国有企业

During this process of corporatization of state-owned enterprises,due to the uniqueness of their shareholders,the corporate system was dissimilated and failed to achieve its intended results.

国有企业在公司化改组进程中，由于其股东的特殊性，使公司制在国有企业中发生了异化，并未收到预期的效果。

And most of diverges are in the immunity of state-owned enterprise. And our country's state-owned enterprise is always be suited in foreign country. So the discussion for this issue is quite valuable.

其中国有企业的豁免问题在实践和理论中分歧最多，我国国有企业在国外受诉也时有发生，因此对该问题的探讨具有相当的实践意义。

The China corporate bond market provides an infrastructure for the soundness of SOEs' corporate governance, and also, has become a necessitating part of China financial market system.

公司债券市场的发展不仅为国家财政政策和货币政策的实施提供了市场化基础条件，也为国有企业和国家重点建设项目的资金需求提供了便利的筹集渠道，并对完善国有企业的治理结构提供了基础条件。

Moreover, increasingly the most productive state enterprises fund their investments internally, leaving banks more reliant on the smaller and shakier SOEs.

此外，越来越多的最有成效的国有企业内部的投资基金，使银行更加依赖较小和shakier国有企业。

This kind of relationship is not easy to be defined; kind is the must difficult point to clear the property rights of the modern enterprise.Through studying, we believe the key of the state-owned enterprises share-holding system of twenty lie in straitening the relation of the properly rights and forming and structure of properly rights, establish a perfect corporate system, such as multiple property rights, artificial person, socialization, perfect and far marked system, disappear the state-owned enterprise equity, make the state-owned equality share by some state-owned asset agents and construct reasonable equity structures.

在企业产权多元化改制中，部分资产或全部资产应有偿清晰到自然人，这是产权高度清晰的标志，而使产权结构多元化、法人化、社会化和培育充分公平竞争的市场体系，把国有股配置给多个国有资产代理人，构造合理的股权结构，则是国有企业治理结构的保证。

In 2005, the auditor-general of Audit Commission proposed "Three Combinations" which provide us with a performance-audit road with Chinese characteristics.

国有企业是国家财政收入的主要来源，是我国现代化建设的重要支柱和骨干力量，关注国有企业效益审计有着重要的理论和现实意义。

The second part is composed of the second chapter and the third chapter, in this section, making systematical summary and research on the theory and practice of privatization of state-owned enterprises on the base of making frame theory analysis on state-owned enterprises and its privatization.

第二部分由第二章和第三章构成，在这部分中，在对国有企业及其民营化进行框架性理论分析基础上，对国有企业民营化的理论与实践进行了系统的总结和研究。

In this thesis, the met hods of comparison research, qualitative analysis and the combination of positive philosophy and standardized research, the theories of economics and management are used to make systematic and comprehensive analysis of the agency-principal system of SOE based upon the research results of the theories and the borrowing and absorbing the advanced thoughts of the theories of modern agency -principal system of the western countries according to Characteristics of China's enterprises and situations of China, and to make a deep and detailed research of the key issues of the incentive and restriction mechanism of operators.

本文采用比较研究、定性分析、实证研究和规范研究相结合的方法，利用经济学和管理学的理论与方法，在前人大量研究的基础上，借鉴和吸收西方现代公司委托代理理论的先进思想，针对我国国有企业的特点和国情，对国有企业经营者的激励约束机制进行了系统、全面地分析。

Firstly, it lists the positive significance of Chinese state-owned enterprise in MBO. And then it concludes the overall features of Chinese state-owned enterprise in MBO and the legal quagmires which are narrow operation space and nonstandard process etc.Part IV: suggestion for consummating MBO legal system.

首先列举了我国国有企业实施管理层收购的积极意义，然后通过分析我国管理层收购不同发展时期的典型案例，归纳出我国国有企业管理层收购的总体特征以及存在操作空间狭小、过程不规范等法律困境。

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。

The concept of equivalent rotationally rigidity is offered and the formula of rotationally rigidity is obtained.

主要做了如下几个方面的工作：对伸臂位于顶部的单层框架—筒体模型进行分析，提出了等效转动约束的概念和转动约束刚度的表达式。

Male cats normally do not need aftercare with the exception of the night after the anesthetic.

男猫通常不需要善后除了晚上的麻醉。