2013年12月英语六级外刊的阅读股票研究经济学
<p> 查看汇总：</p><p> <span word="The">The</span> <span word="economics">economics</span> <span word="of">of</span> <span word="equity">equity</span> <span word="research">research</span></p><p> 股票研究经济学</p><p> <span word="Analyse">Analyse</span> <span word="this">this</span></p><p> 分析分析</p><p> <span word="The">The</span> <span word="old">old</span> <span word="model">model</span> <span word="of">of</span> <span word="stockmarket">stockmarket</span> <span word="research">research</span> <span word="is">is</span> <span word="changing">changing</span></p><p> 股市研究的旧模式正在改变。</p><p> <span word="Sep">Sep</span> 21<span word="st">st</span> 2013 |<span word="From">From</span> <span word="the">the</span> <span word="print">print</span> <span word="edition">edition</span></p><p> <span word="EQUITY">EQUITY</span> <span word="research">research</span> <span word="is">is</span> <span word="meant">meant</span> <span word="to">to</span> <span word="benefit">benefit</span> <span word="both">both</span> <span word="providers">providers</span> <span word="and">and</span> <span word="recipients">recipients</span>. <span word="It">It</span> <span word="ought">ought</span> <span word="to">to</span> <span word="help">help</span> <span word="investors">investors</span> <span word="to">to</span> <span word="allocate">allocate</span> <span word="money">money</span> <span word="more">more</span> <span word="profitably">profitably</span>. <span word="And">And</span> <span word="the">the</span> <span word="banks">banks</span> <span word="that">that</span> <span word="give">give</span> <span word="their">their</span> <span word="clients">clients</span> <span word="free">free</span> <span word="access">access</span> <span word="to">to</span> <span word="research">research</span> <span word="hope">hope</span> <span word="that">that</span> <span word="it">it</span> <span word="will">will</span> <span word="help">help</span> <span word="them">them</span> <span word="generate">generate</span> <span word="revenues">revenues</span> <span word="from">from</span> <span word="equity">equity</span> <span word="trading">trading</span>. <span word="But">But</span> <span word="neither">neither</span> <span word="party">party</span> <span word="is">is</span> <span word="much">much</span> <span word="satisfied">satisfied</span> <span word="by">by</span> <span word="the">the</span> <span word="conventional">conventional</span> <span word="model">model</span>.</p><p> 股票研究本应发行者和股东双双受益。应该帮助投资者更有利润的分配资金。为客户提供免费研究报告的银行希望这会帮助客户从股权交易中去的收益。但是双方对常规的模式都不满意。</p><p> <span word="Start">Start</span> <span word="with">with</span> <span word="the">the</span> <span word="banks">banks</span>. <span word="A">A</span> <span word="fall">fall</span> <span word="in">in</span> <span word="trading">trading</span> <span word="revenues">revenues</span> <span word="makes">makes</span> <span word="the">the</span> <span word="economics">economics</span> <span word="of">of</span> <span word="providing">providing</span> <span word="research">research</span> <span word="less">less</span> <span word="attractive">attractive</span>. <span word="Between">Between</span> 2009 <span word="and">and</span> 2013, <span word="total">total</span> <span word="equity">equity</span>-<span word="trading">trading</span> <span word="commissions">commissions</span> <span word="paid">paid</span> <span word="to">to</span> <span word="brokers">brokers</span> <span word="fell">fell</span> <span word="from">from</span> $13.9 <span word="billion">billion</span> <span word="to">to</span> $9.3 <span word="billion">billion</span> <span word="in">in</span> <span word="America">America</span>, <span word="and">and</span> <span word="from">from</span> <span word="euros">euros</span> 4.2 <span word="billion">billion</span> <span word="to">to</span> <span word="euros">euros</span> 3 <span word="billion">billion</span> <span word="in">in</span> <span word="Europe">Europe</span>, <span word="according">according</span> <span word="to">to</span> <span word="Greenwich">Greenwich</span> <span word="Associates">Associates</span>, <span word="a">a</span> <span word="consultancy">consultancy</span>. <span word="The">The</span> <span word="rise">rise</span> <span word="of">of</span> <span word="passive">passive</span> <span word="investing">investing</span> <span word="and">and</span> <span word="the">the</span> <span word="spread">spread</span> <span word="of">of</span> <span word="algorithmic">algorithmic</span> <span word="trading">trading</span> <span word="have">have</span> <span word="both">both</span> <span word="reduced">reduced</span> <span word="margins">margins</span> <span word="and">and</span> <span word="dampened">dampened</span> <span word="demand">demand</span> <span word="for">for</span> <span word="research">research</span> <span word="produced">produced</span> <span word="by">by</span> <span word="and">and</span> <span word="for">for</span> <span word="humans">humans</span>.</p>
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