state shares 中文意思是什麼
state shares
解釋
國家股-
Contract system and rental system are the two main ways. privatization in property means that most of the property or the shares of state - owned enterprise are attorned to non - state principal part, such as the individual, other enterprise or foreign business
財產民營化是指將國有企業的財產（股權）全部或部分的出售給內部職工、個人、其他企業或外商等非國有經濟主體，做到徹底的民有民營，實質上就是將國有產權轉讓給非政府主體。 -
In mbo, the definitude of the buying parties, the pricing of the non - transferable state - owned shares and the buying capital financing are the three key questions
在上市公司管理層收購中，收購主體的設定、非流通股的定價和收購資金的來源是三個難點問題。 1 .關于收購主體的設定。 -
A new idea for the circulation sum of state and legal person ' s shares
法人股全額流通的新思路 -
Shares of listed companes in our country are classified into nonnegotiable shares and negotiable shares. nonnegotiable shares include sponsor legal person shares, private placement of legal person shares, staff shares and state shares that include state - owned shares and domestics legal person shares
我國上市公司的股份分為非流通股和流通股，非流通股包括發起人股、募集法人股和內部職工股，國有股包括國家股和國有法人股。 -
But all of these were not accepted by investors. the paper has proposed to analysis the origin of state shares, the hanns may be caused by nonnegotiable shares and the conunanding position stated shares and put forward a practical project of reducing statc shares, which is reducing the nonnegotiable shares and increasing the negotiable shares of listed companies to realize reducing state share gradually by increasing issue to refund pallial capital to purchase state shares
本文從國有股的產生根源進行分析，剖析非流通股及國有股一股獨大產生的危害，提出一個具有可操作性的國有股減持方案，即通過增發新股籌集的部分資金來回購國有股份，使上市公司非流通的國有股份不斷減少，流通股的數量不斷增家，實現國有股的逐步減持，並逐步達到全流通。 -
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。 -
Through special study for these problems, we found settlement should be made by bringing securities business functions into play to accelerate reconstruction of state - owned assets and by trying out manager stock holding limit right salary system to promote the circulation of state shares and corporation shares
研究表明國有企業股份制改造中存在的問題，可以通過發揮政券市場的功能促進國有企業資產重組，試行經理股票期權薪酬制，促進國家股、法人股的流通來加以解決。 -
Implication of tracker fund on the free float of state shares
從盈富基金模式看國有股流通 -
The shares of listed companies are divided into state shares, legal person shares, ordinary shares which can only circulation
上市公司的股權人為的劃分為國家股、法人股、普通股，其中只有普通股可以流通。 -
The regulators realized that the sale of state shares was having an adverse effect and they suspended the plan on october 22
決策者認識到國有股減持產生的相反效果，他們在10月22日暫停減持國有股。 -
This dissertation, from the perspective of the history of economic thought, has systematically examined the thought breakthroughs brought about by debates on such events as the establishment of the stock markets in modern times, the restoration of the stock markets at the beginning of the reform, reflections upon the devel opment of the stock markets triggered by insides of the funds, and the dilution of the state shares, and analyzed the impact of these thought breakthroughs on the development of the stock markets in different stages, the inherent relationship between these thought breakthroughs and their decisive role in the overall trend of the thought on the chinese stock markets
本論文具體從經濟思想史的角度對中國近代關于創立股市、改革之初關于恢復股市、 《基金黑幕》引發的對股市發展的反思及最新的國有股減持之爭等討論熱潮所產生的思想突破進行了系統歸納，對這些思想突破在不同的股市發展階段中發揮的重大推動作用進行了剖析，並對各次突破之間的內在聯系及其對中國股市思想演變趨勢的決定作用和啟示進行了探討。 -
Corporate shares are mostly held by the state - owned economic entities, which is the essence of national indirect holding. state shares and legal person shares account for 60 % - - 70 % in a total equity of approximately. the shares of listed companies are concentrated highly, and the percentage difference between disparities
而法人股的持有人絕大部分是國有經濟主體，其實質是國家間接持股，因此國家股和法人股近似的共同構成了國有股主體，大約佔到了總股權的60 % - - 70 % ，在40 %左右的上市公司中，國有股東持股超過50 % 。 -
However, the plan to sell off state shares produced more negative effects than expected, according to a senior researcher with the state information centre under the state development planning commission
國家計委下屬國家信息中心的一位高級研究員表示，該計劃的出臺超出了預期，造成了很多的負面效果。 -
A study on the approach of the re - purchase of state shares
國有股回購方法研究 -
The dilemma and countermeasure of the state shares reduction
國有股減持的難點及解決對策 -
Conversion of state assets into state shares
國家資產作價入股 -
State - owned enterprises institutional originality and transaction of state shares
國有企業制度創新的現實障礙和國家股流通思路初探 -
This result implies that there exists a problem of internal governance failure in the listed companies, and reducing the state shares fraction is beneficial for us to deal with the problem of internal persons control and to improve the governance of the listed companies. this paper thinks that : ( 1 ) it should be avoided to regulate the owne rship concentration degree of listed companies by administration means
這說明，一股獨大並不必然是公司良好治理的障礙；我國上市公司中的確存在內部治理失靈問題，而減持國有股份有助於解決內部人控制；名義上的法人股，並不能對第一大股東形成有效制約，形式上的股權多元化並不一定能促進上市公司的治理。 -
In the papey, two cases will be analysed by quanxin shares and guiallou maotai shares, and it is compared the project of reducing state shares which mentioned in the paper with other projects
同時，通過全興股份和貴州茅臺進行實證分析，並將本文提出的國有股減持方案與其他國有股減持方案進行比較。 -
For reducing state shares to fulfill society security founds, the specialists in home put forward many measures. for example, large state - owned invest companies pedicipate in reducing state shares, establish state shares holding fotmds, or transfer state shares to bounds, etc., meanwile the govemment have experienced some experimental project research, such as directional sales and purchase of state shares, sales of state shares by l0 % of the financing, etc.,
為減持國有股充實社會保障基金，國內的專家學者提出過國有大型投資公司參與國有股減持、建立國有股持股基金、股轉債等多種國有股減持方案；國家也進行過國有股定向配售、國有股回購、按融資額的10出售國有股等國有股減持方案試點，但最終都不能為投資者所接受。
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