The obvious herding behavior in our securities market results from the institutional defects, and it is the behavior choice of investors in the specific market environment.

羊群行为是一种从众行为，我国证券市场羊群行为如此明显，主要是制度缺陷所导致的，是投资者在现实的特定市场环境下的行为选择。

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The falsified annual reports by some listed companies are generally caused by the institutional defects in stock issuing and marketing system, management system and inner corporate governance.

公司股票发行与上市制度、证券管理体制及上市公司内部治理结构的缺陷是造成上市公司年报粉饰行为产生的主要原因。

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Placement in any of these programs requires that a potential resident be medically stable, have sufficient functional defects to make inpatient nursing home care necessary, and receive an assessment by a medical provider that states institutional nursing home care is necessary.

FORBES: Vets May Be Eligible for Nursing Home Benefits