资本

The impropriation of the fund of a listed company by the majority stockholder is very common in the capital market of our country, which makes serious effect on the normal management of the company and great damage to the benefit of the company and other related persons, and becomes a stubborn illness reason preventing the development of the capital market.

摘要控股股东违规占用上市公司的资金是我国资本市场上一个非常普遍的问题。这种行为严重影响了上市公司的正常经营，侵害了上市公司和相关利益者的切身利益，成为影响我国资本市场规范发展的一大顽疾。

This study contributes significantly in financial literatures in describing and modeling volatility in stock markets with incompleted reaction to expected news. It is also of great significance to asset pricing and risk management.

风险和收益是资本市场永恒不变的主题，本研究在波动率研究命题上所作的理论创新和技术应用对于资本市场的证券定价，资产配置以及风险管理同样具有重要的现实指导意义。

20Th century "boycott" may be inconducive to the growth of Chinese brands of transnational capital, since such acts are perilous to fair market mechanisms, especially ones relevant to the Chinese context, thus affecting Chinese brands more adversely.

在全球化环境下，中国牌，中华牌跨国资本要和日本牌跨国资本竞争，二十世纪的&抵制&形式可能适得其反，因为这是国际市场本身所厌恶的行为。

According to the traditional capital structural theory analysis ,the conclusion which is bonds financing will be advantageous. By analyzing the best of financing cost and financing preference of listed companies in our country, the article discovered there was inconsistence in financing structure of listed company in our country compared with the capital structure in developed country and carried on a thorough analysis.

根据传统资本结构理论的分析可得出债权融资更有利，本文在通过对我国上市公司融资成本和融资偏好的分析检验中，却发现了我国上市公司的融资结构相比发达国家的资本结构来说存在很大的不一致，并对此进行了深入的分析。

Secondly,it discusses and enumerates the facts about pros and cons,alienation of the MRP.lt affirms that most advantage of MRP,as the rules of a unified company"s will reflects the equal status of shareholders and "Limited democracy".Meamwhile,it points out that the principle also provides the possibility for shareholders to change their own will into company"s will by voting "legally,fairly and sensibly",and to oppress,squeeze,swindle or to treat medium and small shareholders inequitably,or to abuse control power,in order to satisfy their own private interests.Thus,"the protection of the rights and interests of medium and small shareholders"realizes the high-level equality between big shareholders and medium and small shareholders,between majority stockholders and minoritystockholders ,with a view to redressing unbalanced interests relationship among shareholders.

其次对资本多数决的利弊及异化表现进行了论述和列举，在肯定资本多数决作为一项统一公司意思的议事规则，体现了股东地位的形式平等和&有限民主&思想的同时，指出该原则也为大股东&合法、合情、合理&地行使表决权将自己的意愿转换成公司的意志，压迫、排挤、欺诈或不公正地歧视中小股东，滥用控制权，满足一己私利提供了制度上的可能和空间，由此而产生中小股东权益保护问题，以矫正失衡的股东利益关系，实现大股东与中小股东、多数股东与少数股东之间更高层次的平等。

Under the frame of inframarginal analysis, this thesis applies the transaction cost theory and the social capital theory to analyze peasants' choice of the different organizations and the various levels of the organization, also it combines questionnaire investigation and case interview to make an empirical research.

论文在超边际分析的理论框架下，运用新制度经济学的交易费用理论和社会学的社会资本理论，对农民配置人力资本的组织形式选择及农民普遍选定的经济组织内部的层次差异进行理论分析，并采用问卷调查与个案访谈相结合的方法对其进行了实证研究。

The overseas investment banks have inundatory superiority over their capital scale ,the earning of vendition,capability of operation and ability of financial creation ,the enterance of investment overseas will bring grimness challenge to our home investment banks .At the same time,our home investment banks face the pressure of mixed operation greatly .Recently commercial banks and insurance agents turn into the operation of investment banks one afer another ,our home investment banks feel the pressure of mixed work .

假如WTO后，我国承诺向国外金融机构逐步开放资本市场，而国外投资银行无论在资本规模、销售收入、业务能力以及金融创新能力方面都具有压倒性的优势，跨国投资银行的进入将给国内投资银行带来严峻挑战，同时，国内投资银行面临混业经营的压力越来越大，近几年商业银行或者保险公司纷纷进入投资银行业，国内投资银行感到了混业经营带来的压力。

The overseas investment banks have inundatory superiority over their capital scale ,the earning of vendition,capability of operation and ability of financial creation ,the enterance of investment overseas will bring grimness challenge to our home investment banks .At the same time,our home investment banks face the pressure of mixed operation greatly .Recently commercial banks and insurance agents turn into the operation of investment banks one afer another ,our home investment banks feel the pressure of mixed work .

如果WTO后，我国承诺向国外金融机构逐步开放资本市场，而国外投资银行无论在资本规模、销售收入、业务能力以及金融创新能力方面都具有压倒性的优势，跨国投资银行的进入将给海内投资银行带来严峻挑战，同时，海内投资银行面临混业经营的压力越来越大，近几年商业银行或者保险公司纷纷进入投资银行业，海内投资银行感到了混业经营带来的压力。

Lianyungang JinChao Investment Co., Ltd was invested by Jiangsu JinHai Investment Co., Ltd and GuanNan county government. It was founded on April, 2007 with a registered capital of RMB 10 million and total assets of RMB 92 million. JinHai investment Co., Ltd accounts for 80% of the total equity and GuanNan Government accounts for 20%.

连云港金潮投资有限公司是江苏金海投资有限公司和灌南县人民政府共同投资成立的资本运作实体，于2007年4月成立，注册资本1000万元，总资产9200万元，其中金海投资公司占总股本的80%，灌南县人民政府占总股本的20%。

So, if we think about all-sides factors, we could be more impersonal and judgmatical in this problem and this would help us to give some practical advise.

本文在对我国现行的外汇管理制度做了一个比较全面的分析的基础上，考察了我国现阶段的资本管制的效果，认识到随着经济的不断开放，资本管制的效果也在逐步削弱。

This one mode pays close attention to network credence foundation of the businessman very much.

这一模式非常关注商人的网络信用基础。

Cell morphology of bacterial ghost of Pasteurella multocida was observed by scanning electron microscopy and inactivation ratio was estimated by CFU analysi.

扫描电镜观察多杀性巴氏杆菌细菌幽灵和菌落形成单位评价遗传灭活率。