有效收益率 的英文怎麼說

中文拼音 [yǒuxiàoshōuyìlǜ]
有效收益率 英文
effective yield
  • 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 ...
  • 收 : Ⅰ動詞1 （把攤開的或分散的事物聚集、合攏） put away; take in 2 （收取） collect 3 （收割） harvest...
  • 益 : Ⅰ名詞1 （好處） benefit; profit; advantage 2 （姓氏） a surname Ⅱ形容詞（有益的） beneficialⅢ動詞...
  • 率 : 率名詞（比值） rate; ratio; proportion
  • 有效 : effective; valid; efficacious
  • 收益率 : earning rate
  • 收益 : income; proceeds; profit; earnings; gains; avails; gainings
  1. In the years of errors and corrections respectively, through the empirical analysis on stockjobbing amount and price, it researches there ' s no difference on studied sample and control sample in appointed areas, and the investors of our securities business have no specially attention on these information. on the other word, we validate the corrections of accounting errors have no market conductibility. later, it analysis the reasons

    分別在會計差錯的發生年度和差錯的更正年度中，通過測試和控制樣本的股票交易量、平均超額收益率和累計超額收益率在報表公布日前後各30天的時窗內的檢驗，說明我國證券市場的投資者對這類信息未予以特別關注，即我國上市公司的會計差錯及其更正行為不具有市場傳導效應，並進一步從理論上分析了這種現象產生的原因。
  2. In addition, the author find that the two indices : c / p and e / p are not valid indices to distinguish value stock from glamour stock, and two - dimension indices have better ability to distinguish value stock from glamour stock than one - dimension indices, which is same as lsv ( 1994 ). finally, the evidence of return mean - reverting from this chapter support the ideas of debondt & thaler ( 1985 ) on stock overreaction

    而且作者發現c用和e護指標並不是劃分價值投資組合和魅力投資組合的有效指標。而且二維指標對價值投資組合和魅力投資組合的區分能力高於一維指標，這與lsv （ 1994 ）的結論相同。最後，價值組合和魅力組合在組合形成前後的收益率反轉現象也支持了debondt & thaler （ 1985 ）有關股票市場存在過度反應的觀點。
  3. There is positive abnormal return on tuesday and friday, but negative abnormal return on monday and thursday 6. there is weak monthly effect. there is weak january effect in both market and the joint significance test has reached the 10 % level

    （ 6 ）滬深兩個市場都存在月歷效應，雖然不顯著，但在所得到的回歸結果中，兩個市場在一月份都有負的超額收益率，表現出了一月效應，而且聯合檢驗的顯著性水平達到了10
  4. Using the net assets per capital, the investment return rate, the t - m model, the h - m model, the single factor evaluating model which consists of the treynor index, the jensen index, the sharpe index and the square m index, we evaluate the performance of the twelve mutual funds. and we come to the following conclusions : ( 1 ) after the modification of the risk factor, our mutual funds in the recent one year outguess the market ; ( 2 ) better performance comes from the aid of the government, the improvement of the investment environment and the hard, smart work of the managers especially in the way of selecting some securities in the capital market. ( 3 ) though we make progress, there are still many problems which prevent the further development of our mutual funds such as the devise of the management fee and the characteristics of different funds, all of them divided into the subjective ones and the objective ones

    通過使用投資基金單位凈資產和投資收益率指標、單因素整體績效評估模型，包括treynor指數、 jensen指數、 sharpe指數和業績的m ~ 2測度以及t - m 、 h - m模型對12隻樣本基金進行實證研究，實證研究表明： （ 1 ）經過風險調整后，在最近的一年中，我國證券投資基金的業績總體上優於市場基準組合； （ 2 ）基金業績的提高得益於管理層的重視、投資環境的改善和基金經理的經營，而基金經理的良好業績是通過一定的證券選擇來獲得的； （ 3 ）已成為證券市場上舉足輕重力量的基金在發展過程中雖然取得了一定的成績但其進一步發展還面臨著許多問題，有主觀存在的諸如管理費率的設定、基金風格方面的問題等等，也有客觀存在的諸如證券市場現階段的不完善等等，所以，我們應該抓住《證券投資基金法》問世帶給基金業發展的契機，大力促進證券投資基金規范發展，採取各種措施做大、做優和做強基金業。
  5. On the basis of drawing lessons from the existing research results both at home and abroad, this paper observes the change law of the two financial indexes of nroa and croa from 1997 to 2001, studies the relations between the locations of listed companies and the m & a performance, between the structure of equity of listed companies and the m & a performance, between the industry nature of the listed companies and the m & a performance, between the type of m & a and the m & a performance, and then draws several conclusions that m & a performance is unsatisfactory on the whole, m & a performance of listed companies in eastern china is superior to that of the counterpart in middle or western china, m & a performance of listed companies that the country or the other corporations hold the most share of the listed companies is unsatisfactory on the whole, the growing or mature listed companies can achieve best m & a performance when they implement the m & a horizontally while the listed companies in declining phase may perform the conglomerate m & a the best

    在借鑒國內外已有的研究成果的基礎上，本文考察了並購上市公司從1997年到2001年五年時間內凈資產收益率和主營利潤率兩項財務指標的變化規律，研究了並購公司所在的區域與並購績效、並購公司的股權結構與並購績效、並購公司的產業性質與並購績效、並購類型與並購績效等方面的關系，得出了若干結論： 1 、並購績效從總體上來說是不理想的； 2 、東部上市公司的並購績效要優于中部和西部上市公司的並購績效； 3 、國家股或法人股是第一大股東的上市公司的並購績效不理想； 4 、處于成長性產業和成熟性產業的上市公司發生橫向並購績效最好，處于衰退性產業的上市公司發生混合併購績效最好。
  6. Consequently, i applied the r / s analysis on the composite index of shanghai stock exchange and component index of shenzhen stock exchange from 1996 to 2001, to study the fractal structure of csms. the result of the analysis shows that the returns of the indexes do not obey brownian motion, but follow a biased random walk with hurst exponent being 0. 63 and 0. 65 respectively. hence, we can conclude that the china ' s stock markets are not yet efficient informationally

    本文進一步運用重標極差分析法，分別對進入規范發展階段后的滬、深兩市股價指數日收益率和周收益率進行了分形檢驗，發現上海股票市場和深圳股票市場均具有分形結構，赫斯特指數分別為0 . 63和0 . 65 ，長期記憶周期分別為362天和2犯天，進而得出中國股票市場有效性水平較低的結論。
  7. The following conclusions are summarized from this empirical study ; ( l ) the " expected pretax monthly returns of stocks are positively correlated to dividend yields. investors need higher pretax raturns to offset the disadvantages of dividend tax, ( 2 ) the effect of dividend tax is significant on ex - dividend - day and monthly yield, but the tax effect on yearly yield is not confirmed, ( 3 ) there are other factors affecting stocks " expected returns besides tax during the ex - dividend days

    對紅利徵收所得稅影響投資者我國股利政策稅收效應的實證研究的實際收入，投資者因此需要更高的期望收益以彌補稅收帶來的損失： （ ）股利所得稅對股票除權日和股利支付月份的期望收益率影響明顯，但對年期望收益率的影響沒有得到證實； （ 3 ）股利發放期間，除了稅收的影響作用外，還有其他因素對股票的預期收益率產生影響。
  8. Then through the ecnomical analysis of the performance for rent - seeking of the stock issuing market and the choices of each principle of securities market related to information unsynu estoy, the essay demonstrates the cardinal reason the oringinally issued securities have comparatively high rate of return and concludes that it lies in the system and funtion of china ' s securities market

    通過對股票發行市場的尋租表現、我國證券市場效率和信息披露現狀、市場供求關系與投機行為以及信息不對稱與證券市場各主體行為選擇的經濟學分析，闡明我國證券市場首次公開發行股票具有較高的初始收益率的根本原因在於中國證券市場的制度缺陷和功能缺陷。
  9. 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。
  10. 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。
  11. One is to study the relationship between the share - holding structures of senior supervisor, stock structure etc, and the finance performance of the corporate ; the other is to study the relationship between correlative factors of the corporate governance. in this article, based on the analysis of the relationship between corporate governance and financing performance, the author divide performance into two aspects : roe and tobin ' s q ratio, tries to establish the correlation and regression analysis mathematics model of corporate value and developing ability of the corporate, using statistical software spss10. 0, carry through the correlation and regression analysis, then analyzes the model to study the relationship between corporate governance, corporate value and developing ability of the corporate. this is a beneficial experiment to the research of the relationship between corporate governance and performance

    本文試圖在分析公司治理結構各方面與公司經營財務業績相關關系的基礎上，將公司績效分解為凈資產收益率代表的公司價值和托賓q值代表的公司價值成長能力兩個指標，分別建立公司價值與公司治理結構各影響因素以及公司價值成長能力與公司治理結構各影響因素關系的多元線性數學模型，利用spss10 . 0統計軟體，對之進行多元線性回歸分析，考察它們之間的相關性和回歸系數，並通過擬和出的回歸方程考察公司短期與長期發展能力與公司治理結構的關系，是對公司治理結構與公司績效關系進行研究的一次有益嘗試。
  12. This paper includes five parts. the first is to review the study on the subject ; the second is to discuss the characteristic of chian ' s stock market. the change of money - admitted policy and the questions on the study. the third is to verify the size effect in china ' s stock market by using correlation test and regression test on the bases of four different criterions, each criterion will be applied with two time - series methods. the fourth is to summary the main character of four different criterions, and apply joint test to the criterions that were proved the best concerning the size effect. the illiquidity risk was introduced to the study, the indexes of turn - over rate and the fluctuation of turn - over were used here. however, other factors that may influence the invest return rate as circulating rate and size were also included. according to the result, the size effect will be interpreted. the fifth is to summary the size effect and its explaination, and then to provide some useful invest strategies based on the conc lusion above

    論文分五部分，第一部分對小公司效應的有關研究文獻進行回顧;第二部分我國股票市場的狀況、資金供給政策的變化和我國股票市場實證的相關問題進行論述;第三部分對我國股票市場的小公司效應按照四種不同的規模標準分類，每一種標準均分兩種不同的統計周期分段標準進行實證分析;第四部分小結不同的規模分類、不同統計周期分段的統計結果特徵，然後對小公司效應最明顯的規模分類標準進行多因子聯合回歸分析，這里引入了流動性風險因素，其用換手率和換手率波動指標來衡量，還分別引入了其它影響投資收益率的因子，分別是規模、流通比例。
  13. The interior risk control mechanism in commercial bank is the basis of banking supervision and stability of financial system. we should introduce modern instrument measuring financial risks : var ; take advantage of accurate and overall index measuring achievement : raroc ; form multilayer risk control mechanism with the nature of incentive compatibility constraint ; and boost each branch, each level of institution and each staff to concern bank ' s revenue and risk simultaneously

    銀行內部風險控制機制是銀行監管和金融體系穩定的基礎，通過引入現代金融風險計量工具： var （在險價值） ，利用準確、全面的績效考核指標： raroc （風險調整資本收益率） ，在銀行內部構建起具有激勵相容約束性質的多層次風險控制機制，調動各類部門、各級機構、各個職員的既關心收益又關心風險的積極性。
  14. The article analyses whether the theory of emh market can explain some phenomena on capital market. we provide some evidence for the non - normal, non - gaussian distribution, auto - correlation, non - linear and heteroskedasticity character of stock price

    文章就有效市場假說（ emh ）對現實資本市場的解釋能力進行了分析，發現我國股票市場的股價收益率序列具有非正態性、自相關性、非線性、異方差性等特點。
  15. Because return of chinese security market is non - normal distribution, so we use garch - t model which can describe the time - variation of volatility and the high - peaked and heavy - tailed characteristics of return to calculate var value of market index. from empirical results we know that this model is efficient

    考慮到中國證券市場收益率序列分佈的非正態性，本文使用了既能描述方差時變性又能反映收益率分佈的尖峰、厚尾特徵的garch - t模型計算市場指數的var值，實證結果表明該模型是有效的。
  16. To set a new index system of financial appraisal, some basic factors including operational purposes, subjective, the life cycle of enterprise, etc., must be taken into consideration. the changes of these factors determine the expansion and withdraw of the system. moreover, to design the system framework, the following principles must be abided by : the principle of understandability, the principle of operationally, the principle of cost - benefits, etc. according to the above, we believe that the system framework of financial appraisal should take economic value added ( eva ) as the core index and take the main factors that influence the success of enterprise operation into comprehensive indexes system

    論文的創新處主要體現在：吸收我國企業效績評價指標體系和西方財務評價指標的精華，並在此基礎上，構建適應新經濟時期企業經營環境變化要求、分層次、多因素的企業經營業績財務評價指標體系；提出幾個很有創意的財務評價指標，諸如：知識與智力資產收益率、知識與智力資產貢獻價值增長率、凈資產創利率、負債收益率，相信必將對未來同類研究起到有益的借鑒作用。
  17. Sensitivity analysis to the e ? cient frontier and the optimal solution of the portfolio with lower budge constraint are studied when mean or risk of some security is changeable ; ? the portfolio selection models with the ? xed consumption - income and the continuous - time incomplete information are introduced ? nally

    針對帶有投資資金下界約束的m - v證券投資決策模型，我們對其有效前沿和最優解進行了靈敏度分析，得到了當某一證券的期望收益率或風險發生變化時最優投資組合的有效邊界和最優解的變化情況；
  18. It is desirable for all related insiders and outsiders to discern all potential risk in advance. this paper, with the adoption of special treatment resulted from abnormal financial position as the indicator of financial distress, the univariate variable analysis and multiple variable analysis as the research approach and some financial ratios as variable, tries to find an optimal financial distress prediction model of chinese manufacturing listed companies based on public accounting data. our finding demonstrate that five general financial ratios and three ratios concerning the cash flow have better predicting ability, the erroneous classification ratio are low. these five general financial ratios are earning per share, return on net assets, return on gross assets, growth rate of net profits, growth rate of net assets ; the three ratios concerning the cash flow are net cash flows from operating activities per share, net re - earnable cash flows / current liability, net cash flows from operating activities / net profit

    研究結果表明，在單變量分析中，每股收益、凈資產收益率、總資產報酬率、凈利潤增長率、凈資產增長率這5個財務比率的錯分率較低、預測能力較強；經營活動凈現金流量與凈利潤之比、每股經營現金流量、可重復賺取的現金凈流量與流動負債之比這三個現金流量財務比率對于預測上市公司財務困境具有有效性；多變量分析中，應用費雪判別分析和典則判別分析得到兩個判別模型，在典則判別分析中，應用兩種方法確定所建模型的最佳分界點，檢測證明應用所得兩個判別模型進行財務困境預測的準確率很高。
  19. Conclusions could be drawn out through a positive analysis of some port companies : the factors that have a positive effect on the strategic target are the rate of main business return, the velocity of the assets, while the capital structure and the rate of the increase of the increase of investment have little effect, which illuminate that the port company should focus on the main business to enhance the return of net assets, it also shows that the business of the list port companies is over - concentrated, and should be diversified to lessen the operating risk ; the companies should accelerates the turnover speed of the assets ; the appropriate structure of the assets can bring benefit to a company, but the ultimate approach to enhance the return of the net assets is to look for items with high return ; the sightless investment made the increasing speed of return lag behind the expanding speed of the capital ; and result in no scale economic benefit

    本文通過對部分港口類企業進行計量分析后發現港口企業的資本結構和投資對凈資產收益率沒有顯著的影響，而港口企業收入過分集中。針對未來財務環境發生的變化，本文從戰略財務管理的角度對南京港口集團公司提出以下建議：在投資領域，今後應以綜合物流為契機，專業化與多元化並重；適度發展集團化經營；優化資源配置，提高資產營運效率。在融資領域，要合理選擇融資渠道，降低融資成本，更多關注債務融資；確定合理的資本結構，控制負債風險，建立償債保障機制。
  20. Which illuminate that the shipping company should focus on the main business to enhance the return of net assets, it also shows that the business of the list shipping companies is over concentrated, and should be diversified to lessen the operating risk ; the companies should accelerate the turnover speed of the assets ; the appropriate structure of the assets can bring benefit to a company, but the ultimate approach to enhance the return of the net assets is to look for items with high return ; the sightless investment made the increasing speed of return lag behind the expanding speed of the capital, and result in no scale economic benefit

    本文通過對航運類上市公司進行計量分析后發現航運企業的資本結構和投資對凈資產收益率沒有顯著的影響，而航運企業收入過分集中。針對未來財務環境發生的變化，本文從財務戰略管理的角度提出以下建議：在投資領域，今後應以綜合物流為契機，專業化與多元化並重；適度發展集團化經營；優化資源配置，提高資產營運效率。在融資領域，要合理選擇融資渠道，降低融資成本，更多關注債務融資；確定合理的資本結構，控制負債風險，建立償債保障機制。
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