This paper observes the liquidity trade of open-ended funds based on the investor, purchase and redemption, its relationship with the performance of the funds, and then draws the conclusions as follows:Firstly, the great inconsistence of investors, acceptance of open-ended funds in our country leads to obviously different purchases and redemption.
本文考察开放式基金由于投资者的申购和赎回而产生的流动性交易行为及其与基金业绩的关系,得出如下结论:(1)我国开放式基金投资者对单个基金认同程度很不一致,导致了对不同基金的申购和赎回差异悬殊;(2)投资者热衷于炒作小盘基金,使得其流动性交易远比大盘基金活跃,小盘基金更容易被少数大额持有人操纵而从中牟利;(3)我国开放式基金的业绩与其申购率成正向关系,但与赎回率没有明显的负向关系;(4)国外学者的早期研究发现,投资者倾向于购买业绩好的基金,但却不一定赎回业绩差的基金,这种业绩—流量的不对称性现象在我国基金市场同样存在。
And a new model of normal distribution with liquidity traders was given.
结合中国股票市场数据研究了混合分布假设,并给出了有流动性交易者的正态分布型混合分布模型。
Liquidity Discount of Block Trading in China;
交易所大宗交易流动性折价研究——来自沪深交易所的经验证据
Bargainer Quantity Change of Stock Market and Liquidity Research
股票市场交易者数量变动及流动性
characteristic of a fluid; capable of flowing and easily changing shape.
有流动特性的；可以流动且容易改变形状的。
Trade in active, liquid markets.
在活跃的，流动性中的市场中交易。
Price Impact and Liquidity Impact of Block Trading;
大宗交易对股票价格和流动性的影响
The Impact of Exchange Rate Volatility on International Trade Flows;
汇率波动性对国际贸易流量影响研究
Research on the Relations of the Information Flow, Return Volatility and Trade Volume in Chinese Stock Market;
中国股市信息流、波动性与交易量关系
Empirical Research on the Liquidity, Volatility and Trading Characteristics of China s Stock Market;
中国股市流动性、波动性和交易特征的实证研究
electrically facilitated flow
电易化流动，电促流动
Influence of Noise Traders Quantity Change on Stocks Liquidity;
噪声交易者数量变动对股票流动性影响
Research of securities market liquidity and chaos of bargainer colony change;
证券市场流动性与交易者群体变动的混沌研究
Another dimension of free trade is the mobility of capital and investment.
自由贸易的另一个特点，是资金及投资的流动性。
The Research on Liquidity Effect What the Index-derived Assets Impose to the Underlying Securities;
指数衍生产品交易对标的股票流动性影响研究
The Volatility of International Capital Flows: Measure, Effect and Supervision;
国际资本流动的易变性：测算、效应及管理
Adjustment of Strategies of Foreign Trade under the Conditions of Excess Liquidity;
浅析流动性过剩条件下的对外贸易策略调整
The Information Resource and Communication in the Activities of Dealing with Technological Barriers to Trade;
技术性贸易措施应对活动中信息资源交流初探
US corporate bond market:organization,trading and liquidity;
美国企业债市场的组织、交易和流动性分析
The Block Trading Strategy Based on Shape of Intraday Liquidity;
基于日内流动性模式的大额指令交易策略