商业信用

Consequently, this essay choose the "Z-Score Model", which was developed by Altaian, the famous American expert in risks management, to analyze and evaluate the listed companies' credit risks in China and to verify its efficiency to Chinese stocks market. The " Z-Score Model" is an innovation in the evaluation of companies' credit risk in the United States' banks, which is now being used widely. If the model is also applicable in Chinese stocks market, it will be significant in both theories and practices.

因此，本文选用作为美国商业银行信用评估方法的一次重要创新的，目前仍被美国商业银行广泛使用的，由美国著名信用风险管理专家Altman建立的"Z评分模型"(Z-Score Model)来对我国上市公司的信用风险状况进行实证研究，验证其在我国股票市场的有效性程度，如果能证明"Z评分模型"同样适用于我国证券市场，并将其改造为更适合我国上市公司的信用风险分析模型，将不仅具有很大的理论价值，而且也具有十分重要的现实意义。

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。

The rise of jiaozi, is China's market economy and the development of business credit.

交子的兴起，正是中国市场经济和商业信用大发展的成果。

COASTAL COMMUNITY AND TEACHERS CREDIT UNION COLLINS COMMUNITY CREDIT UNION COLUMBUS BANK AND TRUST COMPANY COMERICA BANK COMMERCE BANCSHARES, INC. COMMERCE BANK, NATIONAL ASSOCIATION COMMERCIAL BANK COMMUNITY BANK AND TRUST CREDIT ONE BANK, NATIONAL ASSOCIATION CREDIT UNION CENTRAL FALLS CREDIT UNION OF NEW JERSEY CU COOPERATIVE SYSTEMS DATA CENTER INCORPORATED DHCU COMMUNITY CREDIT UNION DIGITAL FEDERAL CREDIT UNION DUPONT COMMUNITY CREDIT UNION ESL FEDERAL CREDIT UNION EVANSVILLE FIREFIGHTERS FEDERAL CREDIT UNION FAIRFAX COUNTY FEDERAL CREDIT UNION FAMILY SECURITY CREDIT UNION FARMERS AND TRADERS BANK FEDCHOICE FEDERAL CREDIT UNION FIA CARD SERVICES, NA FIA CARD SERVICES, NATIONAL ASSOCIATION FIDELITY BANK FINANCIAL HORIZONS CREDIT UNION FIRST-CITIZENS BANK AND TRUST COMPANY FIRSTMERIT BANK, NATIONAL ASSOCIATION FIRST BANKING CENTER - BURLINGTON FIRST COMMUNITY BANK, NATIONAL ASSOCIATION FIRST COMMUNITY CREDIT UNION FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF PORT ANGELES FIRST FEDERAL SAVINGS BANK OF FLORIDA FIRST INTERSTATE BANK FIRST NATIONAL BANK FIRST NATIONAL BANK OF TENNESSEE FIRST PREMIER BANK FIRST SAVINGS BANK OF PERKASIE FIRST STATE BANK OF ST.

海岸社区与师范储蓄互助社柯林斯合作信用社哥伦布银行及信托公司Comerica银行商业股票银行，工商银行股份有限公司，国家协会为商业银行和信托银行信用社区一家银行，国家会信用联合会中央瀑布信用新泽西兑换联盟协同系统数据中心的法团DHCU合作信用社数字联邦信用合作社杜邦合作信用社的ESL联邦信用合作社埃文斯维尔消防队员联邦信用合作社费郡联邦信用合作社家庭安全信用联盟农民和商人银行FEDCHOICE联邦信用合作社国际汽联卡服务，不适用国际汽联卡服务，全国协会信诚银行信用联盟第一个财政立式服务器，国民银行和信托公司FirstMerit现有银行，第一银行中心的全国性协会-伯灵顿第一社区银行，国家协会第一社区信贷联盟第一个联邦储蓄和贷款协会第一港口洛杉矶联邦储蓄银行美国佛罗里达州第一州际银行第一国民银行第一国民银行田纳西州的首位银行第一储蓄佩卡西作者：意法半导体第一州银行。

There are some problems in agent system of air conditioner sales: Uninformative market environment, commercial credit chaotic, little agent site, luck trained personal lower after-sale service capability.

目前国内代理制销售存在的困难主要有：市场不规范、商业信用差、代理商的实力不足、从业人员素质低、服务水平低等。

Irrevocable, confirmable, transferable L/C, payable in our favor in Germany.

不可撤销、可确认、可过户的商业信用状，在德国支付。

Jilin City in stone wine accessories limited liability company is engaged in research and development, production and operation of the wine accessories business, the company's production base is located in Jilin City of Jilin Province of China scenic Lake Song-Hua, followed by the Changbai Mountains Forest wine accessories with production of precious trees Changbai Mountain - oak, with good commercial credit, high quality customer service and professional marketing and technical services, in-market companies in China established an extensive network of customers, and has achieved rapid development, the Company's production Oak accessories, wine can improve the color and enhance the stability of color and improve the structure of wine, liquor enhance the level of flu, make the wine taste more gentle, mellow flavor after long recollection of fullness, but also so that the aroma of wine integration Coordination of grape wine in the minor Green flavor of Health, such as sulfur smell a bad odor masking effect.

吉林市显石酿酒辅料有限责任公司是从事研发、生产、经营葡萄酒辅料的企业，公司的生产基地位于中国吉林省吉林市风景秀丽的松花湖畔，绵绵的长白山林区拥有生产葡萄酒辅料的珍贵树种---长白山橡木，凭借良好的商业信用，优质的客户服务以及专业的市场销售和技术服务，显石公司在中国市场建立了广泛的客户网络，并取得了快速的发展，本公司生产的橡木辅料，可以提高葡萄酒的色泽，增强色泽的稳定性，改善葡萄酒的结构，增强酒的层次感，能使葡萄酒的味觉更加柔和，后味醇厚丰满回味悠长，还能使葡萄酒的香气融合协调，对葡萄原酒中轻微的生青味、硫臭味等不良气味有掩蔽作用。

The unreasonable design of the system of educational loans in our country mainly results from the lack of warrantors and uselessness of financial subsidy in promoting.It is necessary to change the educational loans into loans for education.

摘 要：我国的&助学贷款&制度设计不合理，主要是担保方缺失，财政贴息起不到促进的作用，有必要把财政的&助学贷款&改成商业信用的&贷款助学&。

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。

Stable and reliable product quality, integrity norms commercial credit, by the user's trust and favorable comments.

稳定可靠的产品质量，诚信规范的商业信用，深受用户的信赖和好评。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。