过度交易

这些投机新手过度交易。

These neophyte speculators overtrade .

例如，男性往往会对投资账户进行过度交易，导致他们的业绩不如女性。

For example , men tend to overtrade their investment accounts , causing them to underperform women .

投资者非理性行为对创业板IPO抑价的表现主要有投机性与过度交易、过度反应与反应不足、羊群行为。

Investors ' irrational behavior performance of the GEM IPO underpricing mainly include the speculative and excessive trading , over-reaction and reaction , and herd behavior .

相同的政策条件下，各行业的过度交易程度不同。

Different industries are affected by the same policy differently .

不同行业的过度交易程度受整个市场过度交易程度的影响程度不同；

Different industries are affected by same market factor differently .

股民过度交易了么？&基于中国某证券营业厅数据的研究

Do Investors Trade too Much ? Evidence From China 's Stock Markets

基金管理公司治理中的代理问题&一个过度交易的视角

Agency-problem in Fund Management Company Governance : In View of Excessive Trading

我国股市换手率存在规模效应，即流通股本对过度交易程度有影响，不存在月份效应；

There is scale effect , without time effect of turnover rate in Chinese stock market .

斯密对疯狂的投机非常熟悉，他客气地称之为“过度交易”。

Smith was familiar with rampant speculation , or " overtrading " as he politely called it .

科茨表示，金融机构可以采取一些措施来减少睾丸激素刺激的过度交易，但不必采取如此极端的手段。

Dr Coates says financial institutions could do something to reduce the excesses of testosterone-fuelled trading without taking such extreme action .

斯密表示：当交易获利高于平常时，过度交易就成为一个普遍的错误。

When the profits of trade happen to be greater than ordinary , Smith said , overtrading becomes a general error .

各行业过度交易程度都受前10周过度交易程度的影响，本期过度交易与前10期过度交易间正相关程度较大；

To different industries , each industry 's overtrading degree is affected by the overtrading data of its last ten weeks .

在一个过度交易越来越盛行的环境中，很难去维持信任，事实上它也确实没有得到维持。

It is hard to see how trust can be sustained in an environment characterised by increasingly hyperactive trading , and it has not been .

过度交易程度与行业因素有关，不同的行业过度交易的程度不同；

Finally the paper draws the following conclusions : The overtrading degree is related to industrial factor , and the overtrading degree of different industry is different .

多数分析师和投资者将这波逆转行情归因于长期的过度交易引发的迟来的逆转，而债券市场流动性的缺乏又加剧了市场的动荡。

Most analysts and investors have attributed the gyrations to an overdue reversal of stretched and crowded trades , with the turmoil exacerbated by a dearth of liquidity in bond market trading .

影子银行在欧美等发达国家进行大肆创新和过度交易，最终引发了跨国界的系统性风险。

In Europe and other developed countries , Shadow banks carried out innovative and excessive trading , accumulating giant risks , the risk continued to expanse , which eventually led to cross-border systemic risk .

一个简单的想法能使一件过度交易的蠢事，变成一场投机灾难无论它涉及远洋贸易、路易斯安那州的土地、股票、债券、郁金香还是住房抵押贷款。

One simple idea allows an over - trading folly to turn into a speculative disaster whether it involves ocean commerce , land in Louisiana , stocks , bonds , tulip bulbs or home mortgages .

关于中国投资者投资行为的实证研究表明，过度交易、处置效应和羊群行为等投资行为异象在我国证券市场不仅存在，而且表现程度更加剧烈。

As for the investing behavior of Chinese investors , empirical results show that anomalies of investing behavior such as excessive trading , disposition effect and herd behavior not only exist , but more seriously .

这可能会导致投资组合价值折损，部分原因在于，这会导致昂贵的过度交易，还有部分原因在于（如研究报告的小字声明中所说），过去的业绩并不代表将来的表现。

This is likely to destroy value partly because it leads to excessive trading , which is expensive , and partly because , as the small print says , past performance is no guarantee of future results .

无论是有限记忆交易行为，还是过度自信交易行为，均可能引起资产短期价格行为的过度反应现象。

Both the trading activity of limited memory and overconfidence may cause the overreaction phenomenon of the assets short-term price .

中国证券市场主体过度噪声交易的原因是存在体制性缺陷。

The existing excessive noise deal in the China 's stocks market is mainly due to the defects in the system .

本文综合运用实验研究和实证研究方法，通过实验研究检验投资者个人层面的过度自信对交易量的影响，通过实证研究检验市场层面的过度自信对交易量的影响。

This thesis uses experimental research to examine the level of individual investor trading volume and empirical research to the level of overconfidence on market .

认为：造成80%以上并购案失败的原因是-在当前的价值评估研究中，过度关注并购交易价格的确定，而忽视了对并购行为的全面评估。

Thinking about that over 80 % of the merger failures , the reason is - the current research of the value assessment put excess attention on the bargain price of the merger , but neglected to overall value assessment .

我的导游马卡·卡里奥（MaykelCarillo）说，当地人习惯远离水边，因为这里一度公牛鲨（bullsharks）横行。截至20世纪80年代，过度捕捞和鱼翅交易使得公牛鲨灭绝，但是有些人说仍然有几只潜伏在水下。

My guide , Maykel Carillo , saidlocals used to stay out of the water because it was once infested with bull sharks.By the 1980s , overfishing and a shark fin trade wiped-out the population , butsome say a few still lurk under the surface .

交易商还倾向于过度优化他们的交易系统。

Traders also tend to over-optimize their trading systems .

投资者过度自信时的交易量

Trading Volume When Investors are Overconfident

资本市场中的投资者并非完全理性，而是具有认知和行为偏差的普通人，存在过度自信和过度交易的情况；

The investors in asset markets are not fully rational , they are ordinary people , have cognitive and behavioral bias , they are prone to overconfidence and thus cause to over traded ;

金融系统过度扩张，保证金交易与投资信托大行其道，美联储软弱无力，分期付款和抵押贷款中违约风险严重，这一切导致了银行危机的爆发。

The financial system expanded excessively , the margin trading and investment trusts is popular , the Fed was weak , installment and mortgage loans were in serious default risk , all this led to the outbreak of the banking crisis .

鲍尔默周二接受采访时说，公众不应过度解读这桩交易对于埃洛普未来的意义，但承认曾长期担任他助手的埃洛普已经从外部候选人变成内部候选人。

In an interview Tuesday , Mr. Ballmer said the public shouldn 't read too much into what the deal means for Mr. Elop 's future , but acknowledged his longtime associate has gone from being an external candidate to an internal candidate .