连续竞价 meaning in English
continuous auction
Examples
- Actually , if we can look on activities of stock market as a series price competition and dealing process in a fixed system , then we can choose p / e as the process variable to study the venture of stock market with spc ( statistic process control ) theory
股票市场的运动演进可视为一个系统内的投资者连续竞价交易的过程，因此可选择表征股票市场的风险的市盈率作为过程变量，应用过程控制理论研究股票市场的风险。 - 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。 - Then we point out that market microstructure is the important factor affecting price forms , the price of security market form is decided by market participator ' s game process in asymmetrical information , and establish a price decision model of continuous auction market
然后从价格形成机制研究的发展历程出发，认为市场微观结构是影响价格形成的重要因素，证券市场的价格形成是市场参与者在非对称信息下的博弈活动决定的，并建立了一个连续竞价市场的价格确定模型。