However, the evolution of labor division depends on the transactional efficiency 然而,分工的深化又受到交易效率的制约。
Therefore, division of labor is restricted not only by market scale or scope, but also restricted by transactional efficiency in the arrangement of institutions 因此,分工不仅受市场规模或范围的限制,实际上也受制度安排中交易效率的限制。
Thus, we explore the roles of social capital on improving transactional efficiency, promoting the evolution of labor division, and boosting industrial cluster development 于是,我们探讨了集群特有的社会资本对于提高交易效率、从而推动分工演进、促进集群发展这一作用的过程。
The efficiency of stock market includes the pricing efficiency, transactional efficiency, informational efficiency and capital-allocation efficiency within the market and external efficiency outside the market 股票市场的效率包含市场内部的定价效率、交易效率、信息效率和资本配置效率,以及市场的外部效率。
Applying the theories of corporate governance structure, corporate performance and efficiency of stock market to analyze china's cases, we found that the transactional efficiency of chinese stock market is internationally advanced . but its pricing efficiency, informational efficiency, capital-allocation efficiency, external efficiency and corporate performance are poor . the wealth effect of stock market and its impact to marcoeconomy are not influential 我们运用公司治理结构、公司绩效和股票市场效率的理论对进行中国实证分析后发现,中国股票市场的交易效率已经达到国际领先水平,但定价效率、信息效率、资本配置效率和外部效率以及上市公司绩效都比较低下,股票市场的财富效应及其对宏观经济变量的影响不显著。