证券公司

The China Securities Regulatory Commission recently amended provisions of the acquisition of listed companies, listed companies will be exempted holdings of the shareholders by the application of "pre-application" to "ex post facto."

在中国证券监督管理委员会近日修订了上市公司收购规定，上市公司将免除了&预申请&应用程序&事后股东的持股。&

This paper firstly reviews the evolution of American going-concern auditing opinion, so we can know the essence of this kind of auditing opinion. Secondly, on the base of analysing the conditions of going-concern of Chinese enterprises and a typical case, we draw our conclusion that chinses capital market urgently demands going-concern auditing opinion.Finally, this paper focuses on financial characteristic of company and the characteristic of going-concern auditing opinion, the market response to going-concern auditing opinion, the value relevance as well as the determinants of auditor reporting going-concern auditing opinion.

本文首先以美国为例，回顾了持续经营不确定性审计意见(going-concern opinion，以下简称为GCO)的发展沿革，籍此认识持续经营不确定性审计意见的本质内涵；其次，在对我国企业尤其是上市公司的持续经营问题进行分析的基础上，通过典型案例的剖析得出我国资本市场对持续经营不确定性审计意见存在较强烈需求的结论；最后，针对我国证券市场持续经营不确定性审计意见的市场反应、价值关联性及被出具持续经营不确定性审计意见公司的财务特征、审计师出具持续经营不确定性审计意见的影响因素进行了实证分析。

The current research fruits show that the half-strong effective market is easy to realize but the strong one is difficult to reach, so the contents of the system of AD can not only transfer every new information but also impel the corporations to disclose the relevant information completely and timely, improve the transparency of the market and uphold the fairness of the transactions.

我国一直相当重视会计信息披露制度的制订工作，从基本不存在较为正式的会计信息披露，到信息披露制度的初步建立，直至初步形成上市公司会计信息披露制度的基本规范，我国的上市公司会计信息披露制度建设已取得了很大的成绩。它涵盖证券立法、会计规范、审计规范三个方面的内容。

Close relationships consist of cases of well-known friendship; share ownership or directorships held by former heads of state or prime ministers as well as former directorships held by current politicians, foreign politicians, and well documented relationships with political parties (Gomez and Jomo, 1997; and Johnson and Mitton 2003), To establish the presence of connections, the names of top company directors were taken from Worldscope, Extel, company websites, and Lexis-Nexis, and the names of block-holders were identified from Claessens, Djankov, and Lang (2000), Faccio and Lang (2002), the web sites of the stock exchanges or their supervisory authorities, Worldscope, and Extel.

密切的关系包括知名的友谊盒；与政党以及前管理者的职位分享归属或管理者的职位举行由前国家首脑或总理举行由当前的政客、外国政客，和很好被提供的关系(Gomez 和Jomo 1997 年；并且约翰逊和Mitton 2003)，建立连接出现，顶面公司主任的名字被采取从Worldscope 、Extel 、公司网站，和全语汇Nexis，并且阻拦囤户的名字被辨认了从Claessens 、Djankov、和Lang (2000)， Faccio 和Lang (2002)，证券交易所或他们的监督权的网站， Worldscope，和Extel 。

A series of new debt products enabled even the leakiest corporate balance-sheet structures to stay afloat—for a while. In the 1980s junk bonds opened up credit markets for lower profile firms.

一系列新的债务产品使得即便是漏洞百出的公司资产负债表体系也得以短时正常运营。80年代，低信用等级的公司发行的垃圾债券在证券市场大行其道。

And bring about these problems main cause is a listed companys govern structure being having the problem, a listed company selfs cause, the small and medium shareholder invests in idea no reason , bond market do not improve and perfect waiting.

造成这些问题的主要原因是上市公司的治理结构还存在着问题，以及上市公司自身的原因，中小股东投资理念不理性，证券市场的不完善等。

He spoke enthusiastically about supporting a legislative proposal to allow government-sponsored enterprises Fannie Mae and Freddie Mac to securitize more expensive mortgages to spread their liquidity function into a different part of the market, but signaled that the administration would condition its support on broader regulatory reform of the companies.

他强烈表示支持一项立法议案，该议案允许政府扶持的企业联邦国民抵押贷款协会(Fannie Mae，简称：房利美)和联邦住房贷款抵押公司将利率更高的抵押贷款打包成证券，将其流动性职能扩展到市场的其他部分，但是鲍尔森同时指出政府的支持将视这两家公司是否做出更广泛的监管改革而定。

If you are an employee of another licensed corporation, please provide a consent letter from your current employer regrading the opening of

若阁下是证券及期货事务监察委员会之注册公司的雇员，请提供雇主所发出有关在本公司开户之同意书。

Easy victory in a company called the Exchange's Web site, the reporter saw, the company opened a dedicated Chinese language website, and made it clear that he is a member of the U.S. National Futures Association, is a by the Australian Securities Investment Management Committee supervision of registered dealers, customers in China as long as they open an account there, it can be

在公司容易的胜利称为Exchange的网站，记者看到，该公司开设了一个专门的中文网站，并明确说，他是美国国家期货协会成员，是由澳大利亚证券投资管理委员会注册交易商的监督，中国客户只要开立一个帐户那里，可以100-500美元赠款。

China Securities Depository and Clearing Corporation statistics show that as at 8 at the end, funds, QFII, insurance companies and other institutional investors in the bank accounts of A trustee for the stock market value of 1749.59 billion yuan, more than 122.228 billion yuan reduction in the previous month.

中国证券登记结算公司统计数据显示，截至8月底时，基金，合格境外机构投资者，保险公司和其他机构投资者对阿受托人的17495.90亿元，超过1222.28亿元减少股票市值的银行帐户上月相同。

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。