资本债券

A long time, China's bond market development lagged behind, lacking the GEM, the product is not rich, investors structure is irrational, restrictions on capital market size, level of development of varieties and the expansion of space, affecting the allocation of resources of capital markets function effectively.

长期以来，中国的债券市场发展滞后，缺乏创业板市场，产品不丰富，投资者结构不合理，资本市场规模，水平，品种的发展和空间扩展影响的资本资源的分配，限制市场有效运作。

Extensive and profound research has been conducted into the relationship between events of change in capital structure, such as stock issuance, bond issuance and debt-equity swap, and corporate value in the West.

西方对发行股票、发行债券和债－股互换等资本结构变化事件与公司价值之间的关系进行了广泛而深入的研究，尽管对不同资本结构变化事件引起的股价反应有不尽相同的理论解释，但几乎都与公司负债率变化引起的税收效应、财富转移效应和信息效应有关。

On the one hand, the feature of non-human capital transaction is fictitious. The market transaction of non-human capital has evolved fictitiously from the market transaction of material object to the market transaction of the bond, stock, and options.

非人力资本市场交易的特点是虚拟化，非人力资本市场交易从实物市场交易到债券市场交易、股票市场交易、期货市场交易等，是一个虚拟化演进过程。

Then it retraces and appraises the development of capital structure theory, and indicates that considering the effects of bankruptcy cost, agency cost and nonsymmetrical information, in order to achieve the maximization of market value, the reasonable financing sequence is: raising money inside enterprise, borrow money from outside, transferable bonds and stock.

然后，通过对资本结构理论发展的回顾和评价，并指出围绕企业市场价值最大化的目标，考虑到破产成本、代理成本以及信息不对称对企业资本结构的影响，企业合理的技术融资顺序应该是：内源融资、举债、可转换债券和股票，但企业最高融资境界却是以制度、并购、控股以及品牌输出、合资合作为内容的融资行为。

In the end, based on above-mentioned study, we give policy recommendations such as perfecting relevant financial regulatory laws so as to timely propose mixed manage of financial industry, continually developing and perfecting bond market so as to broaden linking channels between money market and capital market, development of bond market, reducing the entrance constraints between money market and capital so as to strengthen the connectivity of investors between money market and capital market.

在上述研究的基础上，提出应健全和完善我国金融监管相关法律，适时推出金融业的混业经营模式；继续发展和完善债券市场，拓宽我国货币市场和资本市场的连通渠道；降低货币市场和资本市场准入门槛，增强两个市场投资主体的连通性等政策建议。

The U.S. system uses six different capital weightings for bonds according to their credit risk, and the Japanese system uses three.

美国的体制根据债券的信贷风险对债券使用六种不同的资本权重，而日本的体制只使用三种。

Under the traditional enterprises system, the prior-to-inner-finance financing method restricts the scale of demand and supply of bond market, which makes government bond market dominate capital market being the initial category in quite a long time.

在传统企业制度下，以内部融资为主的融资方式制约了债券市场的需求和供给规模，使得政府债券市场作为资本市场的最初范畴在相当长的时间内占据主体地位。

In the capital market of our country, bond market, especially the proportion of development of the bond market of the enterprise and stock market is very incongruity, It has been a" short leg" of the securities market of our country all the time.

在我国的资本市场中，债券市场，特别是企业债券市场与股票市场的发展比例很不协调，一直是我国证券市场的一条&短腿&。

In accordance with the contract set, the structural security of the notes corresponding to the funds through a certain degree of structure and mechanism of the full allocation of the proceeds in assets and capital preservation assets, including assets, income, the ratio of fixed-income goal of 45%(20% to 70 % Floating), the target ratio of 35% of the shares (10% and 60% floating), the real estate trust the target ratio of 10%(a maximum of 15%), commodity funds target ratio of 15%(a maximum of 15%); capital preservation assets are invested in zero-coupon notes.

按照合同规定的规定，票据的对应资金结构的安全性通过结构和在资产和资本保全资产，包括资产，所得收入全部分配机制一定程度时，固定收益率目标的45％（20％至70％浮动），有35％的股份目标比例（10％和60％的浮动），房地产信托10％的目标比例（15％最大），商品资金15％的目标比例（15％为上限）；资本保全资产投资于零息债券。

Portfolio flows into high-interest African government bonds increased by 14 times between 2003 and 2006, to $23 billion.

大量资本涌向高息的非洲国家债券，从2003到2006年间，非洲国家债券增发十四次之多，总计高达230亿美元。

In the negative and interrogative forms, of course, this is identical to the non-emphatic forms.

。但是，在否定句或疑问句里，这种带有"do"的方法表达的效果却没有什么强调的意思。

Go down on one's knees;kneel down

屈膝跪下。。。下跪祈祷