超额的

Launch 4.8 billion euros in the fiscal austerity program the day after, plans to raise 5 billion euros of Greece's 10-year bond auction proceeded smoothly, subscription amount of about 14.5 billion euros, a serious excess.

在推出48亿欧元财政紧缩计划后一天，希腊计划筹资50亿欧元的10年期国债拍卖进展顺利，认购额大约145亿欧元，严重超额。

But the risk of overpayment in a secondary buy-out is great.

但是二次收购超额支付的风险很大。

Chapter 4 Analysis the impact of asset prices on commodity prices by the excess money supply.

第四章主要分析我国超额货币供给对资产价格和商品价格的影响。

To prepare on-time competitive technical and commercial tender contributing to meeting or exceeding of the total objectives of the JV Company.

按时制作具有竞争力的技术及商务标书，为合资公司完成或超额完成总指标作出贡献。

The empirical studies of the 4-Factor Model show that after removing emerging market, energy, and mineral funds, the persistence of mutual fund performance is sound but the top decile portfolio of funds is not with better stock picking ability than the bottom one.

实证结果发现，股票型基金绩效在移除新兴、能源、矿业基金后，超额报酬延续前一期表现排名的状况趋明显。

This is like a few years ago, speculation in the stock market a new, entirely by virtue of access to excess capital.

这就像几年前，投机股市一个新的，完全凭借获得超额资本。

The main results are: given n - 1 polynomials satisfying some conditions,then each polynomial can represent an excess demand function for corresponding commodity.

p1，p2，…，pn－1），s＝1，2，…，n—1，若满足条件：则Es，s＝1，2，…，n—1均为一个经济的超额需求函数。

But in China, we still pay interest for required reserve and excess reserves.

但在中国，我们仍然需要支付利息的储备金和超额储备。

In the part of empirical analysis of Chinese IPO first-day return, the difference between existing study and this study is that we use principal components analysis to extract from five factors to construct investors'sentiment index, add it to controled varibles, on which we examine the influence of offering mechanism on IPO first-day return. Moreover, we gather statistics and compare the IPO holding return for lockup period between fixed-price-class offering method and bookbuilding-class offering method, as well as price range between Chinese A-share market and Hongkong stock market, which prvide comprehensive evidence to appraise Chinese IPO bookbuilding mechanism. 2. Compare to the existing literatures which consider discount or allocation, incentive allocation and discount are considered at the same time in optimal mechanism design in this dissertation, and the offering bottom price is introduced to the price range. We investigate the relationship between price range and allocation quantity, and obtain the optimal price range and allocation strategy so that the advantages of independent allocation are reflected. On the other hand, the disadvantages of independent allocation are reflected in the manipulation in case of no restriction on IPO allocation. To distinguish from the existing literatures, bookbuilding mechanism is introduced to the model. We study the allocation strategy adopted by the underwriter in the pooling equilibrium of manipulation. In addition, we analyze the incentive compatibility conditions to which the existence of pooling equilibrium should satisfy and examine some factors'impact on the existence of manipulation.3. In bookbuilding without independent IPO allocation, Chinese realistic IPO background is considered and the condition of bookbuilding and fixed-price hybrid offering is added. Divide bookbuilding and fixed-price hybrid offering into sequential hybrid and simultaneous hybrid, and point out that the key points of subscription strategy in the two kinds of hybrid are different. Through modeling and simulation we obtain the impact of institutional investors'subscription strategy on bookbuilding without independent IPO allocation, which fill the gap in related research. Moreover, in the part of IPO bookbuilding with over-allotment option, the pricing strategy is divided into hot-IPO strategy and weak-IPO strategy. Take into account the procedure of Chinese IPO with over-allotment option, it presents how the underwriter determines the pricing strategy and what effect it brings to offering price and issue size through modeling and simulation. Therefore, it is instructive as a complement to existing literatures.

此外，对我国A股市场询价发行方式与固定价格发行方式下的IPO锁定期到期时持有收益率、以及我国A股市场与香港市场的询价发行价格区间进行了统计比较，为评价我国IPO市场的询价发行提供了比较全面的依据。2、相比已有文献仅考虑折价和分配中的一种激励措施，本论文在有自主配售权下的机制设计中并用了分配与折价两种激励措施，并且在价格区间的制定中引入发行底价，考察了价格区间与分配量之间的关系，得到最优的价格区间和分配策略，从中体现自主分配权的优点；在有自主分配权下的操纵行为研究中则体现了自主配售权的弊端，与已有文献不同的是，在模型中引入了累计投标询价机制，研究了承销商在混同均衡操纵中采取的分配策略，并对操纵存在的条件进行分析讨论，得出各个因素对混同均衡操纵存在的影响。3、在无自主分配权下的询价发行中，充分考虑了我国实际应用的背景，加入了与固定价格发售混合的条件，并将询价与固定价格混合发行分为序贯与同步两种方式，指出机构投资者在两种情况下申购策略的侧重点各有不同，通过对序贯混合发行方式下的网下累计投标策略以及同步混合发行方式下的资金分配策略的模型建立和数值仿真，考察了机构投资者申购策略对无自主分配权下的询价发行的影响，填补了相关研究文献的空白；在包含超额配售选择权的询价发行中，将发行定价策略分为热销策略和弱销策略，在考虑了我国含超额配售选择权的发行流程下，通过建模以及数值仿真得出承销商会对发行定价策略作出怎样的选取，进而会对新股发行价格、发售数量产生怎样的影响，对目前相关研究的缺乏做出了有益的补充。

Where two or more policies are effected by or on behalf o f the assured on the same adventure and interest or any part thereof, and the sums insured exceed the indemnity allowed by this Act, the assured is said to be over-ins ured by double insurance (2)Where the assured is over-insured by double insurance The assured, unless the policy otherwise provides, may claim payment from the insurers in such order as he may think fit, provided that he is n ot entitled to receive any sum in excess of the indemnity allowed by this Act;Where the policy under which the assured claims is a valued policy, the assured must give credit as against the valuation for any sum rec eived by him under any other policy without regard to the actual value of the subject-ma tter insured;Where the policy under which the assured claims is an unvalu ed policy he must give credit, as against the full insurable value, for any sum rec eived by him under any other policy; Where the assured receives any sum in excess of the indemnit y allowed by this Act, he is deemed to hold such sum in trust for the insurers acco rding to their right of contribution among themselves.

1当被保险人或其代表，就同一冒险和利益或其中的一部分订立了两 32。份以上的保险单，且保险金额超过本法所允许的赔偿限额时，被保险人即被视为因重复保险而超额保险。(2)在被保险人因重复保险而超额保险之场合：除非保险单另有规定，被保险人可根据自己认为合适的顺序，依次向其保险人索赔，但他所得金额不得超过本法允许的赔偿限额；如果被保险人凭以索赔的保险单是一份定值保险单，被保险人必须将其他保险单项下他已收取的任何数额从约定保险价值中扣除，无需考虑保险标的的实际价值；如果被保险人据以索赔的保险单是一份不定值保险单，被保险人必须将其他保险单项下他已收取的数额从全部保险价值中扣除；若被保险人得到的金额超过本法所允许的赔偿额，则此种超出金额即被视为由被保险人代各保险人托管，由保险人按他们之间的分摊权利摊回。

Chrysanthemum of 10 thousand birthday is lax to edaphic requirement, with the arenaceous qualitative loam with fecund, good drainage had better.

万寿菊对土壤要求不严，以肥沃。排水良好的砂质壤土为好。

He unstepped the mast and furled the sail and tied it.

他拔下桅杆，把帆卷起，系住。