circulating ratio 中文意思是什麼

circulating ratio 解釋
冷卻倍率
  • circulating : adj. 流通的,循環的,運行的。
  • ratio : n. (pl. ratios)1. 比,比率,比值;比例;系數。2. 【經濟學】復本位制中金銀的法定比價。vt. 1. 用比例方式表達;求出…的比值;使…成比例。2. 將(相片)按比例放大或縮小。
  1. 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。
  2. Based on the basic equation of the recirculation reactor, the calculating method of the optimum circulating ratio is given

    採用適宜的循環比可以有效地調整物料的反應器進口濃度、降低反應器體積和設備投資。
  3. After 1989, the increase of demand slowed down and facing the complexion of low degree of industrial concentration of product market and financial strain of medi um and small - sized enterprises caused by the circulating trap of " credit squeeze - - - bad loan ", the advantageous enterprises " " wallow in money ", specifically, those listed companies that could finance from the stock market, began to take predatory pricing strategy in succession and tried to enlarge market share and obtain high return by squeezing medium and small - sized enterprises out of the market after 1998, the vicious circle of deflation and " credit grudging " of banks in product and credit markets, overcapacity, the difficulty of retreating of loss - incurring enterprises in some industries from the market for institutional reasons and over - competition in some industries, led to the incessant decrease of enterprises " global income, persistent increase of rate of debts and constant rise of ratio of bad assets of banks, which further intensified the vicious circle of deflation and " credit grudging " of banks

    如在改革開放初期,在產品市場需求旺盛和信貸市場預算軟約束的情況下,各類企業的最優決策就是採用高負債、高擴張的「負債的有限責任效應」策略來搶占市場並獲得高回報; 1989年以後,需求增速開始放緩,面臨產品市場產業集中度較低和信貸市場「信貸緊縮-不良貸款」循環陷阱導致的中小企業資金緊張的局面, 「錢袋鼓鼓」的優勢企業(尤其是那些可以通過股票市場融通資金的上市公司)紛紛採用掠奪性定價策略,試圖通過把中小企業擠出市場來擴大市場份額並獲得高收益; 1998年以後,產品市場和信貸市場形成了通貨緊縮和銀行「惜貸」惡性循環的狀況。產品市場上部分行業生產能力嚴重過剩,且由於體制等原因導致虧損企業無法退出,因此這些行業中出現了過度競爭的現象,企業總體收益的不斷下滑、負債率不斷提高以及銀行不良資產率的持續上升,又進一步加強了通貨緊縮和銀行「惜貸」的惡性循環。
  4. Circulating water ratio

    循環水率
  5. In this paper, we applied the vapor - liquid - solid three - phase circulating fluidized bed evaporator to condense glucose solution considering its advantage. in the experiment, we changed the parameters such as evaporation temperature, difference in temperature of the fluid heating and heated, liquid flux, liquid thickness and the ratio of inert particles to analyze and study this kind of equipment ' s heat transfer properties in different operational conditions

    通過改變蒸發溫度、傳熱溫差、料液流量、料液濃度以及惰性粒子的體積分率等參數,研究了其在不同操作條件下的傳熱性能,並給出了汽-液-固三相循環流化床蒸發器沸騰傳熱的數學模型,模型預測值與實驗值吻合較好。
  6. There was a rumour circulating this spring that the civil servant / civilian ratio in china is 1 : 26

    今春,有傳言稱中國的公務員與民眾比例是1 : 26 。
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