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Because of stock market's low efficiency,listed companies'internal control,stock financing's low cost and capital market's structural flaw,the listed companies of our country show strong stock financing preference on the choosing of refinancing method.

摘 要：由于股票市场的低效率、上市公司严重的内部人控制、股权融资的低成本以及资本市场的结构性缺陷等原因，我国上市公司在再融资方式的选择上，呈现出强烈的股权融资偏好。

The conclusions are as follows:(1) The mispricing in the stock market is the extrinsic motivation of Chinese listed companies stock financing preference. There are two considerations of stock financing preference.

本文在综合借鉴并吸收了国内外相关研究文献精华的基础上，结合行为金融理论，在非有效市场假设下，建立不同模型，对我国上市公司偏好股权融资的内外部动因进行了实证研究，并得到了如下结论：(1)股票市场的错误定价是造成上市公司股权融资偏好的外部原因。

With the reform experimental unit's pulsion of state-owned business bank stock system, how to establish an efficient governing organization of joint-stock company after stock recombination, how to draft rational responsible division, power allocation and interest adjustment system, how to deal with the entrust after the separation of ownership and managerial authority—the agency relationship, become the focus which theory world and bank worker are concerned with.

随着国有商业银行股份制改革试点的推进，如何在股份化后建立有效的股份公司制治理结构，制定科学合理的责任划分、权利分配和利益调节制度，处理好所有权和经营权分离后委托——代理关系，成为理论界和银行工作者关注的焦点。

For margin financing and stock index futures at the same time whether the two new business applications, the SFC explained that the persons concerned,"that" referred to re-apply for new businesses are two of the ceiling,"financing financial Coupons can be, but sub-index futures to self or brokers, if the stock index futures brokerage business to apply, then only the futures companies, and stock index futures have been self-approval of the SFC in order to do so."

同时是否两个新的业务申请后，证监会解释说，有关人士"，即"是指重新申请新的企业是两个限额"融资的财务优惠券可以，但撒哈拉指数期货自我或经纪人，如果股票指数期货经纪业务的申请，那么只有期货公司，股票指数期货价格已经自我证监会审批，为了做到这一点。"

So far, according to the history of mankind written speculative stock market frenzy of the outcome of Statistics, the stock market after the burst of speculative fever, stock prices usually fall.

到目前为止，根据人类历史上的书面投机性股票的统计结果，市场的狂热，后的投机热爆裂股票市场，股票价格通常会下跌。

And the superior decision-making is selected which base on completely check and the staidness investigate and make the best of the data to calculate and scientific calculation .the second aspect analyses the investment of stock cerificate: the purpose that enterprise invests long-term stock certificate is obtain the certain investment income by making use of the idle funds .in the long-term stock certificate, investor the appearance of option is another revolution in decision-making..

第二方面从证券投资进行分析：企业进行长期证券投资的目的是为了利用闲置资金来获取一定的投资收益。

This paper puts forward a univariate AR(1) model that relates stock price,stock returns and dividends to study stock returns autocorrelation function, and adoptsa variance decomposition to analyze variation between expected steek returns and unexpeetedstock returns.

提出一种联系股票价格、股票收益及股息的单变量回归模型来研究股票收益的自校正，并采用变量分解法探讨股票预期收益与非预期收益两者之间的变动关系。

"Stock Certificate" includes "stock certificate" and "stock certificates".

合同中的"股票"，包括单数与复数。

That I fell the day before the stock market clearing price is 9.15 yuan, to earn profits of 700-odd; the next day on the stock market fell, and continued for a few weeks, I am the lowest in its stock price has been 8.2 yuan to buy 600 shares, the successful hunters.

那次我在股市下跌的前一天清仓，股价是9.15元，赚取了700多元的利润；第二天股市就跌了下来，并持续了数个星期，我在其股价最低时已8.2元买进了600股，成功地抄底。

Based on this formula,the cost of stock is determined by the stock value,increase tolerance,and stock dividend.

对于股票价值的评估方法有很多种，但现金流量法仍是当前确定股票投资价值的主

Since historical times,England ,where the early inhabitants were Celts, has been conquered three times .

从有历史以来，英国，在此地早期居住的是凯尔特人，已经被征服了三次。

Bluetooth OBEX File Transfer Enables the sending and receiving of files on your phone via Bluetooth.

蓝牙OBEX文件移动允许经过蓝牙传送和接受文件。。。。