急求翻译成英语!!!特别着急!!!不要电脑翻译的,谢谢各位了

发布网友发布时间：2022-05-01 21:54

共4个回答

热心网友时间：2023-10-05 08:05

In the Chinese securities market, market investors first retail investors to give priority to, speculative atmosphere are heavier, caused a sharp fluctuations in the market, not to play the role of social resources optimization allocation.In order to rece market fluctuations, regulators consider introcing the development of securities investment funds in as a representative of the institutional investors, securities investment fund to able to use its professional, capital and information three advantages, to the value investment and rational investment concepts into market, seek value regression, rece the wild swings in the stock market, the stability of securities market, make the stock market can be better is the entity economy service, this is financial regulatory vigorously develop securities investment fund purposes.With the scale of the securities investment fund market, market volatility is reced? This article mainly from the securities investment fund open behavior and stock price fluctuation examines the relationship between study and hope this paper can for the conclusion of the Chinese securities market sound and sustainable development provides some reference suggestion, has the very realistic significance.
This paper first on the issue of domestic and foreign relevant research respectively from the theoretical and empirical Angle were summarized, know to there this problem does not draw the same conclusion, the debate are still in progress. Then the securities investment fund trading appeared in the process of short-sighted, herding effect, positive feedback trading strategy and manipulate behavior a series of theory are discussed, based on the analysis of the above theory, the article points out the securities investment fund open behavior for small and medium-sized investors have adverse effect, no have stability the role of the market. Combined with the actual conditions of our country securities market, were considered the grail blue chip and the characteristics of small and medium market value stocks, investors and the risk preference, careful analysis of securities investment funds in the stock market of our country, the role of, the author proposes the overall level of hypothesis: China fund position behaviour did not have stability the role of the market and the indivial on the two hypotheses: fund holding a blue chip stock price stability of effect, but hold market value stocks and stock price but increased the volatility.This paper put forward for the whole of the hypothesis, use the time series data tested, by means of the regression analysis method, the least square method that the relevant coefficient, and the results show that all the fund open behavior and the stock market fluctuations of the whole show positive correlation, and has certain significant, but significant is not very strong, it is illustrated that the market with the position of the proportion of the fund rise or fall will appear a certain degree of go up or down.
For indivial brought forward assumption, respectiely on grail blue chip and small and medium-sized market value stocks tested, use the panel data regression, and concludes that the fund holding blue chip without adding stock price, achieve the purpose of the stock price stability, but to fund and indivial stocks and its market value held stock price of the relationship between the inspection results show, the fund holding ratio and small and medium-sized market value stocks price fluctuation present a strong positive correlation, and significantly stronger.According to the overall inspection analysis, the fund that open on the whole have stability behavior not the role of the market, because the fund position blue chip although have stability stock price role, but in small and medium-sized market value fund on indivial stocks open behavior intensifies the stock price fluctuations. So the empirical results support the based on theoretical analysis hypothesis.
Based on the analysis and test results, in combination with the actual situation of the securities market, this paper puts forward the need to further perfect the system of the stock market conditions and ecological environment, to change the securities investment fund current evaluation methods and the evaluation index, further strengthen trade supervision, improve information disclosure system, raise the quality of listed companies and management performance and so on a series of policies and proposal, the hope can provide some reference and guidance.

手工翻译的，我是英语教师。

热心网友时间：2023-10-05 08:06

Market investors in China's stock market, initially to retail investors, speculative atmosphere is relatively heavy, causing volatility in the market did not play the role of the optimal allocation of social resources. In order to rece market volatility, the regulatory agencies to consider the introction of the development of securities investment funds on behalf of institutional investors, hoping securities investment funds to three major advantages to be able to introce the concept of value investing and rational investment market by virtue of their professional, financial and information seek the value of the return, rece the volatility of the stock market, stabilize the stock market and the securities markets are better able to service for the real economy, this is the initial purpose of the financial regulators, is vigorously the development of securities investment funds. With the large-scale securities investment funds into the market, the degree of market volatility than lower? In this paper, an empirical study from the relationship between the positions of the securities investment fund behavior and stock price volatility, the conclusions in this article provides some reference to the recommendations of sustainable development for the health of China's securities market, with very practical guidance significance.
The first at home and abroad on this issue from a theoretical and empirical point of view are reviewed, understand that this issue did not draw the same conclusion, the debate is still underway. Went on to appear in the course of trading of the securities investment fund short-sighted behavior, herding, positive feedback trading strategy as well as manipulation of a series of theories are discussed, based on the above theoretical analysis, pointed out that the acts of the positions of the securities investment fund for small investors have an adverse impact, did not play a role in stabilizing the market. Combined with the actual situation of China's securities market, consider the characteristics of blue chip companies and small and medium capitalization stocks, and investors' appetite for risk, a careful analysis of the role of securities investment funds in China's stock market, respectively, the overall assumptions: the behavior of the fund's holdings in China did not play a stabilizing role of the market and indivial on two assumptions: The fund holds a blue chip play the role of stable stock prices, but holders of small and medium capitalization stocks has exacerbated the stock price volatility.
Assumptions on the overall use of time-series data to an empirical test method of least squares regression analysis method to draw the correlation coefficient, the results show that the positions behavior of all funds showing a positive correlation between the overall volatility of the stock market and to have some significant, but significant, is not very strong, indicating that the market will to a certain degree of rise or fall with the increase or decrease of the proportion of the fund's holdings. For the assumptions made on the indivial, respectively, for blue chip companies and small and medium cap stocks an empirical study using panel data regression, come to the Fund to hold a blue-chip exacerbate stock price volatility, to achieve the purpose of stabilizing the stock price volatility, but for the Fund to hold a primary and secondary The market value of stocks and their stock price volatility relationship, test results show that the fund's top holdings showing a strong positive correlation between the price volatility of the small and medium capitalization stocks, and significantly stronger. Combination of tests and analysis, on the whole of the acts of the fund's holdings as a whole did not play a stabilizing role of the market, because the fund's holdings blue-chip stable stock price, but the behavior of fund positions in small and medium capitalization stocks exacerbated the volatility of stock price . The empirical test results support the hypothesis put forward based on the theoretical analysis.
According to the results of the analysis and testing, combined with the actual situation of China's securities market, this paper proposes the need to further improve the system of stock market conditions and ecological environment, change the evaluation method and evaluation of securities investment funds existing to further strengthen the trading supervision, improve information disclosure system, improve the quality of listed companies, and business performance and a series of policies and proposals, and hope to provide some reference and guiding role.

热心网友时间：2023-10-05 08:06

In China the stock market, investors initially to retail investors, the speculative atmosphere is relatively heavy, caused the sharp fluctuations in the market, did not play the role of social resource allocation optimization. In order to rece the market fluctuation, regulatory considerations into development to securities investment funds on behalf of the institutional investors, securities investment funds can hope that by virtue of their own professional advantage, capital and information three, to the value of the investment and the introction of the concept of rational investment market, seek the return value, reces the stock market volatility, the stability of the stock market, so that securities market to better serve for hypostatic economy, this is the financial supervision of vigorously developing securities investment fund 's original purpose. With securities investment fund large-scale market, market volatility is it right? Reces? This article mainly from the securities investment fund positions, behavior and fluctuation of stock price an empirical study on the relationship between the conclusion of the article, hope to the healthy and continuous development of China's securities market provides some reference suggestions, have very real direct sense.

In this paper, firstly the related study on this issue from both theoretical and empirical perspectives are reviewed, understood at present to this problem did not draw the same conclusion, debate is still ongoing. Then on the securities investment fund transactions appear short-sighted behavior, herding effect, positive feedback trading strategy as well as the manipulation of a series of theory are discussed, based on the above theoretical analysis, pointed out that securities investment fund positions on the medium and small investors have a detrimental effect, did not play a stabilizing role of the market. Combined with the actual situation of our securities business, respectively, considering the blue-chip market and small and medium-sized market shares characteristics, as well as the investor's risk preference, a careful analysis of the securities investment fund in China s stock market in the role, respectively, put forward overall hypothesis: our funds behavior did not play a stabilizing role of the market and the indivial two hypotheses: fund holding blue chips to stabilize stock price effects, but with small and medium-sized stock market but increase the volatility of stock price.

In this paper, the whole proposed hypotheses, using time series data to test empirically, by regression analysis method, by using the method of least squares to draw the correlation coefficient, the results showed that all the fund positions, behavior and stock market overall fluctuation shows a positive correlation, and have a certain significance, but was not very strong, description market with the proportion of funds holdings will rise or fall there will be a certain degree of up or down. For the indivial on the proposed hypothesis, respectively for the blue-chip market and small and medium-sized market shares of the empirical testing, using panel data regression, the fund holds the blue-chip did not exacerbate volatility, reached a stable stock price fluctuations, but to fund small and medium-sized stock market and the volatility of the test results showed that, the fund shareholders and small and medium-sized stock market price fluctuations showed a strong positive correlation, but also significantly stronger. According to the overall analysis, description of funds behavior overall did not play a stabilizing role of the market, because the fund positions blue-chip although stabilize stock price effect, but the fund in the small and medium-sized market on the stock holdings increased the volatility of stock price. Therefore, the empirical results support the proposed hypothesis based on theoretical analysis.

Based on the analysis and testing results, combined with the actual situation of our securities business, this paper suggests the need for further improvement of the stock market system condition and zoology environment, change of securities investment funds of the current evaluation methods and evaluation indicators, to further strengthen market supervision, improve the information disclosure system, improve the quality of listed companies and operating performance of a series of policies and suggestions, hoping to provide some reference and guidance.

热心网友时间：2023-10-05 08:07