收益率

In view of the peaked and fat-tailed characteristics of financial return data distribution and its effect of clustering fluctuation and especially the "leverage effect" of fluctuation on VaR estimates and some efficiencies when estimating VaR with various assumptions of return data distribution,a semi-parameter approach based on EGARCH-VaR model is developed.

在综合考虑了金融收益数据分布的尖峰厚尾特征及其波动集群性，尤其是其波动的&杠杆效应&对VaR估计的影响以及各种假定收益率分布在计算风险价值时存在不足的基础上，提出了基于EGARCH-VaR的半参数方法，并且与正态分布和t分布假设下的GARCH模型的VaR计量方法进行比较，通过实证分析，并利用后验测试，表明基于EGARCH-VaR的半参数方法对风险价值的测度优于正态分布和t分布假设下GARCH模型的VaR计量方法。

In view of the peaked and fat-tailed characteristics of financial return data distribution and its effect of clustering fluctuation and especially the "leverage effect" of fluctuation on VaR estimates and some efficiencies when estimating VaR with various assumptions of return data distribution,a semi-parameter approach based on EGARCH-VaR model is developed.

证券风险是指未来证券价格或收益的不确定性或波动性，证券风险管理的基础和核心是对风险的定量分析和评估·国内外研究表明，金融时间序列通常带有一些明显的特性：金融时间序列的收益率分布存在尖峰厚尾性[1]及其波动具有集群性[2]；股票的价格波动还有&杠杆效应&[3]·这些显著

By employing normal probability plot,R/S analysisand autocorrelation function analysis,we find,with the high frequency data,the return of domestic financial market described by Shanghai index andShenzhen composite index presents the stylized facts,such as fat-tailed distribution,clustering and dependence,which infer that our market can not be regarded as efficientmarket.

利用正态概率作图、R/S分析和自相关函数分析等方法，我们发现在高频数据下（时间长度为15分钟），以上证指数和深成指数为代表的我国金融市场呈现出收益率的&肥尾&、&集聚&和相关性等格式化特征，这说明我国金融市场不能被看成是有效市场。

DBM Fonds Invest seized on a demand for "experience" investments: tangible high-yield financial products that have a "story" to tell and to sell.

DBM Fonds Invest成立Global View基金时，希望搭上投资者对&经验型&投资需求大涨的顺风车。这类金融投资品种通常基于实体、收益率高、并且有诱人的&盈利故事&可以讲给投资者听。

From the valuation point of view, the current fourth quarter of the Shanghai market in recent rolling 12.81 times earnings, 1.96 times市净率, the Shenzhen market, nearly four-quarter rolling for 10.86 times earnings, 1.97 times for市净率; and with the end of last year, the Shanghai market and Shenzhen markets static earnings ratio 59.24 times, 60.48 times have been significantly reduced, valuation has been very clear advantages.

从估值角度来看，目前的第四季度，上海市场最近推出12.81倍的市盈率，市净率1.96倍，深圳市场，近四个季度的10.86倍的市盈率，滚动市净率1.97倍；及与去年年底，上海市场和深圳市场的静态收益率59.24倍，60.48倍已大大降低，估值已经非常明显的优势。

In this paper,based on the reality of our country and a variety of theory,firstly it make a general description and conclude that several types of factors of the international short-term capital inflowing to our country are as follows: the rate of return of the capital market, exchange rates, interest rates at home and abroad, as well as psychological, institutional and other factors.

本文立足于国际短期资本流入我国的现实状况，综合多种理论对影响短期资本流入我国的影响因素进行了一般描述分析，得出影响国际短期资本流入我国的几类因素分别为：资本市场的收益率、汇率、国内外利率差以及其他系统性因素如宏观经济政策制度等。

This chapter introduced traditional investment decision method, such as net present value and inters return rate on the base of function and character about venture capital.

本章在研究了风险投资的含义和基本特点的基础上，介绍了传统的投资决策方法即净现值法和内部收益率法的基本原理。

The "convergence criteria" set out in the treaty called for would-be joiners to meet targets for inflation, bond yields, exchange-rate stability, budget deficits and public debt.

协定规定的&收敛准则&号召希望加入国满足协定有关通货膨胀、债券收益率、汇率稳定、预算赤字和国债等方面的要求。

The "convergence criteria" set out in the treaty called for would-be joiners to meet targets for inflation, bond yields, exchange-rate stability, budget deficits and public debt.

条款中的&欧元趋同标准&要求申请加入国在诸多方面达到规定水平，比如通货膨胀，公债收益率，汇率稳定性，预算赤字以及公共债务。

Secondly, we improve Minimum Semi-variance Model with fitting the joint probability density function of rate of return between futures and spot prices based on wavelet density estimation method for improving goodness of fit for the first time.

其次，为提高估计的精度，对最小半方差模型提出了进一步改进，首次引入小波密度估计的方法拟合期现货收益率的联合密度函数，并与经验和正态核密度估计方法进行了比较。

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。