明而未融 的英文怎麼說
中文拼音 [míngērwèiróng]
明而未融
英文
it was just dawning but not yet broad daylight. ; it has dawned but is not yet broad daylight-
It has dawned but is not yet broad daylight.
明而未融。According to the real condition of state - owned investment company in china, me author thinks the basic reason, which led to its development going against the goverment ' original intention, is that state - owned investment company has n ' t been properly regulated by relative laws since it came into two respects : first, in relative laws remaining in effect, some provisions are out of date and ca n ' t be relied on in new situation ; meanwhile, under the conditions of financial appropriate funds being canceled and political funds being delayed, the government ca n ' t issue new financing policy in time. all of these led state - owned investment company to a dilemma. second, other provisions are ambiguous just providing a few of capital managing ways, without specific regulations, and ca n ' t be carried out practically. so the state - owned investment company has to transfer to state holding company and state - owned assets management company
第三、四章是本文的重點。作者通過對國有投資公司在我國發展的實際狀況，指出導致國有投資公司在實際運作中異化發展的根本原因是最初未從立法上對其進行定位：一方面表現為立法滯后，無法可依，在財政撥款取消和政策性基金不到位的情況下，對于融資渠道沒有新的政策出臺，致使國有投資公司陷入「斷資」困境；另一方面表現為規范不明，僅規定了參股、控股和股權轉讓等資本運作方式，而對股權轉讓和階段性持股問題卻規范不明，致使國有投資公司不得不向國家控股公司和國有資產經營公司方向發展。Then, this paper empirically tested the validation and predictive accuracy of different var risk management model in the domestic financial market. finally, with the analysis of modem financial risk management development trend and the current domestic financial risk management situation, this paper made a prospect for the application of this model in the construction of domestic financial risk management system. through the analysis, the main conclusions are as follows : ( l ) the traditional mean - variance model is the special example of the portfolio selection based on the var risk management model for the case that the returns of the portfolio are assumed to be normally distributed ; compared with the mean - variance model, the var risk management model is more comprehensive and accurate in the measurement of the portfolio risk, so based on the var model, the investors can allocate the asset more effectively. ( 2 ) the var risk management model can provide the timely and comprehensive risk information for the top risk manager, so it is very helpful to the improvement of total risk management efficiency. ( 3 ) based on the var model, the raroc performance valuation approach can reflect the real performance of the portfolio manager and provide the coherent standard for the allocation of risk limitation and the construction of the incentive compatibility constraint mechanism in the financial instiutions
通過研究分析，本文主要得出如下結論： （ 1 ）傳統的markowitz均值? ?方差模型僅僅是在資產組合收益率正態分佈假設條件下基於var風險管理模型進行資產組合選擇的特例，與均值? ?方差模型中的方差風險度量方法相比， var風險管理模型能夠更全面、更貼切地衡量資產組合的風險，且基於此模型能夠更有效地進行資產配置決策； （ 2 ） var風險管理模型能夠滿足更高層次風險管理者對風險信息的需求，有助於整體風險管理效率的提高； （ 3 ）基於var風險管理模型的raroc績效評價能夠反映資產組合管理人的真實業績，從而為金融機構風險限額的分配和激勵約束機制的制定提供統一的標準； （ 4 ）國內證券市場資產組合收益率服從正態分佈的假設明顯不成立，實證檢驗表明基於資產組合收益率正態分佈假設條件下的方差? ?協方差模型對國內資產組合風險的預測存在較大的偏差，由於文中證明在收益率正態分佈假設條件下基於方差? ?協方差模型進行資產組合選擇的結果等價于markowitz的均值? ?方差模型，因此，均值? ?方差模型對國內資產組合風險的預測同樣會存在著較大的偏差，而半參數var風險管理模型則能夠取得較好的預測衡量效果； （ 5 ） var風險管理模型符合未來金融風險管理的發展趨勢，基於var風險管理模型建立內容提要風險限額內控體系、風險信息披露體系和業績評價體系，並進行金融監管，將有助於國內金融機構內部風險管理方法和外部監管技術跟上國際金融風險管理的發展潮流。Firstly, this paper establishes status of securities merchant in securities business and indicates that the development of securities business ca n ' t depart from the development of securities merchant by expatiating the concept, operational extensions, functions, classification and operational principle of securities merchant. secondly, set out from the meaning of marketing research of securities merchant, the paper illustrates the importance of building up marketing senses and training marketing abilities of securities merchant according to the concept, characters and theory of securities business, and fundamental marketing principle of securities merchant by researching the marketing theory of securities merchant. thirdly, by researching the marketing tactics of securities merchant, the paper indicates that securities merchant how to choose the marketing target market, variety innovation and other marketing tactics and channels in the practical condition of market partition, so as to improve competitive competence in t he whole securities vocation
本文首先通過對券商的概念、業務范圍、功能及券商的分類、經營原則的闡述，確立了券商在證券市場中的地位，表明證券市場的發展與券商的發展密不可分；又通過對券商營銷理論的研究，從券商營銷研究的意義出發，以券商營銷的概念、特徵和證券市場理論為依據，本著券商營銷的基本原則，闡明了增強券商營銷意識，培養券商營銷能力的重要性，再通過券商營銷策略的研究，表明在市場細分的實際情況下，券商如何選擇營銷的目標市場與品種創新以及其它營銷策略和渠道，從而在整個證券行業中提高競爭力；最後本文通過未來證券市場的發展趨勢，針對券商營銷策略，從網上交易和金融混業經營兩方面進行了詳細的闡述。For the melt intercalation system, the clay surface modifiers have great influence on the intercalation effect, while no great effect for the intercalation system
粘土表面修飾劑對熔融插層體系的插層效果影響較為明顯，而對原位插層體系並未造成明顯影響。Case law ' s status and legal effect are not made clear in china. so it is regarded that on the basis of principle of written law, legal status of administrative law should be established, then we can transform administration of law to administration by law and realize the ideal of ruling by law
現代法治國家呈現出兩大法系融合的趨勢，中國以成文法為本位，未明確判例法的法律地位與效力，有鑒於此，本文認為在堅持法典化的原則下，應確立典型判例的法律地位，這樣有助於從依法行政到法治行政的轉化，進而實現法治國的理想。分享友人