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   abnormal return 在 数学 分类中 的翻译结果: 查询用时:0.012秒
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abnormal return
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  超额收益率
    Fourth part distinguishes the residual of estimative model, and set up 101 regression models by single-factor model which derive from CAPM; analyzes the reaction to right offer when right offer price is higher and lower by the model by CAR(cumulative abnormal return), and takes the reaction of announcement to the test of significance approach to compare the significance of them.
    并运用以CAPM模型为基础衍生出的计算模型──单一指数模型,建立了101 个回归方程,进行累计超额收益率(CAR)分析,分别针对偏高和偏低的配股价格分析我国上市公司配股的公告效应,并对公告效应引起的超额收益率进行显著性检验,进一步比较两者的公告效应有无显著异常。
短句来源
    The result proved that there is significant abnormal return in announcement day no matter what the right offer price is higher or lower and there is significant different reaction between the higher price and the lower price.
    实证结果表明无论配股价格偏高或者偏低,配股公告均在公告的当天对股票价格产生了显著的负超额收益率,并且配股价格偏高和配股价格偏低时的公告效应存在显著差异。
短句来源
    This paper empirically studied the market reaction of the split share structure reform and find the market has significant positive abnormal return and abnormal trading volume.
    该文运用事件研究法对股权分置改革这一特殊事件的市场反应进行了实证研究,发现市场对这类事件有显著为正的超额收益率和超常交易量反应。
短句来源
    This paper also analyzed the factors which affect the reaction of abnormal return, and we find that the percentage of bonus shares in the reform plan, the market value of tradable shares, the stock price, the special commitment of non-tradable shareholders and the supporting rate of tradable shareholders to the reform plan are the main factors.
    文章还对超额收益率反应的影响因素进行了分析,结论是股改方案中的送股比例、流通市值、股票价格、非流通股股东的特别承诺以及流通股股东对股改方案投赞成票的比例是影响超额收益率的主要因素。
短句来源
    Among these factors, the percentage of bonus shares, the stock price and the special commitment have significant positive impacts on the reaction of abnormal return, while the market value of tradable shares and the supporting rate of tradable shareholders have significant negative impacts on the reaction.
    其中,送股比例、股票价格和特别承诺对超额收益率的影响显著为正,而流通市值和流通股股东投赞成票的比例对超额收益率的影响显著为负。 在对全面股权分置改革的研究中,文章还从市场涨跌状况和市价高低两个角度分析了股改时机选择的问题,认为在市场上涨和市价较高时存在较为理想的股改时机。
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  “abnormal return”译为未确定词的双语例句
    The Event-study Methodology is adapted to make analysis on Cumulative Average Abnormal Return (CAR) of all samples, of samples in Shanghai market and of samples in Shenzhen market respectively.
    第三章对外资并购的股价反应进行实证分析。 主要采用事件分析法分别对外资并购全部样本、沪市样本及深市样本的累计超额平均收益进行实证研究。
短句来源
    Then the author introduces the event-study method and study announcement effect of Chinese convertible issuing. The paper point out that the announcement effect is positive, but (-1, 0) and (0, +1) cumulative abnormal return is not significant. Only abnormalreturn of day +1 is significant in 10% significant level.
    然后作者简单介绍了本文使用的主要方法之一—事件分析法,并使用事件分析法计算得出,我国可转换债券发行的公告效应为正,特别是+1日的超额收益显著异于O,(一1,0)、(0,+1)两日累计超额收益均为正,但不显著,这一结果与美国英国的研究结果存在较大差异。
短句来源
    Chapter 3: Stat. Analysis on the cumulative abnormal return of ST company.
    第三章对ST类股票在被实施特别处理期间的累积超常收益进行了统计分析。
短句来源
    The return seasonal effect means the abnormal return related with season in the stock market. As it acts against the efficient market hypothesis, the investors and managers in financial markets have paid attention to the return seasonal effect.
    季节效应是指与季节相联系的股票市场非正常收益,由于它在很大程度上破坏了市场有效性的假说,因此对季节效应的研究一直备受国内外金融市场的投资者和管理者的关注。
短句来源
    On further analysis we get 5 hypothesizes for empirical research: IPOs positively relate with GDP, total society fixed asset investment, stock exchange volumes, negatively with first day abnormal return rate and stock exchange amount.
    对这些因素的进一步分析形成本文实证研究的五个假设: IPO数量与GDP变动正相关; IPO数量与社会固定资产投资总额变动正相关;
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  abnormal return
The unconditional probability of abnormal return is estimated by the EM algorithm.
      
This paper investigates the determinants of leveraged buyout activity through the use of an abnormal return premium from the time of the first announcement through the final trading day.
      
Specifically, the issuance of SEOs with warrant-based compensation has a significantly less negative impact on abnormal return performance than the issuance of SEOs with cash-based compensation.
      
The 'after-transaction cost' abnormal return from the short strategy is about 0.5% for the period 1946-94.
      
It concludes that tests which use the announcing firm's abnormal return to proxy for the information signal generally overstate the significance of information transfer due to cross-covariation of regression disturbances.
      
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This paper empirically examines the impact of the listing of corresponding A shares on Ⅱshares. Using standard cvent methodology to examine the daily abnormal returns around thedual listing date shows that the dual listing has a negative ellect on returns. this is consistentwith previous studies although satisfactory explanation has not been offered.

本文就相应的A股上市对H股的影响作一经验研究.利用事件分析的标准方法考察了双重上市日期前后的每日异常回报,表明了双重上市对回报有负的作用.虽然这一结果迄今未能获得令人满意的解释,却与前人研究的结果相一致.我国国有企业,通过H股的发行,虽然达到了吸引外资的初始目标,但鉴于本文的研究结果,即随着相应A股日后在国内上市而给H股带来负面效应,将会使H股的发行更为困难.这一可能的后果是不容忽视的.

This paper investigate the presence of abnormal returns through the use of trading strategies that exploit the predictability of short and medium run stock price movements. Using sample stocks from Shanghai Stock Exchange and Shenzhen Stock Exchange from 1995 to 2003, we find that both momentum and contrarian profits can be observed.Additionally, the balance between the momentum and contrarian effect is correlative with market condition, momentum effect is stronger in the bullish market, and contrarian...

This paper investigate the presence of abnormal returns through the use of trading strategies that exploit the predictability of short and medium run stock price movements. Using sample stocks from Shanghai Stock Exchange and Shenzhen Stock Exchange from 1995 to 2003, we find that both momentum and contrarian profits can be observed.Additionally, the balance between the momentum and contrarian effect is correlative with market condition, momentum effect is stronger in the bullish market, and contrarian effect is stronger in bearish market. Our result show that profits from the trading strategies cannot be accounted for by a simple adjustment for beta - risk, investors' different reaction to firm specific information and common factor is an good explaining factor for the source of momentum and contrarian profits and some interesting characteristics of china stock markets.

本文采用沪深两市1995年前上市的股票作为样本,发现我国股市中也存在明显的动量和反转盈利,且两种效应的强弱与大盘走势相关,当市场为牛市特征时,动量效应明显强于反转效应;当市场为熊市特征时,则反之。经典的CAPM模型无法解释动量和反转盈利的来源,检验表明投资者对不同类型信息的不同反应方式,可以很好解释我国股市中的动量和反转盈利,利用上述检验结果还可以解释我国股市中许多有趣的特征。

Since early 2002, Shanghai and Shenzhen stock exchanges began to publish the disclosure dates of periodical reports scheduled by the listed companies. This study examines whether such dates contain information useful to the investors. We find that the earlier the scheduled disclosure dates, the higher the abnormal returns when the exchanges publish these dates. The market's responses can be explained by subsequently disclosed earnings performance. We also examine the cross-sectional variations of market's...

Since early 2002, Shanghai and Shenzhen stock exchanges began to publish the disclosure dates of periodical reports scheduled by the listed companies. This study examines whether such dates contain information useful to the investors. We find that the earlier the scheduled disclosure dates, the higher the abnormal returns when the exchanges publish these dates. The market's responses can be explained by subsequently disclosed earnings performance. We also examine the cross-sectional variations of market's responses. The responses are weaker for firms that have announced "good news" performance warnings and large firms. However, the information content of the scheduled dates is not preempted by the "bad news" warnings announcements, suggesting such information confirms the "bad news" warnings announcements.

沪深两交易所从2002年初开始对外公布上市公司向其预约的定期报告披露日期,本文研究了这一日期是否包含对投资者有用的信息。我们发现,在交易所公布预约日期时,公司的预约披露日期越早,则其异常回报越高,反之则低。市场的这种反应可以用随后公布的实际会计业绩好坏加以解释。我们还考察了市场的这种反应在横截面上的差异,对发布过”好消息”的预警公告及规模较大的公司,市场的反应程度较低;同时还发现预约披露日期的信息含量并未被”坏消息”的业绩预警公告所取代,这说明预约披露日期对“坏消息”的预警公司起到了进一步的证实作用。

 
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