The initial return earned by uninformed investors was affected not only by publicly known pre-IPO market return but also by the turnover rate of stock transactions in the first day of trading.

无信息投资者获得的初始收益不仅受到发行前就已知的市场收益的影响，而且受到二级市场换手率的影响。

youdao

There are some shortcomings in current Chinese stock exchange turnover tax: levy scope is too narrow, tax rate is too high, the function of macroscopical adjustment is invalid, and so on.

目前我国证券交易流转税存在着征税范围过窄、税率偏高、宏观调节功能缺位等缺陷。

youdao

Despite the fact that SAS grants no stock options and a bonus program that can be described as modest at best, the Institute has an incredibly low turnover rate.

FORBES: Private matters