股權價值 的英文怎麼說
中文拼音 [gǔquánjiàzhí]
股權價值
英文
value of stock rights-
How would the value of equity be determined
如何確定股權價值?In this market, valuation of the stock becomes the core problem. how can one estimate the value of stock
在價值投資理念主導的市場格局下,公司股權價值的確定就成了一個核心問題。Chapter 5 gives an actual case to show the procedure of valuing the equity of non - listed companies in china with dcf models
第五章以一個真實的案例演示了應用貼現現金流模型評估我國非上市公司股權價值的基本過程。Taking advantage of the substantial changes in the argentine economy, to acquire companies with obvious up - side potential in terms of growth and equity value
美國愛克賽爾集團充分利用阿根廷經濟穩定的變革,收購根據發展和股權價值有明顯開發潛力的公司。The associated press calculates total pay based on salary, bonuses, incentives, perquisites, above - market returns on deferred compensation and the value of stock options and other awards granted during the year
美聯社基於去年的工資、獎金、額外補貼、超市值遞延補償和職工優先認股權價值以及其他激勵計算出其收入總額。Article 8 the parties to a merger shall take the result valuated by the asset valuation institution on the value of the share rights under planned transfer or the assets under planned sale as the basis for determining the transaction price
第8條並購當事人應以資產評估機構對擬轉讓的股權價值或擬出售資產的評估結果作為確定交易價格的依據。The paper is composed of five chapters. chapter 1 introduces the fundamental principals, forms and preconditions of dcf model, discusses the relationship of the valuation of equity to the valuation of integrate company
本文總共分五章:第一章簡單地介紹了貼現現金流模型的基本原理、基本形式及其應用條件,並討論了公司整體價值評估與股權價值評估的關系。There exists the information asymmetry between venture capitalists and venture entrepreneurs which can cause the problem of moral hazard. to deal with the problem of moral hazard, it is necessary to choose the proper investment tool and compensation policy
經過對三者的對比分析發現,期權定價法更好地考慮了企業價值變動的不確定性對股權價值的影響,因而是更合理的定價方法。In the view of valuation practice, the author discusses how to apply dcf models for valuation of non - listed companies more effectively. this paper especially probes into two problems in the valuation of non - listed companies in china, one is to measure the discount ratio of the expecting cash flows, and the other is the estimation of valuation discount for the lack of marketability
本文主要是從評估實踐的角度,探討如何更有效地運用貼現現金流模型對非上市公司的股權價值進行評估,重點討論了我國非上市公司股權價值評估中貼現率及股權缺乏流動性的價格折扣的估算。Because the return rate has many good characters such as the following, we estimate the return rate by use of the characters. theorem 1 [ 20 ] set kernel function k ( u ) and density function f ( x ) satisfy the following conditions
第三部分研究在收益率不服從正態分佈的情況下用核估計方法對股票的收益率密度做出估計,然後算出在期滿日時的股價,再用非參數估計方法對歐式看漲期權價值進行評估Dissatisfaction with traditional accounting - based performance measures has gained value - based alternatives great popularity in western corporate internal management, among which economic value added ( eva ) is definitely the most prominent. in china, eva concept has now begun to attract considerable attention both theoretically and professionally, but the research findings are relatively limited as to the usefulness of eva in china
該方法以股東價值最大化為公司目標函數,考慮了權益資本成本,並且對會計體系中不合理的部分進行了必要的調整,克服了傳統指標的一些缺陷,從而更準確地反映公司的價值創造能力和經濟效率。It is important to distinguish the value and the cost of eso, which is the premise of studying the incentive effects and performances of eso contracts
區分股票期權成本與股票期權價值非常重要,這是研究股票期權激勵效應與績效的基本前提。 2 、從一個新的角度研究股票期權激勵合約。Then contra posing the fact of chinese economic, the author tries to find the key in designing a new accounting mechanism about stock option ' s accounting measurement and recognition in china, referencing the accounting basis theory - the basic accounting concepts about cost and account entity assumption. finally give two examples to ensure the theory mentioned. the author states the key to designing the mechanism about stock option ' s measurement and recognition is to solve four core problems, including if the stock options must be recognized as compensation cost ; if any, how to measure their value ; and if the elements of stock option changed, it is necessary to adjust the changes, or re - recognition, etc. finally, the author summarizes recognize the stock option compensation cost according to the exercising ways of stock option by the employee
本文認為,在設計股票期權會計處理方法時,應當首先明確並解決以下四個核心問題,即( 1 )是否應當將股票期權確認為一項薪酬費用; ( 2 )如果應當確認為一項薪酬費用,在行權前股票期權價值發生變化,是否應當對股票期權的賬面價值和薪酬費用進行調整; ( 3 )如何衡量股票期權本身的價值和薪酬費用,如何確定薪酬費用的分攤年限,及在各年度如何合理分攤; ( 4 )如何核算每股收益以反映股票期權實施對每股收益的稀釋作用,如何對股票期權計劃下的所得稅進行會計處理等。There are many valuation models such as cdf, eva model, p / e model and p / b model etc. there is one common character of these models that is the input data of these model is all financial information. however, financial analyst usually estimated different value of the same stock using different models and the estimated value was different from the actual market price. what is the reason lead to this result
各種股權估值模型都有一個共同的特點,即模型的輸入變量為公司財務信息,但根據不同的模型,證券分析師估出的股票價值都不一樣,而且跟市場實際價格往往也有很大的差距,那是什麼樣的原因導致這種差距呢So shareholder ' s value means the ordinary shares " value owned by the shareholders
所謂股東價值是指企業股東所擁有的普通股權益的價值。Deducing the pricing formula of executive stock option ( eso ) which is different from black - scholes model in a new method called " certainty equivalence "
因此我們用「確定性等值」方法推導出不同於black - scholes模型的股票期權價值的定價公式。The formation of rights of control of chinese companies on the market is the result of compulsory variation of system. in a company, collaction of control can influence the realization of stockholder value ’ s maxization, because only the people possessing rights of control are able to obtain private benefits. in the market of modern countries, because the rights of stockholder circulate generally, and the market of rihts of control is also very developed. but now, in our country, non - circulating stocks take up above 70 % in our country ’ stucture of rights of stockholder. under this kind of “ shareholder strcture ” backround, the market of rights of control is only some market excluded formal matket
中國上市公司控制權形成是制度強制變遷的結果,在一個公司內控制權的配置會影響到股東價值最大化的實現,因為擁有控制權的人會得到控制權的私人收益,在發達國家的證券市場由於股權一般都是流通的,其控制權市場也較為發達,但在我國目前的股權結構中,非流通股佔了70 %以上,在這種「股權分置」的背景下控制權市場只是場外市場,控制權市場的不發達並不能忽視了我國的上市公司的控制權,特別是在證券市場不斷深化改革的過程中,控制權問題日益突出。The introduction black - scholes models still assumed, namely the introduction of modern process ( wiener process, also called brownian motion ) to save the stock yield random fluctuations, weak markets and the effectiveness of the use of consistent share of the techniques ( ( markov property ) to describe the stock price change random process, the use of risk - neutral pricing theory through the analysis of the nature of asset price process martingale, established european style to the value of stock options with mathematical models
本文仍然引入black - scholes的模型假定,也即引入維納過程( wienerprocess , alsocalledbrownianmotion )來刻畫股票收益率的隨機波動,採用與弱型市場有效性相一致的股價的馬爾可夫性( markovproperty )來描述股票價格變化的隨機過程,運用風險中性定價理論,通過分析資產價格過程鞅的性質,建立了歐式再裝股票期權價值的數學模型。The first part of this text recommends and explain the intension of the system of executive stock option with its key element, characteristic, current development, positive and negative effects, etc. which offering basic support for following analysis ; the second part, described the behavior of stock price and black - scholes option pricing model from the angle of quantitative analysis, and discuss the value factor of stock option with its encouragement, analyzed the change of every factor in black - scholes option pricing model impact on option worth ; then analyzed the leverage effects and manager ' s morals risk model of executive stock option, at last, considering the main defect existing in the system of executive stock option at present, that is : it depends on stock market unduly, and the stock option incomes of manager has no relationship with manager ' s achievement. this text bring forward the manager synthesizes achievement and appraises model
本文的第一部分全面介紹和闡述了經理股票期權制度的內涵,構成要素,特點,發展情況和正負效應等,為後面的分析提供了基本支持;第二部分,從定量分析的角度出發描述了股票價格行為和black - scholes期權定價模型,並以此為理論基礎探討了股票期權的價值因素和激勵性,分析了black - scholes期權定價模型中各因素的變化對期權價值的影響;接著分析了經理股票期權的杠桿效應和經理人道德風險模型,最後,針對當前經理股票期權制度存在的主要缺陷即:過度依賴股票市場,經理的股票期權收入與公司的業績缺乏相關性這一問題提出了經理綜合業績評價模型。Fast - growing businesses, many of them in high - tech fields, sold 515 minority stakes worth ? 1. 78bn ( 1. 19bn )
英國快速增長的企業(其中許多是高科技企業)出售了515筆少數股權,價值17 . 8億歐元。分享友人