amihud meaning in Chinese
阿米胡德
Examples
- This paper examines the effects of the mechanism - call auction mechanism and continuity mechanism by which securities are traded on their stock returns . firstly , we explain the relational concepts . later , under the market inefficiency hypothesis , we draw into the amihud & mendelson model of price adjustment . because the different market tradings have different assets and these assets are traded in different environments , hence it would be hard to discern differences resulting from the trading mechanism itself from differences due to dissimilarities of securities and environments . we offers to resolve this difficulty by comparing the stock returns in the opening transactions with the price behavior of the some stocks traded at the same exchange during the same period in the closing transactions
而后，在市场无效的假设前提下，我们引入了amihud和mendelson构建的带有噪声的偏调整模型。由于不同的市场交易有不同的证券，而且这些证券又处在不同的环境中交易，因而很难看出排除证券本身以及环境因素后，交易制度对股票价格行为的影响。因此，我们利用同一交易所交易的同一股票在盘整时期的开盘(开盘交易采用集合竞价制度)和收盘(收盘价采用连续竞价制度确定)数据来比较不同的交易制度对股票收益的影响。 - Using standard event methodology to examine the daily abnormal returns around the prospectus date and the listing date of b shares shows that the dual listing has a negative effect on returns . these negative abnormal returns can be explained by the market segmentation hypothesis and the investor recognition theory of merton , but not consistent with the liquidity theory of amihud and mendelson
我们发现a股上市企业在b股招股公布前价格出现明显的正超额收益，但上市后就大幅下跌，主要原因在于投资者预期收益随着市场分割程度的降低和投资者数量的增加而下降，与国外情况不同的是， b股上市后a股流动性降低，这也是导致价格下跌的原因之一。