资产收益

Exchange fee, tax policy and negotiation method have important effect on acquisitions price. So, control premium also originates from the different view on price between consignee and alienator.

转让方一般更注重公司的现有资产价值，构成了定价的下限；收购方则更关心通过收购可以在未来带来多少收益，而并不在意资产的具体形成的投入，构成定价的下限。

Some of the common uses of secured loan proceeds are in debt consolidation, making improvements in home, purchasing car or other assets, going on holidays etc. Secured loans use any asset of borrower to cover lender against any risk emerging in the future.

一些常见的用途，担保贷款收益债务整合，改善家中，购买汽车或其他资产前往假日等担保贷款使用任何资产，借款人向贷款人支付任何危险出现在未来。

In late 1999, he left Samsung ITMC and worked for KTB Asset Management and Regent Asset Management as a fixed income CIO.

在1999年末，金东一先生加入KTB资产管理和代理资产管理公司，并任固定收益部CIO。

To the foregoing provisions, director of the company as an example, customers want to engage in financing business, in addition to account for 6 months, with more than one million assets, investment profit and loss records and asset turnover also included in the study.

对于上述规定，公司董事为例，客户希望参与融资业务，除了考虑6个月超过100万资产，投资收益和亏损的记录和资产周转率，也纳入研究。

The final results of empirical studies give as follows: the ownership of China institutional investors is negative to debt-asset ratio in the down range, positive to asset turnover ratio in the raise interval, positive to company size, earnings per share, and return on investment, negative to book-to-market rate, and in the later negative to the exchange rate and market risk.

最终实证研究结果为：中国机构投资者持股比例与资产负债率在股指下降时负相关，与资产周转率在股指上升时正相关，与公司规模、每股收益、投资回报率正相关，与账面市值比负相关，在后期与换手率、市场风险负相关。

It shows the classes and the definiens ofthe intangible assets .The appraisal methods play the role and itslocalization in appraisal works. It chiefly introduces the applicationof the present return value in evaluating the series of prescriptionsin a hospital.

在这一部分，介绍了无形资产的分类、概念，基本的评估方法及各种方法在评估无形资产中的作用和局限性；重点介绍了收益现值法在评估我省某一医院的一系列中药方中的应用，由于此系列药方应用情况不同，在评估中采用的方法也不尽相同，给评估造成一定的难度。

New accounting standards promulgated, in many ways, made significant adjustments, such as asset impairment, inventory valuation, debt restructuring proceeds, intangible assets, borrowing costs and the fair value of the re-introduction, which to a large extent changed the financial statements up data.

新颁布的会计准则在许多方面都作了重大的调整，如资产减值、存货计价、债务重组收益、无形资产、借款费用等方面和公允价值的重新引入，从而很大程度上改变了财务报表上的数据。

Competent commercial departments at all localities shall actively coordinate pertinent local departments for support small and medium circulation enterprises to promulgate tax and financial support policies related to pioneering work encouragement and supports given to small and medium circulation enterprises for business innovation, technical innovation and market exploration, reduce costs for the restructuring and reform of small and medium circulation enterprises, encourage the financing by means of income from operation of state-owned enterprises' assets, liquidity of commercial land, reduction of state-owned capital in circulation enterprises, transfer and financial allocation, in places where conditions permit, set up special funds for the reform of state-owned small and medium circulation enterprises which shall be used to pay the restructuring fee which is payable by and fails to be paid by restructured enterprises lacking strength to do so, and to pay the social insurance and economic compensation, the payment of which the cash after liquidity of assets of enterprises in bankruptcy is not sufficient to cover, actively coordinate with the local department for real estate administration for its support, solve problems on the ownership of commercial real estate which has been used for long by state-owned small and medium circulation enterprises, and earnestly implement the preferential policies of the State concerning the reemployment of laid-off workers by enterprises and concerning the establishment of small and medium enterprises by laid-off workers from state-owned enterprises.

各地商务主管部门要积极协调当地有关部门出台鼓励创业、支持中小流通企业经营创新、技术创新和开拓市场的税收政策和金融支持政策，降低中小流通企业的改革、改制成本。鼓励有条件的地方通过国有企业资产经营收益、商业用地变现、流通企业国有资本减持、转让以及财政拨付等方式筹措资金，建立国有中小流通企业改革的专项资金，用于无力支付改制费用企业的改制费用以及破产企业资产变现后不足支付职工社会保险、经济补偿等方面费用。要积极协调，争取地方房产管理部门的支持，解决国有中小流通企业长期使用的商业用房产权归属问题。要认真落实国家关于企业吸纳下岗职工就业和国有企业下岗职工创办中小企业的优惠政策。

In chapter3, information is divided into two basic types, the marginal equation of bond price and short-term interest variations is established, thus the security price variations and the price equilibrium of other assets (risk security non-risk security are included) are analyzed by the implement of portfolio Theory. Finally the bond value equation which takes equilibrium return as its yield Parameter is established through the theory of comparative return. In chapter 4, the intra-information and the transferable system of price is emphasized and the market-maker model and expected model under non-perfect information market conditions are established, and the disaccord of the influence of extra-information and intra-information on the security price is discussed.

第三章将债券的价格均衡划分为两大基本类型，建立了债券与短期利率变动的边际方程，运用组合原理分析债券价格变动与其它资产(包括风险证券和无风险证券)的价格均衡关系，通过比较收益原理建立了债券以市场均衡收益为折现参数的价值方程，并通过实证检验了该模型的合理性；第四章，分析了内部信息与价格的传导原理，建立了非完全信息市场条件下价格传递信息的做市商模型和预期模型，并讨论外部信息与内部信息对股票价格影响的非一致性。

The loss, reported yesterday, dragged down the performance of the bank's equity trading activities while strong gains in fixed income trading and its takeover advisory business brought the second- quarter earnings in line with market expectations.

昨天报告的这一亏损拖累了该行的股票交易业绩，但银行的固定收益资产交易及并购咨询业务获利强劲，令其第二季度收益达到了市场预期。

I didn't watch TV last night, because it .

昨晚我没有看电视，因为电视机坏了。

Since this year, in a lot of villages of Beijing, TV of elevator liquid crystal was removed.

今年以来，在北京的很多小区里，电梯液晶电视被撤了下来。