证券

The reaction of market price to the real value and the resource allocation function of the stock markets are damaged by Insider trading.

因此，研究我国证券市场制度，加强内幕交易的防范和监督有极大的现实意义。

After more than ten years development, stock market in China has already become one of resource allocation channels.

经过十几年的发展，我国证券市场已经成为资源配置的重要渠道之一。

In the capitalist society, the security market is a very important organization to allot wealth.

在资本主义社会里，证券市场是一个很重要的财产分配机制。

To receive and accept an allotment of securities in the primary market.

指在初级市场接受获分配的证券。

In accordance with the relevant provisions of China Securities Regulatory Commission, to allotment has been in circulation can not be listed.

按照中国证券监督管理委员会的有关规定，对在流通分配不能被列入。

Chaper 3 compares and analyzes four modes of financing of enterprise in the world, include securities business leading mode in America, main bank mode in Japan, almightiness bank mode in German, government leading mode in Korea.

第三章比较、分析国际上具有代表性的四种企业融资模式，即美国证券市场主导型、日本主银行主导型、德国全能银行主导型和韩国政府主导型企业融资模式。

By Zhou Deci In traditional CBD, big companies, large banks, security companies, insurance companies, headquarters of other companies and government bureaus swarmed together with build up office buildings and equipped hotels and shopping plazas dot among them. Like the peak of a pyramid, CBD aloofly and proudly stands in the center of a city, excluding business irrelevant factories or residence areas to places far away.

传统CBD内，大公司、大银行、证券公司、保险公司、公司总部、政府部门云集，写字楼林立，与之配套的酒店、商场点缀其中，CBD犹如金字塔的塔尖，孤傲地挺立在一个城市的中心，而与商务无关的工厂或居住区则远离此地。

Those rating agencies have earned huge sums in the past ten years offering opinions on the creditworthiness of an alphabet soup of mortgage-related securities created by over-eager banks.

在过去的十年中，这些评级机构为渴望盈利的银行的信贷证券提供信用评级而获得了利润。

Consequently, this essay choose the "Z-Score Model", which was developed by Altaian, the famous American expert in risks management, to analyze and evaluate the listed companies' credit risks in China and to verify its efficiency to Chinese stocks market. The " Z-Score Model" is an innovation in the evaluation of companies' credit risk in the United States' banks, which is now being used widely. If the model is also applicable in Chinese stocks market, it will be significant in both theories and practices.

因此，本文选用作为美国商业银行信用评估方法的一次重要创新的，目前仍被美国商业银行广泛使用的，由美国著名信用风险管理专家Altman建立的"Z评分模型"(Z-Score Model)来对我国上市公司的信用风险状况进行实证研究，验证其在我国股票市场的有效性程度，如果能证明"Z评分模型"同样适用于我国证券市场，并将其改造为更适合我国上市公司的信用风险分析模型，将不仅具有很大的理论价值，而且也具有十分重要的现实意义。

It has also been an important investment tool.As for China's securities market,convertible bond used as akind of new creative financial tool,has been ahotspot to financing people and investors.Gradually it has become amain tool of refinancing.

对于中国证券市场来说，可转换债券是一种具有发展潜力的金融创新工具，越来越成为融资者和投资者关注的焦点，并逐渐成为中国上市公司再融资的主要工具之一。

According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.

曝气设备的动力效率在叶轮转速为120rpm～150rpm时取得最大值，此时氧利用率和充氧能力也具有较高值。

The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.

稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世，形体几无变化。