股票的發行 的英文怎麼說
中文拼音 [gǔpiàodefāháng]
股票的發行
英文
issuance of stock- 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...
- 票 : 名詞1 (作為憑證的紙片) ticket 2 (選票) ballot 3 (鈔票) bank note; bill 4 (強盜綁架去用做抵...
- 的 : 4次方是 The fourth power of 2 is direction
- 發 : 名詞(頭發) hair
- 行 : 行Ⅰ名詞1 (行列) line; row 2 (排行) seniority among brothers and sisters:你行幾? 我行三。where...
- 股票 : shares; share certificate; stock certificate; equity security; stock; capital stock
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Through the address of general theory and methods of ipo pr i c i ng, the analysis ipo pricing methods in western markets, and a contrast with china " s practices, the author i i lustrated the difference between chinese and western markets, and the institutional factors that led to the difference
通過對ipo定價的一般理論與方法的論述,及對西方主要證券市場的發行定價方式的詳細分析,對照我國ipo的實踐,深入闡明了我國發行市場與成熟股票市場間的差異,以及造成中外發行市場差異的深層制度原因。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。In present dissertation, most stirpses are repartitioned and redefined, and the structure characteristic, course of formation, cause of formation, function and risk of stirpses are analyzed. the main conclusions are : [ 1 ] rapid development of corporations engenders urgent demand of financing, conflict between capital market imperfection and demand of financing leads corporations to control listed corporations by purchasing " shell " and enhance it ' s financing capability ; [ 2 ] two kinds of pricing institution of stock provides stirpses for controlling listed corporations by low cost, monitoring institution imperfections provides corporations for operating listed corporations. adjust of national assets provides more " shells " ; [ 3 ] more private corporations purchase listed corporations, some of them form stirpses ; [ 4 ] stirpses have positive influence about adjusting industry and enhancing capital market financing function ; [ 5 ] stirpses magnify financial risk by controlling listed corporations, and transform listed corporations from shareholders benefit to block shareholder benefit, having tendency of infracting shareholders benefit
本文主要的結論: [ 1 ]中國企業的迅速發展對融資有迫切的要求,中國國內資本市場發展不完善與這種強烈的融資需求的沖突導致了企業尋求通過買「殼」的方式控制上市公司,以此來提高自身的融資能力; [ 2 ]中國上市公司股票的兩種定價機制為「系」低成本控制上市公司提供了可能,監管機制的不完善為「系」提供了操縱上市公司的空間,國有資產在調整過程中從部分競爭行業退出,為資本市場提供了一定數量的「殼」資源; [ 3 ]民營企業紛紛買「殼」上市,在這個過程中,部分實力突出的企業形成了「系」 ; [ 4 ] 「系」現象對進行行業整合、提高資本市場融資能力等方面起到了積極的作用; [ 5 ] 「系」通過對上市公司進行的操縱放大了金融風險,將上市公司的股東利益最大化變為大股東利益最大化,存在著侵害小股東利益的潛在傾向。A company issuing bearer share certificates shall record the number of such share certificates, their serial numbers and their issuing dates
發行無記名股票的,公司應當記載其股票數量、編號及發行日期。The carrying amount of the bonds becomes the book value of the newly issued stock
債券的維持費用成為重新發行的股票的帳面價值。Additional securities purchased from the issuer do not affect the holding period of previously purchased securities of the same class
從發行公司購買的額外股票不影響以前購買的同一類股票的持有期。When the iliquidity risk was not included in the test, the size effects was proved to exist in china ' s stock market. from the reality of china ' s stock, it is believed that the abnormal return can be accounted for by the illiquidity risk caused by manipulation. to verify the hypothesis, the turn - over rate, fluctuation of turn - over rate, the rate were introduced into the study. this study provided a joint test of the factors above
這表明在我國的股票市場,小公司效應與投資環境有關,在時間上與管理層對股票市場的政策變化有較高的相關性。在不包含流動性風險的時候,對股票的超額收益與其規模因子進行分析,發現股票表現出小公司效應。筆者從中國股票市場的實際情況出發,認為小公司效應的存在是由於超額收益沒有考慮到市場操縱而產生的流動性風險。The emission of the stock valence appears on the market when the stock when issueing, appear on the market company from company oneself interest and ensure the stock appears on the market to wait for angle successfully to set out, do not issue by par value to the stock that appear on the market, and a relatively reasonable price comes to formulate issue, this price releases price with respect to what call a share
股票的發行價當股票上市發行時,上市公司從公司自身利益以及確保股票上市成功等角度出發,對上市的股票不按面值發行,而制訂一個較為合理的價格來發行,這個價格就稱為股票的發行價。2. for a public company, what are the requirements to register
Q2 .申請為興櫃股票的發行公司須符合哪些條件?This market created a proper and legal channel for small - and - medium sized businesses to involve in trading of unlisted stocks
Q2 .申請為興櫃股票的發行公司須符合哪些條件Article 3. the issuing and trading of stocks shall observe the principle of being open, fair, honest and trustworthy
第三條股票的發行與交易,應當遵循公開、公平和誠實信用的原則。On the page immediately following the summary section, the ipo issuer should set forth, under the caption " risk factors, " a discussion of the principal factors that make the offering speculative or risky
在緊接概要部分之後的一頁中,股票的發行者應在「風險因素」這一標題之下討論使得股票購買具有投機或風險性質的主要因素。By describing the process of china huayuan group becoming a public company, i discuss the process from the positioning of this group, business framework design till its stock shares issue, and demonstrate the roles of investment bank in asset rearrangement
以中國華源集團重組上市的操作過程為例,該案例從企業概念定位、架構設計到股票的發行,充分體現了投資銀行在資產重組中的作剛。Although we generally intend to raise additional funds, we have no specific plans, understandings or agreements with respect to such an offering, and we have given no contemplation with respect to the securities to be offered or any other issue with respect to any offering
雖然我們總的來說是希望能積累附加資金,但是我們沒有關于該股票的具體的方案,協定或協議,我們沒有關于該有價證券出價或任何其他關于該股票的發行的預期。The result of apb opinion 25 is that the grant of stock options having an exercise price equal to the fmv of company stock on the date of grant generally will result in no accounting charge. while statement 123 establishes a " fair value " based method of accounting for stock - based compensation plans
在這些法案中, ( 193年證券法》與( ( 19年證券交易法》對股票期權計劃的實施具有較直接的影響,其中,前者規范股票的發行,後者對股票的交易進行管理。Although the company generally intends, once its shares are quoted on the over the counter bulletin board, to raise additional funds, we have no specific plans, understandings or agreements with respect to such an offering, and we have given no contemplation with respect to the securities to be offered or any other issue with respect to any offering
盡管公司總體上打算,一旦股票在場外交易公告版報價就募集資金,我們並沒有對此次募集的具體的計劃、一致理解或協議,我們也沒有就所銷售的證券或者對任何其他有關任何股票的發行進行規劃。Article 182 if, in violation of the provisions in article 39 of this law, a professional institution or individual that produces documents such as audit reports, asset appraisal reports and legal opinions for the issuance or listing of shares purchases or sells shares, it or he shall be ordered to dispose of the illegally obtained shares according to law, the illegal gains shall be confiscated and a fine of not more than the value of the shares purchased or sold shall, in addition, be imposed
第一百八十二條為股票的發行或者上市出具審計報告資產評估報告或者法律意見書等文件的專業機構和人員,違反本法第三十九條的規定買賣股票的,責令依法處理非法獲得的股票,沒收違法所得,並處以所買賣的股票等值以下的罰款。Part eight brings to light the chief risks which the commercial banks face in providing stock collateral loans, then gives some precautions against the risks. part nine puts forward some suggestions on how to improve the system of the share right pledge, for example, permitting natural people and common enterprises get stock collateral loans, expanding the scope of the pledge stocks, and so on
第八部分首先結合商業銀行發放股票質押貸款,揭示股踉押貸款面臨的主要風險,如借款人風險、質押股票價值風險、股票質押的法律風險、股市的系統性風險、質押股票的發行公司帶來的間接風險以及質押欺詐風險等,在此刎上,進一步提出些有針對性的風險防範措施。Shenhua is seeking to price its shares at between hk $ 7. 25 and hk $ 9. 25 apiece, with analysts expecting the final price to be set at, or just below, the middle of that range
神華正尋求將其股票的發行價定在每股7 . 25港元至9 . 25港元之間,分析師預期,最終價格將被定在該區間的中間價,或略比中間價低一點。Chao chien - ming was found guilty wednesday of using privileged information to buy shares of a partly state - owned property development company
趙建銘星期三被認定利用特權信息購買一家部份國有房地產開發公司股票的罪行成立。分享友人