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This paper analyses the homogenous tendency of open-end fund at first,pointing out that unperfect development of market and investors' immature investment opinions is the origin of such phenomena. Secondly,having compared the fund sizes and purchase fee rates of 25 open-end funds in China,conclude that there are problems of diseconomy of scale and indistinctive relativity between fees and achievement in Chinese open-end funds. Then this paper introduces benefit and cost function to analyze the problem of lack of motivation and constrain mechanism towards fund managers because of unreasonable fees in China. Thirdly,this paper analyze funds managers' normal hazards by static game model,and then points out fund managers have serious tunneling behaviors in Chinese open-end fund industry. In the end,this paper analyzes the causes of liquidity risk of open-end fun and the particularity of liquidity risk of open-end fund in China,and concludes that liquidity risk in Chinese open-end fund industry is higher through calculating the rates of share change and comparing the portfolio selections of top 20 open-end funds in China.

本文首先分析了我国目前存在的基金产品同质化现象,指出市场发展的不完善以及投资者投资理念的不成熟是同质化的根源所在;其次对比了我国现有的25只开放式基金的规模和申购费率,得出了我国开放式基金存在着规模效应不明显以及基金业绩与费率相关性不强的问题,并引入效益函数和成本函数分析了由于我国开放式基金费率不合理引发的基金管理者激励约束机制缺失的问题;再次,应用静态博弈模型分析了基金管理人面临的道德风险,指出目前我国开放式基金由于监管机制脆弱而存在着较为严重的管理者利益输送行为;最后,分析了开放式基金流动性风险的形成原因以及我国基金市场流动性风险的特殊性,并通过计算目前我国基金资产规模前20位的开放式基金的份额变动率以及比较它们的投资组合结构,得出了目前我国开放式基金流动性风险偏大的结论。

The process of moral education is first and foremost the process of interaction of school institutionalism.

制度关系与道德教育既有同质性方面,也有异质性方面,扩大同质性并克服异质性是教育从而也是道德教育的内在要求。

"It's not just about monoculture of farms, where one farm grows only one crop, it's also monoculture within those crops and within fields," he said.

他说:"这不仅仅是农庄种植同质化,即一个农场种植只种植一种农作物,这也是农作物和地区性的种植同质化。"

The collection of overhead costs associated with each set of activities is called homogeneous cost pool.

由一系列的同质的作业相联系的间接费用集合,被称为同质成本库。

Culture progressivism based on culture homogeneity and heterogeneity D.

多种文化撞击的结果导致了人们不同的文化选择,因而形成对文化全球化的不同理解,产生了多种冲突的文化观念。A基于全球文化同质论的文化帝国主义:B基于全球文化异质论的文化相对主义;C基于全球文化同质性与异质性相统一的文化进步主义;D基于文明冲突论的身份认同危机。

Markov chain, Statistical theory and Optimization method are used to study bonus-malus systems, mainly focusing on revising and designing of the bonus-malus system. The primaty research content and results are obtained as followes:1. Based on the characteristic that the policy will be divided into homogeneous composition and policies of non-homogeneity in a models to fit the claims numbers.

在保险实践中,将保单分为同质性保单(来源:ABC论d1文网www.abclunwen.com)组合和非同质性保单组合,根据这个特点,文中分别用不同的模型来拟合保单的索赔次数,具体的讨论了两类组合中两种特殊分布,对分布中的参数进行了估计,给出了数值算例,并分析了拟合结果。2。

In competition initial stage for journalism, homogeneity is favorable to the improvement of the quality of the newspaper, but that homogeneity develops into certain stage will aggravate the fierce degree of the competition , result in propagandizing maliciously , sell such unfair competition phenomena as the newspaper , and present newspaper unboundedly ,etc. at a low price.

在报业竞争初期,同质化有利于报纸质量的提高,但同质化发展到一定阶段,会加剧竞争的激烈程度,导致恶意炒作、低价售报、无节制赠报等不公平竞争现象。

The text meaning is knowable, and the direct foundation of knowability is the spirit of text with nature, and the basic foundation of knowability depends on practice of mankinds with nature.

文本意义是可知的,可知性的直接基础是理解与文本的精神同质性,可知性的根本基础在于人类实践的同质性。

An application of the test to the comparisons of the eleven sequenced arthropod mtDNAs revealed that most of the observed evolutionary models were homogeneous between the two mosquitoes but not between Daphnia pulex or Artemia Franciscan and the other arthropod, probably due to shifts to a high AT content.

在真实数据中,用11种节肢动物线粒体DNA的比较中发现,水蚤或卤虫与其他9种节肢动物以高百分比违背了同质性进化模型假设,显然是由于AT含量高而引起的,且在两种蚊子的线粒体DNA比较中发现,其满足同质性假设仅有7.69%。

During the last decade, many studies have hypothesized that the MADS-box proteins could form specific dimers, which would be further assembled into tetrameric complexes to have more functions. In order to prove whether BCFMADS and CCFMADS genes can interact with each together to form either homodimer or heterodimer, we used an in vitro approach to analyze protein expressions for both genes.

MADS-box基因中,基因并不会单独的表现,而是透过形成同质二元体、异质二元体或是蛋白质复合体来表现其基因的功能性,因此本研究为欲证实BCFMADS以及CCFMADS基因间可否形成同质二元体或是异质二元体,乃利用E。

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According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.

曝气设备的动力效率在叶轮转速为120rpm~150rpm时取得最大值,此时氧利用率和充氧能力也具有较高值。

The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.

稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世,形体几无变化。

When I was in school, the rabbi explained everythingin the Bible two different ways.

当我上学的时候,老师解释《圣经》用两种不同的方法。