股性交 的英文怎麼說
中文拼音 [gǔxìngjiāo]
股性交
英文
intercrural sex-
Bargainer quantity change of stock market and liquidity research
股票市場交易者數量變動及流動性Noise phenomena have been found in various markets. because of securities market ' s fictitiousness and bargainers " depending on stock information, the noise phenomenon in the securities market is very clear
各種市場上普遍存在著噪聲現象，但是由於股票市場所特有的虛擬性和交易者對信息的依賴性，噪聲表現的更為突出。However, speculative futures trading by day traders is posing risks to stock investors by increasing volatility
然而，當日交易者進行的投機性期貨交易加大了市場波動性，給股票投資者帶來了風險。The result of this paper were : 1 ) the market mircrostructure of chinese stock is ' nt market maker, two - part stock can n ' t circulate and the scale of current stock is small, so, filling right effect make dividend event do n ' t diluate the price, the stock price could n ' t reach optimal price ; 2 ) the meanings of bid - ask speed in chinese has been changed, did n ' t reflect the real trade cost, only reflect the possible trade cost, contained desire of price popple, din n ' t belong absolute liquidity again ; 3 ) turnover rate is a liquidity ' s index, speculation ' s index too, which can explain one side of liquidity, but this index is defective in chinese stock market ; 4 ) martin index was decrescent when dividend event occurred, display the liquidity of stock was improved, so, the martin index is compatible index to measure chinese stock liquidity ; 5 ) stock dividend event affect the liquidity in the stock dividend day, stock dividend event can n ' t dividend event in the bulletin day ; 6 ) the quantity stock dividend and trend of stock market was significant factors that affect the liquidity
本研究的結論是： 1 ）中國股票市場的微觀交易結構並不是採取做市商制度，且2 3的股票不能流通，流通股規模很小，存在著股票股利事件后的快速「填權」效應，使股票價格快速回升，股票股利發放事件的稀釋價格作用無法發揮，也就無法達到「最適價格」 ； 2 ）中國股市的買賣價差的含義發生了變化，不再是實際交易成本的反映，只是可能交易成本的反映，因而很大程度上代表了股價的波動意願，並不具有完全意義上的流動性含義。 3 ）就換手率而言，它既是流動性的衡量指標，也是最常用的衡量投機性的指標。換手率指標只能說明流動性的一個側面，在中國衡量流動性是有缺陷的。Firstly, some basic concepts are not clear, such as what is the status of the company under liquidation, how to define the action of the industrial - commercial authority ' s invalidation of the license of the company, whether or not the share holders can sue to disincorporate the company, is it legal to dissolve a company without liquidation, what is special liquidation, under what situation will a company be obliged to disincorporate, who will be responsible for liquidation after the dis incorporation, etc. secondly, some primary legislative principles about disincorporation and liquidation that are adopted in foreign countries are not established in china, such as a company must be liquidated before disincorporation except for acquisition, the company remains valid during the liquidation until it finishes the invalidation registration, an ordinary liquidation must be replaced by a special liquidation under the instruction of the court when there is an impediment or a fraud, the company should apply to the court for bankruptcy when it is found that its debt is over its asset during the liquidation, the number of people execute liquidation can be several or just one, companies applied for annulment shall be judged by the court and must be liquidated, etc. thirdly, china does n ' t have some of the fundamental rules that are specified in the laws of foreign countries, such as the rule of disincorporation registration, the rule that the company should sue to let the court judge for disincorporation if there is a deadlock between share holders, the rule of credit trade - off in special liquidation, the rule that people who execute the liquidation are jointly responsible for compensating the loss of the third party caused by their activities that are illegal or vicious, the rule of special liquidation, the rule of the representation of the people who execute the liquidation, the rule of the court supervising the liquidation in an inactive way, the rule of how long the accounts and documents should be kept after disincorporation, etc. because of the lack in research and legislation, the system for companies leaving the market is highly disorganized, which harmed the interest of the creditors and relevant people, increased the risk of market exchange, damaged the order of the market economy and the ethic of doing business, wasted the resources of the society, and impaired the authority and seriousness of the law
再次，國外立法上的一些基本制度我國沒有，如解散登記制度，股東出現僵局訴請法院判決解散制度，特別清算中的債權協定製度，清算人因違法或惡意對第三人承擔連帶賠償責任制度，司法特別清算制度，清算人的代表性制度，法院消極監督清算制度，帳薄及文件在公司解散后保存法定期限制度等。由於理論研究和立法的不足，造成了我國公司法人退出市場機制的嚴重混亂，損害了債權人和利害關系人的利益，增加了市場主體交易不安全感，破壞了市場經濟秩序和商業道德，浪費了社會資源，削弱了法律的權威性和嚴肅性。文章認為，完善我國公司解散和清算制度，應借鑒和引進發達國家的法學理論和法律制度，統一我國有關解散和清算立法，在基本概念、基本原則、基本制度、基本程序諸方面進行統一規范，填補立法空白，創設法院解散公司制度，廢除行政特別清算制度代之以司法特別清算制度，健全和嚴格違反清算規定的法律責任制度（包括民事責任，刑事責任，行政責任，改變現行行政處罰范圍偏廣，民事賠償范圍偏窄，刑事追究空白太多的不協調狀況） ，從而構築起科學的公司解散和清算制度，使之符合我國經濟生活的客觀需求，符合市場經濟發展的基本方向，並與國外立法通例趨同。Concretely speaking, the stock of listed company, because of its existence free of paper and the electrical trade style, should be registered at the stock exchange and on the register of members ; to the stocks of non - listed company, if they are order stocks, they should be transferred to the pledger with endorsement and also be registered on the register members ; if non - order stocks, they should be transferred to the pledger directly. another one is how t o optimize the register member. the third part expounds the legal effects
因此對有限公司股權質押而言，應移轉股單于質權人佔有；對股份公司股票因其是否上市而不同，對上市公司股票因其存在形式的無紙化及交易的電子化而且是記名性股票，所以需要在法定的證券交易場所和公司股東名冊上進行設質登記；對于非上市公司的股票因其以紙面形式存在，如果是記名股票則需要在股票上進行背書並移轉于質權人佔有，以及在公司股東名冊上進行質押登記；如是無記名股票，則需在證券交易所將股票交付質權人佔有。On the feasibility of dissenter ' s right in stock exchange
股份交換中適用異議股東回購請求權制度的合理性分析A study of transaction clustering in stock market of china based on the time characteristic
基於時間特性的中國股市交易集群性特徵的研究In china the stock exchange is now in general a non - profit - making legal entity with membership system
中國目前的股票交易所通常是會員制、非盈利性的法人組織。As one important part of capital market, second board could satisfy little and new companies " funds need. meanwhile it could promote the adjustment of economic structure by supplying funds for those companies that have the prospect of developing and high scientific and technological content. setting up of second board also provides a way that ventures capital could realize its increase
二板市場通過對具有高新技術含量和高成長性的中小企業提供資本支持，促進其近一步發展壯大，從而實現經濟結構的調整，而風險投資家也可以通過二板市場這個股權交易場所實現風險投資資本的增值，並進而激勵新的風險投資，保證整個風險投資鏈條的循環。Tax effect hypothesis and the tax clientele hypothesis are based on the assumption that the marginal stockholders are primarily long - term investors, but short - term traders dominate china ' s stock markets. since tax exemption for capital gain is not a major consideration in chinese investor ' s decision, we suggest levying, tax on capital gain at appropriate time
除息日股價變動的稅負效應模型和稅收客戶群效應都是以交易主體的長期投資為前提，而中國股市交易主體以短線投資為主，具有很大的投機性，這是我國股市不存在稅收客戶群效應的主要原因。The difference is that domestic mbo is the result of institutional transition, but the overseas mbo is the competitive choice, and in china the price difference in share transactions makes managers have the goal to acquire the profits. this article analyzes the game relationship of mbo in china, and proves that the root caucus of china mbo non - prohibiting for the different behalves between local government and national assets management department, and between the representatives of state stockholders and managers. this paper makes an empirical analysis of the mbo performance of 26 listed companies in china and proves that mbo are beneficial to improve company ’ s performance, and further we analyze the problems, which exist in china mbo, and gives some suggestions, we think that the rational action to mbo is to give proper guides, instead of prohibiting it simply
本文應用委託代理理論、人力資本理論和產權理論等對中西mbo動因進行系統的比較分析，得出結論認為中外mbo具有相同的激勵動因，都是知識經濟時代智能資本獲取企業所有權的企業權力安排形式，不同的是國內mbo是制度轉型的結果，而國外mbo是競爭選擇的結果，同時由於我國mbo存在股權交易價差，管理層具有獲取價差的直接動機;本文運用博弈論的方法對我國mbo 「禁而不止」問題進行分析，分析結論認為國資監管部門與地方政府和國有股東代表與管理層之間的利益差異是導致當前我國mbo 「禁而不止」的根本原因;文章通過對我國26家上市公司mbo並購績效的實證分析，得出結論認為mbo有利於公司績效的改善，進而文章對當前我國mbo存在問題展開分析，並提出幾點建議，我們認為當前對我國mbo的理性做法是適當引導，而非簡單禁止。The absence of relevant laws leads to the following common problems : disorder in organization modes, lack of essential investment tools, illegal methods of attracting funds, insider dealings, manipulation of stock dealing and so on. all these add to the risks in stock market
由於沒有相應的法律規范，私募基金存在組織形式混亂、缺乏必要的投資工具、吸引資金手段的違法性、內幕交易和操縱股票交易價格現象普遍等問題，並加大了證券市場的系統性風險。Consequently, the instutional investors is becoming the main force that has influence on the stock market and the corporate governance. as to china, the structure of share equity is special, a large part of share equity being uncirculating, the individual stockholders dominating the circulating share market, the number of institutional investors in broad sense including the general corporate shareholders being small. part two : the behavior characteristic of instituti
其次由每一機構投資者持有的總股數或某一公司股份較多這個特點抽象出機構投資股東的特徵:兼顧股份的收益性和流動性、對交易成本和交易風險的敏感性、參與公司治理的規模報酬性、交易需求的特殊性以及作為代理人的代理風險性。Significant mergers and acquisition activity as well as private equity transactions are providing a significant boost to liquidity and equity market demand
規模龐大的購並活動以及私募股權交易給流動性增長推波助瀾並且刺激了股市需求。" the selloff demonstrates somewhat starkly the inter - connectedness of stock markets around the world, " said hugh johnson, chief strategist at thomaslloyd global asset management
托馬斯勞埃德全球資產管理公司的戰略顧問休& # 8226 ;詹森說： 「股票交易顯示全球股票市場很有幾分相互關聯性。 」In an ironic coda to big bang, which saw the stock - exchange ' s member firms gobbled up by foreign owners, the lse ? since 2001 a listed company itself ? is under siege from nasdaq, an american exchange, which already owns 25 % of its shares
倫敦證券市場正面臨著「大變革」之後一個戲劇性的結局：由於倫敦股票交易所在2001年自身已經上市，美國的股市那斯達克（ nasdaq ）正虎視眈眈地盯著它，並已經獲得了它的25 %股份。In this essay, firstly the author analyzes the predictability of time series from china ' s stock exchange using three kinds of methods : arma model, neural network model and non - parametric estimation and gives evaluation on their performances while at the same time puts forward some conclusions deserving attention from both stock exchange supervising department and stock traders. secondly, the author examines the assumptions closely on which the above - said methods base and gives a detailed discussion on them, especially using garch model to test quantitatively the stability of china ' s stock exchange, afterwards drawing the conclusion that it is hard to make accurate prediction of price or return rate of china ' s stocks for none of the assumptions fully holds ground. thirdly, taking account of the difference between chinese stock traders as a whole and that of developed countries, the author gives a thorough analysis on the complexity and volatility of its ( traders " ) reaction to information and points out that the intrinsic heterogeneous and volatile reaction to information is an important reason for the almost unpredictability of the price or return rate in china ' s stock exchange
本文首先採用arma模型、非參數模型以及神經網路模型對我國股市時間序列進行研究，對三種方法在分析我國股市時間序列的表現進行評價，並得出了一些對監管部門以及股票交易者有借鑒意義的結論；其次作者對三種模型分析我國股市時間序列的前提進行了討論，特別是利用garch模型對我國股市的系統穩定性進行了量化檢驗，得出了前提難以滿足導致準確預測我國股市價格或收益率困難的結論；第三，考慮到中國股市股票交易者群體與發達國家股市股票交易者群體之間的差異，作者借用行為金融學的理論成果對我國股票交易者對信息反應的復雜性和易變性進行了詳細分析，指出股票交易者對信息反應的異質性和易變性是造成難以準確預測我國股市的一個重要原因，考慮到我國股市以散戶為主導的特性將長期存在，因此將行為金融學的研究結論納入對我國股市時間序列的量化研究具有重要的意義；最後，作者從唯理預測與唯象預測之間差異的角度出發，指出了唯象預測的缺點並對我國股市時間序列的研究方向進行了展望。There are thirteen items, including proper stock index and deposit in security. the study suggests risk control consideration in each contract item
因股指期貨交易標的為指數，採用保證金制度，與股票交易性質與程序有區別，股指期貨應在期貨交易所交易。The merging of ecns and exchanges means that shares will be traded the same way as in london, paris and frankfurt : orders for liquid stocks will be mostly matched automatically
電子交易系統與交易所的合併意味著，紐約的股票交易方式將和在倫敦、巴黎和法蘭克福相同：高流動性股票的買賣指令大部分將自動撮合。分享友人