证券公司

With the market scale enlarging, innovation deepening, market practice standardization and investors' structure improving, value investment has gradually become the main investment concept in the market, furthermore, a company's fundamental has become the key determinant in share pricing, and various pricing models on company's intrinsic value have gradually being used in company's initial public offering. Efficient Market Theory is one of the basic principles in modern finance theory, therefore the judgment on the market efficiency greatly affects the choosing and applying of valuation models.

随着证券市场规模的壮大、市场运行的规范、市场创新的深化、投资者队伍结构的改善以及国际化进程的加快，价值投资逐渐成为市场的主导投资理念，公司基本面开始成为股票估值的重要因素，在公司股票首次公开发行（initial public offering， IPO）中，基于公司内在价值评估的各种估值模型则在实践中逐步得到应用。

Founded in 1894 and with its head office is in the United Kingdom, Halma has been one of the most consistently successful companies listed on the London Stock Exchange FTSE 250 over the last 20 years.

作为20年来伦敦证券交易所FTSE250上市公司中最成功的公司之一，豪迈集团为旗下公司业务的可持续性发展提供了强大而稳定的金融支持。

1 All monies, securities, and other property received by you from us or from any other person including

贵公司为本公司的帐户而从本公司或任何其届人士所收取的全部款项，证券及

And there is a significant negative correlation between the investor protection and corporate cost of equity.

研究结果表明，在我国证券市场发展的历史实践中，随着中小投资者法律保护措施的加强，上市公司的权益资本成本出现一个逐步递减的过程现象；在控制公司特征和宏观经济变量的情况下，中小投资者法律保护程度与上市公司的权益资本成本呈显著的负相关关系。

But, because of various reasons, some irregularity exposed by our listed company, have injured the our country stock market and the sound development of the listed companies, and also made large investors suffer great losses that shouldnt have and undertake the otiose risks, but this phenomenon turns to be worse in the last few years, which is reflected on profits manipulate in the listed company.

但是，由于种种原因，我国上市公司信息披露中还存在不少不规范的现象，损害了我国证券市场和上市公司的健康发展，也使广大投资者蒙受了许多不应有的损失和承担不必要的风险，而这1现象在近几年来日趋严重，这主要表现在上市公司进行利润操纵上。

Targeted enterprises should provide a chart of all their branches and the stock-right relationships of all their shareholders, documents of securities possessed by the enterprises, documents of the securities and stocks pledged.

应要求目标企业提供公司所有分公司或分支机构的设立和参股的所有公司的股权关系架构图文件、公司拥有证券的相关证明文件、设置质押的股权、有价证券等的相关证明文件等。

Furthermore the security analyst recommendations prefer the small firm and the low book-to-market firms.

而且证券分析师推荐的潜力股票偏好小公司，而提醒警惕股票倾向于小公司和低账面市值比的公司。

Next, I made detailed description of a general online security broker's business, on the basis of investigation on an online security exchange broker—company A, its organization structure, source of income, its competitive superior and weakness.

接下来便以 A 证券网为例，详细介绍了该公司的业务及组织情况，A 公司的收入来源分析，以及该公司所具有的优势与劣势。

Along with the development of stock market in our country, parts of listed companies of our country appears to manage the contruction out of order ,the companies' information is not serious really, the connection trades frequently occur, the big stockman take out matters of company's funds at random, it will not benefit small and middle stockmen, these lead the independent director's system to become inevitable.

随着我国证券市场的发展，我国部分上市公司出现了治理结构失灵、公司信息披露严重失真、关联交易频繁发生、大股东随意抽逃上市公司资金的情况，严重损害了中小股东的利益，使得我国引入独立董事制度成为必然，但在实际运行过程中仍然存在一系列的不合理性。

When the company went public two years ago, its telegenic young founders, Sergey Brin and Larry Page, wrote in the company's official filing for the Securities and Exchange Commission that Google is ''a company that is trustworthy and interested in the public good.

当公司在两年前上市的时候，公司年轻的创始人，Sergey Brin和 Larry Page 在写给证券所的文件中说，Google是一个值得信任的，关注公众利益的公司。

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。