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调研报告怎么写:国际货币基金组织

调研报告怎么写:国际货币基金组织

MF global主要支持全球经济和交易所的稳定。它促进了国际贸易的扩张和平衡增长。此外,它还支持建立一个多边支付系统来支付目前的交易。然而,国际货币基金组织是最重要的国际组织之一;伟大的经济体是组织的成员,组织与世界银行合作;对该组织的信心正在减弱。国际货币基金组织总裁克里斯蒂娜·拉加德因滥用公共基金而被判有罪。她在法国法庭被判有罪。

调研报告怎么写:国际货币基金组织

此外,根据文章“I.M.F.”。由克里斯汀·拉加德(Christine Lagarde)主持,她被判犯有过失杀人罪。然而,在《纽约时报》2016年12月19日的《纽约时报》(New York times)上,国际货币基金组织(IMF)总裁在法庭上判定该组织支持其总统。国际货币基金组织的董事们表示,他们认为法院的决定,他们完全相信他们的总经理能够履行指派给她的职责。它减少了组织的信任(Alderman, Thomas & Breeden, 2016)。

调研报告怎么写:国际货币基金组织

The MF mainly supports the stability of global economic and exchange. It facilitates the expansion as well as the balanced growth of the international trade. Besides this, it supports in establishing a multilateral system of payments for the current transactions. However, the IMF is one of the most significant international organizations; the great economies are the members of the organization, and the organization works with World Bank; the faith for the organization is diminishing. The Managing Director IMF Christine Lagarde was convicted of a criminal charge because of misusing the public fund. She was found guilty in the French court.

调研报告怎么写:国际货币基金组织
Moreover, according to the article “I.M.F. Stands by Christine Lagarde, Convicted of Negligence” by Landon Thomas Jr…, Alderman, and Aureliien Breeden of Dec 19, 2016, of The New York times, however, the president of IMF found guilty in the court that the organization stands by their president. The directors of IMF stated that they deemed the court’s decision and they had complete faith in the capability of their MD to carry out the duties assigned to her. It reduces the trustworthy of the organization (Alderman, Thomas & Breeden, 2016).

澳洲代写被抓

澳洲代写被抓

第三篇文章是由Ausustas Degutis和Lina Novickyte根据有效市场假说(Degutis and Novickyte, 2014)的发展而开发的。在研究中提出了重要的文献综述,表明资本市场的发展(Degutis和Novickyte, 2014)改变了有效市场假说的实证有效性和相关性。因此,研究了波罗的海证券市场,以了解目前有效市场假说的现状(Degutis和Novickyte, 2014)。有人认为,股票的回报将不会对未来的回报产生影响,但有一种理解是,股票价格的变动是由于关键信息,证明了目前市场的半强劲的市场效率存在。

澳洲代写被抓

从上述讨论中得出,有效市场假说和随机漫步理论是行为金融学领域近期发展的基础。此外,世界各地的各个市场都被发现在确定的理论范围内运作。

澳洲代写被抓

The third article is developed by Ausustas Degutis and Lina Novickyte based on the developments from the efficient market hypothesis (Degutis and Novickyte, 2014). The critical literature review is offered within the study that suggests that the empirical validity and the relevance of the efficient market hypothesis are being changed by the capital markets development (Degutis and Novickyte, 2014). Therefore, the Baltic stock market was researched for understanding the present efficient market hypothesis status (Degutis and Novickyte, 2014). It was identified that the stock return of one day will not be responsible for the influence of the futuristic returns, but it is contested with the understanding that the changes of stock price due to key information proves the semi-strong market efficiency presence in the current markets.

澳洲代写被抓

It has been concluded from the above discussion that the efficient market hypothesis and random walk theory are the basis of the recent developments in the sector of behavioural finance. Moreover, the various markets across the world are found to be operating within the identified theory scope.

 

个人陈述-市场效率

个人陈述

研究人员主要开发并使用了市场效率假说,以确定基本的价格效率或投资者对它的看法是企业收购策略的一部分。因此,对股票价格的感知使得对收购的现金投标和公开市场报价之间的决策成为可能。公开市场报价是由投资者选择的,其中股票价格不知情,股票的真正内在价值不代表(装甲和Cheffins, 2016)。然而,当对股票价格的信心和对组织内在价值的认同时,现金投标的报价是当前的收购方法。因此,如果取得了可靠的假设,就会提出收购和交换投标建议。

个人陈述

研究人员在Fama有效市场假说的基础上提出了这一主张,即股价并不一定是内在组织价值的晴雨表,而是投资者对准确性的信念(Armour和Cheffins, 2016)。因此,有效市场假说的半强势形式是这一发展的基础.

个人陈述

The researchers have primarily developed and used the market efficiency hypothesis for surfacing the point that the fundamental price efficiency or the investors’ perception about it is integral to the strategy of the corporate takeovers. Hence, the perception of the share prices enables the decision making between the offers of cash tender and open market bids for the acquisitions. The open market bids are selected by the investors wherein the share prices are not informed and the true intrinsic value of the stock is not represented (Armour and Cheffins, 2016). However, when the confidence about the share prices is present and identification of the intrinsic worth of organization is made, the offers of cash tenders are the prevailing method of acquisition. Hence, the bids of take over and exchange tender proposals are made if the reliable assumptions are achieved.

个人陈述

The researchers have developed the claim on the basis of the efficient market hypothesis of Fama that the share price does not essentially have to be the barometer of the intrinsic organizational value, but it is the belief of the investors over the accuracy (Armour and Cheffins, 2016). Therefore, the semi-strong form of the efficient market hypothesis was the basis for this development.

 

personal statement 代写

personal statement 代写

该研究强调,最好的知情投资者只能对真实的组织共享价值进行评估。这意味着,即使公众和非公开信息是由投资者获得的,组织所面临的未来挑战,以及董事会故意持有的信息,都可能导致不准确的股价(甲和Cheffins, 2016)。因此,股票市场的波动受到投资者最佳假设的影响,这表明市场对于组织或某一特定行业未来前景的共识可能是不准确的。因此,股票价格被认为是对商业价值假设的最佳选择,因为它包含了公共信息。研究人员声称,上述发现是由于投资者的行为,包括对公司业绩评估的强烈财务动机,将对股价(甲和Cheffins, 2016)进行控制。

personal statement 代写

价格的准确性和信息效率的均衡性是基于两个不同的因素。这些因素是由研究人员提出的,这些因素是由投资者获得的信息的可用性和方式的程度和性质。此外,研究表明,市场的四种机制是有效的资本市场假说,即它在效率下降的过程中发挥作用。研究人员建议,如果在知情的交易中考虑到对价格敏感的信息(装甲和Cheffins, 2016),股票的价格应该在半高的效率中以一致的方式运作。然而,如果交易是基于不知情的方式,结果将会不同。

personal statement 代写

The study emphasis that the best informed investors can merely make the estimations of the organizational share values that are real. This implication is made with the consideration that even if the public and non-public information is obtained by the investor, the future challenges faced by the organization and purposely held information by the board of directors can result in inaccurate share prices (Armour and Cheffins, 2016). Hence, the stock market fluctuations are influenced by the best assumptions of the investors, this indicates to the fact that the market consensus about the future prospects of the organization or a particular industry can be inaccurate possibly. Hence, the share price is considered as the best option available for the assumptions about the business value due to the public information it incorporates. The above findings are claimed by the researchers to take place due to the actions of the investors comprising of strong financial motivations for the corporation performance evaluation will be performed to the control of the share price (Armour and Cheffins, 2016).

personal statement 代写

The manner in which the price accuracy and information efficiency is equated is based on the two distinct factors. These factors are suggested by the researchers to the extent and nature of the information availability and manner in which it is obtained by the investors. Moreover, the study indicated that the four mechanism of the market implies by the efficient capital market hypothesis is that it functions in the declining efficiency. It is suggested by the researchers that the prices of share should function in a consistent manner within the semi-strong efficiency if the informed trading takes place with consideration to the information sensitive to price (Armour and Cheffins, 2016). However, the outcome will differ if the trading is based on uninformed manner.

英国论文抄袭

英国论文抄袭

研究人员认为,对股价效率和收购报价的考虑,与股价有关的效率方面,在不同的角度考虑和理解是至关重要的。通过有效的资本市场假说(装甲和Cheffins, 2016),可以理解股价及其效率。弱者,半强势和强形式的假设是声称考虑股票市场运作在半强势效率方面如果股票的价格展示的信息公开和市场弱式效率可以承认如果他价格展示所有信息出现在过去的股票价格。研究人员认为,如果市场达到了这些形式的效率标准,那么对之前价格波动的评价将无法预测未来价格走势。因此,假设“强势市场的主张”展示了公共和非公众的所有信息(装甲和Cheffins, 2016)的价格。

英国论文抄袭

本研究的文献表明,即使在股票市场中存在信息效率的情况下,投资者也需要继续进行,以确保对股票价格效率的唯一依赖不应该是这种情况。这是在投资者经常得出的结论,即有效价格将被认为是正确的,并且是对未来的净案例流动的高可靠性的指标,并高估了潜在的证券价值(Armour and Cheffins, 2016)。其中一名研究人员认为,资本市场是无摩擦的,而价格证券是对股票固有价值的最有效估值。这一论断暗示,信息有效的股票价格并没有显示出投资者所建议的进一步调查的根本效率。

英国论文抄袭

It is implied by the researchers that the consideration of the share prices efficiency and the bids of takeover, the aspect of efficiency related to the share price are essential to consider and understand in varied perspectives. The share prices and its efficiency can be understood through the efficient capital market hypothesis (Armour and Cheffins, 2016). The weak, semi-strong and the strong form of hypothesis are taken into account for claiming that the stock market operates with efficiency within the semi-strong aspect if the prices of share showcases the information that is publicly available and the market efficiency in the weak form can be recognized if he prices showcase all information present in the past prices of share. It is argued by the researchers that if market meets the efficiency standard of these forms, the evaluation of the prior fluctuations in the price will not enable the forecast of the future movements of the price. Therefore, the hypothesis’ claim of strong market to showcase the prices of share with all information both public and non-public (Armour and Cheffins, 2016).

英国论文抄袭

The literature of this study implies that the investors are required to proceed with causes even if the informational efficiency is present in the stock market to ensure that sole reliance on the share price efficiency should not be the case. This is stated as the investors often conclude that efficient prices will deem to be correct and are the indicators of high reliability for the future flows of net case and overestimates the underlying securities value (Armour and Cheffins, 2016). One of the researchers argues that the capital markets are frictionless and price securities are at the most effective estimate of the value that is intrinsic to the stock. This assertion implies that the informational efficient stock prices do not suggest fundamental efficiency due to which further investigation is suggested on the part of the investors.

論文代寫價錢

論文代寫價錢

研究结果表明,随机漫步的各种测试结果表明,随机漫步在DSE中是不存在的。这种随机性的偏差可能是由于市场上的流动性不足,市场参与者缺乏经验,交易清淡(Abbas, 2014)。该研究为投资者提供了证据和暗示,说明交易量和历史价格,以及对大马士革证券交易所市场回报的预测。因此,投资者有可能产生不正常的利润。然而,重要的是,投资者认为,由于缺乏流动性和效率低下的市场(Abbas, 2014),存在重大损失的可能性。由于DSE既是新生市场,又是年轻市场,因此,美国证券交易委员会(Securities and Exchange Commission,简称sec)需要对信息效率的提高进行一定程度的评估,并向投资者灌输信心。

論文代寫價錢

另一篇由Fama所做的贡献,并在有效市场假说的基础上进行研究的文章,是由John Armour和Brian Cheffins开发的,其主题是股票市场价格和企业控制市场(Armour and Cheffins, 2016)。在本研究中,Fama的贡献被扩展到对公司收购的评估中,以了解公司的股票市场和股票价格。

論文代寫價錢

The overall findings made from the research indicate that the variety of tests for the random walks lead to the conclusion that the random walks are absent in the DSE. The deviation from the randomness can be due to the illiquidity in the market, experience lacked by the participants of the market and thin trading (Abbas, 2014). The study provides with the evidence and implication for the investors that the volume traded and the historical prices and enable prediction of the market returns in the Damascus securities exchange. Therefore, there is a possibility of making abnormal profits by the investors. However, it is essential that the investors consider that there is a probability of major losses due to the illiquid and inefficient market (Abbas, 2014). Since the DSE is both nascent and young market, the Securities and Exchange Commission is required to apply certain measured for the information efficiency improvement and for instilling the confidence among the investors.

論文代寫價錢

Another article that the contribution made by Fama and developed the study on the basis of the efficient market hypothesis is developed by John Armour and Brian Cheffins with the topic of the stock market prices and the market for corporate control (Armour and Cheffins, 2016). The contributions of Fama are extended in this study for evaluating the corporate takeover with understanding of the stock market and stock prices of the organization.

 

个人陈述代写-证券交易

个人陈述代写

从文献研究中发现,大马士革证券交易所是叙利亚地区唯一的股票市场。金融证券和市场委员会负责监督和监管DSE (Abbas, 2014)。股票市场在2009年出现,当时只有6家公司上市。虽然上市组织的总数有所增长,但仍低于50。其中一个考虑因素是,DSE的开放发生在全球金融危机中,随后发生了地方和地区政治危机。DSE的上市组织分为五个部分:银行、服务、保险、农业和工业。

个人陈述代写

由于上市公司中大多数是银行,银行业占据了主导地位。此外,股票市场的划分是主要的和增长的市场。增长市场进一步细分为A和B (Abbas, 2014)。研究人员进一步建议,主要市场内的上市公司与成长型市场中的上市公司相比,具有临时的指标。在结束时,相关价格的自然对数是确定的,并以连续的方式(Abbas, 2014)计算出复合回报的时间序列的每日间隔。这是由研究人员使用以下公式进行的: 在这个等式中,Pt和Pt -1说明了分别在t和t-1 (Abbas, 2014)中股票指数的价格。

个人陈述代写

It was surfaced from the research of the literature that the Damascus Securities Exchange is the sole stock market in the region of Syria. The Commission on Financial Securities and Markets is responsible for the monitoring and regulation of the DSE (Abbas, 2014). The stock market emerged recently in the year of 2009 with mere six organizations listed. Even though, there had been growth in the total number of listed organizations, but numbers are still below 50. One of the factors taking into account is that the opening of DSE took place within the global financial crisis and the local and regional political crisis took place subsequently. The listed organizations of DSE are categorized in five segments, banking, services, insurance, agriculture and industrial (Abbas, 2014). The banking sector is dominating the stock exchange as majority of the companies listed are banks. Furthermore, the division of stock market takes place as main and growth market. The growth market is further segmented as A and B (Abbas, 2014). The researcher further suggested that the listed companies within the main market holds improvised indicators as compared to the listed organization in the Growth market.

个人陈述代写

The natural log of the associated prices at closing is determined and calculated for the daily intervals for the production of time series of the compounded returns in a continual manner (Abbas, 2014). This was performed by the researcher with the use of following equation: In this equation, the Pt and Pt -1 illustrated the price of the stock index at the respective time t and the t-1.

 

英國代寫-股票市场

英國代寫

在Fama的研究出现之后,全球各地的研究人员开始调查各个股票市场的股票市场的随机性,以找出国家(Abbas, 2014)的效率形式。然而,大多数研究人员关注的是发达国家和新兴国家,因为中东的股票市场没有受到关注,在研究中受到的关注较少。文献已经证实,对大马士革证券交易所(DSE)的随机性的审查比较少。新兴的股票市场价格波动很大,DSE也很年轻,并且对交易的看法(Abbas, 2014)。因此,对叙利亚股票市场中随机游走的特征进行调查,为对市场效率的实证研究和对中东地区的随机漫步行为做出贡献成为必要。

英國代寫

研究人员使用各种技术来检测线性和非线性依赖(Abbas, 2014)。在异方差和同方差的分布假设中,进行了方差和相关比的估计,并进行了非参数性检验,并利用BDs检验进行了序列相关性的评价。

英國代寫

After the emergence of the Fama’s research, various researchers across the globe started to investigate the stock market randomness across various stock markets to find out the form of efficiency present in the nations (Abbas, 2014). However, majority of the researchers focused on the developed and emerging nations due to which the stock markets of Middle East was left out of the focus and gained less attention within the studies. The literature has established that the examination of the randomness of the Damascus securities exchange (DSE) was less. There is high price volatility in the nascent stock markets and the DSE is both young and think on trading (Abbas, 2014). Therefore, it becomes essential for the investigation of the characteristics of random walk within the equity market of Syria for making contribution to the empirical literature on the market efficiency and random walk behaviour with emphasis on the Middle East region.

英國代寫

The researcher used varied techniques for the detection of both linear and non-linear dependency (Abbas, 2014). The parametric evaluation was performed in which the variance and correlation ratio rests were undertaken for the random walks within the distributional assumptions of the heteroscedasticity and homoscedasticity along with the tests of non-parametric nature made used the BDs test for the evaluation of serial correlation.

 

ps代写-行为理论

ps代写

根据阿巴斯(2014)的观点,随机漫步行为理论与有效市场理论相关联。研究人员认为,只有股票市场在本质上是有效的,价格的连续变化将是独立的,随机漫步将遵循价格(Abbas, 2014)。在本文中,他引用了许多基于Fama随机游走理论的文章。在全球股票市场的股票回报中,调查了随机漫步的行为。通过对文献的回顾发现,研究人员对股市回报行为没有达成共识(Abbas, 2014)。人们认为,随机漫步假说所表达的各种贡献已被证明有利于发达的股票市场。一些研究人员和作者发现,德国、英国、西班牙、瑞典、葡萄牙和爱尔兰的欧洲市场与随机漫步假说(Abbas, 2014)一致。然而,法国的市场与随机漫步的需求是一致的。

ps代写

研究人员指出,随机漫步假说并不适用于美国,而且来自发展中国家的经验证据相互冲突和混合。在某些研究中,弱形式的效率与墨西哥、智利、阿根廷和巴西的股票市场(Abbas, 2014)的随机行走假说相关联。然而,其他国家却对随机行走假说的有效性提出了强有力的支持,并拒绝了智利、巴西、中国、墨西哥、韩国、印度、委内瑞拉、哥伦比亚、秘鲁、巴西和阿根廷等新兴和发展中国家的弱形式效率。当中东和北非市场进行调查时,人们发现,经验主义的文献已经拒绝了在确定区域内的国家的股票回报的随机性。

ps代写

According to Abbas (2014), the random walk behaviour theory is associated with the theory of efficient market. It is regarded by the researcher that only if stock market is efficient in nature, the successive change of the price will be independent and the random walk will be followed by the prices (Abbas, 2014). In this paper, he has cited many articles that have developed and based on the random walk theory of Fama. The behaviour of random walk was investigated within the stock returns across the global stock markets. It has been identified through the review of literature that there be no consensus agreed by researcher about the stock market returns behaviour (Abbas, 2014). It is considered that the variety of contributions articulated on the random walk hypothesis has proven to be in favour of the developed stock markets. Several researchers and authors have identified that the European markets of Germany, United Kingdom, Spain, Sweden, Portugal and Ireland showcases consistency with the random walk hypothesis (Abbas, 2014). However, the market of France is aligned with only few of the random walk requirements.

ps代写

The researchers have indicated that the random walk hypothesis is not applicable for the United States and there are conflicting and mixed empirical evidence from the developing nations. Weak form of efficiency is linked by certain researches without rejecting the random walk hypothesis for the stock markets of Mexico, Chile, Argentina and Brazil (Abbas, 2014). However, the others have surfaced strong support against the random walk hypothesis validity and rejected the efficiency in weak form across the emerging and developing nations of Chile, Brazil, China, Mexico, Korea, India, Venezuela, Columbia, Peru, Brazil and Argentina. As the Middle Eastern and North African Markets were investigates, it was found that the empirical literature has rejected the stock returns randomness across nations in identified regions.

 

论文辅导

论文辅导

Fama对于有效假设市场的概念并不会导致投资者有能力准确地识别未来的市场价格。它提出的关键观点是,目前市场上的价格是客观性质的价格,因为它涉及到可获得的信息。然后,股票市场的价格以一种随机的方式表现,因为投资公司一直在进行股票市场分析。他们也不断地在他们的投资决策中反映新的数据。这里的意义在于,法玛为这一假设做出的声明,以及在此基础上进一步发展的方式。这一假设进一步导致了对股票市场效率不是恒定不变的事实的调查,但它一直在变化(Fama, 1965)。这是因为,不仅股票市场的流动性存在差异,而且投资环境也发生了一些变化。这可能会导致新信息的迅速复杂化。本文提供的这些假设和证据有助于形成较新的理论和模型。

论文辅导

论文对目前金融文献的影响。法玛被认为是最重要的研究人员之一,它展示了理论的正式审查,以及随机漫步理论和市场效率假说的证据。由于《法玛报》的篇幅很长,所以无法从目前的文献发展的角度来解释整篇论文。因此,为了展示法玛文章对当代文学的贡献,将会有三到四篇关于股票市场理论的论文。

论文辅导

The concept of Fama for the efficient hypothesis market does not result in anticipating that investors have the ability of identifying faultlessly, the future market price. The key claim it made is that the present price in the market is a price of objective nature as it involves ever information ratemaking available. Then, the prices of stock market behave in a random manner as investment makers consistently undergo stock market analysis. They also continuously reflected on new data within their decisions for investment. The significance here lies in the claims that Fama made for this hypothesis and the way in which further development has occurred over it. The hypothesis further led towards investigation over the fact that the stock market efficiency is not something of a constant nature but it keeps changing (Fama, 1965). This is because not only there is difference in the liquidity of stock markets, but also there are some changes in the environment of investment. This can result in speedily complicating the new information for rate making. Such assumptions and evidences provided in the article helped in shaping newer theories and models.

论文辅导

Impact of paper to the present financial literature: Fama is regarded as one of the most essential researchers that showcased the formal review of the theory as well as the evidence for both the random walk theory along with the market efficiency hypothesis. As the paper of the Fama is lengthy, the entire paper cannot be explained in terms of the current literature development. Hence, three to four recent papers on the topic of stock market theories will be undertaken in order to show the contribution of Fama’s article on the current literature.