股票回报率

本文以中国股票回报率偏度为研究对象，分析影响其的诸多因素。

In this paper , to study the stock return skewness in China , we try to analyze which factors will affect .

与国内会计师事务所相比，“四大”中国合作所审计的公司的操控性应计利润较低，并与股票回报率、未来收益之间的关系更为显著。

The result shows that the listed companies audited by " Top4 " have lower discretional accruals and more significant relationship with stock return and future profitability .

但市场反应平淡：其股票回报率自宣布消息以来与大盘一致。

The market shrugged : the shares " returns since the announcement match the market 's.

这一时段期间两支股票回报率之间的相关系数接近于零。

19 over this period the correlation between the returns on the two stocks was approximately zero .

苹果公司在2017财年的股票回报率为39%，是标准普尔500指数的两倍多。

Apple shares returned 39 percent in fiscal 2017 , more than double that of the S & P 500 .

他写道：全球经验表明，股票回报率仍和企业的增长与创新紧密相关。

Based on global experience , returns on stocks are still closely correlated with corporate growth and innovation , he wrote .

主要运用套利定价理论和建立因素模型研究我国股票回报率及相关因素，为股市的分析提供一个新的工具。

The factors which obviously influenced the stock return in Chinese stock market are researched from using the arbitrage pricing theory ( APT ) and factor model in this paper .

但他们发现，如果按投资流进行加权，投资者平均回报率仅有6%，远低于股票回报率，比债券回报率也好不了多少。

But , weighted for investment flows , the average investor received only 6 per cent , they found , well below equity returns and not much better than bonds .

并得出实证结论：在中国A股市场，没有充分的证据表明，应计质量能作为一个较为稳定可靠的定价因子来解释股票回报率。

The empirical conclusion is made that there is no sufficient evidence that accruals quality can be regarded as a reliable pricing factor that accounts for return on stock . 6 .

在一篇研究范围涵盖了1965年到2008年时间段的工作论文中，约翰逊和他的同事们发现，僵持对标普500指数代表的大企业的股票回报率没有影响。

In a working paper that covers 1965 through 2008 , he and his colleagues found that gridlock had no effect on the returns of the big companies represented by the Standard Poor 's 500-stock index .

对小盘股（DimensionalFundAdvisors的小公司组合衡量的对象）来说，与国会和白宫在同一政党控制之下的情形相比，如果华盛顿陷入僵持，这些股票的回报率平均要低21个百分点。

Small stocks ( as measured by Dimensional Fund Advisors ' small-company portfolios ) returned an average of 21 percentage points less in years when Washington was in gridlock than they did when Congress and the White House were under common control .

大量的实证证明，股票的回报率并不是服从正态分布，不能满足有效市场假说（EMH）金融理论的假设条件，意味着存在正偏或负偏。

A lot of evidence shows that stock returns are not perfectly normally distributed , can not meet the efficient market hypothesis ( EMH ) assumptions of financial theory , which means that there skewness is positive or negative , not equal to zero .

但股票的回报率却呈现出均值回归的特性。

Stock market returns , however , do tend to exhibit mean reversion .

过去4年，该公司股票的回报率超过160%。

Its shares have returned over 160 per cent in the past four years .

当然，在中国承销股票的回报率要低于其它许多市场。

Of course , underwriting issues in China is less remunerative than in many other markets .

他表示，除金融类股以外，其它股票的回报率仍接近历史高位，这意味着更多的评级下调将会到来。

He says return on equity outside of the financials sector remains close to an all-time high , which implies there are more downgrades to come .

在过去五年，本田股票的回报率已回升至27%，但仍远低于日经225指数82%的回报率。

In the past five years , Honda shares have returned 27 % to holders , lagging well behind the Nikkei 225 Index , which returned 82 % .

日历效应最初在研究股票的回报率时被发现，即某一个特定时间段的回报率显著高于或低于平均水平。

Calendar effects was found in the study of the initial rate of return on equity , which mean that a specific time period rate of return significantly above or below average return .

第一季度，中国国内只有不足5%的股票基金回报率跑赢大盘，原因是基金经理被迫保留比例高得异乎寻常的现金，以应对资金流波动性猛增。

Less than 5 per cent of Chinese domestic equity funds beat their benchmark in the first quarter , because managers were forced to hold an unusually high level of cash to cope with a sharp rise in fund flow volatility .

这个水平仅略高于公用事业及其它乏味股票的回报率，金融机构将不得不用双重承诺来吸引投资者：它们不仅是同行中的佼佼者，而且不太会过个十来年就破产一回。

At that level , slightly higher than what utilities and other boring stocks yield , financial groups will have to lure investors with the twin promise that they are both best in class and much less likely to implode every decade or so .

通过Wind金融资讯系统获取上市公司丰富的信息资源，依据上市公司股价的信息，采用多元GARCH&M模型对上市公司股票回报的波动率进行估计，运用违约风险预警模型获得中国股票市场上市公司的违约概率；

According to information about stock price of listed company from Wind consultative system , volatility of stock return of listed company can be estimated through multivariate GARCH & M model , so the default probability of listed company can be attained by employing the evaluating model in this paper .

这是为何过去5年期间其股票的总回报率高达125%、超过竞争对手如Tod's或LVMH两倍多的原因之一。

That is one reason it has offered a total return of 125 per cent over the past five years , more than twice as much as rivals such as Tod 's or LVMH .

那时日本股票的平均回报率为5%。

The average return on equity was 5 % .

本文研究了体育运动的成绩对投资者情绪的影响，并由此而产生的对于股票市场的回报率的影响。

This study examines the impact of sports success on investor sentiment and stock returns .

在这些例子中，公司资本成本和股票的期望回报率就是一回事情。

In these cases the company cost of capital and the expected return on the stock are the same thing .

基于苹果的毛利率继续上升；存在收入增长机会；并且预期每股盈余以及估值会向上调整，我们认为苹果公司股票的风险回报率仍然很高。

We believe risk / reward remains favorable predicated on gross margin tailwinds , revenue growth opportunities , anticipated upward revisions to EPS and valuation .

我发现，对于相对低估的股票，股票回报率在特质风险下单调递增；对于相对高估的股票，股票回报率在特质风险下单调递减。

I * nd that stock returns monotonically increase in idiosyncratic risk for relatively undervalued stocks and monotonically decrease in idiosyncratic risk for relatively overvalued stocks .

为补偿投资者所冒的市场风险，股票投资的回报率必须高于国库券，高出的幅度即称为股票风险溢价。

The extra return that the overall stock market or a particular stock must provide over the rate on treasury bills to compensate for market risk .

在以往的经济衰退期，美国股票年平均回报率为负15.3%，而十年国库券年平均回报率为正10.4%。

In previous recessions , American equities have delivered an average negative return of15.3 % while ten-year Treasury bonds have delivered a positive return of10.4 % .

众所周知股票的长期回报率等于初始的股息收益率加上股息增长率（会随市场评级而发生变化）。

It is a truism that the long-term return for equities equals the starting dividend yield plus dividend growth ( plus or minus any change in the market 's rating ) .