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short sale

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short sale 【商業】賣空。

【商業】賣空。 “short“ 中文翻譯：   adj. 1.短的；短暫的。 (opp. long)。 ...“sale“ 中文翻譯：   n. 1.賣，出賣，出售。 2.拍賣；賤賣(尤指季末存貨 ...“are not for sale“ 中文翻譯：   拒絕出售“at a sale“ 中文翻譯：   特價商品“at sale“ 中文翻譯：   照定價...折“be for sale“ 中文翻譯：   待售“be on sale“ 中文翻譯：   出售“for sale“ 中文翻譯：   出售；待售; 出售品; 打折出售，降價出售; 代售; 待售,出售的; 發賣; 供出售; 可銷售的房子; 廉價出售; 某物是打算出售的，要賣出的; 傾家蕩產; 使出售的; 直接轉會“not for sale“ 中文翻譯：   不外售; 恕不出售 英語作文網; 恕不出售（非賣品）“on sale“ 中文翻譯：   出售,賤賣; 出售,廉價出售; 出售，減價; 出售；上市；廉價出售; 打折出售; 打折賣; 大拋賣，降價出售，出售; 大甩賣; 待售的; 換季; 減價銷售; 降價出售，出售的，上市的; 降價銷售/打折; 廉價出售/出售; 廉價特賣; 廉售的, 拍賣的; 熱賣中!大減價; 上市；減價出售; 上市的；減價；賤賣; 削價出售 此文由英語學習網整理收集; 削價出售 此文由英語作文網整理收集; 削價出售,大減價; 削價出售、打折; 銷價出售; 在出售; 在銷售之中; 折價“sale“ 中文翻譯：   n. 1.賣，出賣，出售。 2.拍賣；賤賣(尤指季末存貨的大減價)。 3.銷路。 4.銷數，銷售額。 5.【法律】買賣契約。 a sale for [on] cash＝a cash sale 現金出售。 a sale on credit [account] 賒銷。 a public [an open] sale 拍賣。 forced sale 強制拍賣。 a trade sale 同行拍賣。 the season of sales 出清存貨的季節。 a grand [bargain] sale 大廉價。 at sale (書店同行間)照定價七折。 dispose of (sth.) by sale 賣掉(某物)。 dull of sale 滯銷，銷路不好。 easy of sale 暢銷，銷路好。 find no sale 無銷路。 have [meet with, command] a ready [good] sale 暢銷。 for sale 出售(的)。 no sale 〔美俚〕不；我不贊成，我不來。 not for sale 非賣品；不出售的。 offer for sale 供應銷售。 on sale 1. 出售(的)，待售(的)。 2. 廉價出售(的)，拍賣(的)。 put up for sale 拿出拍賣。 sale by area 【林業】場地上立木全部出賣。 sale by bulk 估堆賣，成批出售。 sale of work (教友等舉行慈善性質的)義賣。 sale or [and] return 剩貨保退〔指批發給零售商的貨物〕。 sale price 廉價。 “this for sale“ 中文翻譯：   這個賣不賣“for sale (sale)“ 中文翻譯：   打折出售，降價出售“sale, on sale“ 中文翻譯：   大減價“be short for“ 中文翻譯：   是……的縮寫“be short of“ 中文翻譯：   不及；少于；缺少; 短缺; 缺乏,不足；達不到; 缺乏..., ...不足; 缺少，不足；未達到“for short“ 中文翻譯：   簡稱, 縮寫“in short“ 中文翻譯：   大概簡單地說; 簡而言之，總之; 簡言之總之; 總的來說; 總結; 總之,簡言之; 總之,總而言之; 總之，簡而言之; 總之，總而言之“short“ 中文翻譯：   n. 蕭特〔姓氏〕。 adj. 1.短的；短暫的。 (opp. long)。 2.矮的；低的 (opp. tall)。 3.短期的。 4.簡短的；簡略的；縮寫的。 5.【語音】短音的。 6.不足的；不夠的；短少的。 7.不及的；達不到的。 8.(見聞等)淺陋的。 9.簡慢的；唐突的；無禮的；急性子的；不高興的；發著脾氣的。 10.〔口語〕不攙水的，強烈的(酒等)；〔威士忌〕純的。 11.【商業】賣空的；拋空的；無存貨的。 12.〔金屬〕脆的；易裂的；易碎的；松脆的(餅等)。 13.波濤洶涌的(海)。 14.(智力等)弱的；(記憶力)差的。 a short life and a merry one 短暫光輝的一生。 a short mile distance 不到一英里的距離。 In speaking one should be short and to the point. 說話要簡捷扼要。 He was very short with me. 他對我很冷淡。 short memory 善忘。 a short temper 急性子。 something short 烈酒。 come [drop, fall] short (of) 在某方面有所不足；在某方面差一點；有缺陷；辜負期待，達不到目的。 in the short run 在短時期里。 little short of 幾乎；簡直 (It is little short of a miracle 簡直是奇跡)。 make [let] a long story short 說得簡單些。 make short work of 迅速處理[破壞、消費]；殺死。 nothing short of 完全是；不折不扣的是；簡直可以說；除…外；別無…。 run short (of) 缺乏。 short and sweet 1. (說話)扼要的。 2. 短而愉快的。 short arm drill 〔美軍俚〕花柳病檢查。 short of 缺少；達不到；除了；只要不是 (be short of money 缺少錢)。 short of breath [puff] 喘著氣。 adv. 1.簡短地；簡單地。 2.缺乏；不足。 3.脆。 4.突然；忽然。 5.簡慢地；唐突地。 be taken short 忽然想解手[大、小便]。 bring [pull] up short 忽然停止。 cut short 突然停止；突然阻止。 sell short 賣空。 take sb. up short 阻斷(某人)談話。 n. 1.概略；要點；不足；缺乏。 2.【語音】短音節；【音樂】短音符。 3.【商業】賣空；(交易所的)空方；空頭。 4.【棒球】游擊手。 5.〔pl.〕(運動)短褲。 6.不到規定長度的東西[魚等]。 7.〔pl.〕短少的數額；【印刷】短少部數；追加部數。 8.次貨；廢料；次粉；細麥子。 9.(報刊的)短訊；短篇；(電影的)短片 (＝short piece or film)。 10.【電學】＝short-circuit. 11.〔美俚〕汽車。 12. 〔pl.〕短期票據[債券]。 The long and short of it is .... 總而言之；簡單地說。 at (the) short 簡單地；立即。 for short 簡稱〔簡稱人名時用〕。 in short 簡單地說；總之。 vt. 1.故意少給；欺騙。 2.【電學】使短路。 3. 賣空(股票)〔亦作short short〕。 “short for“ 中文翻譯：   簡短的“short of“ 中文翻譯：   不足，缺乏; 缺乏, 達不到, 除...以外; 缺少; 若無，除...外“bill of sale; contract of sale“ 中文翻譯：   賣契“clearance sale; be on sale“ 中文翻譯：   甩賣“commission sale; consignment sale“ 中文翻譯：   委托販賣“conditional sale; tie-in sale“ 中文翻譯：   搭售

short seller

This paper is absorbing and referring to the former theoretical accomplishment and practice experience , using mathematical model analyze , game analyze , comparing study , the analysis method of segregation as well as history and positive analysis method , make clear that we should allow the exchange of short sales and should establish the mechanism of short sales to promote development of the stock market of china , give some policy suggestion of establish the mechanism of short sales in chinese stock market as well 本論文在吸收和借鑒以往理論成果和實踐經驗的基礎上，采用數理模型推導分析、博弈分析、比較分析法、分門別類的分析方法以及歷史和現實相結合的分析方法，明確的提出了中國的股票市場應當建立賣空機制，允許賣空交易，并提出了在中國股票市場建立賣空機制方式的政策建議。

This chapter is the most important part in the paper . firstly , it study the necessaries of the mechanism of short sales according to the distinctive of chinese stock market , then study the feasibility of establishing the mechanism of short sales for chinese stock market , and give some method of establishing of the mechanism of short sales in chinese stock market according to the present situation of chinese stock , finally give some suggestion of the exchange superintendence of short sales 首先針對中國股票市場的特殊性研究了構建賣空機制的必要性，然后對在中國股票建立賣空機制的可行性進行了研究，接著結合中國股票市場的現狀提出了在中國股票市場建立賣空機制的方法，其后針對中國的實際情況，分析和預測了在中國股票市場建立賣空機制可能引發的風險并提出了規避和降低這些風險的辦法和建議，最后提出了針對賣空交易監管的政策建議。

When a listed ( or otc - listed ) company is converted into a financial holding company in accordance with the financial holding company act , if the shares of the financial institution anticipated to be converted into the financial holding company are eligible for trading on margin purchase and short sale , the shares of the financial holding company after conversion , if it is a listed company , shall be eligible for margin purchase and short sale , unless the shares are overly concentrated ; the six - month listing provision of paragraph 1 and the provisions of paragraph 3 , subparagraphs 1 and 3 shall not apply 上市(柜)公司依金融控股公司法轉換為金融控股公司時，預計轉換為金融控股公司之金融機構股票中如有具融資融券資格者，轉換后之金融控股公司如為上市公司，除其股票有股權過度集中之情事者外，即得為融資融券交易，不適用第一項上市滿六個月與第三項第一款、第三款之規定。

In this chapter , this paper firstly define the mechanism of short sales and the exchange of short sales , then go deep into defining the exchange master , the guest and the operating step of the short sales , then try hard to find out the realistic meaning of short sales by historical investigation 在這一章，本論文首先界定了賣空交易和賣空機制的涵義，然后深入界定了賣空交易的主體和客體的內容以及賣空交易的操作步驟，接著力圖通過對賣空交易的歷史考察找出賣空的現實意義。

We can draw these conclusions through the analysis in the article : ( 1 ) the conflict between profitability and liquidity is the root of open - end funds liquidity risk ( 2 ) the security market in china is still developing with lots of speculators ( 3 ) the continious and stable development of security market is the precondition of open - end fund . most of open - end funds are in the type of stock , whose performance depends on stock market ( 4 ) so far , the merchanics in terms of block trade , processing trade , as well as derivatives of short sales and risk - hedging is still in progress , which restrict fund managers ' competence to control risk and increase their stress in dealing with liquidity risk ( 3 )證券市場持續穩定地發展是開放式基金得以長足發展的保障。現有的開放式基金絕大多數是股票型基金，其業績依賴于股市向好，進而影響投資者是否持有基金的抉擇。 ( 4 )目前我國證券市場在關于大宗交易、程序化交易、做空機制和規避風險的金融工具等方面的制度尚不健全，制約了基金管理人控制風險的能力，也加大了其面對流動性風險的壓力。

Where margin purchase or short sale transaction is suspended or margin purchase ratio or percentage of margin of short sale is adjusted in accordance with the provisions in the preceding paragraph , if the reason for suspension or adjustment no longer exists , the stock exchange or otc exchange shall make public announcement of the reinstatement and report to fsc for recordation 依前項暫停融資融券交易或調整融資比率、融券保證金成數者，于暫停或調整原因消滅時，由證券交易所或證券柜臺買賣中心公告恢復，并報本會備查。

The stock market of china is being in a period of acceleration reform and acceleration development , whether should we set up the mechanism of short sales of chinese stock market is a hot problem of current theoretical circle , there are various opinions on the . problem 中國的股票市場正處在一個加速改革、加速發展的時期，構建中國股票市場的賣空機制是當前理論界的一個熱點問題，對于賣空交易和賣空機制是否應該引入到中國的股票市場也是眾說紛紜見仁見智。

Article 6 the amount of securities business money lending conducted by a securities firm is limited to the amount payable by each customer after netting the prices of securities bought and sold by that customer on that trading day , excluding the amounts of margin purchases and short sales in margin trading 第6條證券商辦理證券業務借貸款項其金額以每一客戶成交日買進、賣出證券價金相抵后之應付價金為限，但不包括信用交易融資買進及融券賣出款項。

Considering that short sales are not allowed on risky securties , the author studies optimization model of riskless asset combination investment and presents their caculation formula of investment proportions by means of the utility function 摘要在考慮限制賣空風險證券的基礎上，借助用函數，對無風險資產存在時證券投資組合優化模型進行研究，給出了期望效用最大化時無風險資產和風險證券投資權重的解析表達式。

When margin purchase and short sale transaction is suspended or reinstated by the stock exchange or otc exchange pursuant to article 6 herein , the suspension or reinstatement shall be executed on the day of public announcement placed according to the method referred to in the preceding paragraph 證券交易所或證券柜?買賣中心依第六條規定暫停或恢復融資融券交易時，應于依前項方式公告之當日通告執行之。

This paper attempt to make an overall and distinct treat of exchange of short sales and the mechanism of short sales , and hope benefit for establish eventually the mechanism of short sales in chinese stock market , promote the development of stock market 本論文試圖從整體上對賣空交易和賣空機制有一個全面和清晰的論述，希望能夠對在中國股票市場最終建立賣空機制有所裨益，推動中國股票市場的發展。

When the covariance matrix formed by securities yields is positive definite , we provide the model with transaction costs , the risk is b index risk , researching the model under short sale and no short sale separately 在證券收益率之間的協方差陣為正定矩陣時，給出了以值風險為風險指標的含有交易費的證券組合投資模型，并分別在允許賣空和不允許賣空兩種情形下進行了討論。

Article 15 for the purposes of this chapter , the term “ underlying assets “ of securities lending transactions refers to those securities eligible for margin purchases and short sales , and such other securities as may be approved by the competent authority 第15條本章所稱有價證券借貸交易標的，系指得為融資融券交易之有價證券或其他經主管機關核準之有價證券。

As the supply of shares grows via short sales , the stub value gets more positive , indicating less demand from irrational investors , and causing the subsidiary to fall relative to the parent 隨著空頭銷售導致股票供應量增加，公司的自身價值也逐漸轉為正值，這表明來自非理性投資者的購買需求越來越少，最終導致子公司的股價相對于母公司的股價下跌。

An associated person conducting securities lending business under the preceding paragraph may concurrently provide services relating to margin purchases and short sales of securities and securities business money lending 前項辦理有價證券借貸業務之業務人員得兼辦有價證券買賣融資融券及證券業務借貸款項之業務。

The result indicates that risk preference coefficient with short sales allowed reflects the investor ' s expected rate of return and the variance within the entire interval 計算結果表明，風險偏好系數在整個取值范圍內都能夠較好地反映投資者對收益和風險的選擇態度，而且，含無風險資產的借貸拓展了投資機會空間。

In addition , it exits some others fators , for example the much less investment channel , the much less return from company and the inexistence of short sale system 除此之外，其他的一些因素也是我國投機程度較盛的原因，其中重要的有：投資者投資渠道狹窄；做空機制的缺失；公司盈利能力低下，紅利微薄等。

This new capability will result in shorter sales cycles , higher response rates , increased customer loyalty , and an overall increasing in profitability 從而為企業建立一支知識化的營銷隊伍，以達到縮短銷售周期、提高客戶響應率、增強客戶忠誠度，最終實現利潤的提高。

Taking variance as the risk measure , the e - v model is established . the solution and property of efficient frontier with or without short sale constraint is analyzed 以半方差為風險度量標準，建立了證券組合投資的e - sh模型，并探討了其求解方法。