融资

Both has the traditional folk to lend money, the bank loan, and has new ways and so on short-term accommodation bill, trust financing; Both has Huang Shih this area financing, and has trans-regional financing.

既有传统的民间借贷、银行贷款，又有新型的短期融资券、信托融资等方式；既有黄石本地区的融资，又有跨地区的融资。

Further, we use return on equity to measure corporate performance and the management expense ratio and the asset turnover ratio to measure agency costs.

我们构建了公司治理指数用来衡量公司治理结构，用自由现金流来衡量债券融资对经理过度消费等行为的约束，用主营业务利润率来衡量公司经营绩效，用管理费用率和资产周转率来衡量公司代理成本，结果显示公司债券融资对公司治理结构、自由现金流和公司绩效影响不显著，但与公司的代理成本为显著正相关，也就是说目前我国公司债券融资还不能发挥债权治理的功能。

They demonstrates the following characteristics obviously:The inside financing is far below than the outside financing;(2) The proportion of stock financing is higher than bond financing in the outside financing;(3) The equity structure is unreasonable;(4) For the level of the current liability is so high, the debt structure is unreasonable also;(5)Take the ration chares as the main resource of long-term capital.

而后，分析我国上市公司融资现状的成因：资本结构理论认为，公司融资方式的选择受到资本成本、融资工具等因素影响外，上市公司的融资问题反映的实际上是我国上市公司在转制建制上的不足，特别未建立高效率的治理结构和有效的治理机制。

It pays most attention to the important problems of financing decision Choice in A Corp., such as analyzing industry background, selecting investing items, estimating financing requirers and avoiding financing risks. We also provide the financial in formations of A Corp. which is helpful for students to analyze these financing cases based on financing decision theory.

案例集中讨论了A公司在做出再融资决策过程中的行业背景分析、投资项目选择、融资必要性分析、融资风险防范等问题，并给出了A公司自身的财务预测信息、购买资产效益预测、投资资产定价等资料，为学生依据财务融资决策理论进行分析提供了可能性。

Meanwhile, equity financing and debt financing play different roles in the corporate governance. The complementarities of diverse financing and the perfection of financial structure can facilitate the firm financing and managerial incentive.

同时本文还认为，股权融资和债务融资在企业治理过程中发挥着不同的作用，融资方式的多样互补性和金融结构的完善有利于企业融资和管理激励。

In ac- cordance with the present situation of the investment and financing on real-estate sector, the writer analyzes the problems of financing channel on bank credit , stocks, bonds, real-estate trust and so on, bringing up the strategy of perfecting our country s real-estate financin.

针对我国房地产业的投资和融资现状，分析我国银行信贷、股票、债券、房地产信托等融资渠道存在问题，在重点评估银行信贷在房地产融资结构中的地位情况下，提出完善我国房地产融资体系的对策

Part B. introduce the types of the financial under letter of credit: pacing loan, export negotiation, draft discount under export letter of credit; quota of issuing letter of credit,, trust receipt, import trust receipt loan, guarantee for picking up goods under import letter of credit; the finance under standby letter of credit.

第二部分概要介绍了信用证项下融资的主要类型：对出口商融资的打包放款、出口押汇、信用证项下的汇票贴现、福费廷等；对进口商融资的开证额度、信托收据、进口押汇、担保提货方式等；另外，介绍了备用信用证融资。

Below single-track mode, the construction financing of passenger transport special railway line has 3 kinds of forms, namely governmental financing, private financing and cooperative financing.

在单线模式下，客运专线的建设融资有三种形式，即政府融资、私人融资和合作融资。

Today we do not seek to impose our vision on others, but we are convinced that certain rights are universal -- not American rights or European rights or rights for developed nations, but the birthrights of people everywhere, now enshrined in the United Nations Declaration on Human Rights -- the right to be treated with dignity; the right to express one's opinions, to choose one's own leaders, to associate freely with others, and to worship, or not, freely, however one chooses.

其实一个人到北京的时候什么都怕，这么多陌生的人，还有你的公司在北京并不出名，而且没有多少钱，而且要run这么大一个公司，我第一个做法就是去找人，找最重要的人，我把能帮我融资的人找来，我自己不会融资，我从来不知道融资的每一个步骤，什么谈判，我也从来没有这个经验，所以我先要找一个人来帮我去谈融资。

Since 2003 year, in two major ways, funds and lands have the governments macro-controlled the whole industry in order to keep the estate industries healthy and sustainable growth and evade the risk. Since funds and lands are the understructure upon which the estate companies have developed, the government control concerning them have made the whole industry faced a critical financing hardship. Consequently, many companies which used to extremely depend on bank credits are confronting the financial pressure. Many middle and small enterprises are even facing the problem of maintenance. Accordingly, under the background of the present macro-control, the debates and research over the diversity of estate companies' financing mode are abundant in its realistic meaning.

为了保持房地产行业健康、可持续发展，规避房地产金融风险，我国政府自2003年以来主要从资金和土地两个方面对房地产行业进行了宏观调控，由于资金和土地是房地产开发企业赖以生存的基础，多管齐下的调控措施打破了房地产开发企业原有的开发模式和融资模式，使得房地产开发企业普遍遭遇融资困境，过去以银行贷款为主要融资方式的房地产开发企业普遍面临资金压力，许多中小型房地产开发企业甚至面临生存问题，因此，在当前宏观调控背景下，探讨中小型房地产开发企业融资模式多元化问题具有很强的现实意义。

Finally, according to market conditions and market products this article paper analyzes the trends in the development of camera technology, and designs a color night vision camera.

最后根据市场情况和市面上产品的情况分析了摄像机技术的发展趋势，并设计了一款彩色夜视摄像机。

Only person height weeds and the fierce looks stone idles were there.

只有半人深的荒草和龇牙咧嘴的神像。