关于调整印花税对噪声收益波动性的影响，研究方法是方差齐次检验，结果是调整证券交易印花税对小组合的影响是显著的。
The results of the study show that the DBMD models can capture the persistence of return volatility, and reveal the joint dynamic relations between price volatility and trading volume.
你可以看到，股票市场波动性大于其收益，每股价格往往是，每股收益的几倍之多。
You can see that the stock market has been more volatile than the earnings and the price of a share is many times higher than the earnings per share.
结果表明税率调整对噪音交易收益的波动性有一定的影响。
Results show stamp tax adjustment has an effect on the volatility of noise trade.
本文所研究的这种波动性指的是资产收益的方差随时间不断变化，这在计量经济学中称之为异方差问题。
Volatility in the article is the variance of asset return, which varies with time going, and this is also called heteroscedasticity in Econometrics.
通过研究股票实际收益率与通货膨胀波动性之间的关系，可以判断股票市场波动和宏观经济运行之间的联系。
By studying the relationship between stock real returns and inflation, we could find the correlation between stock market volatility and macroeconomic conditions.
结果表明，深证成指周收益率序列的波动性可以用GARCH模型进行很好的拟合。
The results show that the GARCH model can be a good fit to the weekly return series of Shenzhen Stock Index.
沪深股市相似的结构和监管环境使得两市的收益率和波动性之间具有相互作用和影响。
The Shanghai and Shenzhen Stock markets share similar structures and regulatory environments, so there are interaction and influences of returns and volatility between the two market.
实证分析结果表明：EGARCH模型比较适合对我国股票市场波动性作长期预测，若假设收益序列服从t分布，由此改进的EGARCH-T模型会得到比正态分布下更好的拟合与预测效果。
The results show that EGARCH is the best model for forecasting long-term volatility. Furthermore, using EGARCH with the Student t-distribution gives better results than with a normal distribution.
这些手段少一些是件好事，但却可能意味着收益表现的波动性更大，从而吓跑了那些习惯于公司以往稳定业绩的投资者。
Less of that is a good thing, but it may mean a more-volatile earnings performance, scaring off investors used to the faux-steadiness of past profits.
金融工具的公允价值变动计入当期损益，不但增加了我国上市公司收益的波动性，整体而言对净利润影响也举足轻重；
The fair value of financial instruments included in current changes in the profit and loss, not only makes up the profits for listed companies but also has a decisive impact on the net profit;
这种波动性的标准化是非常重要的，因为这意味不同的市场中不同的交易对于特定的美元损失或特定的美元收益往往具有相同的机会。
This volatility normalization is very important because it mean that different trades in different markets tent to have the same chance for a particular dollar loss or a particular dollar gain.
同时，对沪铜收益率的波动性特征，两类模型得出了相同的实证结果。
At the same time, to the volatility of copper yield rates characteristics, two types of models came to the same empirical results.
在此基础上利用随机波动类模型对两种收益率的波动性特征进行拟合，并对拟合优度进行分析。
Based on this we simulate the volatility features of the two kinds of yield rate time series and analyze their fitting results using the stochastic volatility models.
近期有学者开始关注个股间相关性和个股的特质波动性是否对股票截面收益率有影响。
Recently, some scholars began to pay attention to the correlation risk between individual stocks and the idiosyncratic volatilities of individual stocks.
分析结果显示：我国股市日收益率具有明显的异方差性、波动性、聚集性、持续性和杠杆效应。
The results showed that the daily yield of China' s stock market had obvious heteroscedasticity, volatility, aggregation, sustainability and leverage effect.
我国期货市场的波动性与收益率显著正相关(即风险价值大于零)，风险越大，投资者所要求的收益率就越高。
Sixthly, volatility and return rate is positive correlation in our country's futures market, the greater risk, the higher return that investors demand.
结果表明：中国股市收益率与波动性具有长记忆性，尽管收益率的长记忆性不如美国股市强；
The results show that the stock market returns and volatilities in China have long memory and persistence although they are not as strong as that of American stock market;
对上海和深圳市场股价指数及其月度超额收益率的分析表明，我国股票市场的波动性较大；
The author analyzes the indexes of stock price and their monthly excessive return rate in Shanghai and Shenzhen Market. Relative high volatility exists in China's security market.
对上海和深圳市场股价指数及其月度超额收益率的分析表明，我国股票市场的波动性较大；
The author analyzes the indexes of stock price and their monthly excessive return rate in Shanghai and Shenzhen Market. Relative high volatility exists in China's security market.
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