股本結構 的英文怎麼說

中文拼音 [gǔběnjiēgòu]
股本結構 英文
capital structure
  • 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...
  • 本 : i 名詞1 （草木的莖或根）stem or root of plants 2 （事物的根源）foundation; origin; basis 3 （本錢...
  • 結 : 結動詞（長出果實或種子） bear （fruit）; form （seed）
  • 構 : Ⅰ動詞1 （構造; 組合） construct; form; compose 2 （結成） fabricate; make up 3 （建造; 架屋） bui...
  • 股本 : capital stock; capital; stock; equity股本比率 ratio of capital stock; 股本持有比例 capital shares...
  • 結構 : 1 （各組成部分的搭配形式） structure; composition; construction; formation; constitution; fabric;...
  1. Part two introduces the theory of panel data. the basic form of panel data is : yi t = it + xi t it + uit, i = 1, 2, …, n ; t = 1, 2, …, t panel data is used for describing the instance of swatch in a collectivity in some time, and observing every unit in swatch multi - scale. basing on the different hypothesis of ui, panel data has fixed effect model and random effect model, if ui is a unit constant ( corresponding to the dummy variable of

    基於分析結果，本文給出了改革我國公司治理結構的若干建議: （ 1 ）股權性質方面，培育有效的國家股持股主體; （ 2 ）股權結構方面，逐漸調整股權結構，減少第一大股東持股比例，增加除第一大股東以外的大股東的股權集中度; （ 3 ）董事會方面，採取奇數型董事會規模，並完善獨立董事的生成機制; （ 4 ）激勵制度方面，應加大董事及總經理的持股比例。
  2. Compared the equity structure and corporate governance of listed company of our country with countries such as u. s. a, japan and germany, and by game theory, this dissertation analyzes the influence mechanism of equity structure to corporate governance of a listed company from following main respects : stimulation, restriction, take - over by other company, and competition of dealership. by theoretical research, it comes to that a comparatively centralized equity structure helps to perfect corporate governance ; for its fierce competition and stability of performance, we choose the data of the industry of wholesale and retail trade listed companies of our country to analyze the influence that equity structure made to corporate governance by regression analysis, and approve it by real case. by the theory and real example, we draw the conclusion that a mode of comparatively centralized equity and main power is controlled by fictitious persons is ideal, and correspond measures are put forth to advance the economic development of our country

    本文通過對我國、美國、日本利德國等發達國家的上市公司的股權結構利治理模式比較；通過採用博弈論等方法分析了上市公司股權結構對公司治理的激勵機制、監督機制、外部接管市場和代理權競爭四個方面的影響，從理論上得出相對集中的股權結構有利於完善公司治理結構：通過選取了我國競爭比較激烈、業績相對穩定的批發與零售行業的上市公司的數據、採用回歸分析的方法對不同性質和集中度的股權結構與公司業績的關系進行了實證分析，還進行了具體的案例分析，由理論利實證研究相結合得出股權結構相對集中的法人控股模式為一種理想模式，並提出了促使我國上市公司股權結構調整使治理結構合理化的相應建議。
  3. Based on these defects, the article put forward some legal countermeasures to perfect the acclp for nine aspects in order to motive the acclp " s successful conduction. the nine aspects are : borrowing the western countries " acclp " s advanced experience ; building up the correct concept of acclp, decentralizing the high - centralized stockholder " s structure, re - distributing the power of company " s institutional framework and establishing the legal proceedings system during the stockholders in order to protect middle and little stockholder " s profits ; joint liability for guarder " s of the board and legal person " s personality deny system ; improving the framework of the board of directors ; perfecting the market mechanism

    在此基礎上，本文從借鑒發達國家公司法人治理結構的先進經驗；樹立公司法人治理結構的正確理念；分散高度集中的股權結構；重新配置公司內部權力結構；建立股東代表訴訟制度，保護中小股東的利益；建立監事（會）連帶賠償制度；建立公司法人人格否認制度；改善董事會結構；完善市場機制等九個方面提出了完善我國公司法人治理結構的法律措施，以便推動我國公司法人治理的順利進行。
  4. Government ' s monopoly of capital market also leaded to the " shell " value of listed company which is irrelative to the company ' s invest value, which made the higher general price in the market. in addition to, the structure of investors which is consisting of many individual investors and few institution investors lets it easy to manipulate the stock market for the institution investors. according to the origins of the systematic risk, it is necessary to improve the market mechanism and market efficiency to eliminate the system root of the risk to decrease the risks

    突出地表現在：資本市場服務于國企轉制，造成上市公司股權結構存在缺陷，致使公司治理失效，上市公司缺乏持續發展的能力，公司經營風險轉化為市場的系統性風險；政府對資本市場準入的行政性壟斷，形成上市公司「殼」價值，虛高股票市場價格，引發系統性風險；金融市場分割，特別是貨幣市場資金缺乏進入資本市場的正常渠道，利率市場化水平低，影響金融資產定價，導致違規融資盛行，加大了市場風險；而由於市場監管不到位，以散戶為主的投資主體結構，則易導致機構大戶利用內幕信息操縱股價，機構投資者的發展不僅沒有成為穩定市場的力量，反而成為操縱市場的主力，加劇了市場波動。
  5. Share repurchase refers to a company buying back its own shares that were issued to the public before and writing off them or holding them as treasury stock. in legal nature, share repurchase is a special transfer of share between the company shareholders and the company itself

    股份回購是指公司將可以使用的資金用於購回本公司已發行在外的股份，或作為庫存股持有，或予以注銷，從而達到減資或調整股份結構的目的。
  6. Without preferred stock, stock warrant and treasury stock, our countries " listed companies are lame. it is important for our country to carry out the exchanging businesses of preferred stock, stock warrant and treasury stock. it will not only avail in improving the capital stock structure of listed companies, but also give play to the capital mechanism in society resource distribution

    優先股、認股權證、庫藏股都是股份制企業或上市公司不可或缺的品種或組成部分，並且在國外證券市場上起著不可替代的作用，而中國市場經濟條件下的股份有限公司只有普通股設置，是跛足而行，因此，也須設置優先股，並同時開展認股權證交易及鼓勵庫藏股交易，進行證券市場金融工具創新，從而改善上市公司的股本結構，充分發揮資本機制在社會資源配置中的功能和作用。
  7. So on the basis of descriptions on the control rights, this dissertation tries to demonstrate the influence of the states of the control rights on corporation governance structure, especially the vicegerent collisions between the controlling shareholders and the smaller shareholders, on which it puts forward some policies and suggestions to make the governance structures of the listed private - controlled companies consummate. and this depends on the analyses on the share structure 、 character and controlling of levels of factual controllers 、 share proportion of every level shareholders on the control chain and states of control rights etc. this paper is divided into five parts

    本文參考laporta等人關于控制權的定義，試圖通過對樣本民營上市公司的股權結構、實際控制人的性質和控制層級、控制鏈條上各層級股東的持股比例以及控制權狀態等因素的分析，論證公司控制權狀態對民營上市公司治理結構的影響，特別是控制性股東與中小股東之間的代理沖突，並在此基礎上提出進一步完善民營上市公司治理結構的政策建議。
  8. Research of this paper opens out enclosing the subject that m & as and reconstruction of public companies can help to realize resource collocating of securities market, advance quality of public companies, and promote the optimization of structure and function of stated - owned economy. the paper researches how to change the financial and speculative reconstruction at present to the strategic and material reconstruction aftertime. firstly, the author proves the feasibility of m & as and reconstruction that conduces to advance management efficiency of companies and efficiency of securities market in theory, and emphasizes on some conceptions which have certain differences between westward m & as and reconstruction market and ours

    西方的並購重組理論為我們提供了一定的思考的角度，其中比較有代表性的有效率理論，從管理、經營、財務的協同效應和多元化經營、戰略重組等方面解釋了並購重組對改善企業經營管理的可能性；代理問題理論，把並購重組作為解決企業委託代理問題的一個外部機制，即當由於公司管理層的無效率或代理問題而導致公司經營管理業績不佳的時候，公司就可能面臨著被收購的威脅；信息與信號理論，認為並購重組信息向市場傳遞了有關公司管理、股票價值、資本結構等方面的信息，從而引起公司的市場價值被重新評估，導致股價波動。
  9. In their celebrated papers, modigliani and miller ( 1958, 1963 ) argued that the capital structure decision and dividend policy is a matter of irrelevance, affecting neither the value of corporation nor it ' s cost of capital

    Modigliani和miller （ 1958 ， 1961 ）的經典論文指出公司的資本結構政策和股利政策均與公司的價值無關。
  10. So, author draws conclusions : shares structure of firm in share market is related to achievement of firm, and concentration degree of shares structure has negative relation with achievement of firm. that is to say : the higher concentration degree of shares structure is, the worse achievement of firm is ; the bigger proportion of corporation share is, the better achievement of firm is ; public share has influence a little on achievement of firm

    因此，得出以下結論：上市公司股權結構與公司業績存在相關關系，並且股權集中度與公司業績負相關，即在中國國家股「一股獨大」的現狀下，股權集中度越高，公司業績越差；法人股所佔比例越大，公司業績越好；公眾股對業績基本沒有影響。
  11. On the basis of drawing lessons from the existing research results both at home and abroad, this paper observes the change law of the two financial indexes of nroa and croa from 1997 to 2001, studies the relations between the locations of listed companies and the m & a performance, between the structure of equity of listed companies and the m & a performance, between the industry nature of the listed companies and the m & a performance, between the type of m & a and the m & a performance, and then draws several conclusions that m & a performance is unsatisfactory on the whole, m & a performance of listed companies in eastern china is superior to that of the counterpart in middle or western china, m & a performance of listed companies that the country or the other corporations hold the most share of the listed companies is unsatisfactory on the whole, the growing or mature listed companies can achieve best m & a performance when they implement the m & a horizontally while the listed companies in declining phase may perform the conglomerate m & a the best

    在借鑒國內外已有的研究成果的基礎上，本文考察了並購上市公司從1997年到2001年五年時間內凈資產收益率和主營利潤率兩項財務指標的變化規律，研究了並購公司所在的區域與並購績效、並購公司的股權結構與並購績效、並購公司的產業性質與並購績效、並購類型與並購績效等方面的關系，得出了若干結論： 1 、並購績效從總體上來說是不理想的； 2 、東部上市公司的並購績效要優于中部和西部上市公司的並購績效； 3 、國家股或法人股是第一大股東的上市公司的並購績效不理想； 4 、處于成長性產業和成熟性產業的上市公司發生橫向並購績效最好，處于衰退性產業的上市公司發生混合併購績效最好。
  12. Analysis on comparing rs with seo is done by means of pricing patterns, biding bodies, amounts of issue and risk to underwriting, etc. on the basis of over analysis, we present some practical measures to make better the rs and seo : to improve financial parameter which is necessary for the qualification of rs, refrain non - circuiting stockholders to improperly take part in rationing shares and give up rationig shares, set standards to the policy of dividend distribution, establish the transaction market of rights of rationing shares

    對配股與增發新股進行比較研究，主要從兩者的本質區別、定價方法、認購對象、發行數量、股本結構變化以及券商承銷風險等方面展開。在以上分析的基礎上，提出了完善配股、增發新股的具體措施:改進配股資格的財務控制參數，約束國有股、法人股股東的參配、棄配行為，規范上市公司股利分配政策，建立配股權交易市場;在增發價格與公司的內在價值相符的前提下實施小折扣發行，引入超額配售選擇權，建立募集資金的專戶存儲制度。
  13. In addition, the shareholding structure of listed firms has no significant relation to underpricing rate, underpricing rate is negatively related to the issuing price

    而上市公司增發時的總市值，相對增發規模，增發時公司股票的市盈率和上市公司的股本結構與增發上市公司折價率之間的相關關系並不明顯。
  14. Therefore, we must reduee to hold pe of the staterowned stocks and oghmhe captal cowtction ttis text analwi our counny listed compe capita cotwchon and its all kinds of diwes " the necessity the possibility and the basic principle of wing holding the statod stocks

    因此，必須減持部分國有股，優化股本結構。本文分析了我國上市公司股本結構及其帶來的種種弊端，國有股減持的必要性、可行性及基本原則。
  15. With boonal hahon inconfonnity ms kind of abnonnal wl construction cause tha our counny stock markat development was irmgular and ill - healthy the disadvantas show to bulge, such as cooprate goveare no pebe intemal h contrl phenomenon serious, the lerion in captal market suffer to lindt etc.

    這種畸形股本結構導致了我國股市不規范、不健康的發展，弊端日顯凸出。如法人治理結構不完善，內部人控制現象嚴重，資本市場功能受限制等。
  16. Several key factors must be taken into consideration in choosing a target shell, among which the following are essential : ? size of issued share capital ; ? structure of issued share capital and share ownership ; ? stock price in the secondary market ; ? business of the target company ; ? operational performance ; ? financial situations ; ? quality of the assets ; ? growth of the target company, etc.

    一、殼公司的選擇殼公司的選擇是買殼上市的第一步，也是整個買殼上市操作過程中至關重要的一環。目標公司選擇的正確與否，直接關繫到買殼交易的成敗。選擇某個上市公司作為買殼上市的目標公司，通常應考察股本結構與股本規模、股票市場價格、經營業務、經營業績、財務結構、資產質量、公司成長性等因素。
  17. In this paper, we first make a literature on relationship of equity ownership structure and corporation performance. it turns out that because of different opinions, it ’ s difficult to tell how equity ownership structure influences corporation performance. we should consider the equity ownership structure ’ s characteristic and other factors when we do research on joint - stock commercial bank ’ s equity ownership structure

    我國學者借鑒國外研究的科學方法，比較充分地考慮了國內的實際情況，贊同國內上市公司的股權結構與公司績效有關，在股權集中度與公司治理績效關系方面，有兩種觀點，認為兩者的關系是正相關關系和倒u型關系，而在股本結構對公司績效影響方面的觀點差異較大。
  18. There are massive uncurrent state - owned equity in the equity structure of china listed enterprises, which has already caused the distortion of enterprise governing structure and the advisability of resource disposition and so and. however, the major reason generating this phenomenon lies in the institutional risk existing in the china stock market set up in the period of economy transformation

    中國上市公司的股本結構中，沉澱了大量的非流通國有股權，這一現象已經引致了公司治理結構扭曲及資源配置非優化等巨大負面效應，導致這一現象的主要原因，在於經濟轉軌時期成立的中國證券市場所存在的制度風險。
  19. Seasoned equity offerings of chinese listed firms were underpriced by an average of 11. 59 percent during last four years, from 1999 to 2002, with the discount decreasing substantially over time, which is opposite to the increasing tendency in american listed firms. consistent with uncertainly and asymmetric information theory, underpricing rate is positively related to the stock price volatility and the p / e ratio when issuing the seasoned equity offers

    根據理論分析的結果，本文假設了這6個影響因素與上市公司增發折價率之間的相關關系：增發公司股價的波動性，增發時公司股票的市盈率和相對增發規模與增發折價率呈正相關關系；上市公司增發時的總市值、股本結構和股價與增發折價率呈負相關關系。
  20. However, as our stock market still in initial stage, shortages still remain in stock issuing, capital structure and the practice system of the stock market etc. even the impact to a country ' s economic growth causes by a developed and perfect stock market remains to be discussed

    但同時我國的股票市場仍然處于初級階段，在股票發行、股本結構、股市運行機制等方面都存在缺陷。而且，即使是一個發達、完善的股票市場對一國經濟增長的作用，在理論上也存在很大的爭論。
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