投资不足

The hyperbola discount model is utilized to introduce the theory of cognitive bias into the study of the problem. From the perspective of microcosmic, the economic entity enterprises are analyzed. The conclusion is drawn that the enterprises will invest with the impulse when the economics is prosperity, and procrastinate investment lingeringly when the economics is at a low ebb because of the cognitive bias β.

文中利用双曲线贴现模型，将认知偏差理论引入到产能过剩问题的研究中来，从微观视角分析了企业作为市场中的微观主体的投资行为，得出结论：由于存在认知偏差系数β，企业会在经济过热时出现冲动投资，在经济处于低谷时拖延投资，导致产能与市场需求的非同步变化，最终形成产能过剩、产能不足。

On the other hand, due to the marginal utility of capital and liquidity preference of the role of two factors, the capitalists profit expectations for low, interest rates are relatively high, resulting in lack of consumer demand and investment, lack of demand, thereby determining the "laissez faire" will appear the phenomenon of mass unemployment.

另一方面，由于资本边际效用和流动性偏好两个因素的作用，资本家对于利润的预期偏低，而利息率却相对偏高，从而造成消费需求不足和投资需求不足，进而决定了"自由放任"会出现大规模失业现象。

By means of input - output production function, the Constant Elasticity of Substitution production function of rank two is established in this paper, so it provides a method of assessment on the driving function of construction investment to urban economy, which meets the characteristics of urban construction and overcome the limitation of statistical material.

将CES生产函数应用于城市建设经济分析，推导并建立了用于测定城市建设投资的二级常数替代弹性CES生产函数模型，提供了从数量角度研究城市建设投资对城市经济拉动的方法，反应了城市建设的特殊性，克服了城市建设投资统计资料不健全的缺陷，弥补了以往对城市建设投资规律认识的不足。

Through the analysis and investigation on the present teaching program of the representative 26 universities found at present aerobics major course of specialty of physical educationhave many insufficiency: target oretation is imperfect, neglect skill cultivatement; the curriculum content is irregular, insufficiently attention on the physique and the dancer training and the medical care and the movement damage; The development of functional exercises is current tendency, but has the certain difficulty, the main reason is the equipment is insufficient, generally the investment of aerobics major course is insufficient;Curriculum study is difference, the skill study is few, cannot satisfy the demand to cultivate specialist; The teaching appraisal system is not science, mainly take the end test as the major targets or quotas, pay more attention to technical inspection, neglect its synthesis influence to the students' physical and psychological quality, cann't utilize self-comment, the other comments, mutually comments.

通过对具有代表性的26所高校的现行教学大纲的资料分析、调查发现，目前体育育专业健美操课程存在的不足主要体现在：课程目标定位不完善，忽视技能培养；课程内容参差不齐，不够重视形体与舞姿训练、卫生保健与运动损伤知识；拓展功能健身操是当前的一大发展趋势，但是存在一定的困难，主要原因是场地器材不足，普遍存在着对健美操课程的投资力度不够的现象；课程的学时比例差异大，技能学时偏少，不能满足培养人才的需求；教学评价体系不够科学，主要以终结性考试为主要指标，忽视评价诊断特性和过程性，没有将自评、他评、互评综合运用。

In the light of general in kind period authority studies in, the project invests the inadequacy of termless hypothesis, research is real in the investment that has deadline requirement project to investing time period authority evaluates an issue.

针对一般实物期权研究中，项目投资无限期假设的不足，研究实际中对投资时间有限期要求项目的投资期权评价问题。

In chapter 4, I analyse China's SMEs from the angle of the OIL paragigm. With the analysis we find that SMEs have a certain ownership advantages, interiorization and territorialization advantages which foreign investment needed, but there are also a lot of deficiencies which mainly reflected in the financing capacity and small scale, which should be overcomed in the process of foreign investment.

第四章通过OIL理论分析我国中小企业对外直接投资，通过分析我们发现我国中小企业具备一定的对外投资所需要的所有权优势、内部化优势和区位优势，但同时也存在很多的不足，主要体现在融资能力差，规模小等，在对外投资的过程中需要克服。

Therefore, the Fourth Capture analyzed the general condition of Korea introducing foreign direct investment , compared simply the part elements of Korea and China introducing foreign direct investment , revealed the disadvantage of Korea , combinate the advantage and experience of China ,gave the important revelation of Korea introducing foreign direct investment with theory .

因此，本文第四章分析了韩国引进外国直接投资的概况，对韩国和中国关于外国直接投资的部分因素进行了简单比较，从中凸现韩国的不足之处，结合中国的优势和经验，提出对韩国未来引进外国直接投资的重要启示，进而用理论指导韩国引进外资的实践，具有十分重要的理论和现实意义。

First is that it stands factors of limiting FDI spillover; the second is that there are negative effects of FDI. On the basis of the above points, the thesis put forwards to suggestions on improving FDI spillover. Chapter 5 talks about two problems: firstly, the factors of limiting FDI spillover in China; Secondly, putting forward to suggestions on how to improve the quality of utilizing FDI in macro and micro aspects. For the viewpoints above, on the basis of deeply analyzing reasons of unapparent FDI spillover, the thesis points out the suggestions on improving the quality of utilizing FDI.

在论文的第五部分主要讨论了两个问题：第一，外商在华投资溢出效应扩散的制约因素(外资企业的技术供给制约因素，我国吸收外商直接投资溢出效应能力不足，外部环境的制约因素)；第二，从宏观、微观层面对如何提高利用外资质量提出了建议(加大我国外商直接投资特别是大型跨国公司的吸引力度，充分利用外商直接投资的技术外溢效应；在跨国公司进入的产业领域积极培育真正意义上的市场竞争结构，通过竞争的压力迫使跨国公司加强技术的外溢；政府可通过一系列促进措施，为国内企业吸收跨国公司的外溢效应创造良好的外部环境)。

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。

Applicable ta x imposed on transactions in foreign currency contracts; all compensation of any introducing broker or tradingadvisor payable from the Account, which KFT shall promptly deduct from the Account and remit to such person; theamount of any trading losses in the Account; any debit balance or deficiency in the Account; interest on any debit

何经纪人或者投资顾问的所有费用都将从账户中支付， KFT 将及时从账户中扣除并支付给他们；因账户中的交易失败；账户中出现的借方差额或资金不足；账户中出现的借方差额或资金不足而产生的利息，经

Neither the killing of Mr Zarqawi nor any breakthrough on the political front will stop the insurgency and the fratricidal murders in their tracks.

在对危险的南部地区访问时，他斥责什叶派民兵领导人对中央集权的挑衅行为。

In fact,I've got him on the satellite mobile right now.

实际上 我们已接通卫星可视电话了