创业资本

The level of free cash flows and the shareholding ratio of major external shareholders have no significant effects on the start-ups' leverage. However, in order to avoid the firm going bankrupt, the entrepreneur has the stronger motivation to reduce the leverage when he holds more shares, and the levels of the long-term debts and the bank loans decrease significantly with the increase of the entrepreneur's shareholdings.

进一步，受创业者与股东间代理冲突不及成熟企业严重的微观经济特征的影响，自由现金流和外部大股东持股比例对创业企业资本结构无显著影响，而高持股比例使得创业者倾向于选择低的债务水平，且创业者持股对长期负债和银行货款的负向影响较其对短期负债和商业信用的负向影响更为明显。

Do poineering work board let China the sword go through the mill capital market 10 years long, a key of meantime is pair of opportunities hold.

创业板让中国把资本市场之剑磨砺了十年之久，其间的一个关键就是对时机的把握。

Capital market the grand opera this year -- do poineering work board rolling out is time problem only merely.

资本市场今年的重头戏——创业板的推出仅仅只是时间问题了。

Competent commercial departments at all localities shall actively coordinate pertinent local departments for support small and medium circulation enterprises to promulgate tax and financial support policies related to pioneering work encouragement and supports given to small and medium circulation enterprises for business innovation, technical innovation and market exploration, reduce costs for the restructuring and reform of small and medium circulation enterprises, encourage the financing by means of income from operation of state-owned enterprises' assets, liquidity of commercial land, reduction of state-owned capital in circulation enterprises, transfer and financial allocation, in places where conditions permit, set up special funds for the reform of state-owned small and medium circulation enterprises which shall be used to pay the restructuring fee which is payable by and fails to be paid by restructured enterprises lacking strength to do so, and to pay the social insurance and economic compensation, the payment of which the cash after liquidity of assets of enterprises in bankruptcy is not sufficient to cover, actively coordinate with the local department for real estate administration for its support, solve problems on the ownership of commercial real estate which has been used for long by state-owned small and medium circulation enterprises, and earnestly implement the preferential policies of the State concerning the reemployment of laid-off workers by enterprises and concerning the establishment of small and medium enterprises by laid-off workers from state-owned enterprises.

各地商务主管部门要积极协调当地有关部门出台鼓励创业、支持中小流通企业经营创新、技术创新和开拓市场的税收政策和金融支持政策，降低中小流通企业的改革、改制成本。鼓励有条件的地方通过国有企业资产经营收益、商业用地变现、流通企业国有资本减持、转让以及财政拨付等方式筹措资金，建立国有中小流通企业改革的专项资金，用于无力支付改制费用企业的改制费用以及破产企业资产变现后不足支付职工社会保险、经济补偿等方面费用。要积极协调，争取地方房产管理部门的支持，解决国有中小流通企业长期使用的商业用房产权归属问题。要认真落实国家关于企业吸纳下岗职工就业和国有企业下岗职工创办中小企业的优惠政策。

Moreover,This article bases on the data of a investigation on 3026 returned peasants, which was carried out in May 2007, and uses an modified Mincer income model to test the rates of return from labor capital.

在考察返乡创业农民工常规形式的人力资本时，认为受教育年限、累计务工年限、职业类别与行业因素等对农民工返乡后收入的影响要高于对其务工期间收入的影响。

Should be opposite conciously so enter do poineering work board company structure undertakes modulatory, what improve and maintain structure of capital market industry is relatively balanced.

所以应有意识的对进入创业板的企业结构进行调节，改善和维护资本市场产业结构的相对均衡。

Through four years of painstaking accumulation of capital, since 2001 young workers eventually established the electrical home appliance chain upgrade, chain expansion strategy, the second speed for the start-up stage. In May 2001 in Quanzhou, Anjo, opened its first North Road, more than 1000 square meters of professional self-rated Quanzhou electrical monomer chain stores first, marking the operation of light electrical appliances from the monomer to the chain of overflight, and then outside on behalf of Plaza shops, stores Tu, Nanan store to expand the third take-off.

走过四年艰辛的资本积累，自2001年轻工电器终确立了以家电连锁升级，连锁扩充提速为战略的二次创业阶段。2001年5月在泉州田安北路开设第一家1000多平方米的专业自营连锁店堪称泉州电器单体店之首，标志着轻工电器从单体经营到连锁经营的飞越，再到外代广场店、涂门店、南安加盟店拓展的第三次腾飞。

The thesis studies how the asset structure of new business venture effects its value creation process at first, and then indicates that the intellectual assets which consists of the human capitals and intellectual properties are the principal value driven factors.

本文首先对创业企业的资产构成及对价值创造的作用进行了研究，指出人力资本和以知识产权为代表的知识资产是企业主要的价值驱动因素。

In the global financial crisis and the Shenzhen Stock Exchange launched the Growth Enterprise Market brewing against the backdrop of the current fair organized by the "Capital Market Forum peak spot," a great deal of attention, the world's major stock exchanges and financial giant will be authoritative To attend the meeting to discuss how to deal with financial crises.

在全球金融危机和深交所创业板酝酿推出的背景下，本届高交会举办"资本市场斑峰论坛"备受瞩目，全球各大证券交易所巨头和金融权威人士将到会，共同探讨如何应对金融危机。

In 1984, Qingsong items come with a 374 yuan capital of Zhejiang Longyou, with the future development of science and technology to create a better vision and passion for invention created Stentor telecommunications electricalíbegan a 001 person start-up the road early.

1984年，项青松带着374元资本来到浙江龙游，怀着对未来科技发展的美好憧憬和发明创造的激情创建了宏声电讯电器修理部，开始了001人早期的创业之路。

Neither the killing of Mr Zarqawi nor any breakthrough on the political front will stop the insurgency and the fratricidal murders in their tracks.

在对危险的南部地区访问时，他斥责什叶派民兵领导人对中央集权的挑衅行为。

In fact,I've got him on the satellite mobile right now.

实际上 我们已接通卫星可视电话了