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Our study leads to the following findings: First, if we take short-term debt into consideration and eliminate the IPO effect, the equity financing preference no longer exists: second, financial deficits play a more important role than traditional firm characteristics in debt ratio adjustment process, which implies that the pecking order theory can account for corporate financing behaviors to some extent: third, equity market conditions and government regulatory policies have some effect on the composition of firm external finance.

基于对中国上市公司股本融资偏好问题的重新审视,我们发现:如果将短期债务考虑在内并剔除首次公开募股的影响,股本融资偏好就不复存在;(2)在企业债务比率的调整过程中,融资缺口所起的作用超过了传统的企业特征因素,这意味着顺序偏好理论能在一定程度上解释企业的融资行为;(3)股票市场状况和政府管制政策会对企业外部融资的构成产生一定的影响。

International factoring has developed quickly and play a important role in international trade with the rapid development of information and communication technique.

随着国际贸易中买方市场的形成和信息技术的迅猛发展,国际保理在国际贸易中扮演着愈来愈重要的角色。

The show's writers play a huge role, too, with fastidiously crafted scripts that, by comparison, leave most sitcoms in the dust.

这个影集的编剧也扮演重要角色,精心刻画的剧本,相形之下使大部分情境喜剧灰头土脸。

The above results confirm that the carriers play a crucial role in the ferromagnetism of Tb-doped ITO films.

随着反应时间和Zn~(2+)离子在溶液中浓度的增加,纳米棒的直径和长度随之增大。

Hepatic stellate cells play a major role in the occurrence and development of hepatic fibrosis.

肝星状细胞在肝纤维化的发生与发展中起主要作用。

Fire opal sometimes does have play of color like other opals but it does not need this to take a starring role in jewelry.

有时确实扮演火蛋白石色如其他蛋白石但不需要采取这主演角色首饰。

I hope you in the first quarter of 2 to play a greater role.

希望你在第2季发挥更大的作用。

Ltd. is expected to play a critical role in SanDisk's operations as the plant is set to focus on the assembly and test of flash memory products.

这家 SanDisk 半导体有限公司设在上海紫竹科学园区,专注做装配和测试闪存产品。

With the adjustment of agriculture structure, forage crops play a vital role in agriculture production.

随着农业产业结构的调整及三元种植结构的推广,牧草在农业生产中的作用日益显现。

What are called the three elements of a force play an important role in our study of mechanics.

人们所说的力的三要素在我们学习力学中起着重要的作用。

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According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.

曝气设备的动力效率在叶轮转速为120rpm~150rpm时取得最大值,此时氧利用率和充氧能力也具有较高值。

The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.

稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世,形体几无变化。

When I was in school, the rabbi explained everythingin the Bible two different ways.

当我上学的时候,老师解释《圣经》用两种不同的方法。