证券

This paper is based on previous studies of value premium. The sample is from Shanghai and Shenzhen Stock Market, all the A stocks issued before 1999 are included. The paper tries to answer three questions:(1) whether there is value premium in Chinas stock market;(2) whether the value premium is caused by risk premium;(3) whether the value premium is caused by investor sentiment.

在这种背景下，本文在借鉴前人已有研究成果的基础上，选取上海证券交易所和深圳证券交易所1999年1月1日以前上市的全部A股为研究对象，试图研究三个问题：第一，中国股票市场是否存在价值溢价现象；第二，价值溢价是否是由风险补偿引起的；第三，价值溢价是否是由投资者情绪引起的。

Article 28 Where a stock is issued at a premium, the issue price shall be discussed and determined between the issuer and the underwriting securities company, and report to the securities regulatory body under the State Council for approval.

第二十八条股票发行采取溢价发行的，其发行价格由发行人与承销的证券公司协商确定，报国务院证券监督管理机构核准。

Article 2 The "foreign stock exchanges" as mentioned in these Measures means the stock exchanges, securities automated quotation or electronic trading systems or markets established abroad.

第二条 本办法所称境外证券交易所，是指在境外设立的股票交易所、证券自动报价或电子交易系统或市场。

Infineon is listed on the Frankfurt Stock Exchange and on the New York Stock Exchange (ticker symbol: IFX).

现在，公司已经在德国法兰克福证券交易所及纽约证券交易所挂牌上市。

Sound financial reporting is crucial to development of an active and efficient stock market, which in turn provides many benefits to a transitional economy like China in terms of economic efficiency and growth.

财务报告的质量对一个活跃而有效的证券市场似乎是至关重要的，而根据经济效率和增长理论，证券市场的发展对我国这样正处于转轨经济中的国家又能提供许多益处。

Yesterday Shanghai and Shenzhen stock market turnover of 125,700,000,000 yuan and 58.4 billion, representing a significant increase in close again.

昨天，上海证券交易所和深圳证券交易所的1257.0亿元和58.4亿元，占一密切再次大幅增加，市场成交量。

The purpose of the project is to provide the whole centralized trading system for the Shin Kong stockjobber.

该项目主要为新光证券公司提供完整的集中式证券交易系统。

The stock exchange system is the pivotal part which is supporting the core business of the stockjobber.

证券交易系统是支撑证券公司核心业务的关键部分。

At last, the author associates the theory with the fact of stockjobber, and gives the framework the model and the design thinking of the stockjobbers DSS based on Web and data warehouse.

最后，作者以基于Web和数据仓库的决策支持系统理论为基础，并结合证券公司的实际需求提出了基于Web和数据仓库的证券公司决策支持系统的体系结构、并进行了数抓模型设计。

And then, for example broking business in Tontian stockjobber, This paper proposes three aspects of creation to the traditional model, namely, the creation of management model, reconstruction and creation of brokers' model and creation of technical and products developing service model.

证券经纪业务模式的创新应该是内外兼修、全方位的。再次，以天同证券经纪业务为例，对其传统模式提出了三个方面的创新思路：即管理模式的创新、经纪人模式的重构与创新、技术和产品开发服务模式的创新。

According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.

曝气设备的动力效率在叶轮转速为120rpm～150rpm时取得最大值，此时氧利用率和充氧能力也具有较高值。

The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.

稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世，形体几无变化。