在实证研究部分中，本文首先采用事件研究法分析了管理层收购事件窗口里的累积超额收益率，分析表明存在显著的超额累积收益率；
Among the empirical part, this paper adopt event study to analysis the cumulative abnormal return in the MBO event windows at first, the result is that there is remarkable cumulative abnormal return;
虽然与成熟的伙伴进行合作，所产生的边际收益有所减少，但合作带来的潜在预订量将通过此应用程序带来非常大的累积收入。
Even if the margins are slimmer going through an established partner, the potential volume of bookings will result in a significant cumulative revenue share through the application.
大多数州都没有累积真正能获得收益的资金以支付未来的OPEB成本。
No actual income-generating funds, accumulated for the future, back them in most states.
这场低收益资产庞大累积的背后是否有着深层次的战略考虑？
Was there a deep strategy behind this vast accumulation of low-yielding assets?
随着诸如上述这些消极的财经新闻的累积，十年期国债随着通货膨胀而上升的收益在美联储降息之后又降下来了。
As the gloomy economic news piled up, yields on ten-year Treasury bonds, which had risen on inflation jitters after the Fed's rate-cut, fell back.
其他新型经济体(如巴西和韩国)由于面临寻求更高收益的资本洪潮，将累积大量的储备而不是让其货币升值。
Faced with a flood of capital searching for higher yields, other emerging economies, from Brazil to Korea, will build up eye-popping reserves rather than let their currencies soar.
公司发生的累积亏损。负数额的留存收益。
Accumulated losses incurred by a corporation. A negative amount of retained earnings.
德行声称，若果真能如此，自己就会有足够的时间通过收益来累积资本，或是采取销售资产的措施来解放资本。
That looks skimpy. The bank says it would have plenty of time to build up capital through earnings or that it could take steps to free up capital through asset sales.
分析结果表明ST公司重组后三年内平均累积超额收益(CAAR)显著为正。
The results show that cumulative average abnormal return (CAAR) is significantly positive in three years after st corporate restructuring.
德行声称，若果真能如此，自己就会有足够的时间通过收益来累积资本，或是采取销售资产的措施来解放资本。
That looks skimpy. Thebank says it would have plenty of time to build upcapital through earnings or that it could take stepsto free up capital through asset sales.
是否多年累积起来的巨额低收益率的资产背后还有一个不可告人的阴谋？
Was there a deep strategy behind this vast accumulation of low-yielding assets?Probably not.
进一步的回归分析显示：内部控制信息披露详细程度与特定窗口内的累积超额收益存在显著的正相关关系。
Through the regression, we also find that the detail of the information disclosure of internal control has positive relationship with the Cumulative Abnormal Return.
现代增长理论主要是建立在模型不变或增加收益的基础上，最重现性的因素是知识的累积。
Modern growth theory is largely built on models with constant or increasing returns to reproducible factors as a result of the accumulation of knowledge.
再利用计算机模拟股票价格收益率的分布特征，模型很好的刻画了现实证券市场中股票收益率分布的宽尾现象、长记忆性，以及累积分布中尾部收益的指数递减现象。
We investigate the fluctuation of price process in a stock market with Ising model and the mean field theory, and construct the corresponding random logarithmic price returns process.
研究结果表明，ST公司重组后三年的平均累积超额收益显著为正，超额收益呈先上升后下降的态势；
The results suggest that cumulative average abnormal return (hereinafter CAAR for short) of ST corporations is significantly positive in after restructuring, CAAR ascends and then falls;
越早披露年报的公司市场反应越显著，及时披露年报的样本组较不及时披露年报的样本组有更大的累积非正常收益。
But exchange, office size have nothing to do with the timeliness. When the annual report disclosure earlier, there will be a significant market reaction.
越早披露年报的公司市场反应越显著，及时披露年报的样本组较不及时披露年报的样本组有更大的累积非正常收益。
But exchange, office size have nothing to do with the timeliness. When the annual report disclosure earlier, there will be a significant market reaction.
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