账面利润

The results are consistent with the interpretation that positive intangible information tends to trigger institutional herding on the buy side.3. The securities Investment Funds act as momentum traders in bear market while as contrariant traders in bull market. Further analysis reveals that momentum trading by investment funds intensifies stock return momentum but stock price experiences a long-term reversal. It indicates return momentum results from mispricing instead of risk. The securities Investment Funds hamper market efficiency when they act as momentum traders.4 Both momentum trading and herding behavior intensify market anomalies and hamper market efficiency. However, momentum trading or herding behavior is the only one of the many aspects of the institutional investor.

第三，机构投资者的动量交易行为会加重了股票收益惯性，这一结论在分别控制股票规模、账面市值比因素后仍成立，并且机构投资者对股票的动量交易行为越强烈，股票收益的惯性也越明显，说明机构投资者具有影响股票价格的能力；进一步的分析表明，惯性利润在长期均实现反转，但反转的周期和程度受动量交易指标值的影响，股票动量交易程度越高，动量收益反转越强烈，反转周期越短，这表明机构投资者的动量交易行为使股价严重偏离其基础价值，在长期，股票价格不断调整逐渐靠近其基础价值，因此可以说，机构投资者对股票的动量交易行为会加重股票收益惯性和阻碍市场效率。

Goldman Sachs' private equity arm is sitting on a stake valued at about $1bn in Hepalink, a newly-listed Chinese pharmaceuticals company, having invested just $5m three years ago.

高盛私人股本部门3年前对海普瑞药业的区区500万美元投资，正使其坐拥大约10亿美元的账面利润；海普瑞是一家刚上市的中国医药公司。

So, if the need for cash is naturally the choice of book profit shares, as China Life IPO early this works.

因此，如果对现金的需求，自然是账面利润的股票选择，中国人寿首次公开上市初的作品。

At the peak, Ye Jing and his wife Kim Tae-ST in the book profit of 9,000 million shipments in the end, before and after the total income of more than 2,000 yuan.

在高峰时，叶奇嗯和他的妻子金大中在9000万美元，最终意法半导体出货量账面利润，之前和之后的2000多万元的收入。

Although the Construction Bank H shares since the record high price decline since nearly 70%, but Bank of America is still the book profit of more than 4 billion U.S.

尽管建行H股以来的最高纪录以来，近70％的高价格下降，但美国银行仍是多四十〇点零零亿美元账面利润，产量仍有近140％。

Benefit from China's largest oil group, the floating book profit of about 28,200,000 yuan.

来自中国最大的石油集团，约2820.00万元浮动账面利润受益。

In contrast, some enterprises may book profit performance is not outstanding, but because of the cash flow situation was good, strong capacity to pay, and access to investors, creditors of the "favor", has been able to continue to develop.

相反，有些企业则可能账面利润表现并不突出，但因其现金流量状况良好，支付能力强，而获得投资者、债权人的&青睐&，得以不断地发展。

In his five-page confessional letter to Satyam's board, Mr. Raju said that initially the gap between the company's actual operating profit and the one reflected in the books had been marginal.

拉贾在向萨蒂扬董事会提交的5页自白信中承认，最初公司的实际营运利润与账面上显示的数据差距并不大。

At that time, due to an immature market factors, the lack of active market, fair value is often difficult to obtain, leading enterprises in the use of these accounting criteria There is a certain arbitrariness, and thus left to the fair value of the abuse of loopholes, a profit of manipulation "Therefore, the new guidelines on the new system and operational matters dealing with the economy as much as possible by avoiding the 'fair value' pricing, according to the book value recorded." 2006 promulgated by the new accounting standards clearly require the use of fair-value model, this is not only the application of fair value measurement of financial instruments from the non-financial tools to the change, as well as for the application of fair value of a turning point - by the controversy "is used" to the "How a" turning point.

原因是由于当时要素市场不成熟，缺乏活跃的市场，公允价值往往难以获得，导致企业在运用这些会计准则时存在一定的随意性，从而也给滥用公允价值留下空子，出现人为操纵利润的情况，&因此，新准则和新制度对有关经济业务事项的处理尽可能地回避了按'公允价值'计价，而改按账面价值入账&。2006 年新颁布的会计准则明确要求采用公允价值模式，这不仅是公允价值计量的应用由金融工具向非金融工具的转变，也是对我国公允价值应用的一个转折点——由争论&是否采用&到&如何采用&的转折点。

They weren't aggressive, but I yelled and threw a rock in their direction to get them off the trail and away from me, just in case.

他们没有侵略性，但我大喊，并在他们的方向扔石头让他们过的线索，远离我，以防万一。

In slot 2 in your bag put wrapping paper, quantity does not matter in this case.

在你的书包里槽2把包装纸、数量无关紧要。