股票市场

Securities Market seems to be a mysterious and bewilderingly changeable place , especially in China , and there is full of magic power .

证券市场，尤其是中国目前的股票市场，似乎总是一个气象万千，云谲波诡的所在，难以琢磨正是其魅力的缘由。

The second part demonstration uses three methods to test the herding and analyses the herding in Chinese stork market by the proper data from June the first, 2005 to June the first 2007, and then uses the investment aggregation intensity model to analyze the fund managers" herding based on the board effect. The conclusion is that the elucidative ability of Shanghai Stork average PE is strong to Herding effect, but the whole equation"s R~2 is small.

它们分别是基于分散度的羊群行为检验，基于CAPM的羊群行为分析和基于ARCH模型的羊群行为分析，得出的结论是：在基于分散度方法进行分析时，排除剧烈羊群行为的可能，但是不排除轻微的羊群行为存在的可能性；基于CAPM和ARCH模型的羊群行为分析中，得出的结论是市场收益率的二次项系数均显著为负，说明中国股票市场存在羊群行为。

The statistical test based on the Shanghai Composite Index suggested that certain technical trading rules should be able to gain stable excess profit in the long run, which could not be explained by nonsynchronous trading, transaction cost and time variation of expected returns. Thus, it can be concluded that the China's Stock Market is not weakly efficient.

对上证指数的统计检验说明一些技术分析规则可以带来长期、稳定的超额利润，而有效市场假定下的异步交易、交易成本和期望时变性都不能完全解释这种超额利润的存在，因此可以得出中国证券股票市场还没有达到弱态有效性的结论。

This paper will assume that there are effective stock market and effective executive market, and the basic hypothesises in Black-Scholes Stock Options Pricing Model are correct. We will discuss the optimal repricing scheme under three situations, one is that the board of the company considers repricing when the price declines straightly ; the second is at the beginning of stock life,the board promises to reprice under some conditions at a certain coming time; the third is when some condition happens at an uncertain coming time, the board promises to reprice the ESO.

本文在有有效的股票市场，也有有效的经理人市场，Black-Scholes期权定价模型中的基本假设是正确的条件下，分别讨论了公司的董事会在股价持续下跌时考虑重新定价、在授予经理人期权的时候就承诺在未来某一确定时刻一定条件下可以进行重新定价和未来不确定时刻一定条件下可以进行重新定价三种情况下的最优重新定价问题。

Those who continue to in sist there is no bubble in China's property and stock market saree i the rlying to them selvesor are too ignorant to acknowledge changes in the market.

那些继续认定在中国固定资产和股票市场上没有泡沫的人，不是自欺欺人就是对对市场变化的无知。

The Theory of Endogenous Growth is detailedly discussed in an untechnical way, and the relevant researches and positive studies home and abroad are reviewed and summed up.

本文简要介绍了西方经济增长理论的演进与不同市场条件下股票市场价格的波动模型，着重对内生增长理论进行了详细和非技术性的阐述，回顾及总结了国内外相关研究和实证检验。

Its stock market is Asia's second largest in terms of market capitalisation.

以资本市值计算，本港的股票市场是亚洲第二大市场。

While emerging countries account for 30% of world GDP, they account for only 11% of world stock-market capitalisation.

当新兴市场国家贡献世界总GDP的30%时，他们对世界股票市场资本的贡献才11%。

Hong Kong's stock market remains one of the world's largest in terms of market capitalisation and the second largest in Asia.

以资本市值计算，香港股票市场仍然是世界上有数的主要市场之一，在亚洲排行第二。

Said the property market like the stock market is also a policy of the city, no doubt do not throw open the land level, land policy changes, will house prices and the supply will have an enormous impact, it is not hard to understand, from the beginning of this year in Beijing began to land and housing extensive discussion of why the impact of price and punishment.

说房地产市场像股票市场也是一个政策市，毫无疑问，不打开土地级别，土地政策变化，将房屋价格和供应将产生巨大的影响，这是不难理解，从今年年初在北京开始的土地和住房广泛讨论的原因的影响，价格和惩罚。

And Pharaoh spoke to Joseph, saying, Your father and your brothers have come to you.

47：5 法老对约瑟说，你父亲和你弟兄们到你这里来了。

Additionally, the approximate flattening of surface strip using lines linking midpoints on perpendicular lines between geodesic curves and the unconditional extreme value method are discussed.

提出了用测地线方程、曲面上两点间短程线来计算膜结构曲面测地线的方法，同时，采用测地线间垂线的中点连线和用无约束极值法进行空间条状曲面近似展开的分析。