企业

Therefore, it can be regarded as a great improvement of the investment decision-making theory and methods .This article makes a systematic research on real options theory and method and its application, including the following several main aspects:Firstly, it makes a detailed discussion about the common theoretical basis of financial options and real options, including no-arbitrage equilibrium principle, risk-neutral definition, complete market and dynamic tracking.Secondly, it analyze three basic characteristic of investment decision-making in modern market economic system: irreversibility, uncertainty and flexibility, and from the angle of their mutual quantitative and qualitative interactions, it makes a comparison between the traditional NPV methods and real options methods and makes a summary of the general analytical methods of real options.Thirdly, it discusses the all elements in the application of real options such as the ^leakages in value of real assets, basis risk, and private risk, and furthermore, it attempts to put forth a normalized strategy of its application and construct a basic framework of its application.Fourthly, it applies real options theory to strategetic investment of enterprises and the buy-out of company, putting forth a value model for strategetic investment program and making a concrete analysis of its application to buy-out. Furthermore, it advocates that a flexible investment decision-making system should be setup according to real options theory in our country.

本文对实物期权理论和方法及其应用进行了系统研究，主要内容包括如下几个方面：(1)详细讨论了金融期权和实物期权共同的理论基础，主要包括无套利均衡原理、风险中性定义、完全市场以及动态复制方法，对这些理论方法的探讨既是本文的出发点和基础，它们提供了研究实际应用实物期权的一个基准点，也是贯穿全文的线索和灵魂；(2)分析了现代市场经济体系中投资决策的三个基本特征即不可逆性、不确定性和时机选择，并从它们数量上和质量上相互作用的重要意义的角度，分析了传统的净现值法与实物期权方法的差异，指出了净现值法在不确定环境中存在的缺陷及实物期权处理投资灵活性的价值，并将净现值法纳入实物期权投资分析决策体系当中，总结了企业投资决策实物期权的一般分析方法；(3)探讨了实物期权应用中要考虑的各种要素，如实物资产的价值漏损、基差风险和非市场风险等，并进一步提出了实物期权应用的规范化策略和构建了一个实际应用实物期权方法的基本框架，尝试将期权的基本原理与企业在现实经济环境中投资决策的要素结合起来，从而可以在一定程度上超越期权的复杂的数学计算而汲取期权思想的精华，从而促进期权决策方法在实际投资决策中的应用；(4)将实物期权方法应用于企业战略投资，得出了战略投资项目的价值模型，指出可以将实物期权理论和方法应用于企业并购，分析了应用的具体方面，并提出应根据实物期权理论建立一套适合我国企业的灵活的投资决策系统。

Knowledge transfer and the financing efficiency have notable effect on enterprise innovation. Characteristics of innovation network promote the succuss of enterprises. But it is iterupted by the knowledge sharing and financing efficiancy.Neteork capability also influence the knowledgr aquistion from network-partner.In a words,funds and knowledge plays an important role in promoting the growth and innovation of coperations.

更多企业创新具有显著的影响作用；创新网络特征对于企业绩效的提升具有较大的影响作用，但是还受知识共享和融资的中介影响；现代服务企业从网络中获取知识还受企业网络能力的影响；资金在企业的成长和创新方面起了重要的推动作用。

Secondly, the thesis analyzes the conditions of high-tech enterprises to apply stock option, points out that the high growth of high-tech enterprise and specific characteristics of high-tech talent motivation are favorable conditions of high-tech enterprises to apply stock option. But the abnormal capital market undeveloped talent market imperfection relative laws and rules and unconsummated enterprise administration structure are unfavorable conditions of high-tech enterprises to apply stock option. Then the thesis promotes corresponding improvement measures after specifically expounding their unfavorable influences to stock option utilization.

其次，论文分析了高科技企业运用股票期权的条件，指出高科技企业的高成长性和高科技人才激励的特殊性是高科技企业运用股票期权的有利条件，但我国资本市场的不规范、人才市场的不发达、相关法律法规的不健全及企业治理结构的不完善是高科技企业运用股票期权的不利条件，在具体阐述了它们对股票期权运用的不利影响后提出相应的改善措施。

And the advanced configuration that the finite sex of natural resources of enterprise oneself knowledge makes the enterprise uses dummy company increasingly -- the market demand that can't answer change what intellectual alliance dummy company will make up for company knowledge natural resources quickly.

而企业自身知识资源的有限性使企业越来越多地采用虚拟企业的高级形态——知识联盟型虚拟企业来弥补企业知识资源的不足以快速响应变化的市场需求。

And the report thinks related IDC, the medium and small businesses that has half above at present does not have his website, it is at the same time in the company that already had a website, the effect of enterprise website sale that the enterprise of nearly 50% thinks to use at present is not ideal, follow-up safeguard a trouble, the management that cannot be an enterprise brings effective help, cannot make the enterprise comes true to arrive from the tradition truly through the website more the fundamental change of electronic business affairs.

而IDC相关报告则认为，现在有一半以上的中小企业没有自己的网站，同时在已有网站的企业中，近50%的企业认为现在所使用的企业网站营销效果不理想、后续维护麻烦，无法为企业的经营带来有效的帮助，更无法使企业通过网站真正实现从传统到电子商务的根本转变。

This article first has carried on the outline to the enterprise accounting system and the tax law, has been clear about between them the relations and the difference, because has the difference, is easy to cause tax source draining, creates the tax payment adjustment project to increase, affects the government document the authority, tax payment both sides is easy to cause the dispute, and arbitrates with difficulty.

摘要本文主要研究我国企业会计制度与税法对企业日常经济活动的影响，它们之间的关系和差异。由于有差异的存在，给国家和企业带来了一系列的问题。在以市场趋向的经济体制改革逐步深入，我国加入WTO，会计体系逐步与国际接轨的形势下，这些差异被进一步扩大。处理企业会计制度与税法之间的差异，是当前企业急需解决的问题。

Symbolized as the enterprise image, set of designs artisticappropriate professional attires, not only can demonstrate anenterprise good image, moreover can strengthen the enterprise staff'sself-confidence, causes the enterprise to have a bigger cohesiveforce, the centripetal force, the promotion company's overallenterprise culture atmosphere, thus enhances the company the economicefficiency.

作为企业形象标志，一套设计美观得体的职业装，不但能展示一个企业良好的形象，而且能够增强企业员工的自信心，使企业产生更大的凝聚力、向心力，提升公司的整体企业文化氛围，从而提高公司的经济效益。

There are at least two reasons to say, the first reason, there is not enough and consummate policies to protect private enterprise"s benefit and private enterprise can"t get the same political treating as government enterprises. The another one, the system of most private enterprise is non-consummate, such as not consummate at the field of management structure, bestirring and inhibiting rules, stratagem and management, and result in the poor core competence. For examples, some leaders of private enterprise are arbitrary and dont believe in other people to manage work; only trust his connection and private friends to be in charge of management; some decision made according to feeling only, not according to scientific judgment; in defect of bestirring and inhibiting rules...so on.

究其原因，一方面是因为目前中国保护民营企业的制度机制还不完善，民营企业还无法取得和国营企业相同的政治待遇，另一方面是由于多数民营企业自身制度缺损，表现在企业治理结构、激励约束机制、战略管理等方面极不完善，从而造成的核心竞争力普遍低下，如：民营企业家决策中独断专行，对他人不能放心放权；民营企业经营管理中太相信亲戚和朋友；部分决策听任感觉，缺乏科学论断；缺少激励约束机制等。

First, the article analysis those major problems in front of the national enterprise and cruxes in the erection of the modern enterprise system are based on the analysis of modern enterprise systems feature, basic content and objective source. It also provides lots of forms by which national enterprise establishes modern enterprise system and corresponding reformation measures.

首先，在分析现代企业制度的特征、基本内容和产生的客观必然性的基础上，剖析了国有企业面临的主要问题和建立现代企业制度的难点，给出了国有企业建立现代企业制度的方式和配套改革措施。

In the same time the co-producing technique contributes great to better the city air quality. The text also puts press upon disserting the scarce development eidos, company culture construction, staff incentive mechanism in enterprise management mechanism according to the premise of gaining policy support from enterprise itself. It will show us the workable and existing measures according to dissert the nation policy support and administration on the power-heating cooperation enterprises from the nation policy point.

本文在&热电联产&获得政策支持的前提下，从企业自身出发，着重论述了热电联产企业管理机制上欠缺的营销理念、企业文化建设和人才的激励机制及体制的创新；并探讨了国家政策对热电联产企业的支持与管理，描绘了热电联产企业未来发展的蓝图。

It has been put forward that there exists single Ball point and double Ball points on the symmetrical connecting-rod curves of equilateral mechanisms.

从鲍尔点的形成原理出发，分析对称连杆曲线上鲍尔点的产生条件，提出等边机构的对称连杆曲线上有单鲍尔点和双鲍尔点。

The factory affiliated to the Group primarily manufactures multiple-purpose pincers, baking kits, knives, scissors, kitchenware, gardening tools and beauty care kits as well as other hardware tools, the annual production value of which reaches US$ 30 million dollars.

集团所属工厂主要生产多用钳、烤具、刀具、剪刀、厨具、花园工具、美容套等五金产品，年生产总值3000万美元，产品价廉物美、选料上乘、质量保证，深受国内外客户的青睐