The second part is the analysis of liquidity risk of open-end fund.
第二部分是开放式基金流动性风险分析。
Above all, conceive the system for open-end fund performance appraisal.
并在此基础上，构建我国开放式基金绩效评价体系。
Therefore, it is necessary to rebuild an open-end fund consignment system.
因此，重新构建开放式基金代销系统势在必行。
Therefore, the study of China's open-end fund risk and its prevention is of great practical significance.
因此，研究我国开放式基金的风险及其防范，具有重要的现实意义。
Well, if you hope for capital increment at a low risk, maybe, open-end fund is one of your desirable choices.
如果您希望低风险低获得资本增值，开放式基金是比较理想的选择之一。
Commissioned a way to support the market, increasing trade Netcom main station in support of open-end fund trading.
支持市价委托方式，增加网通交易主站，支持开放式基金交易。
The thesis also has analyzed the influence of the scale of open-end fund in both of the Angle of macroscopic and microscopic.
本文还从宏观和微观两个角度分析了股票型开放式基金规模的影响因素。
In the thesis, the methods of volatility research on open-end fund market are introduced firstly and GARCH models are well discussed.
本文首先回顾了开放式基金市场波动性研究的方法，详细讨论了GARCH类模型。
In this case, through the study of stock index futures to guard against the risk of open-end fund in China is of great realistic significance.
在这种情况下通过研究股指期货来防范开放式基金的风险，在我国具有重要的现实意义。
On the other hand, commercial banks' active involvement and strong support naturally becomes the crux of the smooth operation of open-end fund.
而商业银行的积极介入和大力支持也成为开放式基金顺利运作的关键。
Existing financial electronic networks and outlets are used to provide investors with open-end fund services platform by Fuxing bank open-end funds.
福兴银行的基金代销系统是该银行利用现有的金融电子网络和网点，为投资者提供的开放式基金服务平台。
Based on chapter 1, the following three chapters study open-end fund liquidity risk management in terms of assets, liabilities and policy separately.
在第一章的理论基础上，后三章从资产、负债和政策三个角度来研究开放式基金流动性风险管理。
Article 5 in a fund contract the mode of operation of the fund shall be specified. There may be closed-end funding, open-end funding and other modes.
第五条基金合同应当约定基金运作方式。基金运作方式可以采用封闭式、开放式或者其他方式。
Therefore, it is important theoretical and practical significance that how to effectively analyze, respond to and resolve open-end fund of market risk.
因此，研究如何有效地分析、应对和化解开放式基金的市场风险，就具有重要的理论意义和现实意义。
These years, in terms of quantity or size, the open-end fund has gradually replaced the closed-end fund and become the mainstream variety of Chinese fund market.
近年来，我国开放式基金无论在数量还是规模上都逐渐取代了封闭式基金，成为基金市场的主流品种。
Until the end of 2009, there are 66 fund managing companies that manage 611 funds in China: 575 open-end funds and 36 close-end funds. 94% of all funds are open-end funds.
截至2009年底，我国基金管理公司共有66家，管理的基金数量共有611只，其中开放式基金有575只，封闭式基金有36只，开放式基金的数量达到发行基金的94%以上。
Open-end fund's withdrawals can be destructive to fund operation and liquidity risk, so it is significant for us to study the influence factors of open-end fund's net outflows.
基金的净赎回会给基金的运作管理和流动性风险带来不利的影响，研究基金净赎回的影响因素显得十分重要。
Then, come to our open-end fund performance evaluation results from the fund's technical efficiency and scale efficiency, in terms of the direction to improve performance level.
然后，从基金的技术效率与规模效率方面，提出改进业绩水平的方向。
The conclusions of this empirical study are as the following:the introduction of open-end fund has served to stabilize the Chinese stock market and reduce the volatility therein.
本研究的实证结果认为：开放式基金的推出，对中国股市确实起到了降低波动性、稳定股市的作用；
As the number of domestic open-end funds growing, and the scale continues to expand, open-end fund sales agency business in the commercial importance of Banks has also been improved.
随着国内开放式基金数量的不断增多、规模的不断扩大，开放式基金代销业务在各商业银行中的重要性也在不断的提升。
The last part of the article provide some advice to improve information disclosure system in accordance with the current situation and problems in the proposed open-end fund in China.
文章最后一部分根据基金信息披露的现状和存在的问题，提出了改善我国开放式基金信息披露制度，提高信息披露质量的相关建议。
So scientific performance evaluation of stock open-end fund and finding out all the factors that affect performance of stock open-end fund have a great significance for fund investors.
因此，科学合理地评价股票型开放式基金业绩并分析其影响因素，对投资者来说至关重要。
With the analysis under the incomplete contract theory and principal-agent theory, there is no such an optimum governance structure for open-end fund either contract style or corporate style.
从不完全契约理论和委托代理框架的视角分析开放式基金治理结构，可以得出不存在最优的治理结构的结论。
Therefore, the good or bad management of open-end fund risk not only affect the fund's performance, affecting the interests of fund holders, but also affect the operation of the financial system.
因此开放式基金风险管理的成效不仅影响基金的业绩，影响基金持有人的利益，还会影响金融体系的运行。
Owing to the open-end fund can be purchased and redeemed freely. The scale of the open-end fund can be varied from different actions taken by investors, who can purchase or redeem the fund freely.
开放式基金具有可以自由申购和赎回的特征，同时，开放式基金的规模可以任由投资者申购和赎回的意愿而发生变动。
This paper investigates the influence of fund manager turnover on fund performance using a sample of open-end equity funds.
本文以开放式股票型基金为研究对象，实证研究了基金经理更换对基金绩效的影响。
This paper investigates the influence of fund manager turnover on fund performance using a sample of open-end equity funds.
本文以开放式股票型基金为研究对象，实证研究了基金经理更换对基金绩效的影响。
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