有效市場假設 的英文怎麼說

中文拼音 [yǒuxiàoshìchǎngjiǎshè]
有效市場假設 英文
efficient market hypothesis （emh）
  • 有 : 有副詞[書面語] （表示整數之外再加零數）: 30 有 5 thirty-five; 10 有 5年 fifteen years
  • 效 : Ⅰ名詞（效果; 功用） effect; efficiency; result Ⅱ動詞1 （仿效） imitate; follow the example of 2 ...
  • 市 : 同 「黻」[fú]
  • 場 : 場Ⅰ名詞1 （平坦的空地 多用來翻曬糧食 碾軋穀物） a level open space; threshing ground 2 [方言] （...
  • 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
  • 設 : Ⅰ動詞1 （設立; 布置） set up; establish; found 2 （籌劃） work out : 設計陷害 plot a frame up; fr...
  • 有效 : effective; valid; efficacious
  1. The thesis, somehow, is a summary, which expounds the main contents of traditional portfolio theory ( tpt ) and mpt, also gives a comparison between tpt and mpt ; analyses two aspects of markowitz theory, one is the effects of risk disperses and the demonstration, the other is how to make an optimal portfolio strategy ; researches into capital assets pricing model ( capm ), factor model ( fm ) and arbitrage pricing theory ( apt ) respectively in three parts ; studies another two parts, one is the premise of mpt, which is the efficient market hypothesis ( emh ), the other analyses the behavior finance theory ( bft ) produced in the background of challenging and querying to emt and capm. the thesis finally discusses the researching and applying prospects of mpt in china

    論文對現代資產組合理論與傳統資產組合理論分別進行了分析，並對兩者進行了比較研究，對馬克維茨的均值? ?方差理論從資產組合風險分散效應和最優資產組合選擇兩方面進行了重點分析，對資本資產定價模型、因素模型、套利定價理論進行了一定深度的分析和研究，對現代資產組合理論的前提假設? ?有效市場理論及在對有效市場理論和資本資產定價模型形成挑戰和質疑背景下提出的行為金融理論進行了論述，論文最後分析了現代資產組合理論在我國的研究及其應用的廣闊前景。
  2. We analyse the dispersion of stock returns and have the tests of serial correlation. the results show that the trading mechanism has a significant effect on a number of characteristics of stock returns. first, the distribution of open - to - open returns has greater variance than that of close - to - close returns. second. the serial correlation pattern is quite different in the two return series. the open - to - open returns have negative autocorrelation coefficient, but the close - to - close returns is positive. further, employing an arma ( 1, 1 ) model we find that in the opening. returns exhibit higher residual noise and stronger dependence on past returns, reflecting stronger deviations from the random - walk form of the market efficiency hypothesis

    主要表現為：一，開盤收益序列比收盤收益序列具有更大的方差。二，兩種收益序列的序列相關形式不同，開盤收益序列表現為負相關，而收盤收益序列表現為正相關。而且我們通過arma （ 1 ， 1 ）模型的進一步檢驗，發現開盤收益序列比收盤收益序列具有更大的殘差，更依賴于過去的收益序列，也更偏離於市場有效的隨機遊走形式的假設。
  3. First, in the article, the author analyses the three backgrounds of human capital financial theory - human capital theory, existed financial management theory, the differentice of two rights ' disattachment, and puts forward three postulates of human capital finance theories, there are ratipnal financing principal postulate, continuing postulate, multilateral efficient market postulate. on the basis, the author puts forward human capital owners " financial theory and human capital operators " financial theory, making use of existed financial theories

    在本文中，首先分析了人力資本財務論產生的三大背景：人力資本產生的理論基礎、現有的財務學理論基礎、兩權分離環境的變化，提出了人力資本財務的三大假設：理性理財主體假設、持續經營假設、多維有效市場假設，在此基礎上，借鑒現有的財務理論基礎，提出了人力資本所有者財務論和人力資本經營者財務論。
  4. The embarrassment that a lot of anomalies which cannot be explained by standard finance which preconditions are rational investor hypothesis and efficient market hypothesis displays it ' s limit

    以「理性人假設」和「有效市場假說」為前提的標準金融學對大量異像無法解釋的困窘，表明了其局限性。
  5. On the premise of efficient markets hypothesis, investors of close - end funds can ’ t earn excess risk - adjusted returns according to capm

    在有效市場的前提下，基金的收益滿足資本資產定價模型（ capm ）的假設，無法獲得超額收益。
  6. In the past portfolio modeling work, the single index model has been used continually, which is based on the suppose that securities yield is simple correlation with market portfolio ( or coefficient ft used to describe securities market risk ), but if above suppose is true and if the investment portfolio is effective

    在實際建立證券投資組合時，使用較多的是計算簡單易行的單指數模型。單指數模型是建立在證券收益率只與市場組合（或者衡量證券系統風險的系數）簡單相關的假設條件之上的，但是這樣的假設是否成立，從而據此建立的投資組合是否有效呢
  7. This paper examines the effects of the mechanism - call auction mechanism and continuity mechanism by which securities are traded on their stock returns. firstly, we explain the relational concepts. later, under the market inefficiency hypothesis, we draw into the amihud & mendelson model of price adjustment. because the different market tradings have different assets and these assets are traded in different environments, hence it would be hard to discern differences resulting from the trading mechanism itself from differences due to dissimilarities of securities and environments. we offers to resolve this difficulty by comparing the stock returns in the opening transactions with the price behavior of the some stocks traded at the same exchange during the same period in the closing transactions

    而後，在市場無效的假設前提下，我們引入了amihud和mendelson構建的帶有噪聲的偏調整模型。由於不同的市場交易有不同的證券，而且這些證券又處在不同的環境中交易，因而很難看出排除證券本身以及環境因素后，交易制度對股票價格行為的影響。因此，我們利用同一交易所交易的同一股票在盤整時期的開盤（開盤交易採用集合競價制度）和收盤（收盤價採用連續競價制度確定）數據來比較不同的交易制度對股票收益的影響。
  8. Conduct finance query the effective market hypothesis

    行為金融對有效市場假設的質疑
  9. Second, i make some empirical research on the influence of important policies on investors and explain it with the theory of bf. i also bring forward some policy recommendation that government should make clear their roles and regulation institution should not control stock index directly and should try to reduce the impact of policy on market to the greatest degree. third, i make some positive research on herd behavior

    本論文的前四章首先分析了有效市場假設的含義、理論基礎，指出了其與市場不符的異象；然後提出了行為金融對主流金融理論的質疑，分析了行為金融理論對人類決策行為特點和認知偏差的認識，並運用該理論對異象進行了解釋；最後分析了行為金融的幾個主要理論模型，分別是期望理論、行為資產定價模型和行為金融組合理論。
  10. The stock market in our country is influenced greatly by policy ; individual investors are in a great proportion in this market ; the exchange rate and p / e of stocks are comparatively much higher ; information asymmetry is also very serious. for the reasons mentioned above, the modern finance theory which is based on emh is not a appropriate tool to analyze this market

    對於我國這樣一個素有「政策市」之稱，投資者中個人投資者占絕大多數比重，有著較高換手率和市盈率，且信息嚴重不對稱的新興股票市場，用基於投資者完全理性和有效市場假設的主流金融理論去研究並不是很合適。
  11. 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。
  12. In order to explore the reason of bubbles, we need to analyse the behavior of investors, on the basis of bounded rationality, behavioral finance theories carry out a great deal of psychological experiments and psychological analysis. when the capital includes not only the physical but also the human capital, there are chances for labor productivity changes the trend of decreasing

    由於p _ t是對p _ t的理性預期，希勒檢驗的零假設是p _ t的方差小於p _ t ，多數實證檢驗結果拒絕了該零假設，說明理性泡沫存在或者是有效市場假說不成立，但是也有許多學者對可靠性提出質疑。
  13. The third chapter " essay of emh on chinese stock market " tested the hypotheses for the emh on chinese stock market, presented that stock price and return rate variance and voiatiiity are not stable. the chapter provided some evidence for the non - - normai

    第二章分析了有效市場理論產生的背景，就有效市場理論成立的基本假設進行了檢驗，提出股票價格收益是不穩定的隨機序列，收益分佈不是正態分佈，股票價格收益表現出非性，序列自相關性，異方差性。
  14. With the normativeness and perfection of chinese stock market, the investment ideas have been being in the transition period from value - created mode to value - discovery mode. the investment strategies which come from standard finance which preconditions are rational investor hypothesis and efficient market hypothesis are being questioned. meanwhile, other strategies originated by behavior finance and called behavior investment strategies, are gradually paid attention to by people

    隨著我國證券市場的逐步規范與完善，投資理念由價值創造型向價值發現型過渡，以「理性人假設」和「有效市場假說」為前提的標準金融學作指導的投資策略的實用性受到人們質疑，而以行為金融學理論作指導的行為投資策略日益受到人們的關注。
  15. It shows that traditional finance theory based on the assumptions of normal return distribution, random walk, and independence cannot accurately characterize the price behavior ; while with the hypothesis of fractal capital market, non - normality, fractional brownian motion, and the long - term memory of the financial time series, the behavior of the actual stock price can be characterized well

    研究表明，基於有效市場的傳統理論假設:正態分佈、隨機游動與獨立性並不能準確刻化股票價格行為，而基於分形市場的理論假設，非正態分佈、分數布朗運動與長期記憶性能夠很好描述實際資本市場的價格行為。
  16. During the last part of the article, it expounds the theory of agency and the efficient market hypothesis and elaborates the relation between accounting report and the two theories

    首先論述了委託代理理論和有效性市場假設理論與信息披露之間的關系，然後提出了會計信息披露的原則。
  17. According to effective capital market hypothesis theory, information disclosure is the source of every problem. information disclosure directly affects the efficiency of securities market

    根據有效資本市場假設理論，信息披露是一切問題的根源，信息披露的規范與否直接影響著證券市場的有效性。
  18. Following the " raising problems - analyzing problem - solving problems " logic, the dissertation studies the effect that dissymmetry information and sham information made to our securities market, to the listed corporations and to the investors on the basis of information dissymmetry theory and effective capital market theory

    論文按照「提出問題，分析問題，解決問題」思路，從信息披露的理論基礎即信息不對稱理論和有效資本市場假設理論入手，研究信息不對稱和虛假信息對我國證券市場運行的影響、對上市公司的影響和對投資者的影響。
  19. First the research background is introduced, then the research premise is analyzed. in this chapter, much attention is paid to how to measure the variables such as the capital cost, firm ' s value and capital structure

    第三章主要闡述了我國的研究背景、分析資本市場達到弱型有效研究假設合理性，並對資本成本、企業價值和資本結構等操作性變量進行了設定。
  20. The forepart theories studying about the investors " behavior in the securities market are the classical financial theories as efficient market hypothesis ( emh ) and modern assets portfolio theory ( apt ). but some abnormal phenomenon in the securities market could n ' t be explained by those classical financial theories. the rational man hypothesis and valid market theory are especially wildly oppugned

    而早期研究證券市場投資者行為主要是有效市場假說（ emh ） 、現代資產組合理論（ apt ）等經典金融理論，但證券市場中的一些異常現象卻無法用經典金融理論來解釋，尤其是經典金融理論中的理性人假設和有效市場理論更受到廣泛質疑。
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