收益率

Sometimes does have relationship with them and sometimes does not have, affects when the direction the timing negative; The asset structure has the remarkable influence to the ROA; Produced assets, the total asset scale mainly lead to positive affect to manage achievement, but sometimes, in the different industry existence scale uneconomical phenomenon, will appear the negative influence; The revolving property and the consumptive property produce negative influence to manage achievement; The sales rate of incensement have no remarkable influence to manage achievement.

研究发现资产结构对营业收入净利率和净资产收益率的影响因会计年度不同而表现出不同的程度的相关性，有时有有时无，影响方向时正时负；资产结构对总资产报酬率有显著影响；产能性资产、总资产规模对经营业绩总体影响为正，但有些行业存在规模不经济的现象，有时会出现负方向影响；周转性资产和消耗性资产对经营业绩影响为负；销售增长率对经营业绩没有显著影响。

Firstly, the sectional data from 27 companies in communications and transportation industry, which are listed before 1999, are linearly regressed. We find their capital structure and firm performance are irrelated significantly. Then the section data are quadricly regressed, but the result is also disillusionary, which indicates that the capital structure of listed companies has not the best range only with the sectional data from 1999 to 2003. Finally, in allusion to the problems in the securities market and illogicality of the capital structure, we put forward some methods to optimize the capital structure for listed companies from four facts.

文章首先对交通运输仓储行业1999年以前上市的27家公司的截面数据进行线性回归，发现在分析时段1999年至2003年，样本公司的净资产收益率和单位经济增加值与资产负债率之间线性不相关；然后文章又对该行业上市公司的截面数据进行二次函数回归，同样也没有得到令人满意的结果，这说明仅就1999年至2003年五年的截面数据而言，上市公司资本结构不存在最优区间；最后，文章对我国证券市场存在的问题以及该行业上市公司资本结构的不合理性提出了改进的设想，并从四个方面提出了优化我国上市公司资本结构的建议。

There were two great fluctuations and the stock returns were fluctuated,non-asymmetric and leptokurtic,being stable under 10%,5% and 1%.

股价收益率具有显著的波动集聚性，且表现出&尖峰、厚尾、非正态&的特征，在10%、5%、1%临界值水平下均存在显著的平稳性。

Firstly,Shanghai and Shenzhen stock return time series do not follow normal distribution,it presents leptokurtic and fat-tails;secondly,it is characteristic of long memory,non-linear,persistence and Non-periodic Cycle,which are obviously fractal market Features;finally,we discuss the chaotic dynamic characteristics of tow market,witch can prove the fact of fractal market from the side.

首先，沪深股市的收益率时间序列波动不服从正态分布，而是存在尖峰、胖尾和右偏的特征；其次，序列具有状态持续性，统计自相似性，非周期循环长度，等分形特征；最后，对两市的混沌动力学特征进行了初步探讨，从侧面印证两市为分形市场。

The results show three outstanding characters: these two stock markets are closely correlated; the overall day return doesn\'t follow the normal distribution, but it is characterized with leptokurtic and fat tail; the security market return has stable characteristics and multi-fractal characteristics which shown as the long memory, fat tail, scale properties, and variability.

发现上海和深圳两个证券市场的关联程度非常大；中国证券市场中的总体日收益率分布不服从正态分布，而是呈&尖峰态&，并且具有&厚尾&的特征；证券市场收益序列呈现稳态特征与多标度分形特性，表现为长期记忆特性、厚尾特性、标度特性和易变性。

A year ago, everyone assumed that these countries were the same,' said Brian Yelvington, a strategist at fixed-income brokerage Knight Libertas.'Now people are trying to figure out how far Greek should trade from Portugal.

固定收益券商Knight Libertas的策略师叶尔文通说，一年前，人们都以为这些国家全是一样的，而现在大家正努力计算出希腊债券和葡萄牙债券的收益率应有多大差距。

This paper mainly studied the price fixing of derivative securities under the random interest rate model which applied stochastic differential equations on the basis of option pricing theory and the model of derivative securities pricing, several majo

在双因子Vasicek随机利率模型下给出了折价债券满足的偏微分方程和债券定价公式，通过分析到期收益率与远期利率的动态变化过程，推导出双因子Vasicek随机利率模型下折价债券买权和卖权的定价。

Director, Investment Director, securities fund managers, CFP, the main manipulator of an important institution in Beijing, 1999, managee funds amounted billio level,16 years experience in investment. His investment philosophy is to invest in the trend under the band operate and good at tracking the market hot spots, has its own unique analysis and implementation capacity. His excellent ability of forward-looking analysis and grasp the reailience of the market were approved in the investment domain. first-hand experience of the network science and technology concept market, in 2007 the investment income rate up to 300%.

施建民：董事，投资总监，证券基金经理，CFP.1999年任北京某机构主力操盘，管理资金的规模达亿元级别。16年的投资经历，投资理念是趋势投资下的波段操作，善于跟踪市场热点，有自己独特的分析和执行能力，对市场的前瞻性分析和把握市场的应变能力为投资界所认可，亲身经历了网络科技概念行情，2007年牛市的投资收益率高达300%。

Mandra's sale of 12% senior bonds, for example, came with warrants allowing investors to purchase as many as 25,000 shares at $0.10 apiece.

以曼图林业财务有限公司为例，该公司发行了收益率为12%的优先债券，债券附赠的认股权证保证投资者可以每股0.10美元的价格最多购买25，000股该公司股票。

In yield capitalization, the relationship between several year's stabilized income and a reversionary value at the end of a designated period is reflected in a yield rate.

在报酬资本化法中，几年的稳定收益和某一确定期间的期末终值通过收益率予以体现。

Singer Leona Lewis and former Led Zeppelin guitarist Jimmy Page emerged as the bus transformed into a grass-covered carnival float, and the pair combined for a rendition of "Whole Lotta Love".

歌手leona刘易斯和前率领的飞艇的吉他手吉米页出现巴士转化为基层所涵盖的嘉年华花车，和一双合并为一移交&整个lotta爱&。

This is Kate, and that's Erin.

这是凯特，那个是爱朗。