总收益

This article analyzes the profit model of insurance companies in detail and validates the relevance between the prescripts which have been constituted by the China Insurance Regulatory Commission in the operation of insurance funds and the investment income of insurance companies through financial statements of the three companies, China Life, Ping An of China and China Pacific, which have been coming into A-stock market. It analyzes the relationship between the insurance company asset allocation and the funds income and risk of insurance companies by simulating the different insurance companies' earnings on different asset allocation and different equity investment yield, so as to arrive at the objective how to configure which prescripts to funds operation of insurance companies is reasonable, demonstrates the rationalities of insurance funds operation prescripts which have been constituted by the China Insurance Regulatory Commission, and considers the equity investment of insurance companies can be properly enhanced to thirty percent of total assets because China's economy will develop stably, chronically and at high-speed .

文中通过借助目前A股上市的中国人寿、中国平安和中国太保三家保险公司的报表详细地分析了保险公司的盈利模式，验证了保监会关于保险资金运用的管理规定与保险公司的投资收益率存在的相关性，并通过模拟在不同资产配置及不同股权投资收益率下保险公司最后的收益情况，用数据分析了保险公司资产配置与保险公司的资金收益和风险的关系，从而得出保险公司的资金运用怎样规定才是合理的，也论证了保监会对保险资金运用的管理规定的合理性，并认为在我国经济仍将长期稳定高速发展的情况下，可适当将保险公司的股权投资比例提高到总资产的30%。

""Gross Revenues" means the aggregate of all revenues of any nature derived directly or indirectly from the use, occupation or operation of the Facility, including but not limited to green fees, gross sales proceeds from the sale of and transfer of memberships to the Facility, monthly dues from members of the Facility, Deemed Revenue, rental fees for golf carts, golf clubs and other rental items, net proceeds from lesson fees, range ball fees, net golf academy fees, food and beverage sales (excluding sales of alcoholic beverages), revenue generated from space rentals and from meetings, banquets, parties, receptions, tournaments and other group gatherings, merchandise, clothing and equipment sales, rental or other payments from lessees and sublessees of space in the Facility, the proceeds of business interruption or similar insurance and the Residential Levy but excluding Excluded Revenue;.

"总营业收益"意谓从高尔夫设施的使用、占用期或经营中直接或间接得到的各种性质的收入总和，包括绿化费用收入、销售收益及将高尔夫设施的会员资格转让的销售总额收入、高尔夫设施会员的每月会员费、信用收入、租用高尔夫车、高尔夫俱乐部以及其他的租借费收入、授课的纯收入、range ball 收费、高尔夫学院纯收入、食品饮料销售收入、场地，会议，宴会，招待，邀请及其他团体聚会收入、商品，服装及设备销售收入、高尔夫设施场地的承租人及转租人租借或支付得到的收入、经营中断或类似保险收入、除额外收入外的住宅征收收入等。

In order to avoid the limitation of using only Tobin's Q to evaluate marketing performance and return on equity to evaluate financial performance, this paper introduces factor analysis to calculate synthesized performance, successfully processing totally 12 original indexes, such as return on net sales, average return on equity, return on total assets, per share earning ratio, current ratio, quick ratio, debt to assets ratio, rate of stock-turn, accounts receivable turnover, total asset turnover, main business growth rate, and total assets growth rate.

为了避免单纯使用托宾Q值度量企业市场业绩以及使用净资产收益率等单一财务指标度量企业财务业绩的缺陷，该文运用了因子分子法求得上市公司的综合绩效，成功地对总共12个原始绩效指标，如销售净利率、平均净资产收益率、总资产报酬率、每股收益、流动比率、速动比率、资产负债率、存货周转率、应收账款周转率、总资产周转率、主营业务收入增长率以及总资产增长率等进行了处理。

A standard expected value model for multi-objective multi-stage transmission planning is presented to realize the transmission optimal planning with the control of line overloading risks. In this model, a constraint of overloading risks is built with expected value and standard deviation of random line active power and two objectives are given as expected value of the average power loss and discount value of the investment cost. By modeling uncertain informations with probability theory, the probabilistic DC power flow is adopted for the correlated calculations among random variables in the planning model.4 A novel multi-objective transmission planning approach that considers transmission investment profit is proposed. Requests for transmission investment profit and social welfare are involved in the proposed planning approach.

以方案总投资费用贴现值和平均网损期望值为目标函数，建立多目标多阶段输电网规划的期望值模型，以线路有功潮流过负荷随机变量的期望值和标准差构建过负荷风险约束，考虑了风险发生概率和严重程度两方面的特征，通过对不确定性信息的概率建模，利用概率直流潮流进行各随机变量的相关计算，实现了控制过负荷风险条件下的输电网优化规划。4提出考虑输电投资收益的多目标输电网规划方法，综合考虑市场参与者对输电投资收益和社会总福利的要求加热管及其对输电网规划的影响。

The paper obtains some conclusions after many theories analysis and empirical tests: Firstly, Volume-price relativity is extensive: total volume or it's change, disassembled volume promoting price movement or it's change all has plus relativity to equilibria price. Secondly, there is unilateralisms Granger casuality in bullmarket, while there is bidirectional Granger casuality in bearmarket. There is not nonlinear Granger casuality in both markets. Third, Behavior finance has remarkable effects after contrasting to different investment conditions. Moreover, causality research by moving tendency can reflect the stable relation while usual causality research can't do. Fourth, it can be ture forecasing key period of tendency reversion by building volume-price elasticity coefficient containing composite information of volume-price and analysis methods of moving tendency.

本文大量的理论分析和实证研究得到以下结果：第一，量价之间的相关性具有广泛性，总成交量及变化、分解的促进股价变化的成交量及变化都与均衡价格收益有正相关关系；第二，在牛市中，收益和成交量之间存在单向的Granger因果关系，而在熊市中，收益和成交量之间存在双向的Granger因果关系，不论熊市和牛市，上证和深证量价间均没有非线性因果关系；第三，不同市场环境的比较中还发现行为金融在股市中的作用明显，通过比较发现依据运行趋势的因果关系分析能反映量价间的稳定关系，而常规因果分析方法却反映不出来；第四，通过建立包含量价信息的量价弹性系数指标和依据运行趋势的关键区域研究法，可以实现对趋势转变关键区域的预测。

And for the firms suffered from financial distress, shareholders still prefer ＂self-lending＂ to other debts, thus tacking ordinary debtees and making them accept reorganization arrangement.

通过债务性资本与替权益性资本的替换，股东总能够获得套利收益，但同时也损害了普通债权人和政府的收益，因而受到法律的限制。

""Gross Revenues" means the aggregate of all revenues of any nature derived directly or indirectly from the use, occupation or operation of the Facility, including but not limited to green fees, gross sales proceeds from the sale of and transfer of memberships to the Facility, monthly dues from members of the Facility, Deemed Revenue, rental fees for golf carts, golf clubs and other rental items, net proceeds from lesson fees, range ball fees, net golf academy fees, food and beverage sales (excluding sales of alcoholic beverages), revenue generated from space rentals and from meetings, banquets, parties, receptions, tournaments and other group gatherings, merchandise, clothing and equipment sales, rental or other payments from lessees and sublessees of space in the Facility, the proceeds of business interruption or similar insurance and the Residential Levy but excluding Excluded Revenue;.

&总营业收益&意谓从高尔夫设施的使用、占用期或经营中直接或间接得到的各种性质的收入总和，包括绿化费用收入、销售收益及将高尔夫设施的会员资格转让的销售总额收入、高尔夫设施会员的每月会员费、信用收入、租用高尔夫车、高尔夫俱乐部以及其他的租借费收入、授课的纯收入、range ball 收费、高尔夫学院纯收入、食品饮料销售收入、场地，会议，宴会，招待，邀请及其他团体聚会收入、商品，服装及设备销售收入、高尔夫设施场地的承租人及转租人租借或支付得到的收入、经营中断或类似保险收入、除额外收入外的住宅征收收入等。

As an itinerary can involve to multiple resources, when making the seat inventory control decisions, focusing on an individual flight leg does not guarantee that the total revenue will be maximize across the entire network.

跨航段的起讫点需求牵涉到资源的共享，所以在决定最适舱位配置时，若只针对单一个航段来考量并无法保证能使整个网路之总收益最大。

Fines for convicted counterfeiters were also raised, to range from one to 15 times the illegal earnings, or from 50 to 200 percent of the business turnover.

对销售盗版光碟者的罚款也增加了，可以处以非法所得的一至十五倍的罚款，或扣除总收益的50%至200

Develop the appropriate accounting policies, treatments and procedures for CLP China-invested joint venture with reference to the Company's policies and procedures, Government promulgations, tax department regulations and PRC and international accounting practices.

公司年度总收益达210亿美元，提供给雇主整个雇佣生命周期和经济周期的一系列服务，包括人才推荐服务、临时和合同派遣服务、员工测评和筛选服务、培训服务、转职推荐服务、外包服务和咨询服务等。

The absorption and distribution of chromium were studied in ryeusing nutrient culture technique and pot experiment.

采用不同浓度K2CrO4(0，0.4，0.8和1.2 mmol/L)的Hoagland营养液处理黑麦幼苗，测定铬在黑麦体内的亚细胞分布、铬化学形态及不同部位的积累。

By analyzing theory foundation of mathematical morphology in the digital image processing, researching morphology arithmetic of the binary Image, discussing two basic forms for the least structure element: dilation and erosion.

通过分析数学形态学在图像中的理论基础，研究二值图像的形态分析算法，探讨最小结构元素的两种基本形态：膨胀和腐蚀；分析了数学形态学复杂算法的基本原理，把数学形态学的部分并行处理理念引入到家实际应用中。