stock market credit 中文意思是什麼
stock market credit
解釋
股票市場信用-
Capital market consists of stock market, corporate bond market and long and middle term credit market
資本市場包括股票市場、企業債券市場和銀行中長期信貸市場。 -
Enforce policy formulation that social to the high - technology industry, draft inclining policy of main stock market to the high - technology industry enterprises, formulate relative policy to stimulate the start of creation board, permit the high - technology industry interpret issue transfer company credit
強化社會對高新技術產業投入的政策的制定；制定出主板股市對高新技術企業的傾斜政策、制定配套政策推進創業板的啟動、允許高新技術企業試點發行可轉換公司債權政策等。 -
The banking capital and insurance capital also have access to the security market in some way and to some size. in practice, the way by which banking credit capital enters the stock market is n ' t fully lawful. in 2000, the size of china ' s banking credit money that entered the stock market amounts to 450 - 600 billion yuan
在實踐中，我國銀行信貸資金進人股市的路徑並不完全合法， 2000年我國銀行信貸資金進入股市的規模達到4500 6000億元，這些銀行信貸資金大規模地進入（大部分是違法進入）股市，在一定程度上影響了我國股市的穩定，從這個角度也看出我國實行混業經營的條件並不成熟。 -
The rational development of the development of real estate industry of new era are as follows : removal of obstacle of insurance capital ' s entry into real estate industry, increase of exchange rate elasticity and more foreign capital ' s entry into real estate market, improvement of inequilibrium between real estate ' s value increment and stock market, and the ensuring house supply through establishment of individual credit system
新時期房地產業步入理性發展的相關動力有：保險資金投資房地產業的政策障礙已掃除；匯率彈性增強，使外資更多地進入房地產市場；改變房地產增量與存量市場不平衡狀態；建立個人信用體系，加快保障性住房供應。 -
Statistical description shows capital resource of listed agribusinesses : external capital is mainly obtained by access to stock market, next the financial institutions and commercial credit, and little by bond market
通過描述性統計分析，本文得到了農業上市公司資金來源：農業上市公司的外部資金主要通過股票市場獲得，其次通過金融機構和商業信用獲得短期負債，而通過債券市場獲得的資金十分有限。 -
Our country bank not good property origin is extremely complex, mainly has following several aspects the reason : ( 1 ) under the planned economy system, the " series receives series " and " dials changes loans the loan which history and so on " policy leaves behind down to form not good loans ; ( 2 ) 1, 992 - in 1993 economical heat, the large amount fund flows to the real estate, the stock market and so on ; ( 3 ) for many years building redundant project, credit fund effect even more difference ; ( 4 ) local authority to financial organ intervention ; ( 5 ) the financial organ internal management is bad and so on
我國銀行不良資產的成因十分復雜，主要有以下幾方面的原因： （ 1 ）計劃經濟體制下， 「統收統支」及」撥改貸」政策等歷史遺留下來的貸款所形成的不良貸款； （ 2 ） 1992 1993年經濟過熱，巨額資金流向房地產、股票市場等； （ 3 ）多年來重復建設，信貸資金效益甚差； （ 4 ）地方政府對金融機構的干預； （ 5 ）金融機構內部管理不善等。 -
Interrelation between monetary credit and supply of funds for china ' s stock market
貨幣信用與中國股票市場資金供給相關性研究 -
The credit is very important to the market economy. to the stock market which is composed by virtual capital it is the foot - stone
誠信在經濟活動中有著特殊重要的意義，對于由虛擬資本構成的證券市場，誠信的意義更是超越一切，成為證券市場存在的基礎。 -
Practicing this regime requires certain pre - conditions such as the scale of mortgage loans, a brisk stock market, a huge group of investors as well as a number of intermediary service institutions including credit rating corporations, insurance companies, law firms and accounting firms. in china, the securitization of housing - mortgaged loans has become heatedly discused topic recently. in our country, initiate innovations are needed for the market potentiality of real estate, explosive expand in house requirement, further improvement in house market and to develop and reinforce the housing finance, and so mortgage - backed securities provided a ideal tool for resolving the problem for those
所謂房地產抵押貸款證券化，就是將房地產抵押貸款債權轉化為房地產抵押證券的過程，具體而言，也就是金融機構將其持有的若干房地產抵押貸款依其期限、利率、還款方式進行匯集重組，形成一系列房地產抵押貸款資產池（資產組合） ，再將該組合出售給從事抵押貸款證券化業務的特殊目的機構（ spv ） ，通過擔保機構擔保實現信用升級后，經信用評級機構評級，由證券承銷商將信用級別較高（通常為aaa或aa級）的抵押貸款支持債券出售給投資者的一種證券化模式。 -
Effect analysis and policy suggestion on credit funds flowing into the stock market
銀行信貸資金進入股票市場的效應分析 -
As revealed by the study, following problems exist : 1 ) the supply of bank capital has a close relation with the fluctuation of stock market ; 2 ) the volume of bank capital flowing into stock market is large and it is estimated that there are 450 - 600 billion of bank capital exist on stock market, 2 / 3 of which are illegal ; 3 ) most bank capital are getting into stock market through illegal channels, such as illegal repurchase of government securities, illegal acceptance and discount of trade bill, embezzlement of customers " guarantee deposit, illegal interbank loan, illegal diversion of credit capital to other purpose, etc. the inflow of bank capital to stock market has dual influences on our economy and finance
表現在： （ 1 ）據估計我國進入股市的銀行信貸資金存量在4500 - 6000億元左右，其中滯留於一級市場的資金規模約為2000 - 3000億元，進入二級市場的規模在2000 - 2500億元之間，國有股和法人股轉讓市場涉及信貸資金規模約為500 - 600億元，然而，在這千億元進入股市的信貸資金中2 3左右都是違規流入的。 （ 2 ）銀行資金入市除同業拆借、國債回購和股票質押貸款三種合法渠道外，多是通過非法渠道流入股市的，其途徑主要包括：違規國債回購、違規商業匯票承兌及貼現、挪用客戶保證金、違規拆借資金、企業違規挪用銀行信貸資金、個人違規使用銀行貸款等。 -
The united states is the market - dominating financing model, characteristic is the stock market is the main source of corporate finance funds, bank credit accounted for a relatively low proportion of the external financing of enterprises
第二部分是以時間為分析主線，利用歷史數據分析美國市場主導型融資模式和日本銀行主導型融資模式的演變及發展歷程。 -
Chapters 2, 3 and 4 are the focal parts of this thesis, which apply the game theory in the credit marketx the stock market and financial market supervision. a series of beneficial conclusions and enlightenment will be gained on the basis of game analyses
第二章至第四章是本文的重點，即將博弈理論分別應用於我國的信貸市場、股票市場以及金融市場監管活動中，並在博弈分析的基礎上分別得出了一系列的結論和啟示。 -
The empirical analysis indicates that the motivation - constraint mechanism is not perfect in chinese stock market, and the constraint mechanism is not strong in chinese bond market and the development of chinese corporate bond market is too slow, which make the non - public companies prefer credit financing
實證表明，我國股票市場還沒有形成對企業融資行為的激勵約束。信貸市場對企業融資行為的約束還很弱，加上企業債券市場的發展滯后，使我國非上市公司的融資嚴重依賴銀行貸款，使其資本結構呈現資產負債率過高的問題。 -
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。 -
Through learning from relevant countries and regions ’ stock market credit transaction risk control mechanisms, i intend to give some modest proposals on our securities transactions legal system to control risks the article is divided into three chapters : in the first chapter : securities margin trading outlines
法律控制滲透了證券信用交易的每一個環節，是證券信用交易風險控制的關鍵因素。本文首先分析了證券信用交易對證券市場乃至金融市場體系的積極功能與潛在風險並存的雙面性，對我國證券信用交易的現實進行了概括。 -
Secondly, the article does some comparative analysis between chinese and foreign company financing structure, and draws a conclusion that the financing structure of the companies which are listed in stock market is not proper, because the ratio of inner resource financing and credit right financing is small, but stock right financing is a preferable way, also the article takes a detailed analysis in the contradiction of depending on stock right financing
其次，本文對中外企業融資結構進行比較分析，得出我國上市公司融資結構不合理：內源融資和債務融資比例少，偏好股權融資，並對其偏好股權融資的矛盾性進行了詳細分析。 -
The large amount capital inflow can cause the currency and the credit expansion, the inflation pressure, exchange rate appreciation as well as worsen the international payment balance account ; looked from the financial angle that, the capital class joins a society the initiation loan unrest, causes the stock market and the real estate market excessively prosperity
從宏觀經濟角度來看，巨額的外資流入會引起貨幣和信用的擴張，通貨膨脹壓力增加，實際匯率升值以及國際收支中經常賬戶的惡化;從金融角度來看，資本流入會引發貸款風潮，導致證券市場和不動產市場的過度繁榮。 -
In recent years, a series of accounting falsifications continuously occurred in capital market. regardless of anron and anderson affairs happened in the u. s. or ying guangxia and zhong tianqin in our stock market, this phenomenon aroused unprecedented credit crisis towards accounting information
無論是發生在美國的「安然」 、 「安達信」等事件，還是我國股市上的「銀廣廈」 、 「中天勤」 ，都引發了人們對會計信息的空前信任危機。 -
In chinese stock market there are a variety of falsification and breach of faith which result in belief crisis. now is the situation that the regulator, the public companies, the financial intermediaries and the investors will have no faith in each other. on june 6th, 2005 the shanghai composite index fell below 1000. during four years bear market investors have losed almost $ 1, 000 billion, and the heavy loss gives us a lesson that the stock market must build on the foundation of credit. the non - tradable shares is a big barrier. now we are sweeping off the barrier and cherish a open, fair and justicial stock market. to make a sound foundation for the stock market the key is to rebuild the credit of the market, including the credit of the regulator, the redit of the public companies, the credit of the financial intermediaries and the cultivation of the credit culture. this paper profoundly analyses the credit environment of the chinese stock market by the use of credit theory, pointing out that the reason accounting for the lack of credit of the chinese stock market is the unclearly established ownership of the property rights. another reason is that the regulator makes his credit destroyed when he is sustaining the public companies. how to improve the credit environment of the chinese stock market
但真正要重建中國證券市場，關鍵還在於重建市場信用，包括政府信用、上市公司信用、中介機構信用、以及由全體投資者參與的信用文化培育。本文在研究信用理論基礎上，深入研究中國證券市場信用現狀，指出中國證券市場信用缺失的根本原因是上市公司產權不明晰、政府為了維護國有控股上市公司的利益使自身信用一再遭到破壞，同時沒有有效的失信懲罰機制。對于如何改善中國證券市場的信用狀況，研究表明:重建證券市場信用，必須首先改革國有資產管理體制，使政府擺脫與上市公司的利益糾葛，從而政府成為中立的裁判者。
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