查询词典 Capital

Aiming for the investment system and the principle of capital formation, this article discusses the developing direction of the capital system and the drawback of the system nowadays with reference of national conditions, and believes that it need a process to transform the company capital system and that abasing the capital volume and multiplying the investment form is a irreversible trend.

本文针对出资制度和公司资本形成制度两方面论述资本制度改革的发展方向，以资产信用制度为笔者观点和中心思念，结合我国国情论述现今制度所带来的弊端，以为改变公司资本制度需要一个的过程，降低资本额的尺度和出资多元化发展趋势。

Aiming for the investment system and the principle of capital formation, this article discusses the developing direction of the capital system and the drawback of the system nowadays with reference of national conditions, and believes that it need a process to transform the company capital system and that abasing the capital volume and multiplying the investment form is a irreversible tr

本文针对出资制度和公司资本形成制度两方面论述资本制度改革的方向，以资产信用制度为笔者观点和中心理念，结合我国国情论述现今制度所带来的弊端，认为改变公司资本制度需要一个的过程，降低资本额的尺度和出资多元化发展趋势。

Aiming for the investment system and the principle of capital formation, this article discusses the developing direction of the capital system and the drawback of the system nowadays with reference of national conditions, and believes that it need a process to transform the company capital system and that abasing the capital volume and multiplying the investment form is a irreversible trend.

本文针对出资制度和公司资本形成制度两方面论述资本制度改革发展方向，以资产信用制度为笔者观点和中心理念，结合我国国情论述现今制度所带来弊端，认为改变公司资本制度需要一个过程，降低资本额尺度和出资多元化发展趋势。

A effective financial system is beneficial to risk trading, avoiding, disassembling, and is easy for market individual to get the information about investment and allocating which accelerate social capital mobilization, accumulating and converting to long-term industrial capital from scattered small capital. The valid price system of financial instrument inflecting real economy accurately promote finance capital's flowing and allocating among social sector and region.

有效的金融体系有利于风险交易、风险规辟、风险分解和各交易主体的风险分担，同时市场化的融资机制有助于获得更多有关投资和资源配置的信息，这都大大加快了在经济发展中对社会资本的动员、积累以及有效转化，使分散零星的小额资本转化为大规模的长期产业资本，同时，证券化金融产品具有的灵敏、有效的价格信息，反映了实体经济真实情况，进而引导金融资本在各产业、部门间实现有序流动、合理配置。

The state encourages foreign-invested enterprises, for those that newly added registered capital from subjoined investment has reached or has outreached 60,000,000 US Dollars, or newly added registered capital has reached to or outreached 15,000,000 US Dollars which has exceeded 50% than the original registered capital, the income gained from newly added registered capital may be calculated independently and enjoy the preferential business income tax policy of 2-year tax exemption and 3-year half-collection regularly.

国家鼓励类外商投资企业，追加投资形成的新增注册资本达到或超过6000万美元，或者新增注册资本额达到或超过1500万美元，且超过企业原注册资本的50%的，其新增注册资本所取得的所得，可单独计算，定期享受两年免征、三年减半征收的企业所得税优惠。

Based on the theory of eclectic paradigm of internationalproduction and the analysis of indispensable conditions for investment, this paper indicatesCNOOC's advantages in foreign direct investment. Making use of the method of combiningtheories with physical, combining investment cases of SINOPEC, CNPC and ONGC, upon theanalysis of process and pace relationship in oversea expansion, investment mode, investmentlocation, investment domain, capital source and capital form, it suggests the issues those shouldbe taken into account for investment strategy, including recognizing the relationship betweenreward and development pace, the priority in investment mode selecting, pluralizing of oil sourcesupply, upstream business investment philosophy, all forms of financing channels, and theproportion of non-fund capital in investment capital forms.

最后运用理论与实际相结合的方法，结合中石油、中石化以及印度石油天然气总公司的投资案例，从海外发展的进程与速度、投资方式、投资区位、投资领域、资本来源以及投资出资物等 6 个方面进行分析，提出中海油今后在确定投资战略时应该注重以下几个问题：要重视发展速度与效益的关系；在三种投资方式中，首先考虑通过收购优良资产获得油气储量，其次要与国际大公司合作进行风险勘探，最后要谨慎对待公司并购；选择投资区域时，首先要巩固现有的亚洲资产，其次要重视对其他地区的研究与尝试，实现油源供应的多元化；对海外的投资要长期致力于上游领域；融资方式要多元化；要注重除资金外其他的资本形式在投资出资物中的比重。

First, the source of venture capital is single; second, the scale of venture capital is too small; third, institutions and enterprises of venture capital are not perfect; fourth, there is no benefit-balance mechanism between the institution and enterprises; fifth, the channels of seceding for venture capital are not kind.

通过研究，发现我国风险投资运行中主要存在以下问题：风险资本规模太小，来源单一，风险投资机构不成熟，风险企业不完善，在风险资本提供者、风险投资机构和风险企业之间还没有形成合理的利益平衡机制，风险资本退出渠道不畅。

The article will appear on the market through simultaneous equations model policy of company cash dividend and capital embezzlement union rise consideration, discovery is state-owned accuse the cash dividend level that the company grants is advanced and first-order state-owned legal person accuses paragraph of highest; company, the level that cash dividend extends is in hind two level are top, but capital is accused by the legal person of society of degree lowest; of embezzlement a partner is manual operated to the preference of cash dividend and state-owned law a partner as good as, but its accuse company capital by the degree of embezzlement most serious; is state-owned accuse company, its capital is uprighted by the degree of embezzlement between both.

本文通过联立方程模型将上市公司现金股利政策与资金侵占结合起来考虑，发现国有控股的公司发放的现金股利水平在前一阶段最高；国有法人控股的公司，现金股利发放的水平在后两阶段最高，但资金被侵占的程度最低；社会法人控股股东对现金股利的偏好与国有法人控股股东无异，但其控股的公司资金被侵占的程度最为严重；国有股控股的公司，其资金被侵占的程度介于二者之间。

The contribution of modern human capital theory to economic growth theory is that it offered a satisfactory answer as to the differences of economic growth rate among countries. This theory considers that the investment on human capital and reserve of human capital is necessary to long and steady economic growth of every country because the human capital is not only ordinary production factor, but also can improve other production factors' efficiency, and can produce complementary effect to other production factor. And it can make the consume market bigger by producing themselves and re-producing themselves, thus raise economic growth rate.

现代人力资本理论对经济增长理论的贡献在于，它为认识各国经济增长率的差异提供了一个比较令人满意的解释，认为人力资本投资和积累是一国经济保持长期稳定发展的必要条件，因为人力资本不但具有一般生产要素的作用，而且也具有促使其他生产要素提高效率的功能，同时对其他生产要素具有互补效应，还可以通过自身的生产和再生产促进消费市场的扩大从而促进经济的增长。

Chapter one of this text has recommended the foreign insurance to apply financial economy to the products pricing method of insurance company, but these methods have not explained how to determine the fair premium of the multiple-line insurance company .In order to solve many business line insurance company pricing problem, chapter two introduce an very important model in insurance company capital allocation field - MR capital allocation model, through deriving capital allocation formula and simulation analysis indicate MR model allocate multiple- line insurance company capital scientifically. In order to apply MR model to non-life insurance pricing, chapter three will extend MR model to introduce loss 3 and layer P . Since the premise of MR model is a certain market price of loss, the chapter four will use the risk-neutral probability transformation technique to get the market value of loss. Under lognormal distribution, we will use location parameter shift and proportional PH transformation to illuminate the technique. The final chapter combines the prior sections result to deduce out the fair premium formula, and apply it to price the catastrophe insurance.

本文的第一章介绍了国外保险业将财务经济学应用到保险公司产品定价的方法，但是这些方法都没有说明如何确定多业务线保险公司的公平保费；为了解决多业务线保险公司定价问题，第二章引入保险公司资本配置领域非常重要的一个模型—MR资本配置模型，通过推导资本配置公式及模拟分析表明MR模型科学地配置了多业务线公司的资本；为了将MR模型应用到非寿险公司的定价中去第三章扩展了MR模型，引入了损失β和层β的概念：由于MR模型的前提条件是有一个确定的损失市场价值，第四章利用风险中性转化方法获得损失的市场价值，在损失为对数正态分布的条件下，通过位置参数转化和比例危险转化方法给出了实例说明；第五章结合前几章的结果给出非寿险公司公平保费的定价公式，并运用它给出了巨灾保险价格的模拟分析。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。