administrative pricing 中文意思是什麼
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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。 -
Then the fifth part and sixth part picture the historical and current status and developing process, and make up a model to account for the formative factor of ipo underpricing from administrative pricing to marketable pricing
第五部分和第六部分闡述了我國發行市場的演變進程和現狀，通過構造多元回歸模型對行政定價和市場化定價方式下的新股發行抑價原因進行實證分析。 -
With over ten years experience, the author compares the administrative system implemented by american government in transfusion institution with that of practiced by shaanxi province government. and employing four theories, theory of entry regulation, theory of price regulation, theory of asymmetry of information and regulatory capture theory. the author analyses the apparent distinctions between these two systems in the aspects of market entry, investment, pricing methods and information regulation
作者根據十幾年參與陜西省血液供應管理工作的體會和總結，以美國政府對各地區采供血行業的管制方法作為參比物，對比陜西省對采供血機構管理體制的差異，尋找在現有制度下解決陜西省血液供應管理模式的問題，運用政府管制經濟學進入管制、價格管制、信息不對稱和政府俘虜等四項理論，分析得出陜西省對血液供應機構管制存在血液市場進入、機構出資主體、產品定價模型以及信息管制上的明顯差異。 -
This paper makes use of the relevant theories of microeconomics, game theory and dynamic program to examine the dynamic pricing problem of a foreign firm that faces such an ad and administrative reviews policy on the condition that the foreign firm and the domestic firm are being at complete information and simultaneous determination, meanwhile analyzes factors affecting the foreign firm ' s product price in the export market ; and solve the theory problem of the dynamic pricing of export goods for our export firms, meanwhile conclude that our export firms and government should make it necessary to establish various guilds to unify and coordinate export price, export quantity and export areas
摘要運用微觀經濟學、博弈論及動態規劃等有關理論，探討了在國內外企業處于完全信息（即確定性）且同時決策的假設條件下，面對國內政府的反傾銷及行政復議，國外企業為實現其在國內市場上所獲取的利潤貼現值的總和達到最大化的動態定價問題，同時對影響出口產品的定價因素進行了簡要的分析；解決了我國出口企業出口產品的動態優化定價的理論問題，得出了我國出口企業、政府應從長遠的利益出發，建立各行業協會，避免各自為政、低價傾銷的被動局面，統一和協調各行業的出口價格、出口數量及出口地區等重要結論。 -
Secondly, it discusses the core issues on contingent claims of the risk - return and managerial procedures of risk identifying, measuring, controlling and decision - making. thirdly, it introduces the theories of portfolio management, asset pricing, arbitrage pricing, options pricing, hedge, comprehensive risk management. next, it expatiates the current risk management method which are extensively used in the real world, especially, the applying of var model in our country. finally, on the basis of above, the paper sets forth presentiment and administrative system
第三章首先分析了投資銀行風險管理的內涵、風險管理的目標，闡述了風險管理的軸心-風險和收益的相機抉擇和風險的識別、衡量、控制和決策的管理程序。詳細介紹了資產組合管理理論、資本資產定價理論、套利定價理論、期權定價理論、套期保值理論和綜合風險管理理論等風險管理理論工具。對目前在國內外應用成熟的風險管理方法也作了闡述，特別對var模型在我國的應用進行了探討。 -
This model had indicated the factors affecting ipo pricing, and proved the shortcomings of single administrative pricing method
模型揭示了影響ipo定價的因素，同樣也證明了目前方法單一的行政定價存在較大的缺陷。 -
Though china " s primary market has grown rapidly, explicit and implicit administrative control and defects in pricing mechanism and methods have led to the long - run inefficiency of primary market : on the one hand, high ipo under - pr icing coexists with the risk - free return between primary and secondary markets ; on the other hand, the relationships among issuers, investors, regulators and underwriters are greatly distorted
一方面是嚴重的發行抑價與一二級市場間的無風險收益的存在，另一方面，在新股發行定價過程中，發行人、投資者和承銷商之間關系被嚴重扭曲。發行上市變成了發行企業的「尋租」過程，過度「包裝」甚至造假現象普遍存在。 -
The general measures carried out by african countries are as follows : reduced administrative rationing of foreign exchange, eliminated many non - tariff barrier, allowed the private sector to compete with parastatals freely, adopted price formulas with a clear link to world pricing, devalued the real exchange rate, reduced the taxation of african fanners, relaxed labor control et al. the implementation of these measures and the transition of economic policy led to the positive effects, got the price - market signals right and promoted the allocation of economic resources
雖然政策調整過程中有一些新問題出現，但從總體上講，以市場為導向的經濟政策在一定程度上消除了經濟發展過程中存在的障礙，促進了生產要素按照市場原則進行最優的配置，有利於市場體系的建立、健全，並逐步強化了市場競爭機制，促進了資源的有效配置和經濟的發展。 -
Article 55 where a chinese - foreign cooperatively - run school adds items of fees charged or raises the level of fees charged without approval, the education administrative department or the labour administrative department shall, according to their respective functions and duties, order it to return the fees overcollected, and the pricing department shall punish it in accordance with the provisions of the relevant laws and administrative regulations
第五十五條中外合作辦學機構未經批準增加收費項目或者提高收費標準的，由教育行政部門、勞動行政部門按照職責分工責令退還多收的費用，並由價格主管部門依照有關法律、行政法規的規定予以處罰。 -
Omplete office automation ( oa ) reduced our administrative paper filing and allowed us to exchange data with customers at the click of a mouse. looking to the future, we are working towards erp and e - commerce solutions, modernizing all the components of our networks. this will further augment our efficiency, lean operations and customer service, connecting ideally to our current supply chain management ( scm ), which continues to provide quality assurance and competitive pricing under sharp market competition
在1994年就開始建立以ethernet的網路體系，根據各公司之生產流程及作業特點相繼建立開發了適用於公司管理的營業管理系統，產銷管理系統，人事薪資系統，產品進出口報關系統，從業務接單到開發打樣，從成本核算到標準用量，從原材料采購到產品入庫，從訂單預排到成品入庫皆以實施電腦化作業辦公，並建立資訊管理中心以實行電腦的集中管理和資源共享。 -
Unfortunately the pricing of tourism products in most world heritage tourism areas in china tends to maximize the commercial profits due to the administrative management system
而在我國，作為國家公共資源的世界遺產的屬地管理體制，導致了世界遺產景區旅遊產品定價的利潤最大化傾向。
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