有资本

Extensive and profound research has been conducted into the relationship between events of change in capital structure, such as stock issuance, bond issuance and debt-equity swap, and corporate value in the West.

西方对发行股票、发行债券和债－股互换等资本结构变化事件与公司价值之间的关系进行了广泛而深入的研究，尽管对不同资本结构变化事件引起的股价反应有不尽相同的理论解释，但几乎都与公司负债率变化引起的税收效应、财富转移效应和信息效应有关。

When a country experiences capital flight, what is the effect on its interest rate and exchange rate?

什么是资本外逃？当发生资本外逃时，对利率和汇率有何影响？

Modern joint-stock enterprises as a form of capital organization, to ownership and management rights, the separation, conducive to improving the operation and efficiency of capital for China's reform of state-owned enterprises is an important reference.

股份制作为现代企业的一种资本组织形式，有利于所有权和经营权的分离，有利于提高企业和资本的运作效率，对我国国有企业改革有重要的借鉴意义。

This text is exactly the route that attempts to explain the system changes of family firm in terms of theory of the modern agreement, utilize a series of mathematics models to strengthen the convincingness of the theory, thus achieve the goal of analyzing. After analyzing the agreement nature of the family firm. Drove through theory identification and mathematics and physics

在分析了家族企业的契约性质后，重点通过理论证明以及数理模型说明家族企业作为一个不完全契约需要建立一种有外部人力资本参与的新的企业契约，更进一步的分析引入外部人力资本后家族企业契约性质的变化及由此导致的家族企业发展的新困境，并提出建立一般性关系型激励契约以及报酬契约是克服家族企业发展障碍的现实有效选择。

There is everything sensible and nothing new in the idea that capital has an implicit cost -- an opportunity cost -- and that it is the return on capital that matters. You would rather deploy $1 million in a project likely to earn 20% than invest a larger sum and make 6%. But total profit also counts. So if you could invest a lot more and still expect, say, 18%, you would do it. If companies hire Stern Stewart to rebottle this old wine, no one is much the worse.

一切有理智和在没有新的观念，资本有一个隐含的成本-机会成本-这是资本回报率的事项，你宁愿部署一百万元的一个项目，可能获得20 ％，比投资更大的总结，并作出了6％，但利润总额也算数的，所以如果你可以投入大量越来越仍预期，也就是说， 18 ％，你会做，如果公司聘请斯特恩斯图尔特以rebottle这个旧酒，没有一个是多坏。

Through analyzing the three sorts of corporation capital systems , the author considers that the strict legal capital system has its own limitation and should be reformed .

本文通过对三种公司资本制度的分析，认为我国现阶段实行的严格的法定资本制有其局限性，有必要改革。

Human capital investment starts to become enterprises' recurrent expenditure. However, risks will be always with investment.

然而，有投资就会有风险，企业人力资本投资不同于一般投资的特性，又使得企业人力资本投资具有更大的风险。

I was in some Degree settled in my Measures for carrying on the Plantation, before my kind Friend the Captain of the Ship that tool: me up at Sea, went back; for the Ship remained there in providing his Loading, and preparing for his Voyage, near three Months, when telling him what little Stock I had left behind me in London, he gave me this friendly and sincere Advice, Seignior Inglese says he, for so he always called me, if you will give me Letters, band a Procuration here in Form to me, with Orders to the Person who has your Money in London, to send your Effects to Lisbon, to such Persons as I shall direct and in such Goods as are proper for this Country, I will bring you the Produce of them, God willing, at my Return; but since human Affairs are all subject to Changes and Disasters, I would have you give Orders but for One Hundred Pounds Sterl.

当我经营种植园的计划稍有眉目时，我的朋友，就是在海上救我的船长，又回来了。这次他的船是停在这儿装货的，货装完后再出航，航程将持续三个月左右。我告诉他，我在伦敦还有一笔小小的资本；他给了我一个友好而又诚恳的建议。"英国先生，"他说，他一直这么叫我的，你写封信，再给我一份正式委托书请那位在伦敦替你保管存款的人把钱汇到里斯本，交给我所指定的人，再用那笔钱办一些这儿有用的货物。我回来时，如果上帝保佑，就可替你一起运来。可是，天有不测风云，人有旦夕祸福，我建议你动用你一半的资本，也就是一百英镑，冒一下险。

Due to the better developing foreground, interal and overseas capital enter giant merchadise store industry thirstily, including the world-level retail enterprise such as wal-mart of USA、 carrefour of France and capital of other industry, especially, according to the commitment of entering WTO, china should disengage all kinds of handicaps of foreign retail capital entering Chinese retail industry at the end of 2004, giant merchadise store has reached a brand-new developing phase, and competitive vacancy is spreading to prefecture-level cities and county-level cities which economy is more developed.

由于大型超市良好的发展前景，中外各种资本纷纷涉足这一行业，既有世界级零售企业如美国的沃尔玛、法国的家乐福等，也有其他行业的资本，特别是中国在2004年底根据入世承诺基本取消对外资进入国内零售行业的各种限制后，大型超市行业进入了全新的发展阶段，竞争空间正在向经济较发达的地市级和发达县市级城市延伸。

The super mart, as a new type of business mode in China, is accepted by the city customers for its full variety of daily consumables, that the consumers can complete the buying list in one stop. In east area of China, the super marts are replacing the department stores, and becoming the main retailing trading mode. For the prospect of super mart and the potential consumables market in China, the investment both domestic and abroad is involving in this section, such as Wal Mart, Carriford. Since the end of 2004 when China government has execute the promise to cancel limits to foreign direct investment, the development of super mart has entering new stage, where the competition is extending into more developed area of medium cities and towns of counties.

大型超市作为一种新型的零售业态，由于能够提供种类齐全的日常生活用品，满足顾客&一次购齐&的消费需求，因而得到城市居民的广泛认可，在经济较发达的东部地区发展迅速，正逐步取代百货商店成为零售行业的主力业态，由于大型超市良好的发展前景，以及中国作为最大消费品市场的强大诱惑，中外各种资本纷纷涉足这一行业，既有世界级零售企业如美国的沃尔玛、法国的家乐福等，也有其他行业的资本，特别是中国在2004年底根据入世承诺基本取消对外资进入国内零售行业的各种限制后，大型超市行业进入了全新的发展阶段，竞争空间正在向经济较发达的地市级和发达县市级城市延伸。

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。