噪声交易者的正向反馈作用容易导致IPO市场效率的恶性循环。
The positive feedback characteristic of noise traders would lead to the vicious circle of IPO market efficiency.
本文利用DSSW模型讨论了存在“老鼠仓”条件下，噪声交易者的收益变动，并得出相应的启示。
This paper utilizes DSSW model to discuss the change of returns of the noise traders in the condition of "mouse storehouse", and puts forward corresponding enlightenments.
在实证分析的最后部分，基于风险补偿与收益率之间的关系，本文探讨了噪声交易者风险的定价问题。
In the last part of empirical analysis, based on the relationship between risk and return, pricing of noise trader risk is discussed.
本文利用DSSW模型讨论了存在“老鼠仓”的条件下，噪声交易者的收益变动，并提出了相应的启示。
This text utilize DSSW model discuss the change of return of the noise traders in the condition of "mouse storehouse", and has put forward corresponding heuristics.
研究证实，噪声和噪声交易者对证券价格的影响是系统性的，这种影响会波及大部分证券甚至整个证券市场。
These studies show that the impact of noise and noise traders on price is systematic and could spread to most securities, even the whole security market.
交易主体的竞争行为具有大交易者的决定性，中小交易者的追随性，以及噪声的高强度等特征。
The transaction main body competition behavior has the big swapper's decisiveness, young swapper's tracing ability, as well as noise high strength and so on characteristics.
交易主体的竞争行为具有大交易者的决定性，中小交易者的追随性，以及噪声的高强度等特征。
The transaction main body competition behavior has the big swapper's decisiveness, young swapper's tracing ability, as well as noise high strength and so on characteristics.
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