股东

The goal of the firm is maximization of shareholder wealth.

企业的目标是使股东财富最大化。

What is the German/Japanese alternative to stockholder wealth maximization and does it work?

什麼是德国/日本的替代，以股东财富最大化和它的工作呢？

A: My goal is to maximize shareholder value.

答：我的目标是使股东价值最大化。

Alan Greenspan has offered a mea culpa, saying he made a "mistake" believing that banks, operating out of self interest, would protect their shareholders and institutions.

艾伦·格林斯潘道歉了，称他犯了一个"错误"，居然相信以自我利益为运作目标的银行会保护其股东和机制。

This thesis is meanly to focus on the shareholder's information right of a company limited by shares.

本论文旨在探讨股份有限公司下的股东资讯权保障。

That happens because the acquirer typically gives up more intrinsic value than it receives. Do that enough, says John Medlin, the retired head of Wachovia Corp., and "you are running a chain letter in reverse." Over time, the skill with which a company's managers allocate capital has an enormous impact on the enterprise's value. Almost by definition, a really good business generates far more money than it can use internally. The company could, of course, distribute the money to shareholders by way of dividends or share repurchases.

就长期而言，公司经理然滥用公司资金将会对企业的价值有很大的影响，我们认为一家好公司所能贡献出的现金，一定会超过其本身内部所需，而公司当然可以透过分配股利或买回股份的方式回馈给股东，但是通常企业的 CEO 会要求公司策略企划部门，顾问或是投资银行，做出购并一，两家公司的必要性报告，这样的做法就好象是问你的室内设计师，你是否应该增添一条五万美元的地毯。

The sad fact is that most major acquisitions display an egregious imbalance: They are a bonanza for the shareholders of the acquiree; they increase the income and status of the acquirer's management; and they are a honey pot for the investment bankers and other professionals on both sides. But, alas, they usually reduce the wealth of the acquirer's shareholders, often to a substantial extent. That happens because the acquirer typically gives up more intrinsic value than it receives. Do that enough, says John Medlin, the retired head of Wachovia Corp., and you are running a chain letter in reverse.

很遗憾的是，大部分的购并交易案都充满了不公平性，对于被购并方来说，算是得到解脱，购并一方的管理阶层则名利双收，旁边的投资银行家与专业顾问也都能跟着大捞一笔，只不过真正受害的却是购并方背后全体的股东，他们损失惨重，原因在于购并公司最后所得到的实质价值通常远比得到的低，就像是Wachovia公司已退休的领导人John Medlin说，这种事做太多，就好象是在倒写连锁信一样。

Meanwhile, those that have bought investment banks are not all finding it easy to meld the cultures.

同时，那些持有投资银行股份的股东们认为投资银行和商业银行的文化很难融合。

With respect to this company control a partner gentleman of Han Li person Merle A.

就该公司的控股股东韩礼士先生Merle A。

And he got the Merrill Lynch shareholders as good a deal as they would ever get.

他使美林的股东拿到了他们能拿到的最好的交易。

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。