股本估價 的英文怎麼說

中文拼音 [gǔběngūjià]
股本估價 英文
capital stock assessment
  • 股 : Ⅰ名詞1 （大腿） thigh; haunches 2 （機關、企業、團體中的組織單位） section of an office or enterp...
  • 本 : i 名詞1 （草木的莖或根）stem or root of plants 2 （事物的根源）foundation; origin; basis 3 （本錢...
  • 估 : 估構詞成分。
  • 價 : 名詞1. （價格） price 2. （價值） value 3. [化學] （化合價） valence
  • 股本 : capital stock; capital; stock; equity股本比率 ratio of capital stock; 股本持有比例 capital shares...
  1. According the original thoughts, this paper circumstantiates how to carry this theory into chinese practice and how to eliminate the fundamental shortcomings if foreign standards applied mechanically. therefore, in a creative way, this paper establishes a feasible eva appraisal system according to chinese listed companies " character and demonstrates it on some listed companies, such as sichuan changhong co. ; tsingtao brewery company ; and harbor line companies. in one word, this paper wishes to provide a set of more practical and predictable standard in comparison with roe and eps

    本論文正是根據其理論，首先著重對目前如何將經濟增加值實際運用於評估中國上市公司業績，進行針對性的分析和探討，從而逐步剔除機械套用國外指標體系的根本性缺陷，然後按照中國證券投資市場的特徵，創造性地建立一套符合中國實情地指標體系，同時運用這一指標體系對四川長虹、青島啤酒以及整個港口行業的上市公司五年間的業績變化情況做了仔細的運算和分析，並與現行的凈資產收益率、每股收益進行實證分析、比較，以期為上市公司業績評價提供一種更有預見性、更可行的指標體系。
  2. To develop mbo can decrease acting cost of enterprises, transform the administrating structure of corporations, rectify the business policy of the corporations, increase the stock price and achievements of corporations, and make the investors to have a good view of the corporations " tendency, realize the entrepreneurs " value which is devaluated for long time

    通過管理層收購，能夠有效地降低企業的代理成本，改變公司的治理結構，整合公司的業務，提高公司的股價及業績，促使二級市場上的投資者提高對公司未來趨勢的看好，實現被長期低估企業家的價值，並可獲得納稅上的好處。
  3. Buyers ( management ) can get profit from the raising of companies performance and the underestimated prices, avoid hostility acquisition, satisfy the needs of carving out business ; seller ( shareholder ) can reach the purpose of reducing agency cost, incent and restrict the management, peel off assets and change public - owned departments to private departments

    買方管理層可以獲得來自公司經營業績的提高和企業價值被低估的收益，避免被敵意收購，滿足創業的需要；賣方股東可以達到降低代理成本、激勵和約束管理層、剝離資產和公營部門私有化的目的。
  4. 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。
  5. Research of this paper opens out enclosing the subject that m & as and reconstruction of public companies can help to realize resource collocating of securities market, advance quality of public companies, and promote the optimization of structure and function of stated - owned economy. the paper researches how to change the financial and speculative reconstruction at present to the strategic and material reconstruction aftertime. firstly, the author proves the feasibility of m & as and reconstruction that conduces to advance management efficiency of companies and efficiency of securities market in theory, and emphasizes on some conceptions which have certain differences between westward m & as and reconstruction market and ours

    西方的並購重組理論為我們提供了一定的思考的角度，其中比較有代表性的有效率理論，從管理、經營、財務的協同效應和多元化經營、戰略重組等方面解釋了並購重組對改善企業經營管理的可能性；代理問題理論，把並購重組作為解決企業委託代理問題的一個外部機制，即當由於公司管理層的無效率或代理問題而導致公司經營管理業績不佳的時候，公司就可能面臨著被收購的威脅；信息與信號理論，認為並購重組信息向市場傳遞了有關公司管理、股票價值、資本結構等方面的信息，從而引起公司的市場價值被重新評估，導致股價波動。
  6. Under the market inefficiency hypothesis, this paper focuses on the investors ’ irrational valuations on corporate stocks, and deeply discusses the interactions among corporate finance, investment and market performance. it follows the international forward subjects, and has some important practical and theoretic significance. this paper consists of eight parts

    本文針對非有效市場的現實背景，圍繞市場投資者對公司股票的非理性估價，以中國上市公司為研究對象，深入探討其融資和投資決策及其股票市場表現的聯動反應，切中了國際前沿的熱門課題，具有重要的現實意義和理論價值。
  7. As was the case in hong kong, investors throughout the region were worried about the possibility of significant capital outflows in an environment of rising us $ interest rates : large cap stocks in the comparatively illiquid stockmarkets of thailand and malaysia were sold down sharply

    與本港的情況相若，區內的投資者憂慮美元利率上升可能導致大量資金外流：在流通性相對偏低的泰國及馬來西亞股市，大型股的估價顯著下挫。
  8. Goldman, with a staggering 33 % return on equity last year, has the highest valuation

    去年股本收益率搖擺於33 %的高盛估價最高。
  9. All of the company law take various measures to prevent watered stock in order to realize the maintenance of company ' s capital when the company is established. meanwhile, the distribution system about dividend and bonus and the relating system of company getting its own shares are discussed mainly in the maintenance of capital after company ' s working. though there are different distribution regulations about dividend and bonus, their aims are all to make balance between the interest of shareholders and creditors

    公司設立時為實現公司資本的充實，各國公司法都禁止股票折價階；大陸法系國家制定了嚴格的出資財產評估與審核制度，而英美法系則通過制定法中的原則性規定以及發達的司法判例賊份對價的充分性進行判斷；發起人的資本充實責任對確保公司資本的充實跪重要的作用，一伽括認購擔保責任、繳納邯責任和價格填補責任等。
  10. Article 40 capital reserve includes premium on capital stock, legal increment of property value through revaluation and value of donated assets accepted, etc

    第四十條資本公積金包括股本溢價、法定財產重估增值、接受損贈的資產價值等。
  11. The paper introduces the whole process in valuation with the discounted cash flow model of fcfe and indicates some possible problem in valuation

    結合案例較詳細地分析了利用股權資本現金流貼現模型對上市商業銀行估價的過程，並指出了在估價中可能存在的問題。
  12. Taking convertible options and callable options as examples respectively, the paper analyses the influence of embedded options, caused by the change in stock price and interest rate, on corporate bond ' s value. then, proposes methods of valuating approximately the influence

    本文分別以可轉換期權和可提前贖回期權為例，分析了由於股票價格及利率變化所帶來的嵌入期權的變化對公司債券價值造成的影響，即公司債券價值的敏感性，提出了大致估價這種影響的方法。
  13. Capital reserve includes premium on capital stock, legal incre ? ment of property value through revaluation and value of donated assets accepted, etc

    資本公積包括股本溢價、法定財產重估增值、接受捐贈的資產價值等。
  14. Hedge funds are attracted by arbitrage opportunities so it is not surprising that many are now trying to close the gap between public and private valuations

    對沖基金受到套利機會的吸引，難怪許多對沖基金試圖縮小公開市場估價與私人股本估價的差距。
  15. This paper precedes analysis by examples on investment income in shanghai and shenzhen stock market from 1994 to 2005 by investment strategies with financial ratios as decision basis, inspecting average rate of return of various investment strategies, standard deviation for investment income, sharpe ratio of reward to risk, and analysis on these results. financial ratios in research include : price - to - book ratio, price - to - earnings ratio, price - to - sales ratio

    本文主要對以相對估價法為決策依據的投資策略在滬深兩地a股市場1994年至2005年的投資收益進行實證分析，考察各種投資策略在這11年間的總收益、年度復合收益率、收益標準差、收益的夏普風險指數，並對結果進行了分析。
  16. Based on the number of shares currently in issue and assuming full conversion of the company1s convertible preference shares, a total of 81, 752, 000 consideration shares will be issued. the consideration shares will be issued at an agreed value per share equal to 1. 05 times the consolidated net asset value per share of the company as at the completion date. based on the company1s published unaudited consolidated accounts as at 30 june 2003, the aggregate agreed value of the consideration shares is estimated to be hk 612. 0 million, and the cash portion of the consideration is estimated to be hk 1, 545 million

    代價股份將佔中國工商銀行亞洲經擴大后股本的9 % ，按目前該公司的總發行股數及假設可轉換優先股已全部換股計算，發行代價股份估計共8 ， 175 . 2萬股，代價股份的協議價同樣地亦按該公司于交易完成日之每股綜合凈資產值之1 . 05倍計算，目前估計代價股份之協議價值共約為6 . 12億港元，亦即現金部份預計約為15 . 45億港元。
  17. The first is stock valuing and the second is to find the market price of stocks. to launch these two steps, there are two problems to deal with, namely, methods of valuing and offering styles. in this research paper, methods and styles are two basic questions

    確定發行價格一是要進行股票估值，二是發現股票市場價格，而這兩個方面涉及估值方法和發行方式問題，本文以發行定價估價方法和發行方式為研究的基本問題展開。
  18. A look at the table shows the extent of the high valuations enjoyed by internet stocks, as evidenced by their high market capitalisation ( think of it as the price in the pe ratio ) relative to their low annual revenues

    本文附上一個圖表，顯示網路股的高估價，從中你可以看到它們的高市值（可以把它當做本益比中的股價）與低營業額的懸殊對比。
  19. This essay encloses a table which shows the extent of the high valuations enjoyed by internet stocks, as evidenced by their high market value ( think of it as the price in the pe ratio ) relative to their low annual revenues

    本文附上一個圖表，顯示網路股的高估價，從中你可以看到它們的高市值（可以把它當做本益比中的股價）與低營業額的懸殊對比。
  20. In the first stage, p coefficient is computed with time serial method ; and in the second stage, as the regressions are cross section by nature, after the linear fitting of stock values on the market to the stock values being assessed, and after the statistical tests, the relations between them are analyzed with the method of gray - related - degree, besides, on the basis of choosing model parameter rationally, the suitability of dcf to chinese capital market is testified as well

    本文實證研究採用了雙程回歸技術和灰色關聯度分析方法，第一程是用時間序列求系數；第二程回歸在性質上是橫截面的，通過對股權評估價值與股權市場價值的線性擬合，對其進行統計檢驗；最後，通過灰色關聯度分析方法，分析了二者的關聯關系，檢驗了在合理選擇模型參數的基礎上， dcf方法在我國資本市場上的適用性。
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