股利限制 的英文怎麼說

中文拼音 [gǔlìxiànzhì]
股利限制 英文
dividend restraint
  • 股 : Ⅰ名詞1 （大腿） thigh; haunches 2 （機關、企業、團體中的組織單位） section of an office or enterp...
  • 限 : Ⅰ名詞（指定的范圍; 限度） limit; bounds Ⅱ動詞（指定范圍, 不許超過） set a limit; limit; restrict
  • 制 : Ⅰ動詞1 （製造） make; manufacture 2 （擬訂; 規定） draw up; establish 3 （用強力約束; 限定; 管束...
  • 股利 : capital bonus
  • 限制 : place [impose] restrictions on [to]; astrict; restrict; limit; confine; shut down on [upon]: 限制...
  1. Firstly, some basic concepts are not clear, such as what is the status of the company under liquidation, how to define the action of the industrial - commercial authority ' s invalidation of the license of the company, whether or not the share holders can sue to disincorporate the company, is it legal to dissolve a company without liquidation, what is special liquidation, under what situation will a company be obliged to disincorporate, who will be responsible for liquidation after the dis incorporation, etc. secondly, some primary legislative principles about disincorporation and liquidation that are adopted in foreign countries are not established in china, such as a company must be liquidated before disincorporation except for acquisition, the company remains valid during the liquidation until it finishes the invalidation registration, an ordinary liquidation must be replaced by a special liquidation under the instruction of the court when there is an impediment or a fraud, the company should apply to the court for bankruptcy when it is found that its debt is over its asset during the liquidation, the number of people execute liquidation can be several or just one, companies applied for annulment shall be judged by the court and must be liquidated, etc. thirdly, china does n ' t have some of the fundamental rules that are specified in the laws of foreign countries, such as the rule of disincorporation registration, the rule that the company should sue to let the court judge for disincorporation if there is a deadlock between share holders, the rule of credit trade - off in special liquidation, the rule that people who execute the liquidation are jointly responsible for compensating the loss of the third party caused by their activities that are illegal or vicious, the rule of special liquidation, the rule of the representation of the people who execute the liquidation, the rule of the court supervising the liquidation in an inactive way, the rule of how long the accounts and documents should be kept after disincorporation, etc. because of the lack in research and legislation, the system for companies leaving the market is highly disorganized, which harmed the interest of the creditors and relevant people, increased the risk of market exchange, damaged the order of the market economy and the ethic of doing business, wasted the resources of the society, and impaired the authority and seriousness of the law

    再次，國外立法上的一些基本制度我國沒有，如解散登記制度，股東出現僵局訴請法院判決解散制度，特別清算中的債權協定製度，清算人因違法或惡意對第三人承擔連帶賠償責任制度，司法特別清算制度，清算人的代表性制度，法院消極監督清算制度，帳薄及文件在公司解散后保存法定期限制度等。由於理論研究和立法的不足，造成了我國公司法人退出市場機制的嚴重混亂，損害了債權人和利害關系人的利益，增加了市場主體交易不安全感，破壞了市場經濟秩序和商業道德，浪費了社會資源，削弱了法律的權威性和嚴肅性。文章認為，完善我國公司解散和清算制度，應借鑒和引進發達國家的法學理論和法律制度，統一我國有關解散和清算立法，在基本概念、基本原則、基本制度、基本程序諸方面進行統一規范，填補立法空白，創設法院解散公司制度，廢除行政特別清算制度代之以司法特別清算制度，健全和嚴格違反清算規定的法律責任制度（包括民事責任，刑事責任，行政責任，改變現行行政處罰范圍偏廣，民事賠償范圍偏窄，刑事追究空白太多的不協調狀況） ，從而構築起科學的公司解散和清算制度，使之符合我國經濟生活的客觀需求，符合市場經濟發展的基本方向，並與國外立法通例趨同。
  2. Therefore, the company law of the countries all over the world confer rights to learn the truth on shareholders, which including the right of inspecting financial accounting report, the right of inspecting books and records, the right of inquiry and the right of request for empanelling inspector. the author writes the paper to present the assumptions on how to perfect our system of shareholders ’ rights to learn the truth, by drawing on other countries ’ successful experience of legislation and analyzing the shortages of our existing laws. this article is composed with four chapters

    因此在借鑒各國公司立法經驗的基礎上，本文認為，要完善我國股東知情權制度首先應在我國公司法律制度中賦予股份有限公司股東查閱公司帳簿的權利，同時為防止股東濫用此項權利，應當對股東行使該權利時的正當目的、持股比例、持股時間以及行使程序上作出必要的限制;其次應當明確股東質詢權以及行使權利的范圍、程序，賦予股東在質詢權受到侵害時的訴權，並對法院的裁判賦予強制執行的效力，即責令董事會必須限期對股東的質詢作出充分說明。
  3. With the rapid development of the security stock market especially the stock market in chian ， issuing stock and circulating on market became the first choice of financing for more and more enterprise at the same time ， more and more investors are attracted by the relately high initial return of stock however ， the problem of ipos underpricing always exists in the stock market according to the data of more than one thousand chinese stocks ， most new issues had great raise in the first trade day ， and investors could acquire higher initial return than the average return of the stock market or the same industry we find that initial returns on a - share ipos average reached 132. 24 percent the main body of this paper is made up of six sections ： in the first part ， we introduced the method of the estimate of pricing decision ； in the second part ， we analyzed the method of the pricing decision and issuing system in china ， discussed the advantage and weakness of the various issuing methods ， and compared the economic efficiency between the examine and approve system and authorization system ； in the third part ， we analyzed the reason of ipo ' s underpricing in detail from information economics and other factors and combined with the environment of the chinese stock markets ， we analyzed the special characteristics in china and how they effect the ipo ' s underpricing in the fourth part ， we analyzed the data of chinese stock market with spss ， made a analysis of the administrative pricing decision and market pricing decision ， studied the underpricing phenomena of chinese stock market ， and analyzed it ' s causes ； in the fifth part ， we made a analysis of the examine approve system and authorization system ； and in the last part ， we drew some conclusions and put forth some policy advices the follow are the conclusions and policy advices in this dissertation ： （ 1 ） from the results of this empirical study ， we found that the issuing price - earning ratio and the market situation before ipos are strongly and positively associated with the underpricing of shares ， the issuing scale of ipo and the hit rate are strongly and negatively associated with the underpricing ； （ 2 ） we found that after the abolishing of ipo ' s p / e ratio and the using of authorization system ， there is no significant difference among the underpricing of shares ， but considered with the market entironment ， we think that the ipo ' s underpricing has been correspondingly reduced （ 3 ） to reduce difference between the primary market and the second market ， we suggested that we shall bring the " over - allotment option ( oao ) " to bear and resume the state - owned share and corporate - owned share to circulate on market as soon possible

    本文的主體由六個部分組成：第一部分介紹新股發行定價的估值方法；第二部分對我國的發行定價方式和發行制度進行分析，探討不同發行定價方式的優缺點，以及審批制和核準制經濟效率分析；第三部分從信息經濟學角度和其他因素的角度詳細分析造成新股發行抑價的原因，並結合我國股票市場實際情況，分析了我國市場的特有因素是否及如何影響一級市場的發行抑價程度的；第四部分利用統計分析軟體spss對我國新股行政化和市場化定價進行實證分析，主要包括新股發行行政化和市場化定價方式的實施情況和效果分析、新股發行行政化定價方式的實證分析，以及新股發行行政化和市場化定價方式的比較實證分析；第五部分利用統計分析軟體spss對我國新股發行審批制和核準制進行實證分析；第六部分是本論文的主要結論。本文的主要結論和建議有： （ 1 ）從實證分析結果看，我國新股發行抑價與市場環境、發行市盈率呈顯著正向關系，與發行規模、申購中簽率等呈顯著反向關系。 （ 2 ）取消發行市盈率限制和實施核準制等市場化改革措施並沒有降低發行抑價的絕對水平，只是由於市場環境的因素，發行抑價的相對水平才有所降低。
  4. In derivative suit, the articl e studied these issues : the parties, plaintiff ' s faith, right and obligation, demand requirement and the qualificatory request to plaintiff. security - for - expenses went gown very well with scholars, but the author does n ' t think so in view of actual facts in china

    在派生訴訟中，對當事人、前置程序、原告股東資格限制、對原告股東代表公正性的要求、原告股東的權利和責任等方面本文都一一討論並提出筆者自己的立法建議，但學者普遍接受的費用擔保制度筆者結合我國實際情況認為可暫不設立。
  5. Third, based on the guarantee code and citing the related articles from the corporation code, the receipt code, the insurance code and the copyright code, the author discusses the range and classification of the pledge rights over rights. also in this part, the author gives some new ideas about the set and realization of the pledge rights over security creditor ' s rights, the characteristics of the pledge rights over genral creditor ' s rights, the set and effect of the pledge rights over stock, the punitive restrictions in the pledge rights over knowledge and the characters of the pledge rights over immovables ' profit

    第三，以我國《擔保法》為主，結合《公司法》 、 《票據法》 、 《著作權法》等法律的相關規定，對權利質權的法定范圍和種類進行了論述。在分析了權利質權和動產質權的異同點后，闡述了權利質權的特點和種類。在證券質權的設定既實現、一般債權質權出質人的權利特點、股份質權的設定及效力、知識產權質權的處分限制、不動產收益質權的性質等方面提出了很多獨到的見解。
  6. To reduce the basis risk, this thesis offers a compound hedge policy on stock index futures and deduces the expressions of the hedge ratio in two instances when the cost is same or restricted. this paper analyses the investments of pension fund from 9 - 6 - 2003 to 7 - 10 - 2003, then it demonstrates the stock portfolio of pension found by the goal program model

    為了降低套期保值交易的基點差風險，本文提出了利用多種股票指數期貨對股票組合進行復合套期保值的策略，並給出了套期保值成本相同和限制套期保值成本兩種情況下的套期保值率公式。
  7. Lastly, the paper proposes five suggestions to restrict controlling shareholders to enlist self - interests from tunneling of cash dividend and to protect rights and interests of small and medium shareholders

    本文最後給出五點建議，試圖限制控股股東通過現金股利的「隧道效應」謀取私利，以保護中小股東的正當權益。
  8. 1 ) if bank capital are forbidden thoroughly to get into stock market, it will bring low profit on monetary market, constrict the development of capital market and affect the transmission of monetary policy ; 2 ) vice versa, allowing bank capital to flow into stock market too early may also lead to unfavorable effects, such as endangering financial stability, disturbing financial order and constraining the development of economy

    （ 1 ）限制銀行資金入市，造成了貨幣市場收益率低下，商業銀行、保險公司在貨幣市場上融出資金基本無利可圖，只好通過各種途徑違規進入股市；使資本市場失去資金支持，不僅造成市場流動性不足，還因缺乏基準利率參照而難以形成合理的定價機制，制約了資本市場的發展；影響貨幣政策的傳導，貨幣市場與資本市場的關聯性低，貨幣政策信號受阻，傳導路徑相對單一，貨幣政策效應的時滯加大。
  9. One exception was a minority equity limitation that applied to department stores over 20, 000 square meters and to " chain stores, " an undefined term, with more than thirty stores. - - in 2000, china s regulators defined " chain stores " to include any retail operation over 2 or more stores, calling into question the breadth of china s retail commitment. - - in shanghai, we clarified china s commitment on chain stores in a way that restricts the kinds of stores that will have equity limitations

    在上海，我們限定了有股份限制的商店種類，從而澄清了中國在連鎖店問題上的承諾。只有那些出售由多個供應商提供不同種類和品牌商品的商店，以及有30個以上分店的商店才有股份限制。這有效地恢復了中國對其它各種類型零售行業的承諾，並特別保護了汽車商的權利以及石油加工產品經銷商擁有30家以上全部控股商店的權利。
  10. The section restricts this avoidance practice by allowing the commissioner to refuse to set off losses brought forward where he is satisfied that the sole or dominant purpose of a change in shareholding is the utilisation of those losses to obtain a tax benefit

    若稅務局局長信納股份擁有權改變的唯一或主要目的，是為了利用累積虧損餘額而獲得稅項利益時，稅務局局長可以根據這條款拒絕以虧損抵銷利潤，從而限制此等避稅的做法。
  11. In order to balance equity and efficiency and realize balance mechanism, the company legislation should construct a double system of encouraging and holding : widen plaintiff and appeilee qualification ; ease the cost of plaintiff to depress sill of shareholders deputy litigation ; establish preceding procedure and litigation cost guarantee system ; restrain dealing right og plaintiff shareholders ; defini

    為了兼顧公平與效率，公司立法應當努力構築良好的激勵和約束的雙重機制:告資格，置程序，擴大被告范圍，減輕原告的費用負擔，以降低股東代表訴訟的門檻;放寬原設立前設立訴訟費用擔保制度，限制原告股東的處分權利，明確股東敗訴時的賠償責任，以防止股東代表訴訟的濫用。
  12. Although improvements on the stockholders ’ right to know had been made in the amendment of company law 2005, the relevant provisions still seem too simple and insufficient for carrying out. thus, supplements based on foreign successful legislative experience are necessary. this article holds that, due to lack of personnel and the cost of institution formation, we had better not entitle stockholders the right to ask for outsiders as inspectors at present ; because of the insufficiency in the rules of the right of

    本文認為，由於人才的匱乏及制度建設的成本，我國現階段還不宜引進檢查人選任請求權制度;鑒于現行公司法對股東質詢權制度尚付闕如，而質詢權的行使對于股東大會議決功能的充分發揮意義甚大，建議我國立法予以承認，詳細規定股東質詢權行使的條件、場合、目的性限制及救濟程序;股東帳簿查閱權雖然日趨完善，但仍需擴大股東查閱權的范圍、明確權利行使的條件、規定權利的邊界並落實具體的法律救濟程序。
  13. Based on the santa fe artificial stock market, the simulated experiments of different markets include market clear mechanism, price limited mechanism, and dividend mechanism markets are implement. and the bubble and frangibility of stock market are also studied by this method. the satisfactory results are gotten

    在聖塔菲人工市場的基礎上，我們分別對價格出清機制、漲跌停限制制度、股利制度，泡沫成因和股票市場的脆弱性進行了實驗研究，並取得了較為滿意的結果。
  14. After probing the practice of eso is developed countries, the author analyzed some operative problems in eso practice. these problems include : confirmation of the scope of beneficiary. transformation of future fight endowment, determination of the price of right execution, limitation of share cashing, etc. then the author analyzed the necessity for introducing the eso system into our country and discussed the significance of applying eso in modern corporations

    本文在研究了發達國家實施經理股票期權的做法后，分析了經理股票期權激勵存在的若干操作問題，即關于受益人范圍的確定、期權授予的讓渡、行權價的確定、窗口期和股票支現的限制、權利的變更等問題。然後，對我國引進股票期權激勵制度的必要性和我國現代企業實施經理股票期權的意義進行了論述。
  15. Study suggests the main constraints of management buy - out : it ' s groundless to fix a price, the information published not confirm with regular standard, purchase procedure is not transparent, purchase action is not with market law, and also policy restriction. consequently, the paper put forward solutions to improve management buy - out : 1 ) the policy to evade the inside risk : the main way is to select suitable enterprises to develop management buy - out ; 2 ) to ensure the transparent and the market standard of the purchase procedure : the main point is to guarantee the justification of the purchase price, to strengthen the transparent of the information announcement ; 3 ) to consummate the mechanism of supervise government : which the work should be done in the supervise department of government ; 4 ) to emancipate the mind, decrease the government action in the enterprises purchasing ; 5 ) to care for the latter developing of the mbo, the purpose of mbo is to pursue the biggest profit of the enterprise ; 6 ) to consummate the environment of circulating necessary funds ; 7 ) to solve the funds and taxes problems of mbo, this is a better way to solve the problems of mbo

    一是管理層收購定價方面的法律依據不足：二是信息披露不夠規范，現階段運作或已完成的mbo案例在進行信息披露時尤其是披露其資金來源時多諱莫如深，令投資者對其資金來源皆產生懷疑；三是收購程序不透明，歸根到底也是法律方面的不足，缺乏相關的公正的運作程序和政策保障；四是收購行為非市場化，我國的管理層收購結束之後往往僅僅是相對控股，股票繼續交易，所有者與經營者分離的問題並沒有從根本上得到解決，所有權與經營權相統一的目標沒有達到，這就可能造成大股東也就是內部人侵吞中小股東利益將更為便捷；五是融資渠道潰乏，主要是國家政策和法律的障礙限制了mbo的融資渠道；六是服務市場不夠發達，主要是中介市場缺乏高素質的專業人才，無法滿足客戶進行mbo的需要，從而限制了mbo在中國的運行；七是政策限制，主要對合法的收購主體的限制、收購規模的限制、收購時點的限制以及收購資金來源的限制。
  16. The board of directors is the operation organ, which is composed of many directors, who have some operating power and delegacy in the company. there are three different theories about the relationship between the directors and the company, including commission relationship, agent relationship and trust and agent relationship. but they all require the directors ’ duty of loyalty, which is used to control the directors ’ deeds and protect the profit of the company

    因此公司法的任務不是替公司作出一切決議，而是在特定情況下，把這一決定權交給公司，由公司自主決策，即公司法要做的是，在原則上禁止或限制董事自我交易、競業等自利行為的發生，同時為公司自主權的行使設計一套完善的科學的程序，即披露? ?批準程序，從程序上保證公司決議的作出和實施對公司來說是公正的，不會損害公司和股東的利益。
  17. Though the new securities law regulates that the power of approval revocation will not be exercised if the stock has been issued, even if the stock isn ’ t issued, we should also think of the limited factors, such as reliance interest, public interest, the degree of violation and prescription

    雖然我國新《證券法》規定了在股票發行上市后就不再行使撤銷權，但是即使沒有上市，要撤銷核準決定也應該考慮信賴利益、公共利益、違規嚴重程度和時效的限制。
  18. One kind of legal mandatory focuses on the financial rations, such as equity insolvency test, balance sheet test, liability / asset ratio, and cash flow test. another kind of legal mandatory focuses on the " stated capital " and fixed - ratio reserves fund. i pay much attention to the issue of " which part of the value can be distributed "

    接近之處在於：採用法定資本的概念，法定了最低注冊資本，強制計提資本公積金和盈餘公積金，以維護公示資本，並在公示資本之外增加對債權的擔保，以及限制實繳出資的分配，限制減資分配和股票回購，傾向于把可分配的價值限定於利潤、限定於資本的增值部分。
  19. Within the llc, investors are often linked by family or other personal relationships that result in a familiarity among the participants. in order to maintain the structure of rights of the llc, it is popular to set up the articles and bylaws of the company to restrict the transferability of shares. this ensures that outsiders cannot become shareholders without the consent of the existing shareholders and may provide a device by which existing shareholders may have a chance to exit the company under some reasonable conditions

    但為了維持公司設立之初所奠定的權利結構，防止不測，從而影響期待利益並制裁那些違反協議的人，公司股東之間往往會通過章程、內部規定等對股份轉移進行限制（在採取法定主義模式的立法下，法律代替股東們做出了選擇，將股東的意志上升為法律意志，以確保公司設立目的的實現，並最終帶給社會各種福利） 。
  20. Thus the sras is thought to be one of the most efficient way of control on the basis of kw and value above, it starts to probe the issues of sras. chapter one discusses the concept of sras, it demonstrates that this system has become a regular legal system in overseas companies in spite of the difference of different countries

    為了保證公正的秩序，有必要思考出控制辦法，使其可能避開資本多數原則的限制，賦予小股東訴訟權利，使其得以代表被壓迫的小股東，直接向公司利益支配者股東及董事追究責任，而股東代表訴訟這一方式被認為是最有效的控制方法之一。
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