股票市场

Both the credit and money markets became frozen, while in the stockmarket, computer-driven trading models that had worked for years suddenly failed.

信贷市场和货币市场同时告急，已在在股票市场上运转数年的计算机驱动交易模式也突然失灵。

Empirical evidence in this paper shows that the price of A shares in Shanghai and Shenzhen Stock market is inconstant with the random walk model, and that low-dimension deterministic chaos process are found in the time series of Shanghai A shares index with a Correlation Dimension of 1.4, which means that the degree of randomness is lower than that of grown-up capital markets, and so the lower of the efficiency degree to some extent.

本论文所做的实证研究表明，沪深A股市场价格并不呈随机行走状态，而是存在非线性结构；上海A股市场指数收益率序列存在低维确定性混沌过程，其维数大约为1.4，这一数值远低于成熟资本市场的指标，这表明上海股票市场指数收益率序列随机性低于成熟资本市场。

Thirdly, based on special characteristics of China stock market, EPOs market model is constructed by utilizing information economy and static complete information game theory.

第三，结合我国股票市场的特色，利用信息经济学中的静态完全信息博弈理论，构建我国IPOs市场模型，研究我国新股市场定价存在的问题。

Base on the China's limit order-driven electronic trading system,such factors as the stock price,the depth of market,the probability of informed trading, the fluctuation of stock price,the impact of information and the imbalance of orders will all affect the implicit transaction cost.

4指令驱动制度下的股票市场，隐形交易成本和股价、市场深度、知情交易概率、股价波动、信息冲击与买卖指令的不平衡性密切相关，理论和实证表明：市场深度越大、知情交易概率越小、股价波动越小、信息对股价的冲击越小以及买卖指令的不平衡性程度越低，隐性交易成本就越小。

The measuring methods of liquidity mainly includes: the measuring methods based on the supply and demand theory, Marshall K value and the excess money growth rate, monetarism liquidity measuring methods and etc, at the micro level, market liquidity was mainly reflected by short-term money market interest rates, stock market index yield variance and other indicators.

流动性的测度方法主要包括：基于流动性供求理论的测度方法，马歇尔K值与超额货币增长率，货币主义流动性测度方法等，在微观层面的市场流动性则主要通过短期货币市场利率、股票市场指数收益率方差等指标来反映。

Empirical results show, improved Laplace distribution and asymmetric Laplace distribution are similar for estimating Leptokurtosis, while improved Laplace distribution is better for estimating skewness.In order to analyze the correlation between return distribution and volatility, the thesis uses ARCH-M Models to simulate the return series of China\'s Stock Market and developed markets ao as to discover the relation between investment return and time-varying risk.

在分布和波动相关性建模方面，本文利用ARCH-M族模型来模拟我国股市和成熟证券市场的收益序列，以揭示股票市场中投资收益与时变风险的关系，并对我国股市和成熟市场的风险补偿系数以及投资者风险承受能力进行比较研究。

Developing market-driven economy and especially capital market is a way that SOEs reform will have to take.

资本市场是指为企业筹集长期资金的交易场所，包括股票市场、债券市场等。

The real estate market and the stock market as easily lead to price-fixing behavior, which is outside the real estate market requires government regulation of the reason why.

房地产市场和股票市场一样容易导致价格垄断行为，这是外面的房地产市场需要政府监管的原因。

With the development of the security market, severe IPO underpricing is always a vexed question in our courtry. At the same time, a series of earnings management and financial packaging cases of public companies have been exposed, it pushes the IPO market to a very dangerous position where there is no credibility at all.

我国证券市场发展以来，IPO高抑价问题一直是困扰我国股票市场的重大难题之一，而国内证券市场中一系列上市公司盈余管理和财务包装案件的曝光，使得中国IPO市场出现了诚信危机。

All these have resulted in the structural weaknesses of China's securities market since its inception. The same structural problems can also be found in a company's dividends policy, which range from substandard distribution practices to a lack of consistency in the timing and levels of dividends payment. In 2005, the stock market regulator started to tackle the structural ills of China's securities market and an increasing number of non-tradable shares have been made tradable.

这种同股不同权的问题，是导致我国股票市场发展不完全的关键，反映在上市公司的股利分配上就出现了分配政策不规范、股利支付水平和支付时间随意性较大、股利分配形式繁多、股利政策不稳定等问题。2005年我国证券市场具有划时代意义的股权分置改革全面进行，困扰我国证券市场发展的股权分置问题将得到解决，整个证券市场也将逐步踏上市场化的轨道。

However, as the name（read－only memory）implies, CD disks cannot be written onorchanged in any way.

然而，正如其名字所指出的那样，CD盘不能写，也不能用任何方式改变其内容。

Galvanizes steel pallet is mainly export which suits standard packing of European Union, the North America. galvanizes steel pallet is suitable to heavy rack. Pallet surface can design plate type, corrugated and the gap form, satisfies the different requirements.

镀锌钢托盘多用于出口，替代木托盘，免薰蒸，符合欧盟、北美各国对出口货物包装材料的法令要求；喷涂钢托盘适用于重载上货架之用，托盘表面根据需要制作成平板状、波纹状及间隔形式，满足不同的使用要求。