环流携带的水汽输入。

In our study, we adopt theQCD effective models, which have the properties of chiral symmetry andother underlying properties possessed by QCD, to study the hadron and nuclearproperties. We engage in our study in two aspects.

鉴于目前QCD在低能区域对强子性质与核性质描述的困难，在本文中，我们采用有着手征对称及其自发破缺等这些基本特性的QCD有效模型来描述强子与核的性质。

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。

His major academic interests were the study of the novels and dramas of the Ming and Qing Dynasties, the study of literary works rediscovered from the Dunhuang Mogao Caves, and the study of the academic history of China.

狩野直喜博士的研究范围主要集中在明清小说和戏曲的研究、敦煌文学研究、支那学术史三个方面。

The research study has become the current curriculum hot spot, this article has discussed in the research study practice stratification plane several prominent questions: The top digit knew and the low position practice; takes to begin the result, the contempt process; appears the deviation, a cover surface narrower; method and the method in the research study content choice is unitary and so on the question.

研究性学习已成为当前课程改革的热点，本文探讨了研究性学习实践层面上的几个突出问题：高位认识与低位实践；重视开头结尾，轻视过程；内容选择上出现偏差；覆盖面较窄，方法与手段单一等。

Alpine treeline is an important ecotone, which is sensitive to climate change. So treeline ecology is of significant to study on global change. This study is a case study in Gonggashan Mountain, Southwestern China.

本研究以贡嘎山树线为例，以响应气候变化的可能敏感指标：树线位置动态、生长型的变化和树木更新节律为突破口研究树线对气候变化的响应，并与川西地区气候变化重建资料和巴郎山树线动态进行了对比。

By 1990s, Manchu study had gradually become a independent study out ofArts through the long-term efforts made by international experts; Tungusic Study is also taking shape.

经海内外专家学者的长期努力，到20世纪90 年代，满学开始从人文学科中逐渐形成一门独立的学科；通古斯学亦日益发展成熟。

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。