查询词典 capital fund

The main reason why American mutual fund is so advanced is that there is the concerted mechanism environment for mutual fund, such as the mature financial market, sufficient investment capital supply, well-developed system of laws and so on. Adopting the specific exponents of Shanghai and Shenzhen Security Market, fund exponent yields, all weekly yields of mutual fund in specific periods, etc., the positive analysis of the coordination of Chinese mutual fund and Security Market demonstrates that this coordination is not ideal generally. On condition that the market characteristic of mutual fund is made clear, mutual fund can develop conceitedly and healthily by developing security market, increasing market efficiency, providing more fund, improving fund management, standardizing relative system of privately offered funds and so on, and optimizing the market environment to develop mutual fund.

美国开放式基金之所以发达，主要原因在于开放式基金具有协调发展的制度环境，如成熟的金融市场、充足的投资资金供给、完善的法律体系等；采用沪、深证券市场特定指数与基金指数收益率，及特定时期内所有开放式基金的周收益率等指标，对我国开放式基金与证券市场的协调性的实证分析发现，二者协调性程度总体上不理想；在明确开放式基金发展的市场过程性质的前提下，通过促进证券市场的成熟、提高市场效率、完善法律、拓宽基金资金供应渠道、完善基金治理结构、规范私募基金发展等配套措施，优化开放式基金发展的市场环境，才能不断促进开放式基金的协调、健康发展。

The research discovered:(1) specialist human capital, cooperation social capital and mechanical organization capital support exploitation innovation, generalist human capital, entrepreneurial social capital and organic organization capital support exploration innovation;(2) two kind of intelligence capital structure, specialist human capital cooperative social capital, organic organizational capital and generalist human capital, entrepreneurial social capital, mechanistic organizational capital support contextual ambidexterity.

研究发现：(1)专才型人力资本。合作型社会资本和机械式组织资本支持利用式创新，通才型人力资本、创业型社会资本和有机式组织资本支持探索式创新；(2)两类智力资本结构，专才型人力资本、合作型社会资本、有机式组织资本，以及通才型人力资本、创业型社会资本、机械式组织资本都支持情境二元式创新。

In the process of determining the quantization model of enterprise residual income allocation for human capital, this paper: first, takes the value devoted by human capital as the base point, determines the total amount of enterprise residual income allocation and introduces the economic value added index into this study; secondly, starting with the external factors (i.e. the value devoted by human capital and the negotiating power of human capital and material capital in the enterprise) that influence the proportion of human capital in enterprise residual income allocation, evaluates the negotiating power of human capital and material capital in the enterprise by using fuzzy synthetical evaluation method and puts forward the quantization method and application model for allocating the enterprise residual income between the owners of human capital and material capital; at last, determines the prorate of value devoted by individual human capital on the basis of their respective positions and calculates the amounts for individual human capital to allocate the enterprise residual income in combination with the performance examination for each department and individual human capital in the enterprise.

论文在确定人力资本参与企业剩余分配量化模型的过程中，首先以人力资本贡献价值为基点，明确企业剩余分配总量，引入经济增加值EVA指标；其次从影响人力资本参与企业剩余分配比例的外部因素—人力资本贡献价值和人力资本与物质资本在企业内的谈判力入手，用模糊综合评价法对人力资本和物质资本在企业内的谈判力进行评价，结合对人力资本的业绩考核，提出了企业剩余收益在人力资本所有者与物质资本所有者之间分配的量化方法和应用模型；最后用层次分析法确定个体人力资本的岗位贡献价值的权重，结合企业内对部门和个体人力资本的业绩考评，计算企业内每个个体人力资本分配企业剩余的数额。

For fund companies and their employees in investment funds, Fund for the Department of the SFC in June last year issued a "Circular on fund investment in securities investment funds of employees of matters relating to notice", which provides that "the fund management companies should be in the fund contract commencement notice traded funds notice book and related semi-annual report and annual report disclosure of fund employees of the Company held by the Fund's total share and accounted for the only the proportion of the overall share of the Fund."

对基金公司和投资基金，为证监会基金部于去年6月发表了他们的雇员在证券投资基金的通知"的有关通知"的问题员工，投资基金的规定"基金管理公司应当在基金合同生效公告书买卖基金的通知和相关的半年度报告和基金的总份额的基金持有本公司员工年度报告披露和唯一的总份额中所占比重该基金的。"

This paper breaks the traditional capital structure system and immit the concept of managing element capital at the basis of summary which explains the traditional capital structure and the corporate governance. This paper brings this concept into the capital structural theory system, proposed that the capital structure not only includes the financial capital such as the ownership capital and the debt capital, but also includes the managing element capital, So the theory system of capital structure can be perfected.

首先，本文在对传统资本结构与公司治理的相关理论进行综述的基础上，打破传统资本结构体系，引入管理要素资本的概念，并将其纳入资本结构理论体系中，提出了资本结构不仅包括股权资本、债务资本等财务资本，而且包括管理要素资本，完善了资本结构理论体系。

Accordingly, this paper evaluates intellectual capital from two periods. The first period is to evaluate value creation potential of intellectual capital; the aim is to see the dynamic change of intellectual capital quantity. The paper sums up static state quantity, combination efficiency and structural extent these three factors which influent on intellectual capital creation potential. Paper uses FA in the evaluation; the second period is to evaluate intellectual capital value using ability. The aim is to expose the using efficiency of intellectual capital. The research of this period is studied from internal enterprises and external ones. Internal factors come from enterprises bestir intellectual capital, external factors come from competition extent. On the base of theory analysis, the relationships which intellectual capital bestirs mode and competition extent do to intellectual capital value contribution come out. This period uses AHP to evaluate intellectual capital.

与之相对应，本文从两个阶段对智力资本进行评估：第一阶段是智力资本价值创造潜力的评估，目的是衡量智力资本存量的动态变化，本文从智力资本存量积累的特点入手提炼出静态存量、投资效率、组合效率和结构化程度四个影响智力资本价值创造潜力的决定因素，并将因子分析法引入了具体的评估过程；第二阶段是智力资本价值提取能力的评估，以揭示企业对智力资本的使用效率，本文的研究从企业内部和外部两个方面展开，内部因素归结为企业对智力资本的激励，外部因素则归结为竞争强度，在理论分析的基础上，得到了智力资本激励方式和竞争强度对智力资本价值贡献的作用关系，运用层次分析法对之进行评估。

This paper analyses the homogenous tendency of open-end fund at first,pointing out that unperfect development of market and investors' immature investment opinions is the origin of such phenomena. Secondly,having compared the fund sizes and purchase fee rates of 25 open-end funds in China,conclude that there are problems of diseconomy of scale and indistinctive relativity between fees and achievement in Chinese open-end funds. Then this paper introduces benefit and cost function to analyze the problem of lack of motivation and constrain mechanism towards fund managers because of unreasonable fees in China. Thirdly,this paper analyze funds managers' normal hazards by static game model,and then points out fund managers have serious tunneling behaviors in Chinese open-end fund industry. In the end,this paper analyzes the causes of liquidity risk of open-end fun and the particularity of liquidity risk of open-end fund in China,and concludes that liquidity risk in Chinese open-end fund industry is higher through calculating the rates of share change and comparing the portfolio selections of top 20 open-end funds in China.

本文首先分析了我国目前存在的基金产品同质化现象，指出市场发展的不完善以及投资者投资理念的不成熟是同质化的根源所在；其次对比了我国现有的25只开放式基金的规模和申购费率，得出了我国开放式基金存在着规模效应不明显以及基金业绩与费率相关性不强的问题，并引入效益函数和成本函数分析了由于我国开放式基金费率不合理引发的基金管理者激励约束机制缺失的问题；再次，应用静态博弈模型分析了基金管理人面临的道德风险，指出目前我国开放式基金由于监管机制脆弱而存在着较为严重的管理者利益输送行为；最后，分析了开放式基金流动性风险的形成原因以及我国基金市场流动性风险的特殊性，并通过计算目前我国基金资产规模前20位的开放式基金的份额变动率以及比较它们的投资组合结构，得出了目前我国开放式基金流动性风险偏大的结论。

Reporters, according to preliminary statistics, is being issued in the new fund has 11, including the stock-Days Hong Yong set the value of growth funds, fund Xiang Yi Fang Dakota; configuration, including Golden Eagle-dividend value of the fund in the sea Blue-chip flexible allocation of funds, fund selection strategy Fu; bond type, including 10,000 in Paris Tim Shen Po-yi bonds A + B, Yinhua Fund to enhance revenue bonds, bond fund returns Oriental sound, stable and increased profits by HSBC Jin Xin Bond Fund, the Bank of farmers Agricole, and always will benefit by bond funds, the silver-AXA to optimize revenue bond funds.

记者，据初步统计，正在发行的新基金有11个，其中包括股票天闳壅设置的价值成长型基金，基金Xiang易伐嗯达科他州，配置，包括金鹰股息基金的价值在海蓝筹灵活分配资金，基金选择策略富；债券类型，包括万巴黎添申坡义债券甲+乙，银华基金，以提高收入债券，债券型基金回报率东方的声音，由汇丰靳稀嗯债券基金，农民银行法国农业，稳定和增加利润都将受益于债券基金，银安盛优化收益债券基金。

Article 88 Where a fund manager or a fund custodian, in violation of the provisions of this Law, fails to place the assets of a fund under separate management or custody in separate accounts or misappropriates the fund assets, it shall be instructed to rectify and shall be fined not less than 50,000 yuan but not more than 500,000 yuan Where losses are caused to the fund assets or to the holders of fund units, it shall, in accordance with law, bear the responsibility to pay compensation The persons who are directly in charge and other persons who are directly responsible shall be given a discipline warning, or be suspended or disqualified from engaging in the fund business and, in addition, be fined not less than 30,000 yuan but not more than 300,000 yuan If the violation constitutes a crime, it shall be investigated for criminal responsibility in accordance with law

第八十八条基金管理人、基金托管人违反本法规定，未对基金财产实行分别管理或者分账保管，或者将基金财产挪作他用的，责令改正，处五万元以上五十万元以下罚款；给基金财产或者基金份额持有人造成损害的，依法承担赔偿责任；对直接负责的主管人员和其他直接责任人员给予警告，暂停或者取消基金从业资格，并处三万元以上三十万元以下罚款；构成犯罪的，依法追究刑事责任

The conception of intellectual capital reflects the change of the resource of enterprises" value. How to increase value by intellectual capital management is the problem in front of all of the enterprises. However, intellectual capital evaluation, which is the first stage of intellectual capital management, has to be connected with enterprise value. Intellectual capital evaluation isn"t ought to only tell the contribution the intellectual capital creates on enterprise value at some moment, but also help high managers know the relationship between intellectual capital and enterprise value. Enterprises should know which intellectual capital is more related with enterprise value, which is the most worthy to investing and paying attention to. Enterprises should pre-estimate the dynamic change which intellectual capital contributes to enterprises value.

智力资本概念的提出实质反映的正是知识经济时代企业价值来源的变化，如何通过有效管理智力资本增加自身价值是摆在所有企业面前的紧迫问题，而作为智力资本管理首要环节的智力资本评估自然也不能脱离企业价值，有效的智力资本评估不仅应能识别出特定时点上企业拥有的智力资本对企业价值做出的贡献，更重要的是帮助企业高层管理人员更好地理解智力资本和企业总体价值之间的关系，弄清楚哪些智力资本与企业价值联系最紧密，哪些智力资本最值得重点投资和关注，预先判断智力资本对企业价值贡献的动态变化。

Alternatively, the con- trollers can use the synchronous rectifier itself or loss- less inductor current-sensing methods to provide overload protection with lower power dissipation.

另外，康威特罗勒斯可以使用同步整流器本身或亏损减少电感电流检测方法，以提供低功耗过载保护。

Mr. Dauber's other Schatz hangs in his home movie studio.

多伯把沙兹的另一件作品挂在家里的电影室。