股環狀面增加 的英文怎麼說
中文拼音 [gǔhuánzhuàngmiànzēngjiā]
股環狀面增加
英文
increased thigh circumference- 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...
- 環 : Ⅰ名詞1 （環子） ring; hoop 2 （環節） link 3 （姓氏） a surname Ⅱ動詞（圍繞） surround; encircle;...
- 狀 : Ⅰ名詞1 （形狀） form; shape 2 （情況） state; condition; situation; circumstances 3 （陳述事件或...
- 面 : Ⅰ名詞1 （頭的前部; 臉） face 2 （物體的表面） surface; top 3 （外露的一層或正面） outside; the ri...
- 環狀 : cyclic annular; ringlike
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On the basis of the above summary the creativities of the sharing systems of the shanxi merchants are discussed : ( 1 ) concentrating capital was the result of the average division in the form of organizing capital not the foremost motivation, witch was in fact in order to ensure the rights and benefits of shareholders ; ( 2 ) introducing labor - sharing system was the measure which the shanxi merchants adopt to the rise of the price of labor factor relative to that of capital factor in qing dynasty ; the labor - sharing system promoted the increase of profits of the shanxi merchants " enterprises greatly. however, that effectiveness came into existence only in normal condition. if enterprises were into the red or drawing near bankruptcy the labor - sharing system would otherwise steep up the decline of the enterprises
在此基礎上，對晉商股份制的上述創新進行了討論：集中資本是資本股份化的結果，而不是最初動因，內在動因是維護股東權益；在收益股份化的基礎上，引入頂身股制是清代晉商企業應對勞動要素價值相對提高的舉措；頂身股制極大地促進了晉商企業利潤的增加，但這僅限於企業處于正常經營狀態時，當企業面臨虧損或瀕臨倒閉，頂身股制反而會加速企業的衰亡；晉商產權制度創新（包括產權結構、組織結構的創新）迫於清代晉商企業的內外部條件變化，具體形式的產權制度是創新主體面對環境變化從成本收益角度出發仔細斟酌、權衡的結果。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。
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