流动偏好

In the end, there is a brief conclusion . The conclusion of this passage mainly includes: The listed companies have obvious preference for stock right financing, and the financing order is stock right financing, the short-term debt, endogenous financing, the long-term debt, which differs from that of western countries; Financing structure is characterized by comparatively lower asset-liability rate, higher floating debt and lower long-term debt; The governance structure is irrational, and the shareholders" meeting perform practically no function. In the meanwhile, board of director structure is unreasonable, which is highly coincident with the manager layer. Board of supervisors" independent character is poor, while manager layer is lacking in restraints and supervision; The interdynamic

本文的结论：上市公司有明显的股权融资偏好，融资顺序为股权融资、短期负债、内源融资、长期负债，这与西方国家上市公司的融资顺序不同；融资结构具有资产负债率相对较低，流动负债偏高、长期负债偏低的特征；治理结构不合理，股东大会形同虚设、董事会结构不合理、董事会与经理层高度重合、监事会独立性不强、经理层缺乏约束与监督；治理结构与融资策略选择的互动关系不强；独立董事比例与资产负债率正相关，工业、公用事业与资产负债率负相关，商业与流动负债率正相关，第一大股东持股比例与流动负债率负相关，第一大股东持股比例与长期负债率正相关，执行董事比例、工业、商业与长期负债率负相关。

In China,Dual economic structure results in Capital Liquidity Preference which accelerates the rural fund outflow.

在中国，"二元经济结构"导致资本发生流动偏好，资本流动偏好又加快农村资金外流的规模与速度。

According to the theory of liquidity preference, the interest rate adjusts to balance the supply and demand for money.

根据流动偏好理论，利率调整使货币供给和货币需求均衡。

Breath, muscle contraction of the buttocks; arch body, as far as possible to hold his head, right leg straight towards the ceiling (peg-leg knee in order to avoid muscle tension).

呼气，收缩臀部肌肉；拱起身体，尽量抬起头来，右腿伸直朝向天花板（膝微屈，以避免肌肉紧张）。

The cost of moving grain food products was unchanged from May, but year over year are up 8%.

粮食产品的运输费用与5月份相比没有变化，但却比去年同期高8％。