investor owned 中文意思是什麼
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In a word, it presents a comprehensive and systemic analysis on mbo in china and foreign countries, from the followly fire aspects : the background of mba, the policy environment, the objective firms, the pricing methods, the financing system, find out differences of mba and the causes of them, and combinating special eco - nomic environment and economic traces of our country, the author puts forward counterplan. these counterplans primarily include : from strengthening laws, enhancing the information to publish, culturing to agency and etc to come to perfect the mbo policy environment on our country ; defining objective firms of mbo in realm that the state - owned property is decided to withdraw ; with the clean property worth for the foundation, synthesize to consider managers " contribute and the value of control powers with company, and pass the market mechanism to come for right price of the objective firms ; pass growing the organization investor, creative financing tool and optimizing the assistant financial system, establishing the valid withdrawing way of financing etc to resolve the financing problem
在此基礎上，論文從收購背景、政策環境、目標企業、定價方法、融資體制等五個方面對中外mbo做了全面系統的對比分析，找出了兩者的差異及原因，並結合我國特有的經濟環境和經濟軌跡，提出了相應的對策措施。這些對策主要包括：從健全法律法規、加強信息披露、培育中介機構等方面來完善我國mbo的政策環境；在國有資產決定退出的領域內對mbo的目標企業進行界定；以凈資產值為基礎，綜合考慮管理層貢獻和公司控制權兩個因素，通過市場機制來為目標公司正確定價；通過培育機構投資者、創新融資工具和優化配套金融制度、建立有效的融資的撤出渠道等來解決融資問題。 -
Third, division management, undefined duty, the duty of state - owned asset " s investor consists of many sectors, this lead asset management to apart from labor management, work management hard to set up of property rights duty go back mechanism, the state - owned asset investment " s program complication, and affect the enterprise operational efficiency seriously
三是分割管理，職責不明。國有資產出資人職責由多個部門分擔，使得管資產和管人、管事相脫節，使得產權責任追溯機制難以建立，也使得國有資產投資等有關決策程序繁瑣，嚴重影響了企業經營效率。 -
If the machinery and equipment contributed by a foreign investor as investment shall require import licenses under chinese regulations, the wholly foreign - owned enterprise shall directly apply or entrust an agency to apply with the license issuing authority for the import licenses on the strength of the list of equipment and material approved for importation by the enterprise
外國投資者作為出資的機器設備，依照中國規定需要領取進口許可證的，外資企業任批準的該企業進口設備和物資清單直接或者委託代理機構向發證機關申領進口許可證。 -
The third, it is a viable way to change state - owned stock to preferred stock that can convert and accumulate. the fourth, company management construction of medium and small company in scale is studied in ownership system mode and employee ' s function and bank ' s function and function of private ownership investor, and draw some conclusions
第三，由於在我國國有企業中國有資產佔有非常大的比例，既要使國有資產保值增值，又要盤活國有資產，增加國有企業的活力，經過研究，認為將國有股轉變為可轉換累積優先股方式是一種切實可行的辦法。 -
On the financial management by the state investor over state - owned enterprises
河南省重點國有企業財務管理狀況透析 -
The two supply companies are investor - owned. the government monitors their performance through mutually agreed scheme of control agreements
政府透過雙方同意的管制計劃協議，監管這兩家公司的表現。 -
According to our country present situation of listed company governance, i propose that securities market introduces the institutional investor actively, the institutional investor make up the space of reduction of state - owned stocks, and thus it can optimize equity structure of the listed company. i advance institutional investors - oriented mode. it promotes the development of shareholding system economy further
根據我國上市公司治理的現狀， 「一股獨大」下的「內部人控制」問題，提出積極引入機構投資者，彌補國有股減持退出的空間，從而優化上市公司的股權結構；並提出機構投資者主導模式的設想，將進一步推動股份制經濟的發展。 -
Besides, there are great deals of other questions, which cause various kinds of mechanism of corporate governance unable to play a effective role. at the same time, the article make a deeply analysis to the reasons. finally, the article put forward some advises : reducing the state - owned stock progressively, foster the institutional investor actively, design some encouragement and restriction mechanism to a manager, reform and perfect the state assets management system, perfect regulation system and withdraw mechanism of security market and unifying the stock market progressively, set up powerful security payment mechanism of debts, strengthen restriction of creditor ' s rights of the banks, develop corporate bond financing, and so on
本文以資本結構的基本理論為起點，對各種資本結構理論觀點進行概括，並從股權和債權兩方面分析了資本結構對公司治理的作用和影響效果；通過對國有上市公司的資本結構進行實證分析，揭示了我國國有上市公司的資本結構存在股權和債權結構不合理，股權內部構成和債權內部構成不合理等諸多問題，由此導致了公司治理各種機制的有效作用無法正常發揮，使得公司治理的效應不佳，並進一步對產生這種股權和債權治理效率低下的成因進行了深層次的分析；最後從宏觀和微觀層次，提出對國有股進行有步驟的減持並逐步實現其流通、改革與完善國有資產管理體制、積極培育機構投資者、完善證券市場的法規體系和逐步統一股票市場、建立強有力的償債保障機制、設計經理人激勵約束機制、強化銀行的債權約束、發展企業債券融資等政策建議。 -
A state authorized investment entity or state authorized department may establish wholly state - owned limited liability companies as the sole investor
國家授權投資的機構或者國家授權的部門可以單獨投資設立國有獨資的有限責任公司。 -
Thirdly, as the only investor of the solo - owned corporations of state, the agency or department authorized by government could manage and supervise state - owned property to keep and increase its value, according to the managing and supervising regulations of state - owned property enacted by state council
國家授權投資的機構或者國家授權的部門作為公司唯一的出資者，可依照國務院的《國有財產監督管理條例》對公司的國有資產的保值增殖情況實施監督管理。 -
We discuss and compare the mechanisms of the corporate governance, and we argue that ownership structure is a consequence of investor ' s self - protection. in the chinese stock market, there is a common phenomenon that almost 70 % shares can not be transferred. they are state - owned shares
公司治理結構的形成，受到所在國家和地區的法律體系、社會文化、融資制度以及股權結構等多種因素的影響，而股權結構的集中與分散甚至可以看成是由於不同的治理環境下投資者自我保護的結果。 -
An investor shall submit the guarantee letters for performance of the contract on the transfer of state - owned land use right, the license for the planning of construction land and the license for the planning of construction projects and the use certificate of state - owned land, certification on the alteration of archival files in the administrative department of construction ( real estate ) as well as the relevant certification materials of tax return as produced by the taxation authority
投資者應提交履行（ 《國有土地使用權出讓合同》 、 《建設用地規劃許可證》 、 《建設工程規劃許可證》等的保證函， 《國有土地使用證》 ，建設（房地產）主管部門的變更備案證明，以及稅務機關出具的相關納稅證明材料。 -
Where the chinese investor in a sino - foreign equity or cooperative joint venture intends to change its equity interest and subsequently the enterprise is proposed to become a wholly foreign - owned enterprise which engages in the industry where wholly foreign - owned enterprises are restricted under article 5 of the wfo rules, such changes of the equity interest of the chinese investors shall be subject to approval by the ministry of foreign trade and economic cooperation " moftec ".
規定還分別就上述情況作出規定。 「如果中外合資合作企業中方投資者的股權變更而使企業變成外資企業，且該企業從事外資細則第5條所規定的限制設立外資企業的行業，則該企業中方投資者的股權變更必須經中華人民共和國對外貿易經濟合作部以下簡稱外經貿部批準。 」 -
The article, according to the three forms : the company, the partnership, the sole - investor enterprise, restructure the legal formation of the foreign - funded enterprises, and re - design the present provisions of the foreign - funded limited liability company, the foreign - funded partnership enterprise, the foreign - funded enterprise and the exclusively foreign - owned enterprise
文章按公司、合夥、獨資企業三種形式對外商投資企業的法律形態予以重構，並針對外商投資有限責任公司、外商投資俐火企業、外商投資企業和外商獨資公司的現有法律規定進行了重新設計。 -
However domestic unmature security marbet restrict amc ' s free shares transfer. my opinion is to improve and regulate by law in the course of d - to e. firstly, it is necessary to grasp d to e principle accuratly and construct strict qualification system, secondly, it is important to guarantee amc to enterprise system can keep amc ' s as shareholder control of d to e enterprise, and improve continuously amc ' s management level and efficiency. it is necessary to make special regulation about the duration periods and vavle of amc ' s egutity in legislation to sustain amc benefit, moreover, 13 to e also coordinate with state - owned ' s out - strategy and adjust ownership through social and. private cash input, these also help solve the problem of uvclear state - owned ownership entity ; at the same time, it is necessary to improve security market to widen the ways of share transfer, to be outward transfer as main transfer way, to cultivate institutional investor and reform equity system ; at last it is important to difine correctly bovernment ' s role and play its role. government should be in the nationwide view to organize, coordinate balance support regulate to guarantee d to e ' s performance
筆者認為，債轉股實施過程中，應依照法律規范予以完善和制約，首先應準確把握其操作原則，特別注意嚴格把好債轉股的準入關;其次，切實發揮金融資產管理公司的職能作用，促使企業轉換經營機制建立現代企業制度，要確保金融資產管理公司作為股東對債轉股企業的最終控制權，不斷提高金融資產管理公司的運作水平和效率，並且在立法上對債轉股中的股權的存續和價值的保護進行特別規定，以維護金融資產管理公司的合法權益;再者，債轉股還要與國有經濟的戰略性退出相結合，進行必要的產權結構調整，通過引入社會資金、民營資本等其他成分徹底解決國企產權主體虛位和產權不明晰的現象;同時，要完善資本市場，積極拓寬股權的退出通道，把對外轉讓作為股權的主要退士方式，培育機構投資者，改革股權制度;最 -
When a foreign investor merges a domestic enterprise, and thus resulting in the modification of the share rights formed from investment of state - owned assets or transference of the property of state - owned assets, valuation shall be made in accordance with the relevant provisions on the administration of state - owned assets for determination of the transaction price
外國投資者並購境內企業，導致以國有資產投資形成的股權變更或國有資產產權轉移時，應根據國有資產管理的有關規定進行評估，確定交易價格。 -
The mortgage - backed system is the basic system arrangement that applied in the real estate field to avoid credit risk. mbs is a special form of real estate securitization, it is based on mortgage - backed of real estate and the initial credit side take their owned real estate or through special medium organization, by the assurance of certain credit organization, issue certain valued stocks, to be purchased by investor
房地產抵押貸款證券化是房地產證券化的一種特殊形式，它是在房地產抵押貸款的基礎上，抵押權人（初始貸款人）將已擁有的房地產抵押品（抵押權）或中介機構從初始貸款人那裡購買抵押貸款（抵押權） ，通過特信機構的擔保，發行相應額值的有價證券，供投資者購買的過程。 -
Outstanding stock includes any shares that a company has issued but has not repurchased - that is, stock that is investor owned
流通股包括任何已經發行但公司還沒有回購的股份，股票為投資人擁有。 -
Acquiring a listed company by agreement can be defined as follows : in order to get the control of a listed company, an investor tries to buy enough shares of the target company by private agreement from outside of the stock exchanges. the present share structure of the listed companies in china is quite different from other countries as in which the state - owned shares are no doubt in the controlling position, which contributes to the fact of acquisition by agreement being the mainly acquisition form in china today
上市公司協議收購是指投資者為了取得對于某上市公司的控制權，而在證券集中交易場所以外通過私下協議的方式受讓該上市公司股份的行為。當前我國上市公司股權結構中國有股（包括國家股和國有法人股）處于控股地位，這使得協議收購成為我國目前上市公司收購的主要形式。 -
Based on the foregoing laws, regulations and policies, " the regulations " summarizes the test as follows : " where an enterprise engages in an industry where wholly foreign - owned enterprises are not permitted under the guiding list of industries for foreign investment, changes of equity interest in such enterprises shall not result in sole ownership of its equity interest by foreign investor
「依照外商投資產業指導目錄，不允許外商獨資經營的產業，股權變更不得導致外國投資者持有企業的全部股權因股權變更而使企業變成外資企業的，還必須符合中華人民共和國外資企業法實施細則以下簡稱外資細則所規定的設立外資企業的條件。
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