agency shares 中文意思是什麼
agency shares
解釋
機構份額-
For the purpose of these conditions, securities shall include but not be limited to the following investments shares in companies incorporated in any jurisdiction ; debenture stock, loan stock, bonds, notes, certificates of deposit, commercial paper or other debt instruments, including government, public agency, municipal and corporate issues ; warrants to subscribe for the above investments ; depositary receipts or other types of instruments relating to the above investments ; unit trusts, mutual funds and similar schemes established in any jurisdiction, options, whether on any investment herein described, on currencies, precious metals or other assets, or an option on an option ; contracts for the purchase or sale at a pre - agreed price and at a future date of any investment herein described or any currency, precious metal or similar asset ; viii contracts for differences or contracts on indices ; investments which are similar or related to any of the foregoing ; and unless otherwise expressly agreed, documents of title or documents evidencing title to investments previously deposited by the customer with the bank in connection with the provision by the bank of custody of investments and provision of securities services
此等條件所指的證券包括但不限於以下投資項目i在任何司法管轄權區注冊成立之公司之股份ii包括由政府公共機構市政府及企業所發行的債權股證貸款股額債券票據存款證商業票據或其他債務票據iii以上投資項目之認購權證iv有關上述投資項目之存款收據或其他種類之票據v在任何司法管轄權區成立之單位信託互惠基金及類似計劃vi上述之任何投資項目貨幣貴金屬或其他資產之期權或期權之期權vii按預先協定價格及在將來日期買賣任何此等投資項目或任何貨幣貴金屬或類似資產之合約viii差價合約或指數合約ix類似或有關上述任何一項之投資項目及x除非已另有明確的協定，客戶先前存放在本行之投資項目之所有權文件或可證明該等項目的所有權的其他文件。 -
Cyts, the first travel agency to list shares on the mainland, has moved into managing low - priced hotels and resorts
作為首家在中國內地上市的旅行社，中青旅已經涉足低價酒店和度假村經營業務。 -
Second, on the basis of its meaning, i make comparisons and demonstrate the differences between “ nominal shareholders ” and other conceptions, e. g., in the shareholder name, fraud shareholder, shareholder agency, shareholder trust, “ dividend shares ” ( gangu ) and shareholder loan with the aim of further revealing the characteristics of “ nominal shareholders ”
在此基礎上（第二步） ，筆者運用比較的方法，簡要地分析了股東掛名與股東冒名、股東假名、股東代理、股東信託、 「乾股」 、股東借貸等現象的區別，以進一步揭示股東掛名現象的特徵。 -
It is the inevitable direction of state corporation innovation that state - owned shares are possessed by numerous shareholders by decreasing state capital, which is testified by property right theory and agency theory
產權理論和委託代理理論證明，通過國有資本減持達到國有股權多元化，是國有企業改革不可逆轉的方向。 -
The focus of the thesis lies in an elaboration of the influences exerted upon a listed company ' s profit return by the monopolist position the state - owned shares occupy, by the degree to which share - right is concentrated, and by the division of non - negotiable shares and negotiable shares, as well as of the positive promotion to the company ' s profit return by the system of executives buying - back shares and employees " share - ownership. based on theoretical analysis and case study, the thesis proposes some measures for optimizing the share - right composition and enhancing the profit return of the listed companies. the conclusion can be summed up as follows : ( 1 ) owing to the absence of real trustor, the unduly long, hence low, efficiency of the agency chain, state - owned shares are prone to being controlled by insiders and to the problem of share - holders " interests being embezzled by insiders
基本的分析結論可以概括為如下幾點： （一）國有股由於真正的委託人缺位，代理鏈條過長，代理效率低下，容易產生內部人控制，並發生內部人侵佔股東利益的問題，法人股在公司治理中的效率明顯優于國有股，因此，如何完善國有資產管理體制是優化股權結構的關鍵，本文提出了完善國有資產管理體制的具體建議； （二）在非流通股與流通股並存的股權分割下，非流通股股東與流通股股東具有不同的目標函數，非流通股股東的目標函數是提高每股凈資產，而流通股的目標函數是股票的二級市場價格，目標函數的不一致，導致股東之間行為的不一致，相互沖突的行為造成效率的損失。 -
Currently, the foreign academics ’ research on the topic of agency problem is on the basis of enterprise with separate shares holdings. berle & means ( 1932 ) are the first to carry out an analysis on this topic, followed by jensen & meckling ( 1976 ), and grossman & hart ( 1980 ) who further developed this theory
目前，國外學術界對代理問題的研究是以分散持股的企業為依據的，伯爾和米恩斯（ 1932 ）首先對這一問題進行了分析，然後詹森和麥克林（ 1976 ）和格羅斯曼和哈特（ grossman & hart1980 ）進一步發展了這一理論。
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