It finds out t hat the low cost of stock financing co uld not contribute to the enterprise preference in stock financing.
文章分别用成本收益分析法和委托代理关系分析法解释了企业的融资偏好问题,结果发现:企业偏好于股票融资并不是因为股票融资成本低,而是因为在内部人控制下,股票融资对管理者约束小,而债券融资对管理者约束性强。
In resent years,with the rapid development of securities markets and enhancement of financing abilities,enterprises have focused on the stock financing.
近年来,随着证券市场的迅速发展和融资功能的增强,企业注重股票融资有其客观必然性,但过度依赖股票融资也将对公司本身和证券市场的发展带来许多负面影响。
There is an efficiency paradox among China s listed companies characterized by the preference of equity financing and low efficiency of operation.
文章从股权制度安排、股票融资与投资行为之间关系出发,建立模型进行解读:上述悖论源于我国特殊的股权分割制度导致国有资产折股存在溢价效应,激励国有企业承担净现值为负的投资项目。
At first,through the comparison between Chinese capital market and international market,we propose the subject that we are going to research into the preference of stock market when Chinese enterpries raise fund from the outside.
用成本收益分析和委托代理关系分析两种分析方法去解释企业的融资偏好问题,我们发现:企业偏好于股票融资并不是因为股票融资成本低,而是因为在内部人控制下,股票融资对管理者约束小,而债券融资对管理者约束性强。
Equity Financing Programme of the Inter-American Development Bank
美洲开发银行股票筹资方案
Case study on stocks funding ability in Fujian listed companies;
福建上市公司股票筹资能力实证研究
Stock risk is pided into decision-making risk& management risk.
股票筹资风险可分为决策性风险和经营性风险。
Note: Issued amount, total issued capital, total market capitalization and raised capital of shares don't include H share.
注：股票发行量、发行股本、价总值和筹资额均不含H股。
The corporation can raise large amounts of capital by selling stock.
公司可以通过出售股票来筹集大量资金。
Corporations can sell stock as a way to raise money.
公司可以通过出售股票作为筹集资金的手段。
quality financing
售股集资,增股筹资,产权筹资
Small quantity of financing enterprises issuing stock, narrow spread of industries, and no corporation bond financing are the present situation in Guizhou province.
贵州省发行股票融资企业数目少、业分布狭窄,股票发行筹资额小,公司债券融资尚属空白。
Market Pricing Comparison among the A Stock,Chinese Concept Stock & American Stock
A股、红筹股及美国股票市场定价比较
Got it. Now, how should I finance my business ? with equity or through debt?
知道了。现在，我该怎样去为我的事业筹措资金呢──股票，还是借债？
Got it. Now, how should I finance my business- with equity or through debt?
知道了。现在，我该怎样去为我的事业筹措资金呢─股票，还是借债？
When a corporation needs to raise large amounts of long-term capital, it generally sells additional shares of capital stock or issues bonds payable.
当需要筹集长期的巨额资金时,公司往往增发股票或发行债券。
When a company sells shares of itself to the public to raise capital.
一家公司通过向社会公众出售其股票筹集资本的行为。
quality financing versus debt
增股筹资与借款筹资的比较
No stock, even the blue chip variety, is immune to a drop in the market.
所有股票，包括各种蓝筹股，都不能免于跌势。
A principal advantage of raising money by issuing bonds instead of stock is that interest payments are deductible in determining income subject to corporate income taxes.
通过发行债券而不是股票筹集资金的最大好处是,在确定公司的应税所得时,先减除利息费用。
In 2002, funds raised through issuing stocks and share rights at Shanghai and Shenzhen stock exchanges were 96.2 billion yuan, a decrease of 29.0 billion yuan over the previous year.
全年在上海、深圳证券交易所通过发行、配售股票共筹集资金962亿元，比上年减少290亿元。
But more recently, an increasing number of Mainland-related banks and enterprises have raised funds through issuance of negotiable certificates of deposit, bonds and shares.
不过，近年愈来愈多内地银行及企业采用发行可转让存款证、债券及股票等方式筹集资金。