股东权益

COMPOSITE CORPORATION Balance Sheet 20X1- 20X2 (in $ millions) Assets Current assets: Cash and equivalents Accounts receivable Inventories Other Total current assets 20X2 $140 294 269 58 $761 20X1 $107 270 280 50 $707 Liabilities and Stockholder's Equity Current Liabilities: Accounts payable Notes payable Accrued expenses Total current liabilities 20X2 20X1 Fixed assets: Property, plant, and equipment $1,423 $1,274 -550 -460 Less accumulated depreciation Net property, plant, and equipment 873 814 Intangible assets and other 245 221 Total fixed assets $1,118 $1,035 $213 $197 The assets are listed in order 50 53 by the length of time it223 205 normally would take a$486 $455 firm Long-term liabilities: with ongoing operations to $104 Deferred taxes $117 Long-term debt 458 convert them into cash.471 $562 Total long-term liabilities $588 Stockholder's equity: Preferred stock $39 $39 Common stock ($1 per value) 55 32 Capital surplus 347 327 Accumulated retained earnings 390 347 Less treasury stock -26 -20 Total equity $805 $725 Total liabilities and stockholder's equity $1,879 $1,742 Clearly, cash is much more liquid than property, plant and equipment.

Total assets $1，879 $1，742 美国联合公司的资产负债表美国联合公司资产负债表 20X2 和20X1 (单位：百万单位：单位百万)资产流动资产：现金及现金等价物应收帐款存货其它流动资产合计固定资产：财产，厂房和设备减：累计折旧财产，厂房及设备净值无形资产及其它资产固定资产合计 20X2 $140 294 269 58 $761 20X1 $107 270 280 50 $707 债务负债债务和股东权益债务流动负债： 20X2 20X1 资产排列的顺序是根据在通$213 $197 应付帐款 50 53 应付票据常情况下企业持续经营将资205 223 应计费用$486 $455 流动负债合计产转化为现金所需要的时间长期负债：长度。长度。显然，现金比财产，厂房，显然，现金比财产，厂房，设备等的流动性要强得多。设备等的流动性要强得多。

How to solve these problems becomes the main subject of jurisconsult.

如何在上市公司中保护中小股东权益，成为中小股东和法学研究者共同关注的问题。

Shareholders' equity normally excludes intangible assets such as goodwill and is calculated by deducting total liabilities and in tangibles from total assets.

股东的股权通常不包括无形资产，计算股东权益时要在总资产中减去总负债和无形资产部分。

When treasury stock is purchased, the corporation is eliminating part of its stockholders' equity

在购入库藏股票时，公司通过给一个或多个股东支付现金来减少其股东权益。

Through the analysis of the cause of commission,get the result that capital cost accounting not only make stockowner's benefit get correct accout ,but also accout the benefit of human power capital owner indirectly,and these should solve the problem of commission efficiently.

通过对委托代理问题产生原因的分析，认为资本成本会计不仅使得股东权益得到准确计量，而且也间接计量了人力资本所有者权益，将有效地解决委托代理问题。

End of the day, now 9神力Group shareholders, Aokang Group, TELI industrial, real estate Guoguang, Yaohua Electric Appliance, ocean glasses, Star Industry, Xinya investment Fapai Group's chairman had formed a consensus - China and Switzerland are the main areas of "national key construction projects, corporate restructuring and mergers and acquisitions in the restructuring Convertible", were "extensively gathering and utilizing the Chinese large-scale private capital", as people from various professions, in order to avoid a conflict of interest that China and Sweden's nine shareholders equity sharing.

一天结束的时候，现在9神力集团股东，奥康集团，泰力工业，房地产刘国光，耀华电器，远洋眼镜，明星产业，新雅投资法派集团的主席已形成了一个共识-中国和瑞士的主要地区的&国家重点建设项目，企业重组，兼并和收购的重组转换&，是&广泛收集和利用中的大型私人资本&，因为来自不同行业，以避免利益冲突认为中国和瑞典的九个股东权益共享。

Numerical solutions show that stockholders choose to exercise the investment option too early compared to the unleveled enterprise. Compared with value-maximizing policy, stockholders are inclined to overinvestment under the equity-maximizing investment policy, which affects the investment option value and optimal leverage choice, and does harm to the interests of bondholders. When debt constrained, the enterprise decreases the investment trigger first, and then increases it as constraints become more binding.

数值计算显示，与无负债企业相比，杠杆企业具有过度投资倾向以加快实现负债融资所带来的利息税盾价值；与企业价值最大化策略相比，在股东权益最大化目标下，股东具有较早执行投资期权的动机，影响投资期权价值和最优财务杠杆的选择，并侵害了债权人的利益。

Especially in the respect of corporation managing construction, there are some outstanding flaws such as stockers reigning mainly control the directorate, therefore the little stockers" rights and interests can"t be protected; directorate lacks of independence, therefore the rights, responsibility and interests are inconsistent with each other; the function of supervising board has been weakened; the problem of inner person controlling is serious; the system restriction of domestic capital market has been weakened ,etc.

尤其是在公司法人治理结构方面，存在着—些比较突出的缺陷，诸如控股股东操纵董事会，中小股东权益得不到保障；董事会缺乏独立性，董事权责利不—致；监事会功能弱化；内部人控制问题严重；国内现有资本市场的制度约束弱化等。

Under the inspection of legislation of various countries and places, they mainly construct the voting system with exclude the voting right, limit the majority voting right, cumulative voting system and voting right agency to revise the capital majority rule dissimilation and protect middle and small shareholders.

考察世界各国家和地区的立法例，主要通过股东表决权排除制度、对多数表决权进行必要限制的制度、累积投票制度和委托投票制度几种表决权制度的构筑，修正资本多数决异化，保护中小股东权益。

Minority shareholders ; shareholders' benefits ; cumulative voting ; voting trust

中小股东；股东权益；累积投票原则；表决权信托制

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