capital market and corporate financing 中文意思是什麼
capital market and corporate financing
解釋
資本市場與企業融資-
Based on the case study of china international marine containers ( group ) co. ltd, a domestic listing company, this article will analyze from the perspectives of the structure, the operational process, the operational efficiency, the special advantages and the viability in chinese market of the asset - backed securitization financing. asset - backed securitization ( abs ) means that to pull out either the banks " or corporate illiquid assets from others to form as an asset pool, and through structural reorganization and under the guarantee of expected stable income stream, it becomes one of the financing ways in the international capital market
資產證券化（ asset - backedsecuritizition ，意為資產支持證券化，簡稱abs ） ，是指將銀行或公司所擁有的缺乏流動性的資產從其他資產中分離出來形成一個資產池，以該資產可以預期的、未來持續穩定的現金流為保證，通過結構性重組，在國際資本市場發行證券來籌集資金的一種融資方式。 -
The capital market not only offers the enterprises a lieu for financing, but also promotes the optimization of the corporate capital structure by the particular pricing mechanism and motivation - constraint mechanism
資本市場在為企業融資提供場所的同時，通過其特有的價格形成機制和對企業融資行為的激勵約束機制促進了企業資本結構的優化。 -
The research on the capital structure is one of the hot issues in the international financial theory fields, but also one of the most controversial issues in finance. as the continuous the perfection of china ' s capital market mechanism and the deepening of financing system reform, the chinese listed companies will have more financing channels to select. the financing structure of listed company presents the multifactor phase. at this time, it is especially important to research the financing behavior and the foundations of decision of china ' s companies. capital structure will influence the distribution of corporate surplus returns, the corporate surplus control power and the corporate managing structure, and finally the value of the company
隨著中國投融資體制改革深化和資本市場機制不斷完善，中國上市公司將有更多的融資渠道可以選擇，公司融資結構呈現出多元化的局面。此時，研究中國公司的融資行為以及決策依據顯得特別重要。因為公司融資結構決策會影響到公司剩餘收益的分配、公司剩餘控制權以及公司治理結構，最後會影響到公司價值。 -
According to the analysis of the reasons of equity financing preference, we know that the preference phenomenon is a rational choice of the listed company and control shareholders and managers. as we analyze in the paper, at present, the listed companies of our country has a preference of equity financing that is also a rational decision when the behavior bodies, such as the listed companies, the control shareholders ( esp. forbidden circulation shareholders ) and the managers, face with cheap equity financing cost, low efficient corporate governance structure and capital market
我國上市公司股權融資偏好在表面看來是一個有悖于發達國家資本市場一般規律的而發生於我國資本市場的一個奇特現象，但通過對其成因的探討后，我們發現股權融資偏好實際上是上市公司、股東或經理等行為主體，對其所面臨的環境約束的最優選擇和反應，是各種經濟主體在追求自己的利益最大化的情況下一個必然的博弈均衡。 -
Meanwhile, the transformation of fund supply system, the maturing of capital market and the diversification of raising - fund channels, all has created conditions for autonomous corporate financing and has made the study of corporate financing sensible and meaningful
而資金供給制度的改革，資本市場的培育，融資渠道的多元化，為企業自主融資創造了條件，也使企業融資問題的研究具有現實的意義。 -
The capital market and corporate governance in the united states, japan, and germany are selected typically. because of the difference in their securities business development, equity capital makeup, outer financing method, capital liquidity, companies in those countries have their own features
由於證券市場的發達程度不同，股權結構不同，企業外部融資方式不同，資本的流動性不同，使美國、日本和德國的公司治理各具特色。 -
China is in the development process of socialistic market economy and capital market, and the financial environment, the equity structures and the actual pecking - order are quite different from other developed countries. some particular phenomena exist in china corporate investing - financing decisions, and therefore, there may be some practical obstacles in the perfect applications of some standard financial theories in china corporate finance preference, investment decision and the capital structure optimization
中國正處于社會主義市場經濟體制逐步完善和資本市場快速發展過程中，中國上市公司的融資環境、股權結構和實際融資順序與國外成熟市場存在巨大的差別，公司的投融資聯動決策存在其特有的現象，因此用標準金融的相關理論來研究中國企業的融資偏好和投資問題，指導中國企業的投資、融資和資本結構優化存在著一定的現實障礙。 -
Fourth, < wp = 8 > securitization integrated the financing agencies and the market agencies validly and efficiently, and therefore generates new financing organizations and services. abs can increase the usage efficiency of the corporate capital through the transformation of capital property ownership, but for the corporate investors, the investment risk will not depend on the corporate itself, but the risk of asset itself. from the angle of the corporate, abs has the following advantages : it provides a brand new financing instrument ; it brings the corporate the effect of reducing the asset cost ; it makes an effective assets - liabilities management for the corporate ; it becomes an economical way of financing for medium to small sized corporate
資產證券化可以通過對其資產所有權的轉讓提高企業資本的使用效率，而對于要投資該企業的投資者來說，其投資風險不再依賴于企業經營本身，而是依賴于資產自身的風險，從企業角度看，資產證券化具有以下優點：資產證券化為企業提供了一種新型的融資手段，資產證券化可以給企業帶來削減資本成本的效果，資產證券化可以使企業有效進行資產負債管理，資產證券化可以成為中小企業低成本融資的一種手段。 -
With detailed analysis of the financing means and finance demand of internet company, while learning from the research angle and method of exiting corporate capitai structure theory, the capital structure theory for internet company is studied from the foilowing angies " financing capital cost, market competition structure, information economics and trade - off theory as weli
首先分析社會投資主體的風險偏好和網路公司的投資風險與收益特徵；論述網路公司股權融資和債權融資，金融需求和融資障礙。重點借鑒現有公司融資結構理論研究方法，從融資資本成本、市場競爭結構、信息經濟學以及權衡理論等角度，勾勒出專門針對網路公司m /摘要+的融資結構理論框架。 -
First, this paper theoretically analyses the basis of corporate financing decision. corporate capital structure refers to debt / equity ratio. financing structure determines capital structure, and the reasonability of the capital structure affects the enterprise ' s market value
企業的融資結構決定企業的資本結構，而企業資本結構的合理與否影響企業的市場價值，因此，確定相應的資本結構就成為以實現市場價值最大化為目標的企業在資本市場融資決策的依據。 -
Capacity for sustainable financing is one of the important parts of the core competitive capacity of listed firms. as for the evaluation of sustainable financing capacity of listed firms, a system with five indexes is built up. besides the environmental factor - fluctuation and circulation of the stock market, inner elements - operating situation, structure of financing, efficiency of capital usage and corporate governance are concerned
評價上市公司的可持續融資能力既要考慮股票市場的波動性和流動性等外部環境因素，更重要的是要分析上市公司的內在條件，包括其經營狀況、融資結構、資金使用效率、公司治理結構等，這些要素構成了評價我國上市公司可持續融資能力強弱的基本指標體系，根據這一體系評估，本文認為我國上市公司可持續融資能力總體偏弱。 -
The advantage of the financing structure is as follow : in a highly market - oriented financing system, enterprises face diverse financing options have great autonomy, which limits the major shareholders of a company to control the company, guarantees the interests of investors ; decentralized financing reduces enterprise debt rate, which is conducive to reasonably arrange credit structure of the bank, enhance the stability of the banking system ; decentralized financing disperses investment risk and financial market risk ; constraint mechanism of capital markets enhance the competition quality and comprehensive quality of enterprises, form effective corporate governance mechanisms
第三部分是從主體特徵、形成根源和經濟績效三個方面對美國企業融資模式和日本企業融資模式進行比較分析。第四部分是從美日兩種融資模式的簡要評價中得到啟示，並在總結分析兩種融資模式的基礎上，回顧了我國融資制度的變遷與現狀，針對我國目前融資體制中存在的種種問題，提出應對建議。
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