股东产权

The chapter describes the state owned commercial bank current situation, the key issues faced, pointing out the shortage of property right system, management system, organization system, badness assets and capital abundance ratio, etc., drawing the conclusion that the stock systematic reform is the outlet of state owned commercial bank reform.

在股份制具体形式的选择上，通过对两类股份制公司形式的比较，论证股份有限公司制是国有商业银行股份制改革的最佳模式，并认为在组织形式上应由总分行制改为集团公司制；在产权结构上，探讨了只有建立现代商业银行制度，才能真正实现国有商业银行的产权清晰、权责明确、政企分开、管理科学；在公司治理模式上，强调建立真正的法人治理结构，较为详细地介绍了国有商业银行的股东大会、董事会、监事会等组织结构框架及作用；最后探讨了国有商业银行股份制改革需要注意的几个问题及风险防范。

With the controlling shareholders share the same trademark brands, large advertising expenses from the controlling shareholder of expenditure And the controlling shareholder with a brand share of listed companies is almost a common problem, some property owned by the controlling shareholders, some property owned by the listed companies, the controlling shareholder owned property rights in the circumstances, the listed companies only pay a small fee to use, and the brand Promotion of large fees from the controlling shareholder of expenditure, not to share listed companies, listed companies inflated the profits.

五、与控股股东共用同一个商标品牌，大量广告宣传费开支由控股股东开支与控股股东共享用一个品牌几乎是上市公司的一个通病，有的是由控股股东拥有产权，有的由上市公司拥有产权，在控股股东拥有产权的情况下，上市公司只需支付少许使用费用，而品牌宣传的大额费用由控股股东开支，而未让上市公司分摊，虚增了上市公司的利润。

Show mainly in government leadenness, the high concentration of property right and internal manual operated system level high, little shareholder property right lack effective protect wait for some aspects.

主要表现在政府主导性、产权高度集中、内部人控制程度高、小股东产权缺乏有效保护等几个方面。

If the investors have the sense of property right of cost of capital, they will ask the company to keep the same risk-return of the primary share -holders when re-financing, thus resulting in the preference of debt financing or the preference of share financing.

如果投资者具有资本成本产权意识，就会要求公司在再融资时必须保证原有股东的风险回报不变，从而出现债权融资偏好。反之，就会出现股权融资偏好。

Great majority Special Farmers" Cooperation set up by relying on the ability person , group leader business enterprise, or farming technology section, forming the property structure with differences, Hebei province is also the same, with the performance of the higher store capitalization concentration degree, appearing the difference between the big shareholder society member and small shareholder society member, the core society member and non-nuclear heart society member, the investor society member and manufacturer"s society member. the existence of advantage stock is the actual controller in co-operative societies, the surplus of the co-operative societies incline toward advantage shareholder, the Share Capital dividends is comparison far from the sum return according to trade return, Ministry of Finance funds nation the public finance prop up a funds and bring of the income is also basic for the big shareholder of the school store income.

合作社产权结构的同质性是合作社实现成员民主管理、资本报酬有限、盈余按惠顾额返还的基础，而河北省农村现阶段经济社会条件是资本和具有企业家素质的人才相对于劳动是稀缺的生产要素，绝大多数农民专业合作社都是依托能人大户、龙头企业、或农技部门组建，形成了农民专业合作社异质性的产权结构，表现为合作社股金集中度普遍较高，社员中出现大股东社员和小股东社员，核心社员和非核心社员，投资者社员和生产者社员的差别，合作社中的优势股为农民专业合作社的实际控制者，农民专业合作社的利益分配自然倾向于优势股东，按股分红的比例远高于按交易额返还的比例，国家财政扶植资金及带来的收益也基本为合作社的大股东所得。

The measures are as follows: improve the property diversification and enhance the effectiveness of structure governance; improve the incentive mechanism among enterprisers and cultivate a group of professional enterprisers; build up and improve all sorts of external market mechanism; strengthen the function of the board in enterprise; reinforce the authority of the supervision council; strengthen the administrative supervision; improve the system to better supervise the managers of listed companies; set up the system of shareholder representatives procedures; establish culture of the enterprise governance.

通过借鉴目前三种典型的国外公司治理模式，对我国国有企业的公司治理结构进行了实证分析，研究了我国国有资产监督管理的机制与公司治理结构，并提出了完善我国国有企业产权多元化治理结构的若干措施，包括：促进产权多元化，提高治理结构的有效性；增强董事会的功能；强化监事会权威；完善企业家激励机制，培育一支职业经理人队伍；建立和完善外部市场机制；加强行政监督力度；完善对上市公司经营者的监督体系；设立股东代表诉讼制度；建立公司治理文化等。

The object of intangible assets contribution is elucidated by comparing some undistinguishable concepts including between stock right and net asset, labor services and human capital, credit and commercial reputation, creditors rights and rights of transfer credit to stock, intellectual property rights and industrial property rights. Finally, the correlative relation on quantity of the contribution byshareholders is discussed systematically with the legislation and precedent.

无形财产出资之标的物的内容中有很多容易引起混淆的概念，文中将重点对其进行对比分析，如股权出资与净资产出资、劳务出资和人力资本出资、信用出资和商誉出资、债权出资及债转股、知识产权出资和工业产权出资；(3)结合立法和有关案例系统阐述股东出资的相关数量关系。

Firstly, this paper discussed the principle and agent theory, the corporate governance theory and supervision theory. Second, the paper analyzed special several-levels principle-agent relations of the state-owned enterprise, and used the principle -agent theory and the game theory to analyze several problems caused by this, such as the supervision function avianization about the owner, the enterpriser"s rent-seeking activity, the enterpriser"s conspiracy behavior and the insider control. Thirdly, the paper discussed the present situation of the supervision and restraint system from the management model of the three-levels authorization, financial general supervision system, the corporate governance and the outsider supervision and restraint system. The paper thought that the supervision and restraint system had the following problems: supervision and restraint system was imperfect, the property right restraint was lack, the restraint system was administrative and the supervision system was deformity.

本文首先讨论了经营者监督约束机制的委托代理理论、公司治理理论和监督理论：其次，深入分析了国有企业特殊的多级委托代理关系，并用博弈理论及委托代理理论分析了由此产生的各种问题，如所有者监督职能弱化、国有企业经营者的寻租行为、国企经营者合谋及内部人控制等；再次，本文从三级授权经营模式、财务总监制、公司治理结构及经营者外部监督约束等方面研究了我国经营者监督约束机制的现状，本文认为国有企业经营者的监督与约束存在以下问题：国有股份多级代理与监督约束弱化；国家股东对国企经营者缺乏产权约束，监督约束机制不完善；国有股份高度集中与监督约束的行政化；监督约束机制单一化与监督约束畸形化。

The capital assets of independent college come from various approaches including shareholder investment, social collection, school raising, special fund and enterprise imbursement, which can achieve value preservation and increment through the mechanisms of property right combination stock and share holding, capital operation marketing and logistics operation socialization.

独立学院固定资产来自股东投资、社会集资、学校筹资、职教专项和企业资助等多元渠道，并通过产权组合股份化、资金运作市场化和后勤保障社会化等运行机制实现保值增值。

Property rights sometimes refer to an integrated property system, which is composed of a bunch of droits; sometimes to a single property right.

如股份有限公司股东的所有权就体现为股权，股权又可派生出股票转让权、股利分配权、剩余资产索取权等，这些都是股东的产权。

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