证券市场

From the microcosmic structure of securities market,the problems of stock market liquidity and bargain amount change were analyzed. The dispersed model of amount dynamic state of bargainers was discussed. By neglecting price change,an appropriate proportion of bargainer quantity of both buyer and seller is the lowest standard of the market liquidity. The time achieving stable market liquidity has relation to parameters for bargainer to leave the stock market. Finally,simulation calculation of bargainer quan...

从证券市场的微观结构角度，对股票市场的流动性及交易数量变动问题进行分析·讨论了交易者数量动态离散模型，在忽略价格变动情况下，指出市场流动性的最低标准是买卖双方的交易者数量有一个恰当的比例，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·最后给出股市交易者数量变动的仿真计算

China's securities market is a transitional markets from emerging markets to mature markets.

中国证券市场是一个正在从新兴市场向成熟市场过渡的市场。

The foreign exchange market is the world's largest financial product market, to September 2007 reached $3.2 billion daily trading of securities market, equivalent to the United States, China's stock market is 30 times the size of 600 times daily.

外汇交易市场是全球最大的金融产品市场，到2007年9月日均交易量达到3.2亿美元，相当于美国证券市场的30倍，中国股票市场日均交易量的600倍。

With the market scale enlarging, innovation deepening, market practice standardization and investors' structure improving, value investment has gradually become the main investment concept in the market, furthermore, a company's fundamental has become the key determinant in share pricing, and various pricing models on company's intrinsic value have gradually being used in company's initial public offering. Efficient Market Theory is one of the basic principles in modern finance theory, therefore the judgment on the market efficiency greatly affects the choosing and applying of valuation models.

随着证券市场规模的壮大、市场运行的规范、市场创新的深化、投资者队伍结构的改善以及国际化进程的加快，价值投资逐渐成为市场的主导投资理念，公司基本面开始成为股票估值的重要因素，在公司股票首次公开发行（initial public offering， IPO）中，基于公司内在价值评估的各种估值模型则在实践中逐步得到应用。

In the capital market of our country, bond market, especially the proportion of development of the bond market of the enterprise and stock market is very incongruity, It has been a" short leg" of the securities market of our country all the time.

在我国的资本市场中，债券市场，特别是企业债券市场与股票市场的发展比例很不协调，一直是我国证券市场的一条"短腿"。

The electricity market, as well as security market and future market, are all concentrated bidding merchandize market, so it is necessary to design the effective aggregative index for the electricity market considering the characteristics of power industry.

电力市场与证券市场、期货市场一样，同属于集中竞价的商品市场，根据电力工业的特点和电力市场的根本目标，合理地编制电力市场的综合指数十分必要。

Furthermore, it has been disserted the mechanism comprehensively that equity ownership structure plays a role in confirming elements of corporate governance, developing function of corporate governance, choosing mode of corporate governance.

第二章，从股票市场流动性、股票市场风险和股票市场功能发挥三方面入手，分析了股权结构对股票市场运行机制的影响，同时揭示出股权结构与证券市场的互动关系。

The causes are unreasonable ownership structure effects on corporate in completely changing system, too much attention paid to planned management rather than market mechanism, the unreasonably divided securities, shortage of the corporate seceding system, imperfect rules and immature market subject.

产生这些问题的根源是：公司股权结构不合理使其改制不彻底；政府在股票和企业债券发行制度、证券市场分割、上市公司退出制度等方面重行政手段管理、轻市场优化机制作用；直接融资市场规则不完善、市场主体不成熟。

In the capital market of our country, bond market, especially the proportion of development of the bond market of the enterprise and stock market is very incongruity, It has been a" short leg" of the securities market of our country all the time.

在我国的资本市场中，债券市场，特别是企业债券市场与股票市场的发展比例很不协调，一直是我国证券市场的一条&短腿&。

Based on the investigations into China's state bond market, enterprise debenture market, financial bond market, stock market and the special stock market of RMB, the author raises ten problems which need to be solved immediately in order to develop stock market.

本文在对1992年中国国债市场、企业债券市场、金融债券市场、股票市场、人民币特种股票市场基本情况描述的基础之上，提出当前发展证券市场急需解决的十个基本问题。

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。