Security Market Microstructure.
证券市场微 结构 。
Liquidity is the most important area of market microstructure researches.
流动性是市场微观结构研究的重要领域。
Asset price behavior is always the core field of financial market microstructure.
在微观市场结构研究领域，资产价格行为一直是核心的研究内容。
Market microstructure theory bases its research on the difference between bid and ask prices.
微观结构理论对交易成本的研究是从买卖价差开始的。
Effective market Hypothesis ignores the effect of market microstructure on asset pricing and price variation.
有效市场理论忽略了市场机制等市场微观结构因素在定价和价格变化方面所起的作用。
Based on the traditional market microstructure theories, the impact of asymmetric information on asset price is analyzed indirectly.
从传统的金融市场微观结构理论出发，通过间接的方式分析了非对称信息对资产价格的影响。
The fundamental research of financial market microstructure theories is the market transaction mechanism and the assets price forming.
金融市场微观结构理论研究的基本问题是市场交易机制与资产的价格形成问题。
The third part: Based on the market microstructure theories, the impact of asymmetric information on asset price is analyzed directly.
第三部分：从金融市场微观结构理论出发，通过直接的方式分析了非对称信息对资产价格的影响。
Some of the foreign literatures start to study it based on financial market microstructure characterized by market maker trading system.
近年来，国外文献开始基于做市商交易制度的市场微观环境对相关问题进行研究。
Researches in the market microstructure focus on the processes of discovering the trading prices and the operating mechanisms of the trading prices.
市场微观结构理论的研究主要集中于证券交易价格形成与发现的过程与运作机制。
The paper investigates the influence of price limit on price fluctuation and market liquidity in the light of the financial market microstructure theory.
文章调查了价格限制机制对股票价格波动以及市场流动性的影响。
According to market microstructure theory, the buyer-seller power contrast, which is measured by order imbalance, can affect the formation of stock price.
市场微观结构理论认为，以指令差额衡量的买卖双方的力量对比会影响价格形成。
Therefore, how to estimate volatility of asset equilibrium price considering jump and market microstructure noise has important theoretical and applied value.
因此，在存在跳跃和市场噪音的条件下如何准确衡量资产均衡价格的波动性具有重要的理论和应用价值。
The importance for estimation of asset equilibrium price volatility considering market microstructure noise is analyzed from the perspective of asset allocation.
从投资者资产配置的角度探讨了市场微观结构噪音条件下资产均衡价格波动率估计的重要性。
Not only is the kernel of the research on financial market microstructure, the subject about liquidity also plays a crucial role in the domain of the research on asset pricing.
流动性问题不仅是金融市场微观结构研究的核心所在，同样，在资产定价研究领域，也具有举足轻重的地位。
Based on the rational expectation framework and from the perspective of market microstructure, the paper analyzes the effect of price limit on trading mechanism of stock market.
本文从市场微观结构的角度，采用理性预期分析框架、探讨价格限制对股票交易的作用。
Research on the features of limit order books under continuous double auction mechanism in the order-driven market is an important field of financial market microstructure theory.
研究指令驱动市场连续竞价阶段的限价指令簿特征是金融市场微观结构理论的一个重要组成部分。
Based on the market microstructure theory, this paper studies on the character of trading volume return and return volatility in China stock market through narrowing the time window.
本文以金融市场微观结构理论为基础，通过将时间窗口缩小来研究中国股市的交易量、收益率和收益率波动的变化特征。
And the liquidity, volatility, which run through the entire market microstructure theory, are used to design the market structure and evaluate whether the market structure is perfect.
而流动性，波动性始终贯穿整个市场微观结构理论，更是被用来设计市场结构及评价一个市场结构是成熟，稳定而采用的广泛标准。
Based on theory of financial market microstructure and theory of corporate finance, we links stock liquidity with firm's capital structure to investigate their bidirectional relationship.
本文在金融市场微观结构理论和公司金融理论的基础上，把股票流动性与公司资本结构联系起来，深入探讨两者之间互相影响的关系。
Much research of the security market microstructure concentrates on the hermeneutic and the application of the models, not as to the problems such as reasons, backgrounds and academic origins.
对证券市场微观结构的研究多集中在模型的解释和应用方面，而对其理论产生的原因、背景和学术渊源等内在逻辑却少有关注。
This paper examines the implication of market microstructure theories for price discovery, and studies the role of asymmetric information in price discovery both theoretically and empirically.
本文将金融市场微观结构理论用于资产价格发现的研究，分析了非对称信息在资产价格发现过程中的作用，并进行了实证检验。
Financial market microstructure theory, which is to research the characteristics and internal rules of the financial market, has become one of the focus issues in the research of financial field.
金融市场微观结构理论已成为当今金融研究领域的一个热点之一，是从微观的角度去研究金融市场的特性和内在规律。
This study USES microstructure theory to analyze the operating and transaction mechanism of gold coin market in China and the speciality of its gold coin market operation.
文章运用市场微观结构理论论述我国金币市场的运行机制，主要阐述我国金币市场结构及交易机制，分析我国金币市场运作的特殊性。
Firstly, basing on the microstructure of stock market of our country, this thesis analyzes the reason and course of liquidity risk, and constructs the risk index-loss value of price spread.
首先基于我国股票市场微观结构、交易制度的现实，分析了投资者进行股票交易时所面临的市场流动性风险产生的原因与过程，并构造了本文的市场流动性风险指标——价差损失值。
The characteristics of microstructure noise in Chinese stock market are investigated by using tick-by-tick data of Shanghai stock market.
利用上海市场的分笔交易数据考察中国市场上微观结构噪音的特征。
The microstructure of transport market is experiencing great changes, so is transport demand, and its maturity level is more attributed to the development level of transport intermediaries.
运输需求和运输市场的微观结构都在发生巨大变化，而运输市场的成熟程度已更多地体现在运输中间层组织的发达水平。
The microstructure of transport market is experiencing great changes, so is transport demand, and its maturity level is more attributed to the development level of transport intermediaries.
运输需求和运输市场的微观结构都在发生巨大变化，而运输市场的成熟程度已更多地体现在运输中间层组织的发达水平。
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