查询词典 capital funds

The first is that intellectual capital is reclassified into the human capital and the structure capital , the structure capital subdivides for the market capital and the innovation capital.

对智力资本进行了重新分类。将智力资本分为人力资本与结构资本，结构资本又细分为市场资本与创新资本。

This paper endogens carbon tax and subsidy two variables, discussing how to decide the optimal level of carbon tax and subsidy. The results of the research are obtained as the following:(1) price and capital subsidy which one is priority depend on the productivity of renewable energy capital, if productivity is high enough, then should adopt capital subsidy policy;(2) price and capital subsidy indeed exist trade-off and non-independent relationship;(3) renewable energy regulation ratio has negative effect on carbon tax, however has positive effect on price subsidy;(4) green certificate price increase will result in decrease carbon tax and price subsidy, but increase capital subsidy;(5) if the authority loose the environmental target, then should impose high carbon tax which maintains the environmental quality, but have ambiguous effect on subsidy policy;(6) increasing stability of renewable energy, then increase price subsidy, however, under budget constraint should decrease capital subsidy;(7) analyzing Taiwan's three wind power energy with different price subsidy, which can improve the technology of wind power energy. In another word, it can raise the capacity of wind power energy and reach the goal of renewable energy.

本文考量政府预算限制下，探讨最适碳税税率与补贴率订定之问题，获得如下发现：(1)发电量补贴与资本补贴对促进再生能源发展效果不一样，决定於再生能源资本的生产力，如果资本生产力足够高，则发电量补贴效果较佳；反之，则应优先采行资本补贴措施；(2)发电量补贴与资本补贴的确存在抵换而非独立关系，亦即在政府预算限制下，为促进再生能源发展，应将种种补贴措施整合考量，以最低行政成本达到再生能源发展目标；(3)再生能源管制配比与碳税税率及资本补贴率呈反向变化关系；而与发电量补贴呈正向关系；(4)绿色权证交易制度具促进再生能源管制目标达到之奖励效果，因此，绿色权证价格提高可降低发电量补贴及碳税税率，降低碳税对经济不利冲击效果；(5)政府如果采行较宽松环境目标，宜提高碳税税率，避免环境品质进一步恶化，然而，对发电量或资本补贴之影响效果不确定；(6)再生能源发电效率愈高，则应提高再生能源发电补贴，在预算限制下，应降低再生能源资本补贴；(7)透过台湾三座风力机组的实证分析，采取差异性发电量补贴，将可诱导较高效率风力机组的投资行为，提高整体风力发电效率，达到再生能源发展之目标。

Finally, combining with the discussion contents above, the paper sums up several main arguments and put forward some proposals: accelerate the product transformation, reduce the deficiency in interest rate, enhance the operation revenues; expand the channels to increase the capital requirement, raise the capital adequacy ratio; continue broadening the investment channels to improve the investment profits that the insurance funds invested in the capital market; encourage the insurance funds to invest in the state keystone construction projects and the foundation construction projects which have long-term and steady return.

最后，本文结合以上讨论内容，总结出本文的几个主要论点，并就主要论点提出建议：加快产品转型，降低利差损，提高保险公司的承保利润；拓宽资本金扩充渠道，增加资本金，提高资本充足率；继续拓宽投资渠道，提高我国保险资金运用于资本市场的绩效；鼓励我国的保险资金投向有长期稳定回报的国家重点建设项目和基础设施建设项目。

The unitized funds are valued based on the market value of the assets of the unitized funds, including any income accrued to the unitized funds, less any mortgages or other liabilities relating to the investments of the unitized funds.

单位基金根据其拥有资产的市值而估值，包括单位基金的应计收益，扣减任何按揭或与单位基金投资有关的负债。

This article analyzes the profit model of insurance companies in detail and validates the relevance between the prescripts which have been constituted by the China Insurance Regulatory Commission in the operation of insurance funds and the investment income of insurance companies through financial statements of the three companies, China Life, Ping An of China and China Pacific, which have been coming into A-stock market. It analyzes the relationship between the insurance company asset allocation and the funds income and risk of insurance companies by simulating the different insurance companies' earnings on different asset allocation and different equity investment yield, so as to arrive at the objective how to configure which prescripts to funds operation of insurance companies is reasonable, demonstrates the rationalities of insurance funds operation prescripts which have been constituted by the China Insurance Regulatory Commission, and considers the equity investment of insurance companies can be properly enhanced to thirty percent of total assets because China's economy will develop stably, chronically and at high-speed .

文中通过借助目前A股上市的中国人寿、中国平安和中国太保三家保险公司的报表详细地分析了保险公司的盈利模式，验证了保监会关于保险资金运用的管理规定与保险公司的投资收益率存在的相关性，并通过模拟在不同资产配置及不同股权投资收益率下保险公司最后的收益情况，用数据分析了保险公司资产配置与保险公司的资金收益和风险的关系，从而得出保险公司的资金运用怎样规定才是合理的，也论证了保监会对保险资金运用的管理规定的合理性，并认为在我国经济仍将长期稳定高速发展的情况下，可适当将保险公司的股权投资比例提高到总资产的30%。

We also find that among the three investment strategies we discussed – the momentum strategy, buying the top or the bottom decile portfolio of funds, adopting the momentum strategy gets a better Sharpe ratio if the emerging market, energy, and mineral funds are not considered. For the portfolio of emerging market, energy, and mineral funds, it is with better performance for the strategies of buying the top or the bottom decile portfolio of funds.

最后，以Sharpe ratio为比较各投资策略在各投资分类的基准，采取动能策略操作基金，在移除新兴、能源、矿业基金之投资组合中有较高的报酬；又以买入形成期表现最好及买入形成期表现最差的基金为操作策略时，在新兴、能源、矿业基金这一分类出现较佳之绩效。

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。

In the third quarter invested a total of 10 money market funds, which includes Jingshun money market funds, money market funds to build the letter, letter, such as money market funds 10, the investment amount 620 million yuan.

第三季度投入了10货币市场基金，包括景顺货币市场基金，货币市场的资金用于建设的信，信如货币市场基金10，其中，投资额6.20亿元。

Demands on bond funds, money market funds, fund of funds and guaranteed funds are increasing

值的50%。市场对债券基金、货币市场基金、基金的基金以及保证

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。

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。