经理人

It is under the leadership of Gansu Commercial affaire department, and is supervised by Gansu Ministry of Civil Administration.

甘肃省职业经理人协会是由省内有影响力的领导、专家学者和知名企业家及职业经理人共同发起组成的民间社团组织。

Firstly, we hypothesize that the stocks of funds with net outflow will have a higher herding measure when the fund manager is concerned with his reputation risk (Scharfstein and Stein, 1990), and have a lower herding measure when he engages in gaming the incentive scheme derived from the asymmetric performance-flow relation. The results support the reputation-risk hypothesis.

首先，针对前期流量与基金群集指标的关系，本研究推论：如果经理人行为符合声誉风险假说(Scharfstein and Stein， 1990)，则前期净流出基金的群集指标会高於前期净流入基金的群集指标；反之，如果经理人行为符合放手一博假说，则净流出基金的群集指标低於净流入基金的群集指标，实证结果符合声誉风险假说。

The clannish inclination of both the enterprise and managing agent has led to lack of mutual trust.

企业和经理人双方的家族主义取向导致双方缺乏相互信任，家族企业在某种程度上的"隐私"经营给企业从外部引入经理人带来风险。

Brian Clough, football manager "I wouldn't say I was the best manager in the business, but I was in the top one."

足球经理布莱恩·克劳："我不敢说自己是业界最顶尖的经理人，但应该不做第二人想。"

The last chapter of this paper discusses the problem of training professional manager and establishing the manger market.

在本文的最后一章，作者对职业经理人的培养和经理人市场的建立做了探讨。

Hedge-fund manager Nathaniel Rothschild has made a $100 million commitment to buy shares, and so has the fund firm run by another hedge-fund manager, John Paulson; Robert Kuok, the Malaysian-born billionaire with holdings in palm oil, sugar, hotels and property, is in for $20 million.

对冲基金经理人洛希尔已承诺投资1亿美元购买股票，另一位对冲基金经理人鲍尔森运营的基金公司做了同样的承诺；马来西亚出生、并在棕榈油、食糖、酒店和地产领域拥有亿万财富的富豪郭鹤年，也准备投资2，000万美元。

We find that,(1) the regional market development influences CG——better institutional environment can improve CG and decrease the agency costs.(2) However, there is no influence for perquisite consumption, the reason for which is the existence of compensation regulation in our stated-owned corporate. The perquisite consumption remedies the low monetary reward and undertakes the recessive motivating effect. This is in accord with Li, Sun and Liu (2005) in which the managers' compensation contracts conform to the superior contracting theory.

经过实证检验我们发现：1、上市公司所处地区的市场化程度较高，那么公司的代理成本相对较低，从而证明了地区的市场化程度确实影响公司的治理结构，好的法律制度环境有利于上市公司治理结构的完善，降低公司的代理成本。2、地区市场化程度的高低对于上市公司经理人的在职消费没有显著的影响，这是因为我国国有企业薪酬管制的存在，在职消费作为低货币性报酬的补偿，承担着隐性激励的作用，这与李增泉、孙铮和刘凤委（working paper，2005）关于我国上市公司经理人的薪酬契约符合最优契约论的研究结论保持一致。

On the basis of this, the system of exchangeable and unexchangeable stock and other environmental issues of finance governance are the comprehensive reason of preference of stock financing of companies in our security market.

在以上分析研究的基础上，本文提出了以下改进建议：建立以大股东治理为主的综合财务治理模式；加强外部股东对内部股东的监管机制；建立经理人持股激励机制；加强经理人的外部约束机制；加强银行对企业的监控力度；建立有效的偿债保障机制；发展企业债券市场；培育机构投资者并创造使他们能有效发挥作用的条件；加强中小投资者法律保护等。

To this, circulate in the market the professional handler that guessing is internationalization nothing more than " natural environment refuses to obey ", or it is native land concern to wait for a reason flimsily between entrepreneur and handler.

对此，市场中流传的猜测不外是国际化的职业经理人&水土不服&，或是本土企业家与经理人之间关系脆弱等原因。

Ben is now 75 and, like Gene Abegg, 81, at Illinois National and Louie Vincenti, 73, at Wesco, continues daily to bring an almost passionately proprietary attitude to the business. This group of top managers must appear to an outsider to be an overreaction on our part to an OEO bulletin on age discrimination. While unorthodox, these relationships have been exceptionally rewarding, both financially and personally. It is a real pleasure to work with managers who enjoy coming to work each morning and, once there, instinctively and unerringly think like owners. We are associated with some of the very best.

Ben今年75岁，但与伊利诺国家银行81岁的Gene Abegg以及Wesco 73岁的Louie Vincenti一样，每天依旧为所领导的企业灌注无比的热情与活力，外界不知情的人还以为我们对于这群杰出的经理人有年龄上的特殊偏好，虽然极不寻常，但这样的关系实在是让我们受益良多，无论是在财务上或精神上都是如此，与这群&乐在其中&并以像老板一样心态每天认真经营公司的专业经理人在一起工作实在是一种享受。

Plunder melds and run with this jewel!

掠夺melds和运行与此宝石！

My dream is to be a crazy growing tree and extend at the edge between the city and the forest.

此刻，也许正是在通往天国的路上，我体验着这白色的晕旋。