效率市假 的英文怎麼說

中文拼音 [xiàolǜshìjiǎ]
效率市假 英文
efficient market hypothesis
  • 效 : Ⅰ名詞（效果; 功用） effect; efficiency; result Ⅱ動詞1 （仿效） imitate; follow the example of 2 ...
  • 率 : 率名詞（比值） rate; ratio; proportion
  • 市 : 同 「黻」[fú]
  • 假 : 假名詞1. （按照規定不工作或不學習的時間; 假期） holiday; vacation 2. （經過批準暫時不工作或不學習的時間; 休假） leave of absence; furlough
  • 效率 : productiveness; efficiency; productivity; workpiece ratio
  1. In this paper, the newest empirical test of efficient market hypothesis ( emh ) was done in terms of the empirical test of capital asset pricing model ( capm ). because of the logical relationship between emh and capm, we tried to use a new method to find whether the emh theory is available in china ' s stock market. we did our research on the basis of emh ( efficient market hypothesis )

    本文從資本資產定價模型出發，首先回顧了有效市場假說的理論以及國內學者在這一領域中的研究成果，其次用實證研究的方法檢驗了該模型在中國的適用性，得到的結論認為在目前階段中國股票市場還不適合用資本資產定價模型來確定資產價格，最後對中國股票市場效率不足的原因進行分析並提出政策性建議。
  2. By right of its powerful brand influence and popular enthusiasm, it became a great success, not only in the participation by some good - famed auto supplies manufacturers, but also in the correct guidance of consumption, great reduction of use rate of counterfeit and shoddy products, and promotion of healthy development of automotive after - market in shenzhen

    而「深圳汽車嘉年華車展」便充當了這一角色，憑借其強大的品牌影響力和超強人氣效應，不僅吸引一些在業界有良好口碑的汽車用品類的企業來參展，而且還正確引導車友消費，大大降低了假冒偽劣產品的使用率，有效的促進了深圳汽車後市場的健康發展。
  3. Fama and french wrote an article for the journal of finance in the year of 1992. they thought that p is unrelated to stock return. this view is strongly against the key thought of capm and directly against the efficient market hypothesis ( emh )

    1992年fama和french在《金融雜志》上撰文認為，股票的系數和收益率之間基本上沒有關系，這一觀點抨擊了capm核心思想，並直接抨擊了有效市場假說。
  4. Firstly, this paper makes clear the meaning of stock markets " efficiency through different perspectives, and then introduces the efficient market hypothesis ( emh ) and fractal market hypothesis ( fmh ). as one important part of rational anticipation theory, emh is the foundation of capital market theories, but the linear paradigm of emh does not conform to the stock market realities

    其基本的研究思路是：以有效市場假說和分形市場假說為理論基礎，結合中國股票市場的現實情況（中國股票市場收益率不符合正態分佈，市場屬于分形結構） ，以分形統計學的相關方法為手段，對我國滬、深兩市的有效性進行實證檢驗，力圖對中國股票市場的有效性做出客觀真實的評價。
  5. First, without the constant discipline and strong incentive towards efficiency that landfill charging will provide, it is unlikely that any educational or promotional activities that we hold will achieve and sustain a real change in attitude towards the responsible use of resources that hong kong needs if it is to become a more sustainable city for us all in the new century

    首先，如果沒有因實施堆填區收費所帶來的推動力，促使市民長期自律和提高效率，不論我們做多少教育多少宣傳，也很難使香港社會在珍惜資源方面帶來真正而持久的改變。假如香港要在下一個世紀持續發展，這種心態和態度上的改變是必需的。
  6. After the introduction of basic model for the survey, this paper tries to relaxthe hypothesis of the basic model from such angels as considering the sale services, setting the type of assumed conjecture for rival ' s price change, transforming the form of competition, taking the information asymmetry and transaction cost into account, market uncertainty and change of demand elasticity etc., then draws out two mainstream conclusions as efficiency improvement and anti - competition effect

    本文首先給出理論綜述的基本模型，從引入銷售服務變量，設定零售商的價格猜想類型，改變零售商的競爭方式，考慮信息不對稱和交易成本，以及市場的不確定性和需求彈性的變化等多個角度逐次放寬假設條件，歸納出效率改進或反競爭效應兩大基本結論。
  7. We can declare that china " s security market made great contribution to the development of our fast growing economy and the reform of state - owned enterprise, but it does not mean china " s security market has no weakness or it has reach the stage of maturity

    然而中國的市場經濟尚處于起步階段，證券市場發育不夠成熟，國有資產所有權的行使主體分散，股票種類繁多，流通股比例小，上市公司普遍出現效率低下，造假嚴重的現象。
  8. In this chapter, i try to make some research on securities market in our country with the thought of bf. first, i make an empirical test of prospect theory and find investors are not always risk - aversion. in fact, according to different conditions, they will change their attitudes toward risk

    本文就是較為全面地分析了行為金融的最新發展，對與效率市場假說相悖的市場異象進行了解釋，並運用行為金融的思想以實證研究和定性分析相結合的方法對我國股票市場作了一些研究。
  9. After analyzing the dual - nature of finance resources, the author analysis the issue of financial resources allocation and the allocation efficiency. the paper also highlights the importance of the optimization of financial resource allocation and the improvement of allocation efficiency. pareto optimality is a central concept of new welfare economics, which can be used to judge whether resource allocation is on optimal state in a society

    本文提出了對金融資源和金融資源配置效率的理解，簡要介紹衡量金融資源配置效率的帕累托最優標準，同時將假設前提放寬到我國的市場經濟條件，研究分析影響金融資源配置的現實因素及約束條件，並將約束條件系統化，提出衡量金融資源配置狀態的指標體系。
  10. The firm is a form of cooperation among many resources owners on the wage labor institution. through proper planning and coordination, cooperation within the firm, such as relationship - specific investment and the synergetic use of a lot of resources, can benefit the parties concerned, but these parties are unable to depend on the compelling force of the court to realize cooperative gains. therefore, the performance of the firm as well as the gains of the parties concerned depends on the strategic interactions among these parties

    本文首先通過對企業內的生產與通過市場協調的分散的個人生產進行比較效率分析，揭示了企業內的權力關系現象的根源? ?現實世界的企業的資源提供者之間並不能像瓦爾拉斯的一般均衡理論所假設的那樣在事前締結可由法庭強制執行的完全合約;然後，通過對企業的資源提供者之間的策略互動的均衡分析，揭示了企業內的權力關系現象的本質、作用和形成機制。
  11. Resource gift theory which is as the theory basis to guide the people to search the economy growth will lead to the poorer of the poor country and the richer of the rich country. likewise, the theory cited to the problem of regional industrial economy growth will be bound to further enlarge the regions ’ disparity. after the appearance of the market integration theory, the flow of labor and other resource factor play a weaken role for the regional industrial economy disparity caused by the reason of resource gift

    並針對如上三個假說，選擇非參數生產率指數和paneldata回歸兩種計量經濟分析方法，通過使用1995 ? ? 2003年我國各地區的工業數據，以資本、勞動、效率因子、技術因子、省內及省際市場的消費需求和工業出口水平為解釋變量，以工業增加值為被解釋變量，建立了一個半對數線性paneldata模型，對市場一體化進程對地區工業經濟發展的影響進行了實證的分析。
  12. The chapter 2 presents the object of vertical chain how to choose the theory of vertical organization reasonably on the base of judging agent efficiency, technology efficiency, proprietary right and imperfect marketing in the new system economics. at the same time, the theories on the structure of marketing and g. j. stigler ' s theory of survivor technique is also introduced detailed in theory of industry organization

    第二章，介紹新制度經濟學中有關產業縱向鏈的上下游主體在權衡代理效率、技術效率、資產所有權及市場不完善等因素的基礎上如何理性選擇縱向關系的各種理論假設；同時對產業組織理論中的有關市場結構與企業行為及施蒂格勒的「生存技術」等理論也作了較詳細的介紹。
  13. Then, this paper empirically tested the validation and predictive accuracy of different var risk management model in the domestic financial market. finally, with the analysis of modem financial risk management development trend and the current domestic financial risk management situation, this paper made a prospect for the application of this model in the construction of domestic financial risk management system. through the analysis, the main conclusions are as follows : ( l ) the traditional mean - variance model is the special example of the portfolio selection based on the var risk management model for the case that the returns of the portfolio are assumed to be normally distributed ; compared with the mean - variance model, the var risk management model is more comprehensive and accurate in the measurement of the portfolio risk, so based on the var model, the investors can allocate the asset more effectively. ( 2 ) the var risk management model can provide the timely and comprehensive risk information for the top risk manager, so it is very helpful to the improvement of total risk management efficiency. ( 3 ) based on the var model, the raroc performance valuation approach can reflect the real performance of the portfolio manager and provide the coherent standard for the allocation of risk limitation and the construction of the incentive compatibility constraint mechanism in the financial instiutions

    通過研究分析，本文主要得出如下結論： （ 1 ）傳統的markowitz均值? ?方差模型僅僅是在資產組合收益率正態分佈假設條件下基於var風險管理模型進行資產組合選擇的特例，與均值? ?方差模型中的方差風險度量方法相比， var風險管理模型能夠更全面、更貼切地衡量資產組合的風險，且基於此模型能夠更有效地進行資產配置決策； （ 2 ） var風險管理模型能夠滿足更高層次風險管理者對風險信息的需求，有助於整體風險管理效率的提高； （ 3 ）基於var風險管理模型的raroc績效評價能夠反映資產組合管理人的真實業績，從而為金融機構風險限額的分配和激勵約束機制的制定提供統一的標準； （ 4 ）國內證券市場資產組合收益率服從正態分佈的假設明顯不成立，實證檢驗表明基於資產組合收益率正態分佈假設條件下的方差? ?協方差模型對國內資產組合風險的預測存在較大的偏差，由於文中證明在收益率正態分佈假設條件下基於方差? ?協方差模型進行資產組合選擇的結果等價于markowitz的均值? ?方差模型，因此，均值? ?方差模型對國內資產組合風險的預測同樣會存在著較大的偏差，而半參數var風險管理模型則能夠取得較好的預測衡量效果； （ 5 ） var風險管理模型符合未來金融風險管理的發展趨勢，基於var風險管理模型建立內容提要風險限額內控體系、風險信息披露體系和業績評價體系，並進行金融監管，將有助於國內金融機構內部風險管理方法和外部監管技術跟上國際金融風險管理的發展潮流。
  14. On along using two assumptions in portfolio theory : market efficient and investors are risk - aversion, this thesis constructs a multi - cycle portfolio model and works out the investor ' s investment strategy, with the analysis of investor ' s risk preference and the function of investor ' s risk - aversion and making use of dynamic programming optimization method

    在沿用了標準資產組合理論市場有效率和投資者風險厭惡型條件與假設的基礎上，構造了一個多周期的資產組合模型，通過對投資者的風險偏好的分析，結合投資者的風險厭惡函數，利用動態規劃的優化方法得出了投資者的最優選擇策略。
  15. The paper incorporate closely the exchange rate pass - through and it ’ s behavior in short term. incomplete exchange rate pass - through is an important assumption of exchange rate overshooting and exchange rate overshooting is the background of our disscuss on the degree of exchange rate pass - through. the paper has following conclusion : 1. the main determination of the degree of exchange rate pass - through : the exchange rate elasticity of marginal cost, the sensitivity of mark - up ratio to exporting price, pricing game between the competitior, enterprice innovation and it ’ s efficiecy, mecu cost, sunk cost. 2. there are distinct differences of degree of exchange rate pass - through among industries

    本文將匯率的傳遞彈性與匯率的波動行為緊密結合，匯率的不完全傳遞是匯率短期超調行為的重要前提假設，而匯率的波動行為又是本文探討匯率傳遞彈性的研究背景，主要的結論有: 1 、匯率傳遞彈性的主要決定因素有:廠商邊際成本的匯率彈性和成本加成率對出口價格的敏感度、同一市場不同競爭者價格的博弈行為、企業創新投入及其創新效率、菜單成本（價格調整成本） 、沉澱成本（退出市場的機會成本） 。
  16. Firstly, the conception, the theories and hypotheses of m & a are recapitulated. then, the developing direction of m & a and its circumstance status in our country are discussed, compared with those countries whose capital market are developed, its circumstance restrictions in all round, as well as the case that wuxi first cotton weave factory takes - over of taizhao xinghua cotton weave factory are also analyzed. finally, the view that to build large scope and high efficiency capital market, to cultivate market medi - institutions and to prefect correlative laws are the emphases of m & a circumstance governance in our country is pointed out in this article

    論文在概括企業並購概念、歷史發展及其理論與假說的基礎上，分析我國企業並購發展趨勢及其環境現狀，與資本市場發達國家相比較，闡述我國企業開展並購活動面臨的內、外部環境制約因素，並對無錫市第一棉紡織廠並購泰州興化棉紡織廠的案例進行分析，提出對我國企業並購環境治理應重點放在建立多層次和高效率的資本市場、培育市場中介機構以及完善相關法律方面的觀點。
  17. They all start from their individual rationality to search for the maximization of personal profit. the real destination is not sure be the group rationality, i. e. that securities market realize the efficient allocation of resources. on the contrary, it often cause the irrationality of group for such reasons as imperfection in law, accountant ' s non - qualification, the lack of independence of accountant firms, inefficient supervision reasonableness, i. e. sever distortion of accounting information disclosure damage the investor ' s profit

    反而由於投資者的素質不高、非理性預期和從眾行為；上市公司委託代理機制不健全、治理結構不完善、造假成本與造假收益的嚴重不對稱；會計師事務所獨立性的缺乏、注冊會計師素質不證券市場會計信息披露失真問題研究高;證監會監竹效率和力度不夠等原因所致，博弈的結果是集體的斗理性，即證券市場會i
  18. Although the efficient market hypothesis ( emh ) is the core theory of the pricing efficiency of capital market, emh is " the revolution of rational expectation " in some meaning according to author ' s view

    因此，在某種意義上，有效市場假說是金融領域的「理性預期革命」 ，而預期又是建立在信息基礎上的。第三章較為系統地論述了資本市場效率的核心理論? ?有效市場假說的理論內核。
  19. At present, the researches about pricing efficiency are all based on efficient market hypothesis ( emh ) both at home and abroad. but many researchers do not truly understand emh, and many concepts have not been clarified, even the existence and tenable conditions of emh have not been fully understood

    目前國內外對定價效率的研究均以有效市場假說（ emh ）為基礎，但是許多研究並沒有真正理解emh ，許多概念都沒有澄清，對有效市場的存在性和成立的條件也不甚理解。
  20. Capital market efficiency hypothesis and the efficiency analysis of the chinese capital market

    資本市場效率假說與中國資本市場的效率分析
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