产权资本

Several years takeover and anti-takeover action discovered the problems such as property right relationship unclear, legal system distemperedness.

经历了几年的收购与反收购，中国资本市场产权关系不清、法制不健全等的缺陷也充分暴露出来。

Its runs in comprehensive and specialized areas, having plenty of experience in litigation, arbitration, negotiation, consultation and program planning in area of corporate management, corporate merge, IPO, corporate restructure, direct investment, capital market, bankrupt liquidation, laborhood management, commercial business, international trade, intellectual property right, product quality, international transportation, real property, construction, finance, insurance, securities, imports and exports, etc.

达维以&人才提供服务、服务创造价值&为企业理念，业务范围涉及广泛且具有极强的专业性，尤其在公司管理、公司购并、公司改制、公司重组、直接投资、资本市场、破产清算、劳动管理、商事交易、国际贸易、知识产权、产品质量、国际运输以及房地产、建筑、金融、保险、证券、进出口等行业方面的诉讼、仲裁、谈判、顾问、项目策划拥有丰富的业务经验。

Among them, the stock of technology of proliferous problem; that the system of capital of technology of fee issue; that system of technical property right settles technical innovation gain settles technical innovation gain changes a system is the important way of interest of innovation of implementation of the person that innovate and method.

其中，技术产权制度解决技术创新成果的所有权问题；技术资本制度解决技术创新成果的增殖问题；技术股份化制度则是创新者实现创新利益的重要途径和方法。

This is the most important viewpoint of this paper, with the signifying innovations in the research fields of PRHC.

进一步分析了人力资本产权博弈对企业治理、企业管理和企业战略管理的影响。

The valuation of such industrial property and proprietary technology shall be consistent with common international principles of valuation, and the amount at which they are valuated shall not exceed 20 percent of the registered capital of the wholly foreign-owned enterprise.

该工业产权、专有技术的作价应当与国际上通常的作价原则相一致，其作价金额不得超过外资企业注册资本的20％。

As a system innovation, MBO has positive functions at enterprise effective conformity, decreasing agent costs, clearing property right relationship, criterion corporate management and has become a way of withdrawing national capital.

管理层收购(Management Buyouts，文中简称MBO)作为一种制度创新，对于企业的有效整合、降低代理成本、理顺产权关系、规范公司治理等方面起到了积极的作用并逐渐成为国有资本退出的一种方式。

During the evolution of prosperity, there are three typical payment modes: Cash payment, once the earliest, soon was replaced by stock and debenture payment with the development of capital market. Because of the action of the bank and other financial agencies, deferred purchase and lever purchase have taken place of others above quickly.

在西方产权重组发展历史上，现金支付曾经是企业并购的一种最为普遍的支付方式，随着资本市场的日益发展，股票支付和债券支付对西方企业并购发展起了积极作用，之后鉴于银行和各种金融机构在企业收购中的影响愈来愈大，又出现了递延收购和杠杆收购等新的企业并购支付方式。

In view of executive power to intervene in the allocation of resources over the reality of the situation, should intensify their efforts to clean up the recent各种乱收费, levies, and shut the power of the currency market of the "gray channel" reflects the strong focus on cleaning up the community, do not lead to monopolies fair competition policy, and actively create a fair and regulated competitive environment, maximizing the contribution of income and reflected on and so on; to be a more effective means of remediation of illegal income, seek to abuse the interests of individuals or small groups with severe punishment imposed for corruption ; At the same time, it is necessary to speed up the reform of the political system, and promote democratization and openness in decision-making, and strengthen the public service and acts of administrative bodies at all levels of supervision and constraints on the exercise of such power by the process of forming a comprehensive and reasonable mechanism for binding.

当中产阶级成为一个国家的主流群体时，就会结成一张维护社会长治久安的&安全网&。如果说&社会稳定是压倒一切的政治任务&的话，那么，扩大中产阶级的比重就是实现稳定的社会基础。如何促进中国中产阶级的快速发展？笔者认为当前应特别重视以下几个方面：（1）加强法律保护的力度。实践证明，只有依法保护私人产权和维护社会公正，才能促使人们凭借勤劳和智慧去创造财富，才能抑制少数人依仗权势&寻租&和通过贪污腐败手段暴富，才能防止百姓的私有财产不被权贵势力非法侵吞。这样，所有的人将可平等地获得上升的机会，私人资本和职业阶层也会有更大的成长空间。（2）大力发展公共教育事业。知识能够帮助人们改变命运，只有大力发展公共教育，才能使更多的人得到平等分享经济增长成果的机会，这是知识经济时代培育中产阶级的&树人工程&。我们要尽快普及12年制义务教育，大力开展终身教育，打造更多的学习型组织，营造学习型社会的氛围，从而使更多的人通过攀登知识阶梯而升入中产阶级。（3）加快金融创新。中国居民目前工资收入在家庭收入中的比重平均为70％左右，大大高于发达国家50％的水平。工资收入在家庭收入中的占比过大，自然会减缓大多数人进入中产阶级行列的步伐。我们认为，要提高居民收入中非工资收入的比重，最重要的措施就要培育居民的投资意识，并通过金融创新为他们提供多样化的投资工具（如形式多样的共同基金等）。（4）提高专业技术人员、经营管理者、教师、研究人员、公务员等智力劳动者的收入，鼓励智力劳动者进行智力投资，并保护相应的合法权益。（5）建立职业经理人激励机制（包括年薪、奖金、红股、期权等方式），形成职业经理人致富与企业发展互动的财富积累机制。

In our economic life, consolidation and purchasing of enterprise plays every active role in revitalizing stock capital, realizing scale economic efficiency of enterprise, activating bad financial claim of bank and settling prob- lem of employment and life safeguard; meanwhile it still has desider- ating problems, such as unsound regulation, unclear property right relation, faulty intermediary organs, too much administration inter- vention.

在我国的经济生活中，企业并购在盘活存量资本、实现企业规模经济效益、活化银行的不良债权以及解决职工就业和生活保障问题等方面起到了很大积极作用；同时，它又存在着法规不健全、产权关系不清、中介机构不完善、行政干预过多等亟待解决的问题。

Other loss in capital allocation efficiency comes from unclearly defined property rights.

资本配置效率的其他损失来自于产权不清晰。

This one mode pays close attention to network credence foundation of the businessman very much.

这一模式非常关注商人的网络信用基础。

Cell morphology of bacterial ghost of Pasteurella multocida was observed by scanning electron microscopy and inactivation ratio was estimated by CFU analysi.

扫描电镜观察多杀性巴氏杆菌细菌幽灵和菌落形成单位评价遗传灭活率。