上市

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%。

The statistics, in Shanghai and Shenzhen listed companies, the asset liability ratio of more than 65% of the 102 companies, including asset-liability ratio at 65% to 80% with 81, asset-liability ratio of 80% to 100% 17 home, assets and liabilities have exceeded 100% eliminate the white PT Yu, ST Baiyun Mountain, PT agricultural trading companies, etc.

经统计，在沪深两地上市公司中，资产负债率超过65%以上的公司有102家，其中资产负债率在65%至80%的有81家，资产负债率在80%至100%的有17家，资产负债率超过100%的有PT渝汰白、ST白云山、PT农商社等4家。

Stock asset allocation in order to select the next 1-2 years growth in the capacity of uncertainties listed companies.

股票资产配置，以选择下一个1-2上市公司的年增长不确定性的能力。

Deutsche Bank also plans to open more retail branches in India and China, as well as develop its three joint ventures in mainland China that span asset management, stock market listings and retail banking.

德意志银行还计划在印度和中国开设更多的零售分支机构，进一步发展在中国大陆的三家合资企业。这三家企业分别涉及资产管理、股票上市和零售银行等领域。

For state-controlled listed firms,asset turnover is a very important index in the performance evaluation mechanism.

因此，在国有控股上市公司的绩效考核机制中，资产周转率是一个非常重要的绩效指标。

Contrary to asset turnover,profit margin is not a key measure of CEO\'s performance due to the existence of non-profit objectives and lacking of incentive to control the operational cost.

而由于存在非营利目标及缺乏成本控制的激励，利润边际并不是国有控股上市公司考核和决定CEO去留的重要指标。

The sun cable accounts receivable turnover, total asset turnover ratio ranks first in the same industry companies, the net capital gains rate, etc., in the same industry to maintain a high level.

太阳电缆的应收账款周转率、总资产周转率居同行业上市公司首位，净资产收益率等指标在同行业中保持较高水平。

3SMEs have higher inventory and asset turnover ratios.

3中小企业存货周转率、总资产周转率较上市公司为高。

Moreover,state shareholders tend to monitor CEOs and evaluate their performance basing on asset turnover when there is an indication of non-profit objective such as over-employment or opportunistic behavior,while this is not the case for those private-controlled listed firms.

此外，在存在超额雇员或追求机会主义行为等非业绩目标时，国有股东更倾向于基于资产周转率来考核和更换CEO，可这一倾向在民营控股上市公司中并不明显。

This paper chooses residual income model to measure the cost of equity capital, and construct some index to represent the total disclosure quality and earnings disclosure quality of Chinese listed companies. Our analysis shows that for the whole sample of listed companies which conduct seasoned equity offerings in the stock market, controlling 6, company scale, B/M, leverage and asset turnover, there is positive relationship between the total disclosure quality and marginal cost equity capital; there is negative relationship between the earnings radical and marginal cost equity capita; there is no remarkable relationship between the earnings smoothness and marginal cost equity capital.

本文采用剩余收益模型计算公司的股权融资成本，分别以披露总体质量和盈余披露质量作为反映我国上市公司信息披露质量的指标，研究发现在控制β系数、公司规模、账面价值比、盈利水平等因素的条件下，总体来看，信息披露总体质量越高的样本公司的边际股权融资成本越高；盈余激进度与边际股权融资成本负相关；而盈余平滑度与边际股权融资成本的关系并不显著。

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。