查询词典 at its best

The sloth pays such little attention to its personal hygiene that green algae grow on its coarse hair and communities of a parasitic moth live in the depths of its coat producing caterpillars which graze on its smudgy hair.

树獭不讲究卫生，以至于它粗糙的毛发上生出绿苔，成群的寄生蛾生长在它的皮毛深处，变成毛毛虫，并以它的脏毛为食。

Therefore, it can be regarded as a great improvement of the investment decision-making theory and methods .This article makes a systematic research on real options theory and method and its application, including the following several main aspects:Firstly, it makes a detailed discussion about the common theoretical basis of financial options and real options, including no-arbitrage equilibrium principle, risk-neutral definition, complete market and dynamic tracking.Secondly, it analyze three basic characteristic of investment decision-making in modern market economic system: irreversibility, uncertainty and flexibility, and from the angle of their mutual quantitative and qualitative interactions, it makes a comparison between the traditional NPV methods and real options methods and makes a summary of the general analytical methods of real options.Thirdly, it discusses the all elements in the application of real options such as the ^leakages in value of real assets, basis risk, and private risk, and furthermore, it attempts to put forth a normalized strategy of its application and construct a basic framework of its application.Fourthly, it applies real options theory to strategetic investment of enterprises and the buy-out of company, putting forth a value model for strategetic investment program and making a concrete analysis of its application to buy-out. Furthermore, it advocates that a flexible investment decision-making system should be setup according to real options theory in our country.

本文对实物期权理论和方法及其应用进行了系统研究，主要内容包括如下几个方面：(1)详细讨论了金融期权和实物期权共同的理论基础，主要包括无套利均衡原理、风险中性定义、完全市场以及动态复制方法，对这些理论方法的探讨既是本文的出发点和基础，它们提供了研究实际应用实物期权的一个基准点，也是贯穿全文的线索和灵魂；(2)分析了现代市场经济体系中投资决策的三个基本特征即不可逆性、不确定性和时机选择，并从它们数量上和质量上相互作用的重要意义的角度，分析了传统的净现值法与实物期权方法的差异，指出了净现值法在不确定环境中存在的缺陷及实物期权处理投资灵活性的价值，并将净现值法纳入实物期权投资分析决策体系当中，总结了企业投资决策实物期权的一般分析方法；(3)探讨了实物期权应用中要考虑的各种要素，如实物资产的价值漏损、基差风险和非市场风险等，并进一步提出了实物期权应用的规范化策略和构建了一个实际应用实物期权方法的基本框架，尝试将期权的基本原理与企业在现实经济环境中投资决策的要素结合起来，从而可以在一定程度上超越期权的复杂的数学计算而汲取期权思想的精华，从而促进期权决策方法在实际投资决策中的应用；(4)将实物期权方法应用于企业战略投资，得出了战略投资项目的价值模型，指出可以将实物期权理论和方法应用于企业并购，分析了应用的具体方面，并提出应根据实物期权理论建立一套适合我国企业的灵活的投资决策系统。

According to Heini Nuutinen, an aviation analyst, a series of attempts to restructure JAL have failed to solve its underlying problems: high labour costs, a less efficient fleet than its competitors including All Nippon Airways (ANA, its more nimble Japanese rival, a reluctance to drop its many unprofitable routes, multiple unions, a suffocatingly bureaucratic culture and low morale.

航空业分析家埃尼-努蒂宁认为，试图重组日航的一系列举动并没有真正解决日航的一些基本问题：高劳动力成本，较其竞争者（包括在日本航空业中高效率的全日航空公司）而言低效率的团队，不能果决的放弃那些不能盈利的航线，复杂的工会组织，压抑的官僚主义文化和低士气。

The eco- economic ethic sees its particular nature in its criticism of, its succession to, and its surpassingness of the conventional economic ethical thoughts of mankind .

生态经济伦理的特殊本质是通过生态经济伦理批判、继承和超越人类传统经济伦理思想的逻辑过程来体现的；生态经济伦理的独特特征主要是通过生态经济伦理意识、生态经济伦理关系和生态经济伦理实践的特殊内容来反映的。

The continuous development of science and technology, especially the rapid development of information industry, is forcing enterprise to weight its competitive to make a customer value strategy suitable to different customer categories and set up a self-proposing system by conforming with and adjusting to its resources within and without and exploiting its specific techniques, assets and reputation to provide customers with unique values which are unimitable to its competitive adversaries reach.

面对科学技术发展的日新月异以及信息产业的高速发展，企业必须依从不同的顾客细分和企业自身的核心能力，选择适宜的顾客价值定位，并以此为核心构建支撑体系，整合、协调内外部资源，发展企业专有技能、资产和信誉，向顾客提供独特的、竞争对手难以模仿的价值，从而获取持久的竞争优势。

With its effortless refined turbo diesel engine matched with a dynamic chassis plus a good 6 speed transmission, the S80 brought out superior on road motoring behaviour. It whiskered corners and bends competently, a keen driver will not be disappointed with its ability in excellent body control and mid-corner adjust ability. Not to mention with its excellent fuel economy on highway cruising. The wind and engine sound were minimal, and you can just concentrate on listening to its on board premium sound system.

S80是Volvo车厂精心的为过去，现在及未来的顾客研制的大师级作品，它与福特及越野路华共用一个汽车底盘，而经由Volvo厂方自己再调校，使它比越野车Freelander的底盘更强5个百分比，这个Dynamic Chassis底盘可以不断的监察汽车的反应，以抑制器快速的回应汽车的驾驶情况，并抗衡汽车在强大的加速，极端的制动及快速的转向所造成的俯仰，前潜及翻滚等反应，而它亦配上舒适，运动及先进的选择模式，这些科技帮助驾驶者及乘客取得优良的驾车及乘车经验。

I personally think,according to four principles,i.e.same theory,same research method,same policy and same benefitseeking,it should be divided into the school of formalism with Herskovitsand Schneider as its representatives,substantavism with Polanyi and Daltonas its representatives,neo-maxism with Hart and Wolf as its representativeand school of generalization with Wilk as its representative.

美国经济人类学在西方社会科学中是一门相当年轻亦不太成熟的新学科，但是它被认为是有着光明的发展前景——这得益于它的独特视域（从民族学、经济学等学科中的交叉视角出发观察与分析问题）以及向广义发展的坚定决心。

It is good to want brandish this Shuang Renjian, make its are helpful for the development of Chinese economy, on one hand, the relative demand that should maintain China is insufficient, the posture that makes relative demand insufficient expands Chinese economy lives as far as possible; of much square field surface on the other hand, want to control the rate that is not worth relative to demand, make its maintain inside moderate range, want exert oneself to overcome its negative effect, beware of its worsen badly.

要挥舞好这把双刃剑，使其有利于中国经济的发展，一方面，要保持中国的相对需求不足，并使相对需求不足的态势扩展到中国经济生活尽可能多的方方面面；另一方面，要控制相对需求不足的程度，使其保持在适度的范围内，并要着力克服其负面效应，提防其严重恶化。

Xu Ting is very clear when taking money its are not had overdraw functional bank has more than yuan 170 only on card, the input when he takes a money for the first time takes an instruction 1000 yuan pure belong to innocently, after be being buckled 1 yuan, his much 999 yuan are belonged to civil those who go up is undeserved benefit; But, he knows perfectly well these 999 yuan not only later is not he deserved belongings will still its glom on to, and the identifying that uses an ATM is wrong, occupy promising purpose to be inputted intentionally 170 times continuously again with ill will exceed its the instruction ill will of amount of real bank savings takes a money, its behavior is belonged to trade by the contract the crime that behavior derives, accord with " criminal law " the 224th of the 5th regulation " it is a purpose with detinue, in sign, in fulfilling contract process, with property of the opposing party of other method diddle " of contract crime of fraud make important document.

许霆在取钱时很清楚其不具备透支功能的银行卡上只有170余元，他第一次取款时输入1000元取款指令纯属无意，被扣1元后，他多得的999元属于民事上的不当得利；但是，之后他不仅明知该999元不是自己应得财产仍将其据为己有，而且利用柜员机的识别错误，以恶意占有为目的又连续170次故意输入超出其实际存款数额的指令恶意取款，其行为属于由合同交易行为衍生出的刑事犯罪，符合《刑法》第224条第5项规定的&以非法占有为目的，在签订、履行合同过程中，以其他方法骗取对方当事人财物的&合同诈骗罪的构成要件。

Article 72 If an enterprise, in violation of the provisions of Article 53 of this Law, adulterates coal and sells inferior coal as quality coal, it shall be ordered to stop selling coal, its unlawful proceeds shall be confiscated and it shall be imposed with a fine of not less than one time and not more than five times its unlawful proceeds, and its coal production license may be revoked or it may be disqualified from dealing in coal in accordance with law; if the violation constitutes a crime, the judicial organ shall investigate its criminal responsibility.

第七十二条违反本法第五十三条的规定，在煤炭产品中掺杂、掺假，以次充好的，责令停止销售，没收违法所得，并处违法所得一倍以上五倍以下的罚款，可以依法吊销煤炭生产许可证或者取消煤炭经营资格；构成犯罪的，由司法机关依法追究刑事责任。

Listen,point and check your answers.

听，指出并且检查你的答案。

Warming needle is one of effective treatment methods for knee arthralgia aggravated by cold,and it is simple,safety,so it should be developed in clinical acupuncture and moxibustion extensively.

但以本院科针灸门诊在2005年1月—2006年6月期间共收治膝痛患者100余例，经过临床的诊断后，其中施以温针治疗的48例，疗效显著，报道如下。1临床资料本组病例48