流动性

The empirical study on the "state-share paradox" finds evidence in two dimensions. First, a regime-switching model with an absorbing state suggests that government policy switches the regime to liquidity black holes.

一个具有吸收态的状态转化模型表明国有股减持政策诱使股市状态转向所谓的"流动性黑洞"；同时，在股市行情大跌时追逐流动性的假说没有足够证据支持，因而股市大跌是整个市场的宏观现象。

COMPOSITE CORPORATION Balance Sheet 20X1- 20X2 (in $ millions) Assets Current assets: Cash and equivalents Accounts receivable Inventories Other Total current assets 20X2 $140 294 269 58 $761 20X1 $107 270 280 50 $707 Liabilities and Stockholder's Equity Current Liabilities: Accounts payable Notes payable Accrued expenses Total current liabilities 20X2 20X1 Fixed assets: Property, plant, and equipment $1,423 $1,274 -550 -460 Less accumulated depreciation Net property, plant, and equipment 873 814 Intangible assets and other 245 221 Total fixed assets $1,118 $1,035 $213 $197 The assets are listed in order 50 53 by the length of time it223 205 normally would take a$486 $455 firm Long-term liabilities: with ongoing operations to $104 Deferred taxes $117 Long-term debt 458 convert them into cash.471 $562 Total long-term liabilities $588 Stockholder's equity: Preferred stock $39 $39 Common stock ($1 per value) 55 32 Capital surplus 347 327 Accumulated retained earnings 390 347 Less treasury stock -26 -20 Total equity $805 $725 Total liabilities and stockholder's equity $1,879 $1,742 Clearly, cash is much more liquid than property, plant and equipment.

Total assets $1，879 $1，742 美国联合公司的资产负债表美国联合公司资产负债表 20X2 和20X1 (单位：百万单位：单位百万)资产流动资产：现金及现金等价物应收帐款存货其它流动资产合计固定资产：财产，厂房和设备减：累计折旧财产，厂房及设备净值无形资产及其它资产固定资产合计 20X2 $140 294 269 58 $761 20X1 $107 270 280 50 $707 债务负债债务和股东权益债务流动负债： 20X2 20X1 资产排列的顺序是根据在通$213 $197 应付帐款 50 53 应付票据常情况下企业持续经营将资205 223 应计费用$486 $455 流动负债合计产转化为现金所需要的时间长期负债：长度。长度。显然，现金比财产，厂房，显然，现金比财产，厂房，设备等的流动性要强得多。设备等的流动性要强得多。

Correctional checking formula of melt flow ratio in injection molding was obtained by introducing a correction coefficient β which reflected the complexity degree of mold cavity. The results show that, the maximum flow ratio of 486 can be obtained when injection pressure ranges from 150 MPa to 160 MPa in Archimedes spiral mold for PP, while maximum flow ratio of 419 can be obtained when injection pressure ranges from 160 MPa to 170 MPa for PE. There is a local fluctuation phenomenon for flow ratio and corresponding injection rate in square spiral mold when injection pressure of 100, 120 and 150 MPa for PP and 130, 140 MPa for PE are reached respectively,and this phenomenon is more serious for good fluidity of melt. The average flow ratio in Archimedes spiral mold is 6% larger than that in square spiral mold for PP, and 4% for PE, the average flow ratio of PP is 19% bigger than PE in Archimedes spiral mold, and 15% in square spiral mold. The influence of the cavity profiles on the melt flow ratio is more significant for good fluidity of melt.

研究结果表明：在阿基米德螺旋线模具中，PP在注射压力为150~160 MPa时取得最大流动比485，PE在注射压力为160~170 MPa时取得最大流动比419；在方形螺旋线模具中，PP在注射压力为100，120和150 MPa，PE在注射压力为130和140 MPa时流动比及所对应的注射速率出现波动，且流动性好的熔体波动更为严重；PP在阿基米德螺旋线模具中的流动比均值较其在方形螺旋线模具中大6%，而PE大4%；在阿基米德螺旋线模具中流动比均值PP比PE的流动比均值大19%，而在方形螺旋线模具中PP的流动比均值比PE的大15%；流动性好的熔体受模具型腔轮廓特征影响大。

Central bank's asset structure and public preference influence base money and money multiplier and lead to excessive liquidity funda...

货币当局的资产结构和公众的资产偏好分别影响着基础货币和货币乘数，是导致资金流动性过剩的根源，而消除流动性过剩也须借助转变货币当局资产结构和公众资产偏好来实现。

Result indicates that lowest standard of market liquidity is that bargainer colony of buyer and seller both must have an appropriate proportion.

结果表明，市场流动性的最低标准是买卖双方的交易者群体要有一个恰当的比例，市场达到稳定流动性的时间与描述离开股市交易者的参数有关，通过交易制度对交易者群体参数的影响，可实现对市场过程的控制，最后给出仿真计算。

The effect of activated barite with different particle sizes on the viscosity of high density drilling fluids was studied.

目前解决高密度钻井液流动性差的方法是从改善猫土一水胶体体系的性质人手，降低高密度钻井液猫度，以改善其流动性。

The liquidity ratio is calculated by comparing liquefiable assets that mature within one month to qualifying liabilities that fall due in one month.

流动性比率的计算是比较一个月内到期的流动性资产量和流动性负债是否匹配。

Banking regulation requires every bank to maintain a minimum liquidity ratio of 'liquefiable assets' to 'qualifying liabilities'.

银行法规要求每家银行要保持&流动性资产&与&流动性负债&的一个最低流动性比率。

This paper examines the relationship between liquidity risk and stock return with the trade data of the A shares in ShangHai Stock Exchange and Shenzhen Stock Exchange.The method used in this paper is two-pass cross-section regression.After decomposing the liquidity risk into systematic liquidity risk and individual liquidity risk,we find that both risks have significant effect on the stock return.

0引言近些年由于长期资本公司的倒闭以及美国国债市场当中刚发行的国债比发行很久的国债(off-the-run)等资产定价异常现象的发现，越来越多的学者认识到流动性是金融资产一个非常重要的特性，流动性资产定价一直是近来金融研究的热点问题，把流动性引入到资产定价模型当中，可以更加全面、准确的对金融资产进行定价。

If the fluidity of the injection was bad, the appearance of the product would berough, brittle, and very difficult to satisfy the actual application. In order to improve thefluidity of the melting-body in full filling condition, different types of lubricant function were used in the paper. Though the metallic soap might enhance the fluidity of themelting-body, the dosage was huge, which might cause drops on the mechanics intensityof the product, and cause magnet to be crisp and easy to crack.

为改善在高填充时熔体的流动性，研究了不同润滑剂的作用，金属皂类可以提高熔体的流动性，但用量较大，会导致产品的力学强度的下降，磁体脆而容易开裂，乙撑双硬脂酰胺可以提高熔体的流动性，复合材料的力学强度也较高。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。