上市

The phenomenon that large shareholder infracts small shareholders is ubiquity. Ownershipstructure, especially a high centralization of controlling rights in our country, determines agencyconflict between big shareholder and medium and small shareholder, which may affect corporateperformance.

我国上市公司普遍存在大股东侵害小股东的现象，公司的股权结构，特别是控股权的高度集中决定了我国上市公司的主要代理问题是大股东与中小股东之间的代理冲突，进而可能影响到公司绩效。

The main innovative points are as follows:(1) This paper revealed that the listed companies in different countries initialed MBOs based on the same theoretical inducements and the different realistic reasons.

第六章运用实证研究的方法，全面分析了我国上市公司管理层收购的现实动因、行业分布、股权结构特征、MBO前后的业绩变化，并通过案例分析对上市公司MBO存在的问题进行了研究。

Market bubble last year, we have seen a lot of listed companies in terms of market supervision is a problem, they misappropriated funds of listed companies engage in stock investment in high-risk violations, the performance of fraud, illegal financing is also often , But the positive is that the management is working to manage the city, put a lot of effective measures to further strengthen the financing and management.

市场泡沫去年，我们看到在监管方面有很多上市公司是一个问题，他们挪用上市公司资金进行股票高风险的投资行为，欺诈，非法性能融资也常常，但肯定的是管理工作的管理城市，提出了一系列有效措施，进一步加强融资和管理很多。

This is due to historical reasons, caused by the listed companies and listed companies are not role mismatches.

这是由于历史原因，造成的上市公司与未上市公司的角色错位。

With the promotion of the reform of securities market and fast development of the capital market of our country, the public company, more remarkably, has exposed in the intricate market risk.

随着我国证券市场改革的深化和资本市场的快速发展，上市公司也更显著地暴露在错综复杂的市场风险中，中国证券市场比较差的外在监管环境、不健全的公司内部管理机制以及市场诞生之初制度性因素的内生阻力、时疾时缓的改革步伐和资本寻求增值的天然冲动等综合因素使得许多上市公司难逃风险伤害而遭受破产、清算的命运：公司面临&退市&风险的考验，债权人、投资者的潜在利益面临巨大损失。

SEC Advisery Group Mulls Improvements to U.S. AccountingSEC Advisery Group Mulls Improvements to U.S. AccountingAug. 3, 2007 — WASHINGTON - A 17-member advisery committee began work Thursday on improving U.S. corporate financial reporting, focusing on ways to make it less complex and more useful to both retail and institutional investors.

美联社讯：8月2日，由17名成员组成的SEC咨询委员会开始了其工作，工作的内容主要是改善美国上市公司财务报告的质量，重点放在了降低上市公司财务报告的复杂性及提高实用性上，以便使得财务报告能更好地满足个人投资者和机构投资者的需要。

SEC Advisery Group Mulls Improvements to U.S. AccountingSEC Advisery Group Mulls Improvements to U.S. AccountingAug. 3, 2007 — WASHINGTON - A 17-member advisery committee began work Thursday on improving U.S. corporate financial reporting, focusing on ways to make it less complex and more useful to both retail and institutional investors.

视野据美联社讯：8月2日，由17名成员组成的 SEC 咨询委员会开始了其工作，工作的内容主要是改善美国上市公司财务报告的质量，重点放在了降低上市公司财务报告的复杂性及提高实用性上，以便使得财务报告能更好地满足个人投资者和机构投资者的需要。

With plenty of money sloshing around, what drip-drip of offerings the stock market regulator allows will still be heavily outmatched by demand, stoking over-enthusiasm for new offerings.

在大量热钱流动的情况下，股票市场监管者同意上市的股票仍存在被需求严重高估的现象，从而刺激人们对新上市股票的过分热情。

But but fix a price and appear on the market earlier share price is exorbitant, overdrew its are very long the growing sex of period of time.

但是无奈上市定价和上市初期股价过高，透支了其很长一段时间的成长性。

We find that the IRR on value is not matching for the economy growth,which is related to overpricing on secondary market and over financing activities of listed companies.

本文发现相对于高速的经济增长，中国上市公司的价值内部报酬率偏低，该证据与中国股票二级市场的价格被严重高估以及上市公司的过度融资动机相关。

And Pharaoh spoke to Joseph, saying, Your father and your brothers have come to you.

47：5 法老对约瑟说，你父亲和你弟兄们到你这里来了。

Additionally, the approximate flattening of surface strip using lines linking midpoints on perpendicular lines between geodesic curves and the unconditional extreme value method are discussed.

提出了用测地线方程、曲面上两点间短程线来计算膜结构曲面测地线的方法，同时，采用测地线间垂线的中点连线和用无约束极值法进行空间条状曲面近似展开的分析。