折价

The consolidated price differentials born from the offset between financial cost and investing yield is an affirmance of the deferred income or deferred expense in current period.

内部债权投资与应付债券相互抵消后产生的合并价差实际上是母子公司各自会计报表上确认的溢价和折价之和。

After analyzing two methods of accounting for premium and discount amortization of bond with simple interest and compound interest, the straight method, or in fact, the interest method , is proposed.

对不同计息环境下债券溢折价摊销方法进行了分析，得出了直线法也是一种实际利率法的结论。就我国目前情况来看，直线法是长期投资溢折价摊销更为适宜的方法，可用来处理所有应收和应付利息的摊销

Day-to-day fund is used to share the cost of more than calculated net asset value, that is, based on historical costs and amortization of bond premium and discount valuation.

每天日常基金用于分享超过净资产价值计算成本，即在历史成本和债券溢价和折价摊销的估价。

At the end of each year, Solarwind Corporation will make the following adjusting entry to amortize the bond discount

在每年末，太阳同风公司将作如下的调整分录，以摊销债券折价…

These differences are called premium and discount, respectively, for par value stock. however, shares are rarely issued at a discount.

对有面值的股票来说，这些差额分别称为溢价和折价，但股份很少折价发行。

In the part of empirical analysis of Chinese IPO first-day return, the difference between existing study and this study is that we use principal components analysis to extract from five factors to construct investors'sentiment index, add it to controled varibles, on which we examine the influence of offering mechanism on IPO first-day return. Moreover, we gather statistics and compare the IPO holding return for lockup period between fixed-price-class offering method and bookbuilding-class offering method, as well as price range between Chinese A-share market and Hongkong stock market, which prvide comprehensive evidence to appraise Chinese IPO bookbuilding mechanism. 2. Compare to the existing literatures which consider discount or allocation, incentive allocation and discount are considered at the same time in optimal mechanism design in this dissertation, and the offering bottom price is introduced to the price range. We investigate the relationship between price range and allocation quantity, and obtain the optimal price range and allocation strategy so that the advantages of independent allocation are reflected. On the other hand, the disadvantages of independent allocation are reflected in the manipulation in case of no restriction on IPO allocation. To distinguish from the existing literatures, bookbuilding mechanism is introduced to the model. We study the allocation strategy adopted by the underwriter in the pooling equilibrium of manipulation. In addition, we analyze the incentive compatibility conditions to which the existence of pooling equilibrium should satisfy and examine some factors'impact on the existence of manipulation.3. In bookbuilding without independent IPO allocation, Chinese realistic IPO background is considered and the condition of bookbuilding and fixed-price hybrid offering is added. Divide bookbuilding and fixed-price hybrid offering into sequential hybrid and simultaneous hybrid, and point out that the key points of subscription strategy in the two kinds of hybrid are different. Through modeling and simulation we obtain the impact of institutional investors'subscription strategy on bookbuilding without independent IPO allocation, which fill the gap in related research. Moreover, in the part of IPO bookbuilding with over-allotment option, the pricing strategy is divided into hot-IPO strategy and weak-IPO strategy. Take into account the procedure of Chinese IPO with over-allotment option, it presents how the underwriter determines the pricing strategy and what effect it brings to offering price and issue size through modeling and simulation. Therefore, it is instructive as a complement to existing literatures.

此外，对我国A股市场询价发行方式与固定价格发行方式下的IPO锁定期到期时持有收益率、以及我国A股市场与香港市场的询价发行价格区间进行了统计比较，为评价我国IPO市场的询价发行提供了比较全面的依据。2、相比已有文献仅考虑折价和分配中的一种激励措施，本论文在有自主配售权下的机制设计中并用了分配与折价两种激励措施，并且在价格区间的制定中引入发行底价，考察了价格区间与分配量之间的关系，得到最优的价格区间和分配策略，从中体现自主分配权的优点；在有自主分配权下的操纵行为研究中则体现了自主配售权的弊端，与已有文献不同的是，在模型中引入了累计投标询价机制，研究了承销商在混同均衡操纵中采取的分配策略，并对操纵存在的条件进行分析讨论，得出各个因素对混同均衡操纵存在的影响。3、在无自主分配权下的询价发行中，充分考虑了我国实际应用的背景，加入了与固定价格发售混合的条件，并将询价与固定价格混合发行分为序贯与同步两种方式，指出机构投资者在两种情况下申购策略的侧重点各有不同，通过对序贯混合发行方式下的网下累计投标策略以及同步混合发行方式下的资金分配策略的模型建立和数值仿真，考察了机构投资者申购策略对无自主分配权下的询价发行的影响，填补了相关研究文献的空白；在包含超额配售选择权的询价发行中，将发行定价策略分为热销策略和弱销策略，在考虑了我国含超额配售选择权的发行流程下，通过建模以及数值仿真得出承销商会对发行定价策略作出怎样的选取，进而会对新股发行价格、发售数量产生怎样的影响，对目前相关研究的缺乏做出了有益的补充。

This paper mainly studied the price fixing of derivative securities under the random interest rate model which applied stochastic differential equations on the basis of option pricing theory and the model of derivative securities pricing, several majo

在双因子Vasicek随机利率模型下给出了折价债券满足的偏微分方程和债券定价公式，通过分析到期收益率与远期利率的动态变化过程，推导出双因子Vasicek随机利率模型下折价债券买权和卖权的定价。

But he also said that due to the holders of long-term investors, the high折价率very effective.

但他也表示，对长期投资者持有到期，高折价率非常有效。

Teck Cominco also sold 1,800t of QB-R brand non-LME registered SXEW cathodes at a $47/t discount for July shipment and a further 900t for August shipment at a $63/t discount, both basis 1 month pre-payment. A tender for July shipment of 1,500t of "Grace" brand from Mantos de la Luna mine in Tocopilla attracted a discount of $28/t at the beginning of the month, while an additional 800t lot was sold at a $10/t discount late last week.

Teck Cominco公司还以47美元/吨的折价升水出售了1，800吨QB-R牌非LME注册SXEW电解铜（7月份装船），以63美元/吨的折价升水进一步出售了900吨同类电解铜（8月份装船），两批铜的支付方式都是提前一个月支付。7月初，Tocopilla地区Mantos de la Luna矿生产的1，500吨7月份装船的Grace牌电解铜以28美元/吨的折价升水中标，但上周末出售的800吨铜以10美元/吨的折价升水中标。

These two closed-end fund折价率in the second half of 2008 has been 8% to 15% of the range of fluctuation.

关闭这两个在2008年下半年基金的折价率是8％至15％的浮动幅度。

We have no common name for a mime of Sophron or Xenarchus and a Socratic Conversation; and we should still be without one even if the imitation in the two instances were in trimeters or elegiacs or some other kind of verse--though it is the way with people to tack on 'poet' to the name of a metre, and talk of elegiac-poets and epic-poets, thinking that they call them poets not by reason of the imitative nature of their work, but indiscriminately by reason of the metre they write in.

索夫农 、森那库斯和苏格拉底式的对话采用的模仿没有一个公共的名称；三音步诗、挽歌体或其他类型的诗的模仿也没有——人们把&诗人&这一名词和格律名称结合到一起，称之为挽歌体诗人或者史诗诗人，他们被称为诗人，似乎只是因为遵守格律写作，而非他们作品的模仿本质。

The relationship between communicative competence and grammar teaching should be that of the ends and the means.

交际能力和语法的关系应该是目标与途径的关系。