债务

3"It may not be a legal debt , but it is a personal one," Roti replied."It is a debt of honor."

罗迪说：&法律上这也许不算债务，不过我个人是认帐的，这是道义上的债务。&

The surprise move quickly sapped investor confidence in Dubai's ability to pay down its large debt load, sharply increasing the price of insuring against a default.

这一惊人之举使投资者对迪拜偿还其巨额债务的能力迅速降低了信心，并大幅推升了债务违约保险的价格。

Revolvers are customers that carry college debt and credit card debt; that's how they make their money.

手枪是客户进行高校债务和信用卡债务，那他们如何赚钱。

Professional debt advice can play a critical role in finding you the right debt solution for your circumstances.

专业债务的意见，可发挥关键作用，找到你正确的债务解决方案，您的情况。

"They haven't placed any conditions on the time or the terms. They were obviously involved in the discussions because they were looking to play down some of their debt, so they are keen to have a resolution of the debt issue - but the decision to sell was actually the owners not the banks."

&他们并没有在时间或其他方面开出什么条件，他们全力参与讨论的目的是尽可能快地减轻债务，所以他们更倾向于在债务上作出决议，不过最终的决定还是得老板来做并非银行。&

Based on the year of Electric Power Industry 2005-2008 data sample empirical study found that: China's electric power companies of investment spending and asset liability ratio, long and short term debt ratio, the proportion of bank loans, commercial credit ratio and the ratio of long and short term borrowings were significantly negative correlation, that debt can play a listed company of China Power Investment spending restraints of debt and debt maturity structure and the different types of debt structure binding effects were not significantly difference

本文通过对我国电力上市公司2005-2008年度数据样本的实证研究发现：我国电力上市公司的投资支出与资产负债率、长短期负债比例、银行借款比例、商业信用比例以及长短期借款比例均存在显著的负相关性，证明负债可以发挥对我国电力上市公司投资支出的债务约束作用，并且负债的不同期限结构和类型结构的债务约束效果没有显著的差异性。

The enterprise carries on the earnings management using the debt reorganization the reason, finally aims at the reason which pointed out that proposed the concrete solution and the coordinated sets of measures through to these question's discussion, enable the debt reorganization to play its positive role and the effect truly in order to, can lighten the enterprise burden, helps our country To be listed to get out of trouble, promotes its economical development.

企业利用债务重组进行盈余管理的原因，最后又针对所指出的原因，提出了具体的解决办法和配套措施以求通过对这些问题的探讨，使债务重组真正地发挥其积极的作用和效果，能够减轻企业负担，帮助我国上市公司脱困，促进其经济的发展。

This,周忠惠said that under the old criteria, the revenue generated by debt restructuring is to enter the capital fund, and now debt restructuring proceeds go directly to the current profit — the formulation of the provision does not take into account China's particular environment, but also does not take into account China's capital market regulation some of the requirements and regulations.

这一点，周忠惠表示，根据旧的标准，通过债务重组产生的收益是进入资本基金，而现在债务重组收益直接进入目前的利润—该条款的制定不考虑中国的特殊环境，也没有考虑到中国的资本市场监管的要求和规定一些。

Said that under the old criteria, the revenue generated by debt restructuring is to enter the capital fund, and now debt restructuring proceeds go directly to the current profit ── the provision does not take into account the development of the Mainland of China-specific environment and capital markets did not take into account a number of regulatory requirements and regulations.

周忠惠表示，根据旧的标准，通过债务重组产生的收益是进入资本基金，而现在债务重组收益直接进入目前的利润──该条文并没有考虑到发展的中国内地具体的环境和资本市场并没有考虑到的监管要求和规定。

The dissertation begins with the investigation of the fruitful research on function of debt governance in developed countries such as UK, US, Japan and Germany, and attempts to fill some important gaps in our understanding of inefficient investment controlling function, bankruptcy threat function and function of creditor's participating in corporate governance; Second, Theoretical and empirical study is done on whether three functions of debt governance can work well in state-owned listed companies. The result shows that so far the function of debt governance can't work well as expected; Third, after examining the special institutional background of China, the dissertation argues, grounded on the research results, that the essential institutional reasons include creditors and debtors being "quasi" market participants, the "quasi-equal" debtor-creditor relationships and the "quasi" market rules; Finally, it comes to the conclusion that the fundamental methods to change the situation are to encourage the supervision of banks, to deepen the reform of state-owned companies and to fulfill the outside institutional requirements for guaranteeing the function of debt governance.

文章首先借鉴英美、日德等发达国家对债权治理功效的已有研究成果，总结归纳出负债抑制非效率投资功效、负债的破产威胁功效以及债权人直接介入公司治理功效；其次，分别对三大债权治理功效在我国国有控股上市公司中能否发挥作用进行理论解析和实证检验，研究发现，目前我国企业债权治理功效不能发挥应有的作用；再次，针对研究结论，从我国特有的制度背景出发，分析其症结，认为我国目前的债权债务双方的&准&市场主体、债权债务双方的&准&平等关系、&准&市场游戏规则是导致债权治理功效不能发挥作用的根本制度原因；最后，提出解决对策，认为增强银行的监督激励、深化国有企业的改革以及实现债权治理功效的外在制度要求是债权治理功效发挥作用的根本途径。

But we don't care about Battlegrounds.

但我们并不在乎沙场中的显露。

Ah! don't mention it, the butcher's shop is a horror.

啊！不用提了。提到肉，真是糟透了。