According to these questions, we could find the material countermeasures : scientific property rights should base on the stock reforming, control the agent ' s " seeking rent " behaviour, eliminate the controlling of state stock ; bank should firmly circumfuse operational, informatics, normal objects, make out rigid interior institutions ; considerated our financial material situations, the institution of supervision should integrate the interior supervision and exterior supervision and leave on indirect supervision. we should fast establish a leading supervision system without changing the segre gation situation, so as to support a better environment for innovation and also better keep away innovation risk
針對這些原因，提出了如下對策：科學的產權制度應對商業銀行實施徹底的
股份制改造，減少內部人控制現象，克服國有
股一股獨大現象；商業銀行應緊緊圍繞「操作性目標、信息性目標、合規性目標」三大目標，建立互相制衡、有力約束的剛性的內控制度；考慮我國金融業的具體情況，新的監管制度以間接監管為主、內外監管相結合，建立由央行為首的「牽頭監管模式」 ，統
一金融監管，給銀行業務創新提供
一個較為寬松的環境並且實現對業務創新的風險的有效防範。
From the concept and evolution of the exceptional exclusion system of the voting rights of corporation, it actually is exception betray of one percent stock equal to one percent voting rights, legionary capital deciding principles. however, it is different from the limitation system of the voting rights of corporation, it possesses the following legal characteristics : the particularity to apply principal part, the exception character of cause conditions, the compulsive character of rules restriction and the uncertain character of behavior effectiveness
從公司表決權例外排除制度概念的界定、制度的源起與演變來看，該制度實質上是對
一股一表決權的資本多數決原則的例外背離，卻又不同於公司表決權限制制度，其具有適用主體的特殊性、原因情形的例外性、規則約束的強制性、行為效力的不確定性等法律特徵。
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。
The ensuring battle in the new york stock exchange drove the price of northern pacific railway company from $100 to over $1, 000 a share.
接著發生在紐約證券交易所的斗爭，把北太平洋鐵路的
股票價格從每
股一百美元提高到
一千美元以上。
Coke, like many ultra large cap growth stocks that were hot in the 90s, got so expensive it had nowhere to go but down
像許多90年代的超大型成長
股一樣，可口可樂的
股票已非常昂貴，除下跌外它已別無它途。
So, author draws conclusions : shares structure of firm in share market is related to achievement of firm, and concentration degree of shares structure has negative relation with achievement of firm. that is to say : the higher concentration degree of shares structure is, the worse achievement of firm is ; the bigger proportion of corporation share is, the better achievement of firm is ; public share has influence a little on achievement of firm
因此，得出以下結論：上市公司
股權結構與公司業績存在相關關系，並且
股權集中度與公司業績負相關，即在中國國家
股「
一股獨大」的現狀下，
股權集中度越高，公司業績越差；法人
股所佔比例越大，公司業績越好；公眾
股對業績基本沒有影響。
Smaller shares have held sway ever since the bursting of the dotcom bubble [ 3 ]
自從網路經濟泡沫破滅以後，小型
股一直是
股市的主導。
In front lay a waste plain dotted here and there with handfuls of our scouting cossacks
前面是
一片沙漠，
一小
股一小
股的哥薩克偵察兵在沙漠中的某處慢慢地移動。
Haha, your face is as red as monkey ' s butt
哈哈，你的臉像猴子屁
股一樣紅
During all this time, i was in the murthering humour ; and took up most of my hours, which should have been better employ d, in contriving how to circumvent, and fall upon them, the very next time i should see them ; especially if they should be divided, as they were the last time, into two parties ; nor did i consider at all, that if i kill d one party, suppose ten, or a dozen, i was still the next day, or week, or month, to kill another, and so another, even ad infinitum, till i should be at length no less a murtherer than they were in being man - eaters ; and perhaps much more so
我設想種種計謀，下次再看到他們時該怎樣向他們進攻，尤其是要提防他們像上次那樣，分成兩
股前來。但我完全沒有考慮到，即使我把他們
一股通通殺光，比如說，殺掉十個或十二個，到第二天，或第二個星期，或第二個月，我還得再殺掉他們另
一股。這樣
一股一股殺下去，永無止境，我自己最後豈不也成了殺人凶手，而且，比那些食人生番也許更殘暴！
They have remained volatile since then
自那之後，電信
股一直處于劇烈波動之中。
Author thought maybe it was mainly because our listed companies had special ownership structure which the stated - owned rights was in the position of domination. this lead to the default of controlling agent costs by dividend policy
作者分析這其中最主要的原因是由於我國國有
股一股獨大的
股權結構，導致
股利政策無法真正起到控制代理成本的作用。
At the same time the corporate governance mechanism was improved step by step. but in the other hand, because of the state - owned shares accounting for more than two - thirds of the total equities, it ' s general that state - owned assets operate inefficiently and the proceeding of the reform of china ' s soes is very slow
現代企業制度正在逐步確立，企業的治理機制日趨完善，產業結構日趨合理，公有制經濟正在退出，非公有制經濟有所增長，但國有及國有控
股企業仍佔70左右，國有
股「
一股獨大」的現象仍很普遍。
So far, nearly 10 percent of listed firms in shenzhen and shanghai are net - related. china ' s net - related stocks are taking shape
截至目前，深滬兩市已有近10 %的公司與網路有關，構成了中國的網路
股一族。
This assumes that, as with previous ipos, the new share price soars above that of those already listed in hong kong
這是假設，與以前其他（回國發行
股票的）紅籌
股一樣，中石油的在國內的新
股股價飆升，超過其在香港的
股價（似乎應該是市值） 。
The share ownership structure of china ' s listed companies is unreasonable in many parts. first, it is dominant that only one stockholder held more than 50 %. of shares in one company, which, is usually the state enterprise
中國上市公司
股權結構存在著很多不合理的因素，主要集中在四個方面：
股權高度集中，造成大
股東的霸權;產權結構單
一，國有
股一股獨大；流通結構分裂，三分之二的
股權不能流通；經營者持
股比例低，不利於對經營者的激勵。
If america were a stock, it would be a “ buy ” : an undervalued market leader, in need of new management
如果美國是支
股票，那它將是
一個「績優
股」 ：
一個被低估的需要新型管理的市場領導者。
A total of hk $ 10. 91 billion was wiped from the local market ' s capitalisation in a single day
港
股一日內市值蒸發了
一百零九億
一千萬港元。
The ownership structure is characterized by state - owned shares dominating singly and artificially division between circulating shares and non - circulating ones
國有上市公司的股權結構顯著特徵是「國有股一股獨大」以及「流通股、非流通股人為分割」 。
