The result states that corporate stock acquisition is more marketing than national stock acquisition. In the acquisitions, the different view between consignee and alienator makes the difference on valuation base. Commodity price theory tells us that alienators sell commodity for the value, while consignee buy commodity for the using value.

從國(guó)有股和法人股的分組情況來(lái)看在线播放免费黄色网站，國(guó)有股收購(gòu)價(jià)格同每股凈資產(chǎn)的相關(guān)性更為明顯黄色视频制服网站，而法人股同收益指標(biāo)的相關(guān)性較為明顯一级黄片免费看视频，證明法人股收購(gòu)的市場(chǎng)化程度高于國(guó)有股收購(gòu)99国产性爱。

After the actual data analysis, this article discovered that, the circulation stock and the law annual bonus account for the total capital stock proportion elevating, is advantageous to the promotion enterprise's management achievements, has confirmed this article the supposition which starts in the article to propose; But the national stock institute accounts for the enterprise total capital stock the proportion and the enterprise manages in the achievements overall to assume the negative influence, moreover because the state-owned stock generally accounts for the maximum proportion, therefore, the stockholder's rights centralizations manage the achievements in the this time also basic performance for the state-owned stock to the enterprise the influence, basically has also confirmed myself the supposition which proposed to the national stock.

經(jīng)過(guò)實(shí)際數(shù)據(jù)的分析6080午夜影院三级片，本文發(fā)現(xiàn)，流通股和法人股所占總股本比例的升高福利小视频网站，有利于提升企業(yè)的經(jīng)營(yíng)績(jī)效欧美美女久域视频淫乱，驗(yàn)證了本文在文章開(kāi)始提出的假設(shè)国产综合在线；而國(guó)家股所占企業(yè)總股本的比例與企業(yè)經(jīng)營(yíng)績(jī)效總體上呈負(fù)面影響，而且由于國(guó)有股一般占最大比例色妞色妞，所以能够看黄的网站，股權(quán)集中度在此時(shí)也基本表現(xiàn)為國(guó)有股的對(duì)企業(yè)經(jīng)營(yíng)績(jī)效的影響，基本上也驗(yàn)證了本人對(duì)國(guó)家股提出的假設(shè)国产乱人视频在线观看播放1。

Second, there is direct ratio correlation between the share of large shareholders and investment, and the more share large shareholder hold, the more the largest shareholder can influence the investment decision of listed companies.

2上市公司控股股東的性質(zhì)和控制權(quán)結(jié)構(gòu)對(duì)投資行為產(chǎn)生重要的影響911A片导航，國(guó)有法人股控制上市公司的投資規(guī)模相對(duì)較小，而國(guó)家股和民營(yíng)控制上市公司的投資規(guī)模相對(duì)較大欧美1级。

The loss will be larger in the listed company that has a high degree of shareholder concentration. State share ratio and legal person share ratio have negative relation with company's loss degree. Floating stock and employee share are not an obvious factor in which the company is in loss.

對(duì)虧損上市公司而言淫荡美女被强暴视频免费，股權(quán)集中度有一定的負(fù)面影響，股權(quán)集中度越高虧損程度趨大18以下禁止岁观看网站；國(guó)家股和法人股比例與虧損程度成負(fù)相關(guān)關(guān)系91综合视频在线；流通股和內(nèi)部職工股在企業(yè)虧損時(shí)發(fā)揮作用不明顯。

The legal person share scale and the company performance exist the indistinctive plus relativity, the outstanding share scale and the company performance exist the distinctive negative relativity.

通過(guò)對(duì)股權(quán)結(jié)構(gòu)與公司治理績(jī)效的非線性實(shí)證分析九七超碰人人操，得出法人股比例久久这里精品视频免费3、流通股比例與公司治理績(jī)效呈U型相關(guān)關(guān)系的結(jié)論。

In empirical study section, totally 40 agricultural listed companies were chosen as samples and 2002,2003,2004 as timeline studied and five variables of ownership concentration and three variables of ownership structure and two variables of controlling were defined. With the method of principal components the comprehensive variable of corporate performance was defined.

在實(shí)證分析部分久久e6精品视频，筆者以農(nóng)林牧副漁類共40家上市公司為總樣本自慰网站污污，以2002年至2004年三個(gè)年度為考察期間，確定了股權(quán)集中度的五個(gè)指標(biāo)(第一大股東持股比例18网站在线免费、前五大股東持股比例的平方和性欧美久久、前五大股東持股比例之和、第一大股東和第二至第五大股東持股比例之和的差以及第一大股東與第二大股東持股比例的比值)人人射人人摸人人草人人操人人射，股權(quán)構(gòu)成的三個(gè)指標(biāo)(國(guó)有股比例东京热黄色网站、法人股比例和流通A股比例)，兩個(gè)控制變量91狠狠综合久久久久精品网站，采用主成分分析法確定了經(jīng)營(yíng)績(jī)效的衡量指標(biāo)天天插天天拍一拍，采用實(shí)證分析和規(guī)范分析相結(jié)合的方法，運(yùn)用Eviews和SPSS統(tǒng)計(jì)軟件欧美日韩中文字幕99久，分析了我國(guó)農(nóng)業(yè)上市公司的股權(quán)結(jié)構(gòu)和經(jīng)營(yíng)績(jī)效的關(guān)系男人扒开女人的腿桶到爽视频。

Finally, a twophase model of residual claim assignment is set up. The ShapleyShubik method and the serial pricing are used in the two phases respectively. This method is proved to be justice and efficient. residual claim ; axiomatic distribution theory ; two_phase assignment ; Shapley_Shubik method ; serial pricing

但股份有限公司作為占主導(dǎo)地位的公司形式，在其所有權(quán)結(jié)構(gòu)中国产一级婬片a免费播放口，剩余索取權(quán)與剩余控制權(quán)卻并不對(duì)應(yīng)：1公司的大股東(在我國(guó)主要是國(guó)家股黑人操屄、法人股)掌握有企業(yè)的最終控制權(quán)，同時(shí)承擔(dān)了較大的風(fēng)險(xiǎn)韩国日本欧美三级一级爱国产，研究表明欧美成年人电影，股份的集中

So the urgent question before securities market is to research how the state owned stock of the list companies select the right way to quit or transfer.

我國(guó)的證券市場(chǎng)從一開(kāi)始就建立在國(guó)有股和法人股不能流通的基礎(chǔ)之上，并在此基礎(chǔ)上形成了現(xiàn)有證券市場(chǎng)的均衡。

Meanwhile,it also affects the development and integrity of our stock market,which in turn...

因此欧美妇人性交A片，解決好國(guó)家股爱操AV、法人股的流通問(wèn)題，這將是我國(guó)發(fā)展經(jīng)濟(jì)過(guò)程中一個(gè)重要的課題欧美性爱一级在线观看。

Compared with western countries, such kind of shares in China are unexchangeable, including state-owned shares and legal person-owned shares, and Chinese stock market is not very mature. That will probably make difference between our conclusions and theirs.

由于中國(guó)上市公司的股權(quán)結(jié)構(gòu)的特殊性黄片欧美日韩一片二片三片，股權(quán)轉(zhuǎn)讓的標(biāo)的基本都是不可流通的國(guó)有股和法人股，加之股票市場(chǎng)還不成熟欧美性高潮xxxx，可能使得中國(guó)股權(quán)轉(zhuǎn)讓的股價(jià)行為與西方的實(shí)證結(jié)論不完全一致国产一级性生活免费视频，而帶有一些中國(guó)特色。

Labor Arbitrage：勞動(dòng)套利 LBO 杠桿買斷交易;借貸融資收購(gòu)

Labor Arbitrage 勞動(dòng)套利 LBO 杠桿買斷交易;借貸融資收購(gòu) | Lead manager 主承銷;牽頭經(jīng)辦人 | Legal persons shares 法人股

contango day：交易延期費(fèi)

common stock普通股 | contango day交易延期費(fèi) | corporation stock法人股

Dada Share：數(shù)據(jù)接口

法人股:corporate-owned share | 數(shù)據(jù)接口:Dada Share | 資本股份:capital share

Exchangeable bond：可交換債券

2.可考慮通過(guò)發(fā)行可交換債券(Exchangeable Bond)的辦法, 促進(jìn)國(guó)有股啦啦啦www观看在线下载、法人股的上市流通. 可交換債券是一種復(fù)合型衍生證券,兼有債券與期權(quán)的雙重特點(diǎn),與債券的基本區(qū)別是其持有人可在既定期限內(nèi),按既定的比例和價(jià)格把它交換成發(fā)行者所持有的某種既定的股票.

institutional shares：法人股

法定準(zhǔn)備金 required reserves;reserve requirement | 法人股 institutional shares | 法人股東 institutional shareholders

institutional shares：法人股東

required reserves; reserve requirement法人股 | institutional shares法人股東 | institutional shareholders法治

institutional shareholders：法人股東

法人股 institutional shares | 法人股東 institutional shareholders | 法治 rule of law

legal person：法人人格

社會(huì)法人:Social legal person | 法人人格:Legal person | 法人股:legal person shares

State shares：國(guó)家股

國(guó)家股(State Shares) 國(guó)家股定義 根據(jù)投資主體的不同,股權(quán)設(shè)置有四種形式:國(guó)家股、法人股激情aⅴ、個(gè)人股超碰123、外資股. 國(guó)家股為:有權(quán)代表國(guó)家投資的部門或機(jī)構(gòu)以國(guó)有資產(chǎn)向公司投資形成的股份(含現(xiàn)有資產(chǎn)折成的國(guó)有股份).

corporate shares：法人股

發(fā)展是硬道理 Development is of overriding importance. | 法人股 corporate shares | 法治國(guó)家 a country under the rule of law