In a perfect walrasian market with no taxes or transations " costs, share prices on the ex - dividend day would fall by exactly the value of the dividend that is paid on each share. however, it is well documented that stock prices do not fall by full amount, on average. following elton and gruber ( 1970 ), we use chinese data to examine the effect of dividend taxes on investors " relative valuation of dividends and capital gains
作為稅收金融效應的研究方法之一,股票除息日股價行為研究與公司的股利政策息息相關,直接關系著公司的股利政策是否能夠達到使得股東稅后收益最大化的目標;我國股票市場目前投機過度,現金股利被統一的
課以20的個人所得稅,而資本利得稅尚未開征,這方面的研究也可
以為資本利得稅的開征提供一個實證依據。
Those caught committing minor crimes such as being drunk and disorderly or using threatening behavior could now face and instant fine - - a fixed penalty of 40 or 80 pounds ( $ 60 or $ 120 ) instead of being cautioned or charged
這一方案實行后,任何諸如醉酒、擾亂社會秩序
以及危脅他人的行為都將被即時
課以40至80英鎊的罰款,而不再是
以前那樣被警告或被控罪。
Let 's go home together after class ( is over ).
下
課以後我們一起回家。
As part of efforts to improve local life ahead of the 2010 world expo, which shanghai will host, from june 1st drivers within the area circled by the outer ring road can be fined up to 200 yuan ( $ 26 ) for honking their horns
作為在2010年上海世博會前改善城市生活的一項舉措,從六月一日起,在外環路
以內的司機如果鳴笛可能會被
課以最高人民幣200元( 26美元)的罰款。
The course of microbiology is one of basic courses for the students major in life science field, such as aquaculture, biotechnology, life science, etc, in college of aqua - life science and technology
課程簡介本
課程為學科基礎
課,
以掌握微生物學的基礎理論和基本實驗技能為主要目的。
When the sunday - school hour was finished, the next morning, the bell began to toll, instead of ringing in the usual way
第二天上午,主日學校下
課以後,教堂的大鐘一反往日的樣子,發出的是報喪的聲音。
That minister by the tariff of 1667, imposed very high duties upon a great number of foreign manufactures.
這位大臣根據1667年關稅法,對大多數外國製造品
課以極高的關稅。
Mr. rosselli was fined heavily for reckless driving.
羅塞利先生因駕車莽撞而被
課以大筆罰金。
Unfair tariffs are imposed on foreign products
舶來品被
課以不合理的關稅。
The government imposed a heavy tax on luxury goods
政府對奢侈品
課以重稅。
Tobacco and alcoholic drinks are taxed heavily in their country
煙酒在他們的國家都被課以重稅。