慣性 [力學(xué)] inertia; inertance; sluggishness; the force of inertia 慣性使汽車駛到了人行道上。 inertia carried the car to the pavement.; 慣性半徑 radius of inertia; 慣性測(cè)量 inertia measurement; 慣性沉降 inertial settling; 慣性沖程 head reach; 慣性傳感器 inertial sensor; 慣性定律 law of inertia (牛頓第一定律); 慣性定位 inertial positioning; 慣性飛行 coasting flight; 慣性飛行導(dǎo)彈 coasting missile; coaster; 慣性滑行 coast; coasting; 慣性控制 inertial control; 慣性領(lǐng)航 inertial navigation; 慣性輪 flywheel; inertia wheel; 慣性平衡 inertia balance; 慣性系數(shù) inertia coefficent; 慣性效應(yīng) effect of inertia; 慣性壓力 [流] inertial pressure; 慣性制導(dǎo) inertial guidance; 慣性制動(dòng) inertia braking; 慣性中心 centre of inertia; 慣性軸 [物理學(xué)] axes of inertia; inertia axis; 慣性撞擊 inertial impaction
行業(yè) trade; profession; industry 服務(wù)行業(yè) service trades; 行業(yè)工會(huì) trades union; 行業(yè)規(guī)劃 programs for different trades; 行業(yè)習(xí)慣 usage of trade; 行業(yè)語(yǔ) jargon; cant
( 3 ) for time - varying risk premium and industrial momentum , serial autocorrelation of factor returns including size , be / me , and industry contributes mostly to momentum profits , especially industry momentum ( 3 )時(shí)變風(fēng)險(xiǎn)溢價(jià)與行業(yè)慣性方面:公司規(guī)模、凈值市值比以及行業(yè)等因子的序列自相關(guān)性是慣性策略獲利性之主要驅(qū)動(dòng)因素,尤以行業(yè)慣性顯著。
First , we examine whether the momentum strategies and contrarian strategies can create significant profits under different formulation horizons and holding horizons , whether past factors ( market return , characteristic of individual stock ) can provide an important implication about the profits of momentum and contrarian strategies . second , we discuss the reasons for the significant profits of momentum or contrarian strategies , including seasonality , cross - sectional risk factors , time - varying risk premium , industry momentum , and stock underreaction , overreaction , and random walk . third , we discuss the link of time series predictability of stock returns and momentum profits , including stock underreation , overreaction , delayed reaction , and time - varying risk premium 研究目的有四:其一,探討中國(guó)股市執(zhí)行慣性策略或反向策略的顯著獲利模式及與各狀態(tài)因子(市場(chǎng)及個(gè)股狀態(tài))的關(guān)系;其二,全面分析中國(guó)股市慣性與反向效應(yīng)之潛在成因,包括截面風(fēng)險(xiǎn)因素、季節(jié)因素、時(shí)變的風(fēng)險(xiǎn)溢價(jià)、行業(yè)慣性效應(yīng)以及行為金融模型與conradandkaul ( 1998 )的隨機(jī)游走觀點(diǎn)之爭(zhēng)論;其三,構(gòu)建非效率市場(chǎng)之股票價(jià)格運(yùn)動(dòng)方程,并基于此,規(guī)范地演進(jìn)慣性效應(yīng)之時(shí)序生成途徑,包括反應(yīng)不足、過(guò)度反應(yīng)、滯后反應(yīng)以及風(fēng)險(xiǎn)溢價(jià)的時(shí)變性;其四,探討中國(guó)股市中投資者的特殊信息反應(yīng)模式,并以此來(lái)解讀中國(guó)股市的中短期過(guò)度反應(yīng)與反應(yīng)不足的現(xiàn)象,以及個(gè)股間的超前一滯后關(guān)系的表現(xiàn)模式及形成機(jī)理。