股

How to establish a practical working process of ESOP and its contents for the enterprise prepares to use ESOP?

如何设计一个职工持股计划的操作程序和内容，提供给准备运行职工持股计划的中国企业？

This paper consists of four parts: 1.Introductions of concept of ESOP, development status of overseas and China.

围绕以上论点，本文主要从以下方面展开论述：1、员工持股计划的概念、发展状况及我国员工持股计划状况分析。

According to the original Haitong Securities and Urban 1:0.347 of convertible shares calculated on a proportional basis, the limited sale of shares after the ex-dividend costs only 1.44 yuan/share around.

按照原来的海通证券和城市按比例计算的可兑换股1：0.347，有限的股份出售后，除权价只是1.44元/股左右。

Another analyst said that according to the original Haitong Securities and Urban 1:0.347 of convertible shares in a pro-rata basis, the third limit the sale of shares after the ex-dividend costs only 1.44 yuan/share around .

另一位分析师说，根据原来的海通证券与都市股份的换股比例1：0.347的比例的基础上，第三次限制出售股份后，除权价只是1.44元/股左右。

Chapter 2 and 3 has analysed some finacial difficulties that Assestment Management Corporation and Debt-to-Equity Enterprise will have come up against, while reforming. Then, we put forward if they want to win , they should do reform their finace.

第二、三章以新制度经济学的企业理论为基础，运用定性分析与定量分析相结合的实证研究方法，分析了金融资产管理公司、债转股企业在债转股改革中将会遇到的财务问题，提出了它们如何进行财务改革，才能达到"双赢"的目的。

BYD is Warren Buffett investment of 13 gold stocks, the market value in 2009 soared five-fold over the previous year.

而比亚迪是股神巴菲特投资的13只黄金股之一，2009年市值比前一年暴涨5倍。

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。

I tried to put a floppy drive from my old unit into my new unit.

我试图把我从一个软盘驱动股成为我国新旧股。

Oil flows out of the current shares is 4,000,000,000 shares.

油流出流通股为4，000，000，000股。

The repurchase will be conducted in two phases, the first phase of the shareholders from the date of entry into force of the General Assembly resolution a month to repurchase not more than 1000 million shares of the public; the second phase of the General Assembly authorize the Board of Directors by the shareholders within six months in accordance with market conditions do not intend to buy back more than 1000 million shares of the public.

回购将分两期进行，该股东从到大会决议生效之日起1个月的第一阶段回购不超过1000万社会公众股，在大会授权的第二阶段董事会由股东根据市场情况按6个月内不打算购回1000多万社会公众股。

Neither the killing of Mr Zarqawi nor any breakthrough on the political front will stop the insurgency and the fratricidal murders in their tracks.

在对危险的南部地区访问时，他斥责什叶派民兵领导人对中央集权的挑衅行为。

In fact,I've got him on the satellite mobile right now.

实际上 我们已接通卫星可视电话了