除股利 的英文怎麼說
中文拼音 [chúgǔlì]
除股利
英文
without dividend-
Firstly, some basic concepts are not clear, such as what is the status of the company under liquidation, how to define the action of the industrial - commercial authority ' s invalidation of the license of the company, whether or not the share holders can sue to disincorporate the company, is it legal to dissolve a company without liquidation, what is special liquidation, under what situation will a company be obliged to disincorporate, who will be responsible for liquidation after the dis incorporation, etc. secondly, some primary legislative principles about disincorporation and liquidation that are adopted in foreign countries are not established in china, such as a company must be liquidated before disincorporation except for acquisition, the company remains valid during the liquidation until it finishes the invalidation registration, an ordinary liquidation must be replaced by a special liquidation under the instruction of the court when there is an impediment or a fraud, the company should apply to the court for bankruptcy when it is found that its debt is over its asset during the liquidation, the number of people execute liquidation can be several or just one, companies applied for annulment shall be judged by the court and must be liquidated, etc. thirdly, china does n ' t have some of the fundamental rules that are specified in the laws of foreign countries, such as the rule of disincorporation registration, the rule that the company should sue to let the court judge for disincorporation if there is a deadlock between share holders, the rule of credit trade - off in special liquidation, the rule that people who execute the liquidation are jointly responsible for compensating the loss of the third party caused by their activities that are illegal or vicious, the rule of special liquidation, the rule of the representation of the people who execute the liquidation, the rule of the court supervising the liquidation in an inactive way, the rule of how long the accounts and documents should be kept after disincorporation, etc. because of the lack in research and legislation, the system for companies leaving the market is highly disorganized, which harmed the interest of the creditors and relevant people, increased the risk of market exchange, damaged the order of the market economy and the ethic of doing business, wasted the resources of the society, and impaired the authority and seriousness of the law
再次，國外立法上的一些基本制度我國沒有，如解散登記制度，股東出現僵局訴請法院判決解散制度，特別清算中的債權協定製度，清算人因違法或惡意對第三人承擔連帶賠償責任制度，司法特別清算制度，清算人的代表性制度，法院消極監督清算制度，帳薄及文件在公司解散后保存法定期限制度等。由於理論研究和立法的不足，造成了我國公司法人退出市場機制的嚴重混亂，損害了債權人和利害關系人的利益，增加了市場主體交易不安全感，破壞了市場經濟秩序和商業道德，浪費了社會資源，削弱了法律的權威性和嚴肅性。文章認為，完善我國公司解散和清算制度，應借鑒和引進發達國家的法學理論和法律制度，統一我國有關解散和清算立法，在基本概念、基本原則、基本制度、基本程序諸方面進行統一規范，填補立法空白，創設法院解散公司制度，廢除行政特別清算制度代之以司法特別清算制度，健全和嚴格違反清算規定的法律責任制度（包括民事責任，刑事責任，行政責任，改變現行行政處罰范圍偏廣，民事賠償范圍偏窄，刑事追究空白太多的不協調狀況） ，從而構築起科學的公司解散和清算制度，使之符合我國經濟生活的客觀需求，符合市場經濟發展的基本方向，並與國外立法通例趨同。Therefore, in order to enhance the regulation of the offeror and the management of target company, to protect the benefits of the shareholders of target company, and to maintain the standard of the security exchange system, not only should the legislative establish the two basic principles of information transparency and equal trea tment of target company ' s shareholders, but also establish the supplementary principles of the protection of middle and small shareholders " benefits, of the forbiddance of underground transaction, of caution offer, and of anti - offer abuse
因此，除充分披露和目標公司股東平等待遇兩項基本原則外，筆者認為，要約收購還應受保護中小股東利益、要約謹慎、禁止內幕交易及阻撓不得濫用原則的規制，以加強對收購者和目標公司管理部門的規范，保護目標公司股東的利益，維護證券市場的正常秩序。英美兩國在要約收購規制方面的規范較為完善，也做得比較成功，並具有一定的代表性。We conclude that after 4 - month post - ovariectomy, the bone quantity and quality of six - month - old rats decreased, especially in the area of abundant cancellous bone such as vertebral bodies, distal femora ; the assessment of the efficiency of new drugs to prevent and treat postmenopausal osteoporosis using rat models should include these drugs ' effects to the bone mass, the bone structure, and the bone strength
提示：類似於絕經后婦女， 6月齡大鼠在卵巢切除4個月後骨量和骨質量均下降，特別在富含松質骨的部位，如腰椎、股骨遠端等；利用絕經后骨質疏鬆大鼠模型評價骨質疏鬆新藥的有效性，應包括該新藥對骨量、骨結構和骨強度的作用。However, where a secondary line is too small to be included in the indices, the xd adjustment is calculated using the dividends paid on the main line and the combined share weighting
但是，非主營業務的數值太小了可以忽略不計入指數，除權調整就用主要業務的支付紅利和加權的股份比重計算。In segmented capital markets, the law of one price doesn ’ t work. it is found that the foreign class shares typically sell at a premium in relative to the domestic class shares that can only be owned by the domestic investors in most emerging markets, but china is an exception, the chinese foreign class b - shares are traded at a discount relative to the domestic class a - shares. based on lots of relevant previous research, the thesis theoretically and empirically analyses the price difference between a and b share, trying to find out the influence factors of the price difference between a and b share
在存在中度和高度市場分割的國家，由於投資者無法通過市場間的套利行為來消除不同市場的證券價格差異，如果一家公司的股票在割裂的兩個市場同時上市，其價格並不滿足「一價定律」 :供國外投資者交易的「外資股」相對于供國內投資者交易的普通股票的價格肯定會出現溢價或折價，此即所謂的「市場分割下的外資股折溢價問題」 。This approach is adopted by the american laws when dealing with " unorthodox transactions " and according to this approach, the insider ' s possibility to make use of the inside information should be taken into consideration. as for the enforcement of the disgorgement, this paper comes up with the following suggestions. first, besides the board of directors, the supervisory board should also be entitled to enforce it in certain circumstances
在歸入權的行使方面，除董事會可以行使外，應賦予監事會在一定場合可以代表公司行使歸入權的權利；股東的代位訴訟權利也有待補充規定；賦予中國證券監督管理委員會查處內部人短線交易的權力也是一種值得考慮的思路；歸入權的行使期間需要立法上的補充規定；法律還應就短線交易利益的計算方法作出明確規定， 「最高賣價減最低買價法」值得肯定。The following conclusions are summarized from this empirical study ; ( l ) the " expected pretax monthly returns of stocks are positively correlated to dividend yields. investors need higher pretax raturns to offset the disadvantages of dividend tax, ( 2 ) the effect of dividend tax is significant on ex - dividend - day and monthly yield, but the tax effect on yearly yield is not confirmed, ( 3 ) there are other factors affecting stocks " expected returns besides tax during the ex - dividend days
對紅利徵收所得稅影響投資者我國股利政策稅收效應的實證研究的實際收入，投資者因此需要更高的期望收益以彌補稅收帶來的損失： （ ）股利所得稅對股票除權日和股利支付月份的期望收益率影響明顯，但對年期望收益率的影響沒有得到證實； （ 3 ）股利發放期間，除了稅收的影響作用外，還有其他因素對股票的預期收益率產生影響。In a perfect walrasian market with no taxes or transations " costs, share prices on the ex - dividend day would fall by exactly the value of the dividend that is paid on each share. however, it is well documented that stock prices do not fall by full amount, on average. following elton and gruber ( 1970 ), we use chinese data to examine the effect of dividend taxes on investors " relative valuation of dividends and capital gains
作為稅收金融效應的研究方法之一，股票除息日股價行為研究與公司的股利政策息息相關，直接關系著公司的股利政策是否能夠達到使得股東稅后收益最大化的目標；我國股票市場目前投機過度，現金股利被統一的課以20的個人所得稅，而資本利得稅尚未開征，這方面的研究也可以為資本利得稅的開征提供一個實證依據。Investors who hold stocks with high dividend yields should be in low tax brackets relative to stockholders who hold stocks with low dividend yield. studying the relationship between dividends and stock price movements during 1995 to 2000, we find the average of the ex - dividend day price ratio is less than one
對1995 - 2000年數據的研究結果表明，股價變動與股利比的均值小於1 ，得出除息日股價相對于股權登記日收盤價下跌幅度小於每股現金股利。Using the mfdfa method, with the sequence of yield of the daily closing quotation prices in shanghai stock exchange comprehensive index and shenzhen stock exchange component index during the period of may 3rd, 1991 to april 20th, 2006 as the sample, the author researches the fluctuation character of shanghai and shenzhen stock market
摘要利用多重分形消除趨勢分析方法，以1991年5月3日至2006年4月20日的上證綜指和深成指數日收盤價的收益率序列為樣本，研究了我國滬深股市的波動特徵。After we have a superficial realization through comparatively studying legislation example of different countries and zones, this thesis begin to probe into me rule ' s principal and theory basis. stability of the decisions and respect the procedure are two principals that must be followed defending stability of the decisions is beneficial to defend stability of law relations that are caused by decision of shareholders, defend the deal safe, promote the efficiency of the companies. respecting the procedure is beneficial to present the value of the procedure, guarantee the rights and interests of shareholders from the procedure. theory basis of deciding grounds of action and dividing the kinds of action make up theory basis of the rule of rescuing laws on decision of shareholders. the final define of grounds of action that breaking the law and the constitution of company is decided by the nature of company law and the nature of constitution of company. on the nature of company law, there are some disputes, include forced law opinion, willfully law opinion and synthetic opinion considering present company law, i think the synthetic opinion is right the nature of constitution of company has two features : self - rule and ruled by law. in general, constitution of company is a kind of self - rule law that partly ruled by law
此外，本文還討論了確認決議不存在之訴與不當決議取消、變更之訴的存在價值，綜合考慮后，決定保留確認決議不存在之訴，廢除不當決議取消、變更之訴這一弊大於利的訴訟類別。除了總體探尋股東會決議瑕疵救濟制度的理論依據外，考慮到召集制度和決議方法在股東會決議制度上的重要性和二者具體內容的繁雜，本文還重點分析了召集制度上的瑕疵和決議方法上的瑕疵兩大訴由。另外，本文創設了「決議顯著不公正」這一新訴由以防止多數決的濫用，多數決的濫用多年來一直是股東會決議中的一大頑癥，但各國公司法卻一直對其缺乏明確的規制，筆者希冀以多數決的濫用造成決議顯著不公正這一現象作為訴由，並提出具有可操作性的標準，由法官裁量判斷是否構成多數決的濫用，以期彌補股東會表決制度上資本多數決原則的不足。3. on compensation way adninistrative relative person should also have the creditor ' s rights and equity and social insurance etc. besides money compensation to protect the longterm benefit of the loses. 4. natural resource and not natural resource should be distinguished on compensation volume degree
三、在補償方式上除了金錢補償外，還應根據實際情況，給相對人發放的股權、債權，為相對人購買社會保險等，解決受損失者長遠利益。First, introduce the reasons and character of current banking m & a, then summarized the former studies of the three ways of m & a to efficiency gaining : size versus size economy, m & a versus banks efficiency, and m & a versus shareholders wealth. then introduce the research approaches of m & a efficiency gaining, especially the approaches of m & a versus banks efficiency, such as parametric frontier approaches and non - parametric frontier approaches. in the following, through roe model and dea model to study the relations between size and efficiency, finding : middle size banks efficiency is higher, larger banks have n ' t scale economy, small banks have low em, and through directly analyzing m & a efficiency of four commercial banking m & a case in china, finding : the past - merged efficiency of shanghai pudong development bank has been improved, and others have been deduced, but after three years the efficiency increased little by little
首先，分析了當前銀行並購的主要原因、特徵以及我國銀行並購的現狀與特點；接著對銀行效率水平的概念進行分析，綜述了國外對銀行並購與效率獲利的三方面的研究（考察銀行的規模與效率這種間接方式、比較並購行並購前後的效率以及並購行與非並購行的效率和考察上市銀行並購前後股東財富的變化這兩種直接方式）的有關文獻；再次對銀行並購與銀行效率獲利的分析方法進行了介紹，其中詳細地研究了前沿分析法：參數分析法和非參數分析法，並指出了這些方法的特點；然後運用財務比率分析法和dea方法對我國商業銀行規模與效率從間接角度對銀行並購產生的效率獲利進行了實證研究，結果發現：中等規模的商業銀行的效率最佳，而小規模的銀行的em值較低，同時大規模的商業銀行的規模無效；同時利用我國已發生的四個銀行並購案從直接的角度對我國商業銀行並購的效率獲利進行分析，結果發現：除上海埔東發展銀行在並購後效率提高，其他三家銀行並購后的效率都有所下降，但並購后第三年效率又逐漸回升。In the third part, the author makes an intensive study of several key issues of the reform of state - owned enterprise, such as : how to establish the company management system, prevent the lose of state - owned assets, government must construct impartial exterior environment for enterprises, the npc ( the national people ' s congress ) must legislate and position for state - owned assets, the issue of the state - owned stock, construct the legal monopolization and explode the unreasonable monopolization of state - owned enterprise, construct the social security system, make use of the invisible hand of market fully and how to supervise the operation of state - owned assets
第三部分對國企改革的幾個關鍵問題，諸如如何構建公司治理結構、防止國有資產流失、政府要為企業營造公平的外部環境、人大須立法以給國有資產定位、國有股問題、建立國有企業的合法壟斷地位和破除其不合理的壟斷、建立社會保障體系、充分利用市場這只無形之手以及如何監督國有資產的運作等進行了較為詳細的論述。第三部分由第七章和第八章組成。The author suggest that, firstly the system of compulsory withdraw the provident fund should be changed, secondly the system of the compulsory community chest should be changed, thirdly the proportion for profits allotment should be freely instead of compulsory, that is to say shareholders can make an agreement on the profits allotment proportion
對相關制度提出了意見與建議，如:改變強制提取法定公益金、改變法定盈餘公積制度、對利潤分配比例改強制性規范為任意性規范和不排除股東就利潤分配比例自行約定等。This paper used bid bid - ask spread, rare of stock turn, martin index as liquidity index, adopted event method analyze the sample of a marketable companies on shenzhen stock exchange, analyzed stock response on bulletin day, 15 days before bulletin day, 15 days after bulletin day, and dividend day, 15 days before dividend day, 15 days after dividend day by test the liquidity indexes, also considered some factor ' s influence, such as about the scale of companies, quantity of stock, the trend of share index at bulletin day and dividend day
本文利用了買賣價差、換手率和馬丁指數等三個表徵流動性的定量指標，運用事件研究法對我國深圳交易所發行a股公司的股票股利發放影響情況進行實證分析。對公告日（當日停盤則為下一個交易日） 、除權日、及前後15個交易日流動性指標進行了配對樣本t檢驗；同時分析了公告日及除權日上市公司流通規模、公司股價、股票股利的數量、大盤走勢，送增比例等因素對流動性的影響。Taking note of these conflicting pressures does not preclude holding for - profit corporations responsible for good corporate behavior, nor does it prevent nonprofit organizations from engaging in commercial activity
對這些相互矛盾壓力的關注無法排除盈利的控股公司必須具有良好的公司行為，也無法阻止非盈利的組織參加商業活動。The cash dividend or interest on a short - term investment should be written off against the book value of the investment when received, expect for those recorded in the “ dividend receivable ” account
（二）短期投資的現金股利或利息，應于實際收到時，沖減投資的賬面價值，但已記入「應收股利」或「應收利息」科目的現金股利或利息除外。The existence of implicit contracts forces enterprises to take into account not only the interests of stockholders, creditors and administrators in the process of making their financing decisions, but also the interests of other relevant beneficiaries, such as clients
摘要隱性契約的存在使企業進行融資決策時需考慮除股東、債權人、管理者之外其他利益相關者企業顧客的影響。But it does n ' t exclude other stakeholders besides the stockholders to get the corporation surplus with the precondition of not demolishing the status of stockholders
但是這並不排斥除股東以外的其他利益相關者分享企業剩餘收益，前提是這樣的分享不應該動搖股東的地位。分享友人