capital at risk 中文意思是什麼
capital at risk
解釋
風險資本-
Tmt mainly centralizes its operation on railway traffic industry, which makes it face the risk of single market. at the same time, governable capital increase leads to the outstretched demand
時代新材公司業務過于集中在軌道交通行業，存在單一市場的風險，同時可支配資金的快速增加導致了擴張的需求。 -
First, the thesis gives a detailed analysis about the causes and expressions of the medium and small - sized enterprises financing problems, concerning the relationship between banks and enterprises enterprises status, related policy and finance service etc. then, in order to solve the financial problems effectively during the developing process of the medium and small sized enterprises, on the basis of the development stage, concrete environment and characteristics of the medium and small sized enterprises in our country, the thesis gives relevant suggestions about the improvement of enterprises " inside financial environment channel expansion of the indirect f inane ing, more emphasis on direct financing trend of the state ' s policy and innovation of financial instruments etc. at last, in order to welcome the coming technology economy, the thesis especially analyze how to use the capital from at home and abroad to develop risk investment, to ease up the contradiction of capital supply and demand, and to support the fast development of the hi - tech medium and small - sized enterprises
然後，為有效解決中小企業發展中遇到的資金問題，根據我國中小企業所處的發展階段、具體環境和自身特點，結合我國金融市場的現狀和未來發展趨勢，從改善企業內源融資條件、拓展間接融資渠道、注重直接融資手段、國家政策取向、金融工具創新等方面，提出相應的對策建議。為迎接知識經濟的到來，本文還特別探討了利用國際、國內資金發展風險投資業務，緩解我國高科技中小企業資金需求與供給的矛盾，支持高科技中小企業快速發展的措施。本文試圖通過對中小企業融資問題的研究，探索我國中小企業特別足高科技中小企業發展面臨的一些共性問題，為我國中小企業融資方式和融資體制的改革略陳管見。 -
At present the finance industrial in china faces great challenges, and the proclamation of basel agreements makes a higher requirement on the capital quality 、 free capital and internal risk controlling
目前我國金融業面臨wto的挑戰， 2001年新的巴塞爾協議出臺，也對銀行的資產質量和自有資本，內部風險控制提出了更高的要求。 -
On the one hand, the author discusses markowitz ' s mean - variance portfolio selection model, single - index portfolio selection model, and simplified model of optimal portfolio selection. at the same time, based on the rules of optimal portfolio selection and other risk - metric indices, the author also discusses mean - absolute deviation model, mean - semivariance model and mean - value at risk model. on the other hand, the author discusses the asset pricing model, including the capital asset pricing model ( capm ), the multi - factor asset pricing model, and the arbitrage pricing model ( apt )
一方面，作者討論了馬科維茲的均值-方差資產組合選擇模型、單指數資產組合選擇模型、最優資產組合選擇的簡化模型，同時根據最優資產組合選擇原則和其他風險度量指標，討論了均值-絕對離差、均值-半方差和均值-風險價值資產組合選擇模型；另一方面，作者討論了資產定價模型，包括多因素資產定價模型和套利定價模型，特別是在四種因素變量的基礎上，探討多因素資產定價模型。 -
This paper takes the venture capital company as subject in risk management, and the risk factors in venture capital investment cycle as object, spreads out from three sides which include outside guarantee of risk management in venture capital that is to keep away macro condition risk, inside base that is congnition of risk managementsubject, and central content that involve micro management mechanism of different risk object. through a plenty of emperical investigation including evaluation of macro condition risk, identification of subject of risk management, information obstacle in decision process, agency risk performance of entrepreneur, risk attitude of venture capitalist and entrepreneur, control actuality at post - investment stage, supply and demand of value - added service, and exit practice etc., the paper firstly analyzes the risk management mechanism of venture capital wholely in system
本文以創業投資公司為風險管理主體，以創業投資周期中的風險因素為管理客體，從外在保證? ?宏觀環境風險防範、內部基礎? ?風險管理主體的認知、核心內容? ?不同風險客體的微觀管理機制三個層面展開，首次通過大量的實證研究，包括宏觀環境風險的評價、風險管理主體的認知、決策過程中的信息障礙、創業企業家代理風險的行為表現、創業投資家和創業企業家的風險態度、投資后階段的監控現狀、增值服務的供需、退出實踐等內容，在理論分析和實證調查的基礎上系統而全面地研究創業投資的風險管理機制。 -
Expert of conduct financial transactions suggests, because miss zhang can control capital every year to be controlled in 50 thousand yuan, cost among them 5000 multivariate use at buying fixed birthday danger and risk of add and major disease, 10 % what hold gross earnings, accord with international convention completely
理財專家建議，由於張小姐每年可支配資金在5萬元左右，其中花費5000多元用於購買定期壽險和附加重大疾病險，佔到總收入的10 % ，完全符合國際慣例。 -
We shall see that it is the right hurdle rate for those projects that have the same risk as the firm ' s existing business ; however, if a project is more risky than the firm as a whole, the cost of capital needs to be adjusted upward and the project ' s cash flows discounted at this higher rate
我們應看出它（指公司資本成本）對那些與企業現有業務有相同風險的項目來說是正確的貼現率；然而，如果一個項目較企業整體更有風險，資本成本就需要向上調整（即增加） ，而項目的現金流就以這個更高的比率來貼現。 -
Generalized pareto distribution ; returns ; tail index ; value at risk ; capital - loss coefficient
Gp分佈收益率尾指數風險值資本損失系數 -
The model of this paper explores the links between the following factors and the credit rationing in china. the change of banks " attitude to credit risk may lead to credit rationing ; banks give much more emphasis on the trade cost and the payable value of collateral, which may give rise to credit rationing ; the decreasing of asset price during economic stagnation produces credit rationing ; the bias of banks " objective function from the maximization of profit and the transformation of the function relating to the reform of the financial system cause credit rationing ; if different parts of the whole markets are not integrated, the credit in the part with low capital return ratio will be rationed. during economic recession, banks tend to ration the credit in the high - risk market ; the removing of interest ceiling will narrow down the interest spread of deposit and credit at least during a period, which may strengthen credit rationing ; meanwhile, the vulnerable borrowers, including small and middle - sized enterprises, will get more credit from banks even though they have to pay a higher interest rate
論文的模型探討了下列因素和中國信貸配給現象之間的聯系：商業銀行對信貸風險的態度變化，在辨別和控制信貸風險上開始投入大量的成本，這一過程會導致信貸配給；商業銀行對與法治環境相關的交易成本和抵押品清償價值的日漸關注會導致信貸配給；宏觀經濟緊縮時期資產價格下降會導致信貸配給；商業銀行經營目標函數偏離利潤最大化，近幾年金融業改革過程使商業銀行目標函數發生變化，這一變化過程可能導致信貸配給；在市場分化的條件下，收益水平低的市場會遭受信貸配給；在經濟下滑時期，商業銀行尤其會對高風險市場配給信貸；利率市場化使商業銀行的存貸利差至少在一段時間內縮窄，利差縮窄可能加重信貸配給的程度：在利率市場化條件下，弱勢借款者，包括中小企業，遭受信貸配給的程度可能得到緩解，但支付的貸款利率水平將會升高。 -
And it is not difficult to envisage a situation where higher interest rates to curb inflation could lead to large capital inflow and the associated monetary consequences that defeat the original purpose of the monetary policy change, or to exchange rate overshooting that puts financial stability at risk
大家不難想像到，為遏抑通脹而調高利率，可能會造成大量資金流入及相關的貨幣影響，以致抵銷了當初調整貨幣政策工具的預期效果，亦可能引發匯率過度調整，影響金融穩定。 -
The discuss starts from the " positive externalities " of tech - research and development, pointing out that the products of tech - research and development somewhat has the property of " public good ". without < wp = 8 > government ' s interfere, the intensity of tech - research and development by private section ca n ' t meet the need of " pareto optism " because of the " positive externalities ", as a result, the items of venture capital are insufficient and the development of venture captal will be pull back. rational policies of government expediture can internalize the " positive externalities " - transforming them to more revenue or less cost of the tech - research and development private suppliers. be feared of the high risk at the beginning of venture capital, the private section ca n ' t provide enough capital, the " capital gap " should be fetched up by government with equity capital, creditor ' s right capital, subcidy, at the same time, some other means, such as government purchase, credit guarantee, capital insurance, tax expenditure can promte private capital, is also important. in this part, the function of the above means, the establishment and enforcment of them are breafly discussed. because tax policies play a critical role in fiscal policy, r - y chart is used to analyse the relation between tax and venture capital, at last, a conclution is drawn : tax expenditure can promote venture capital
這部分論述從科技研發成果的「外溢性」入手，指出科技研發成果在不同程度上具有「公共品」性質，這種外溢性使得在純市場條件下，私人部門研發活動強度達不到社會資源配置最優的要求，也使風險投資項目來源不足， < wp = 6 >阻礙風險投資的發展。合理的政府財政支出政策可以使「外溢性」內部化。之後，論述了風險投資資本來源與政府財政支出政策的關系，由於風險投資尤其是其初期的高風險性，民間風險資本不足，應由政府以股權及債權投資、補助等財政直接支出方式彌補資本缺口，運用政府采購、財政擔保、保險、貼息、稅收優惠等間接支出方式，鼓勵民間資本進入風險投資領域也同樣重要。 -
Therefore, the risk source of regional water system can be confirmed, the risk degree at varies planning year and the strategic planning flames can be carried out in the future and realize sustainable social a nd economic development and water resource sustainable utility. thus the study on regional water resource risk management has theoretic and practical value. taking the capital circle region as the case study, the paper systemically studies the theories and methods of regional water resource risk management based on concerned specialty knowledge, such as systems engineering, probability theory, water resources and hydrology, fuzzy mathematics and compute mathematics
本研究在繼承已有研究成果的基礎上，以首都圈（京、津地區）為例，綜合運用水資源工程、風險分析理論、系統工程、概率論、模糊數學、計算數學等相關專業知識，對區域水資源短缺風險管理的理論與方法進行了系統研究，本文特色在於對風險分析理論的系統化、實用化和理論聯系實際方面貢獻，主要研究內容涵蓋如下方面： （ 1 ）對水資源風險的定義進行了詳細闡述，建立了水資源系統可靠性和風險系統框架，構建並描述了水資源風險的性能指標，對水資源系統的風險屬性和風險特性等進行了分析。 -
Secondly, this part provides the theory of risk unconservation and demonstrates it strictly. thirdly, this part throws light on the risk unconservation in venture capital investment with hypercyclic theory, and provides the paradox of risk unconservation when hypercyclic is not valid. at last, this part sets up a multi - layer fuzzy decision model and discusses the risk and revenue of different people with different risk preferences
探討了聯合投資收益與風險分攤的機理；提出了聯合投資的風險不守恆定理，並進行了嚴格的數學推導證明；運用超循環理論對聯合投資風險不守恆進行了闡述，並提出了超循環無效時的風險不守恆悖論；然後建立了投資組合的多層模糊決策模型，對不同的風險喜好者的風險和收益進行了探討。 -
( var ), and then measures capital at risk ( car ) which is used to resist the whole unexpected loss of the bank on the base of var of all risks, and correlates risk with income to calculate the risk adjusted return on capital ( raroc ) to evaluate the outstanding of banks
對所有風險採用統一的量化標準? ?受險價值var ，然後以所有風險的var值為根據測量用以抵禦銀行整體意外損失的風險資本car ，並把風險和收益聯系起來計算資本的風險調整收益率raroc來衡量銀行的經營業績。 -
The second chapter builds up indicator system of macroscopic finance risk according to standard, objectivity, sensitivity and operability, which includes macroscopic finance environment risk, bank default risk, foam economic risk, national debt risk and foreign capital impacting risk. next, it standardize indicator by adopting mapping, and applies hierarchy analytical process in determining weight. at last, it draws statistic measurement models by weighted average method
其次，根據指標體系構建的規范性、客觀性、靈敏性和可操作性等原則，構建了由宏觀經濟環境風險、銀行壞賬風險、泡沫經濟風險、國債風險和外資沖擊型風險構成的宏觀金融風險評價指標體系；然後按照映射法對指標進行標準化處理，採用層次分析法確定各大類因素的權重，並用加權平均法得出宏觀金融風險的統計度量模型。 -
The third part introduced the effect about the management and distribute on capital at risk
第三部分介紹了經濟資本管理及其分配在風險控制中的作用。 -
The amount of capital, taken on by each department, sub - bank or operation, should equal the risk it holds. the fourth part analyzes the puzzles we are encountering about management on capital at risk
各個部門、分行和各項業務存在多少風險，就應該分配等額的經濟資本;各部門、分行和各項業務佔用多少經濟資本，就意味著承擔了多少風險。 -
In face of competition and challenge brought by foreign financial institutions after entering wto in 2006, the commercial banks should focus on management on capital at risk, change the way of development, enrich the capital, and reach the 8 % capital adequacy which < basle accord > ordered
面對2006年銀行業全面開放后外資金融機構進入中國市場所帶來的競爭和挑戰，商業銀行更應該關注經濟資本管理，轉變業務增長模式，充實資本金，使之達到《巴塞爾協議》規定的8 %的資本充足率。 -
Investment banks use “ value - at - risk ” models which mean that, when volatility rises, they cut the capital they allocate to trading
投行廣泛採用「風險價值」模型：當市場波動率上升時，它們將減少交易資金，而這通常意味著減持資產。 -
An important aspect of this amendment is that, as an alternative to a standardised measurement method, banks are permitted, subject to strict quantitative and qualitative standards, to use internal value - at - risk models as a basis for measuring their market risk capital requirements
草案法第12條應該得以補充，添加上基金經理人的責任。首先，推廣和促進基金的發展其次，在基金獨立董事的監管之下，代表這些基金尋求法定的權利。
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