成份股

50ETF与标的成份股的价格形成过程分析

Analysis of Price Formation of 50 ETF and Its Underlying Component Stocks

本文采用多资产方差分解法分析50ETF与标的成份股的价格形成过程。

The multi-asset variance methodology is used to ? analyze price formation of50ETF and its underlying component stocks .

据ActionAid统计，富时100指数（FTSE100）成份股企业中，有98家使用避税港。

Tax havens are used by 98 of the FTSE 100 companies , according to Action Aid .

上证综指成份股中交易最活跃的股票是中国南方航空（ChinaSouthernAirlines）。按机队规模衡量，南航是中国最大的航空公司。

The most actively traded stock on the Shanghai index was China Southern Airlines , the nation 's biggest carrier by fleet size .

与另一家饱受攻击的富时100成份股公司&英国石油（BP）一样，葛兰素史克也体会到了政治环境是如此的严酷和变幻莫测。

Like BP , another FTSE 100 company under attack , GSK is finding the political climate hard and capricious .

报告称，最近的一项研究发现，在富时100指数（FTSE100）成份股公司中，80%的首席执行官（CEO）有过驻外经历。

It said a recent study had found that 80 per cent of FTSE 100 chief executives had experience of international assignments .

第三，etf可能被迫持有一些有问题的标的指数成份股；

Thirdly , ETF will be forced to holdsome iffy index stocks .

在截至7月份的一年里，富时100指数成份股公司CEO的薪酬总额平均为300万英镑（不计养老金）。

The total package of a FTSE 100 chief executive in the year to July was on average 3m before taking account pensions .

黄金股指数huigoldbugs现在相当于成份股现金流的15倍，远低于过去20倍至30倍的水平。

The Hui gold bugs index of miners stands at 15 times cash flow , way below the 20-30 times it used to trade at .

斯托克表示，一个包括梵蒂冈代表在内的委员会负责筛选股票，这些股票是从斯托克欧洲600指数（stoxxeurope600index）成份股中挑选出来的。

A committee , which Stoxx says includes representatives of the Vatican , screens shares , which are drawn from the Stoxx Europe 600 index .

其次，标的指数成份股进行调整时，ETF的反应可能滞后于其它投资者；

Secondly , when the index stocks are adjusted , the reaction of ETF will lag .

汤姆森金融（thomsonfinancial）的数据显示，过去一个月里，分析师对标准普尔500指数（s&p500）成份股公司的第四季度收益预期已调低近一半。

In the past month , fourth - quarter earnings expectations for companies in the S & P 500 have fallen by nearly half , according to Thomson Financial .

富时100指数成份股、保险公司Admiral在2005年我加入董事会的时候，拟定了一份全部都是女性的入围名单。

Admiral , the FTSE 100 insurance company , ran an all-female shortlist in 2005 when I joined the board .

如果能混上标普500指数（S&P500）成份股公司的CEO干干，知道多少天就能赚回你现在的年薪吗？

If you could bluff your way into an S & P 500 CEO job , how many days would you have to rough it to earn your current annual pay ?

让我们从市场力量谈起这种力量将一名富时100指数（ftse100）成份股公司的白领主管投入中国的监狱。

It helps to start with the market forces that have landed a white-collar FTSE 100 executive in a Chinese prison .

拿恒生指数第二大成份股公司、权重为8%的中国移动（ChinaMobile）来说，尽管该公司占据了中国移动服务市场70%的份额，但它的股价在过去3年却变化不大。

Take China Mobile , the second biggest stock in the Hang Seng , with an 8 per cent weighting . Although the company has a 70 per cent share of the Chinese mobile services market , its shares have traded more or less unchanged for the past three years .

英国职工大会表示，从2000年至今，富时100指数（ftse100）成份股公司主管们报酬的增幅比零售物价指数的增幅高出105个百分点。

The TUC said remuneration for directors of FTSE 100 companies had risen by 105 percentage points more than the rise in the retail price index since 2000 .

综合利用对数周期图方法、Granger因果检验、以及扩展广义自回归条件异方差模型，对随机抽取的10只上证180成份股进行了实证研究。

This paper performs a empirical test on ten stocks which are extracted random from the Shanghai-Security 180-Index through comprehensively using the GPH method , Granger causality test , and the extended GARCH model .

摩根士丹利（MorganStanley）的策略师娄冈（JerryLou）指出，直到3月份，分析师才开始预计H股成份股公司2009年的收益会下滑；现在他们的普遍预测是下滑1.4%。

Morgan Stanley strategist Jerry Lou points out that it wasn 't until March that analysts began to expect H-share earnings to fall in2009 ; their consensus forecast is now for a drop of1.4 % .

高管薪酬公司Equilar最近发布的数据显示，2009年至2011年，标准普尔1500指数的成份股公司中有361名CEO离职。

According to a recently published report by executive compensation firm equilar , 361 CEOs at S & P 1500 companies left their offices between 2009 and 2011 .

工作基金会理事尼克•艾尔斯（NickIsles）在报告中指出：与普通员工相比，富时100指数成份股的首席执行官们几乎没有承受更多被解雇或裁员的风险。

A paper by Nick Isles , a director of the foundation , says : FTSE 100 chief executives suffer little more risk of being fired and made redundant than the average worker .

一种办法可以考虑使用建立一个股票组合，是道指成份股分红办法（DDA）的，是构建股票组合为基础的纯机械的方式。

One approach you could consider using to develop a share portfolio is based on the Dow dividend approach ( DDA ), a purely mechanical way of constructing a share portfolio .

摩根大通（JPMorgan）的数据显示，过去一个月，标准普尔500指数中250家最大成份股公司的股价相关度本周达到了81%，为1987年以来的最高点。

The correlation between the biggest 250 stocks in the S & P 500 over the past month has reached its highest since 1987 this week , at 81 per cent , according to JPMorgan figures .

瑞士信贷的研究表明，一个反映摩根士丹利资本国际亚洲（除日本）指数估值状况的指标已经相当于雷曼兄弟（LehmanBrothers）破产后、2008年10月份危机期间的最低水平。这个指标比较了成份股公司当前市值与未来预期收益。

Research by Credit Suisse says one measure of the MSCI index 's valuation , that compares companies current values with expected future earnings , is equivalent to the crisis-low levels of October 2008 after the collapse of Lehman Brothers .

自然资源类股票属于主要受益者之列，其中嘉能可（Glencore）和英美资源（AngloAmerican）在2015年沦为富时100指数（FTSE100）表现最差成份股之后，自今年初以来股价均上涨近一倍。

Natural resources stocks have been some of the biggest beneficiaries , with Glencore and Anglo American 's share price both almost doubling since the beginning of the year after being the worst performers on the FTSE 100 in 2015 .

管理咨询公司史宾沙（SpencerStuart（BIV）Ltd.）的统计数据显示，同样是在2012年至2013年间，标准普尔500指数成份股公司中有90家更换了CEO，比例为17%。

In the same two years , 90 companies , or 17 % of the constituents of the S & P 500 index of the biggest U.S. business , changed CEOs , according to a tally by management consultant Spencer Stuart .

在欧洲，基准的itraxx欧洲（itraxxeurope）指数中125家投资级成份股公司的债券违约保险成本，上周五一度飙升至156个基点的新高，收盘报于146个基点。

In Europe , the cost of insuring the debt of the 125 investment-grade companies in the benchmark itraxx Europe Index surged to a new high of 156bp , before closing at 146bp on Friday .

odgers，ray&berndtson发现，过去25年间，富时100指数成份股公司首席执行官的平均年龄已从60岁降至52岁。

Odgers , ray & berndtson found the average age of the FTSE 100 chief executives had fallen from 60 to 52 over the past 25 years .

此外，正如瑞银（UBS）股票策略师马修吉尔曼（MatthewGilman）所指出的，重要的是要记住，在富时100指数（FTSE100）的成份股当中，石油和天然气公司占了整整20%。

Also , as Matthew Gilman , an equity strategist at UBS , points out , it is important to remember that when it comes to the FTSE 100 , a full 20 per cent of the index consists of oil and gas companies .

在网络泡沫破灭后的2001至2002年间，标准普尔500指数（SP500）成份股企业中美国首席执行官的薪酬中值下跌了近10%。

Between 2001 and 2002 , after the dotcom bust , median compensation for US chief executives at companies in the Standard Poor 's 500 index fell by almost 10 per cent .