firm value 中文意思是什麼
firm value
解釋
公司價值-
We must think of three factors to make a best capital structure. first factor is margin tax shield, namely, the ratio of firm value ' s increment for liability and the increment of liability blow. second factor is finance crisis net lost that is bought in future. thirdly. we must make much of the market action and adjust capital structure
確定一個最優的資本結構主要考慮以下三個要素：第一，邊際稅盾，即由於負債導致企業價值增量與負債額的增量的比值，以邊際稅盾為零作為界點；第二，估計未來可能招致的財務危成本；第三，密切關注市場的反應，不斷調整資本結構。 -
Capital structure is the rate of long term liabilities and sovereignty capital. different capital structure has a big effect to firm finance adventure, surplus of every stock, firm value
資本結構是指長期負債額與主權資本的比例，不同的資本結構，對企業承擔的財務風險、每股盈餘、企業價值均會產生重大影響。 -
Under the favorable condition, liability can redound firm value. when liability blow excess a definite blow, it will reduce the increment for the exist of net lost of expectant bankrupt and net lost of agency, which will reduce firm value, obstacle the rise of firm liability rate and keep firm liability in the definite range
在有利的條件下，負債能增加企業價值。當負債額超過一定限額時，由於預期破產成本的存在和代理成本報存在，從而削略這種增量，甚至，使企業價值減少，阻止企業的負債率的上升，使企業的負債率保持在某一范圍內。 -
The thesis defines the concept of asset securitization, expounds characteristic and the condition to use. analyses the relationship between the choice of financing tool and the firm value, express max firm value is a good standard to weigh the tool. then, through the ri model and finance theory, the thesis explains the motivations of asset securitization, demonstrates the influence effect on firm value by qualitative and quantitative analysis of cost - benefit of corporate asset securitization, and discusses the role of asset securitization to solve corporate financing puzzle and the future of asset securitization in our country
本文首先提出我國企業面臨的融資困境的實質是企業資本結構的不合理以及融資渠道單一影響的，即融資工具不能實現企業價值最大化;在對資產證券化的概念進行界定后，闡述了關于資產證券化的特徵，明確了資產證券化的特點和使用條件;分析了資產證券化工具的選擇與企業價值之間的關系，提出了企業價值最大化是衡量企業融資工具選擇是否合理的標準，為企業通過資產證券化融資提升企業價值提供了理論準備;然後，運用現代財務理論和剩餘收益模型，通過對我國企業資產證券化的實踐進行成本收益的定性和定量的效果分析，論證企業資產證券化對企業價值的影響效果;最後論述了我國實施資產證券化的現狀和未來發展，並且對我國實施資產證券化的具體方式提出了新的構想。 -
For the price - earnings ( pe ) models, forecasted earnings do not provide better firm - value estimates than historic earnings, implying the former has a dubious quality
本益比模式中， ?含成長信息的?史盈餘模型的預測效?高於含有成長消息的預估盈餘，顯示新上市公司的預估盈餘質量亟待改善。 -
In the condition of perfect capital market, firm s average net cost is a definite quanity. namely, power and profit net cost of no liability firm. it is no relation to capital structure. but power and profit net cost of liability firm shareholder is added with liability rate improved. so firm value is no relation to capital structure ; firm value depends only on firm ' s future surplus. the more future surplus is, the more firm ' value is ; the less future surplus is, the less firm ' s value is
在完善的資本市場條件下，企業的平均成本是一個定量，即為：無負債企業股東權益成本，從而與資本結構無關，負債企業股東的權益成本，則是隨負債率的提高而上升。因此，企業價值與資本結構無關。企業價值只取決于企業未來的盈餘，未來的盈餘多，則企業的價值大，未來的盈餘少，則企業的價值小。 -
The paper investigates 763 public corporates listing in shse, checks the empirical relationships between firm value and the second largest shareholding
摘要本文以763家上市公司2003年的橫截面數據為樣本，通過考察公司績效與第二大股東持股之間的經驗關系，考察了第二大股東持股的治理功能。 -
To analyze financing structure of listed companies in china, first, based on the relative analysis of financing structure of listed companies in western developed countries, we review current situation in china, and describe and test the financing behavior and the financing structure of china ' s listed companies. second, i explains the factors of equity financing preference in the following three aspect : cost - financing cost, corporate interior - governance structure, and the external surroundings - financing markets. finally, in order to optimize the financing structure and enhance firm value, we put forward a lot of countermeasure
為了揭示當前我國上市公司融資結構的形成原因，本文首先在對國內外上市公司融資結構進行對比分析的基礎上，著眼於我國現實，對當前我國上市公司總體融資行為和融資結構進行了描述與檢驗；其次，從成本? ?融資成本、公司內部? ?治理結構和外部環境? ?融資市場三個方面系統、深入地分析了造成我國上市公司融資結構扭曲的原因；最後，以企業價值最大化為目標，給出優化我國上市公司融資結構的對策措施。 -
Does diversification add firm value ? evidence from chinese public listed companies
多元化與上市公司價值的增加 -
By comparatively analysis of the four widely accepted financial management targets - profit maximization, shareholder maximization, firm value maximization as well as stakeholder value maximization, this paper holds the idea that firm value maximization should be the most appropriate one ; 2
本文在各財務管理目標比較分析的基礎上，得出企業價值最大化企業可持續增長應遵循的財務管理目標； 2本文利用內含價值法的原理推導出企業價值增值的折現現金流量模型和經濟利潤模型。 -
Given the historical background and system arrangements, their intimate connection is examined and policy implication on shareholding structure is presented according to the statistical results. as a result, we find the following results : first, it is shown in the empirical study that an over - diversified shareholding structure may lead to the " free rider " problem and the relative concentration of the shareholding is beneficial to the enhancement of firm value. second, the relative control by the legal person is beneficial to the enforcement of corporate governance in the chinese listed firm
（ 2 ）股權相對集中有利於提高我國上市公司價值；國家股比例對公司價值的影響不顯著；法人股比例與公司價值成u型曲線關系，當法人股比例在0 35 . 05之間時，公司價值隨法人股比例的上升而增加，當法人股比例超過35 . 05時，公司價值隨法人股比例的上升而下降；流通股比例與公司價值成負相關。 -
Firm value of enterprises with financial difficulties
陷入財務困境企業的價值評估 -
How to determine growth rate in evaluating firm value
價值評估中增長率的確定及方法模型 -
Ownership structure, capital structure, and firm value of chinese listed companies
資本結構和公司價值關系研究 -
The innovation is that the visual angle is new. it researches asset securitization from the angle of firm value
本文的創新之處: 1 .開辟了從企業價值審視資產證券化的研究角度。 -
When the object of a firm is maximizing firm value, the firm adopts the concept of eva as the base for financial management
Eva財務管理理論是以企業價值最大化為財務管理目標的一種嶄新的財務管理理念。 -
Most research about firm governance aims with the firm value maximum and studies how to arrange governance mechanism to achieve it
而大多數關于企業治理的研究都是以企業價值最大化為目標，研究企業治理機制應該如何安排才能將其實現。 -
Finally, part vii concludes that the u. s. approach best addresses these agency cost problems by giving managers the flexibility to maximize firm value in the face of competing stakeholder interests
最後，第六部分得出的結論，美國解決代理成本問題的方法最優，它在面對股東的競爭性利益時賦予經營者最大化公司價值的靈活性。 -
The conclusion is that corporate asset securitization high up the fluidity of asset, lows property ratio of debt to net worth, provides a continual liquidity supplement, highs up firm value. secondly, it provides new channel that has lower cost by breaking through the restriction of traditional financing instruments. asset securitization is an off balance - sheet financing manner, it would not disperses control of stockholder
本文通過論證得出了如下結論: 1 .在正確的使用資產證券化這一融資工具的條件下，資產證券化提高了企業資產的流動性，降低了資產負債率，也為企業提供了一種長期的資產流動性補償機制，可改善企業資本結構，提高了企業價值; 2 .資產證券化為企業開辟了有別于股票和債券發行等融資方式融資成本較低的資本市場。 -
The corporate in our country is facing the financing puzzle which includes the high property ratio of debt to net worth and the financing channel sole. from the visual angle of asset securitization being a dominant instrument to solve the problem of bad property in corporate, the thesis mainly researches the operation way of asset securitization, and the impact to corporate, especially the firm value, when they choose asset securitization
我國上市公司面對著高資產負債率和融資渠道單一這種財務困境，本文從資產證券化作為企業解決不良資產問題的新型融資工具出發，主要系統地研究了資產證券化的運作方式和適用條件，以及通過對我國上市公司資產證券化的實踐案例的全面分析，論述了上市公司選擇資產證券化對企業的影響效果，特別是企業價值的影響。
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