投资

With a background of heated gold investment, most new passionate investors came into the market without simply understanding the gold investment. This made many investors lost their capital when first stepped into the market. In addition, many gold exchange types are specialized in enlarging guarantee sum. Compared with investment in stock market, investors who invested in types characterized in enlarging guarantee sum would likely to face more risks and challenges. Those risks could enlarge investors' one-year loss in stock market to one-day loss in gold market. Nowadays, Chinese gold market can be differentiated into material gold market, paper gold market, in-stock gold and future gold market. Because of the enlarging system in international gold market, investors may lose to the bottom in one day if he or she chose a guarantee sum dealer with an highly enlarging system. Of course, this is an ultimate example. In gold market, the type with the least risk is material gold, such as gold memorative silver coin, material piece of gold and gold brick. Material gold investment enjoyed its popularity among middle or large cities located in the middle and eastern part of China.

在黄金投资火热的背后，是大部分新入市投资者盲目的热情，由于对黄金投资缺乏了解，很多投资者入市即被套，而且很多黄金交易品种具备保证金放大效应，和在股市投资相比，投资者炒作保证金放大品种进行投资，往往需要面对高额风险，这种风险可以使投资者在股市中一时间遭受的损失在一天内就提现出来，现在国内黄金市场主要分为实物黄金市场、纸黄金市场、黄金现货、黄金期货市场，其中国际黄金现货市场由于存在高度放大机制，如果投资者选择具备高度放大的保证金交易商，经常会出现一天内就会血本无归的情况，当然，这是极端的情况，黄金市场中，风险最小的是实物黄金，例如黄金纪念金银币、实物金条、金砖，实物黄金投资在中东部地区大中城市比较流行。

With a background of heated gold investment, most new passionate investors came into the market without simply understanding the gold investment. This made many investors lost their capital when first stepped into the market. In addition, many gold exchange types are specialized in enlarging guarantee sum. Compared with investment in stock market, investors who invested in types characterized in enlarging guarantee sum would likely to face more risks and challenges. Those risks could enlarge investors' one-year loss in stock market to one-day loss in gold market. Nowadays, Chinese gold market can be differentiated into material gold market, paper gold market, in-stock gold and future gold market. Because of the enlarging system in international gold market, investors may lose to the bottom in one day if he or she chose a guarantee sum dealer with an highly enlarging system. Of course, this is an ultimate example. In gold market, the type with the least risk is material gold, such as gold memorative silver coin, material piece of gold and gold brick. Material gold investment enjoyed its popularity among middle or large cities located in the middle and eastern part ofChina.

在黄金投资火热的背后，是大部分新入市投资者盲目的热情，由于对黄金投资缺乏了解，很多投资者入市即被套，而且很多黄金交易品种具备保证金放大效应，和在股市投资相比，投资者炒作保证金放大品种进行投资，往往需要面对高额风险，这种风险可以使投资者在股市中一年时间遭受的损失在一天内就提现出来，现在国内黄金市场主要分为实物黄金市场、纸黄金市场、黄金现货、黄金期货市场，其中国际黄金现货市场由于存在高度放大机制，如果投资者选择具备高度放大的保证金交易商，经常会出现一天内就会血本无归的情况，当然，这是极端的情况，黄金市场中，风险最小的是实物黄金，例如黄金纪念金银币、实物金条、金砖，实物黄金投资在中东部地区大中城市比较流行。

The central idea of the approach is "from idea to money", which accurately define the position of the expected benefits, analyze and design the process of benefit realization of benefits, including information system design, transform of organization structure, reorganization of work flow, enterprise culture reforger, stimulant system adjustment, at the same time, take the information system project as the same important project as the others, as a part of portfolio to be controlled according as risks and benefits. To promote every project and control the relative risk level, we need to set decision point named "stage gate", where we can evaluate the risks and benefits, then decide to enlarge or maintain or decrease or discard the investment. To ensure the promotion of the "Benefits Realization Approach", we must ensure the responsibility of the participator.

该途径的核心理念是&从概念到现金&，主要从全面管理、监控信息系统实施过程的角度出发，对信息系统预期利益进行准确定位，并对信息系统利益实现的过程进行预先分析和设计，内容涵盖了信息系统的设计以及必需的组织机构的变革、工作流程的重组、企业文化再造或调整、激励机制的调整；同时将信息系统投资视为与企业其他重大投资一样的投资项目，纳入企业的投资组合，进行风险利益分析与控制；为确保稳步推进各项目，并逐步控制风险，对项目实施过程设置了一系列决策节点，在此类节点上对项目的风险利益及现状进行评估，以决定是否加大投资、维持、减少还是撤消。

Instead, it illustrates in detail its organizational structure design, major functions of each department and the whole process of decision-making by studying a newly established venture capital company and from the viewpoint of its general manager. The decision-making process contains search of projects, scrutinization, evaluation, screening of projects, and dynamic trailing management.

本文并没有一般性地描述风险投资是什么，一般的运作机制是如何，而从一个刚刚成立的创业投资公司入手，从公司管理者的角度出发，详细地说明了创业风险投资机构的组织结构的设计，其每一个部门的主要职能，投资决策的整个过程，包括项目的寻找，受理，审查，筛选，评估，投资决策的作出及动态跟踪管理。

The innovations of this essay are following:Ⅰ, Completely investigating the theoretic introduction, practical application, and effects on investment administrant, and putting forward that China should transit gradually from dracon quantity regulation rules to prudent man rules;Ⅱ, Lucubrating the rational, negative effects, and experience tests of portfolio allocation regulation, performance regulation, and industry structure regulation of pension funds over OECD countries;Ⅲ, Analyzing the rational and sensibility of relative rate of return guarantees of pension plan, and advancing the scheme of rate of return guarantees of China;Ⅳ, First investigating the investment policy of pension plans globally using "contents analysis" over the world pension plans;Ⅴ, Lodging that portfolio diversification should be the most important risk management instrument, and presenting efficiency measure model of evaluating portfolio diversification of pension funds;Ⅵ, Lucubrating the optimal portfolio allocation model during accumulation phase and decumulation phase of pension funds; taking for that risky assets should decrease with time reducing during accumulation phase, but during decumulation risky assets should increase.

指出了本文研究的主要结论，以及研究的不足和未来研究的方向。本文研究的创新点在于：（1）从法和经济学的原理角度，全面研究了&审慎人&原则的理论解释、实践应用、对投资管理人行为影响的实证分析以及成功实施&审慎人&原则的因素分析，提出我国养老基金的投资管制应该逐步从严格的数量管制原则过渡到&审慎人&管制原则；（2）深入研究了养老基金的资产配置管制、业绩管制和产业结构管制的基本原理、负面效应、实证检验等，以及对OECD国家的国际比较；（3）研究了养老金计划的相对收益率担保的基本原理，并对其作用机制进行了敏感性分析，提出了我国收益率担保机制设计的方案；（4）首次采用&内容分析法&对国际范围内的养老金计划的投资政策进行了研究，找出了投资政策应该包含的关键要素；（5）提出组合多样化是最重要的风险控制手段，并给出了衡量养老基金组合多样化程度的效率评价模型；（6）深入研究了养老基金积累阶段和缩减阶段的最优资产配置的数量模型，认为在积累阶段对风险资产的投资应该随着时间减少，而在缩减阶段，风险资产应随着时间增加。

During the course of human capital investment of rural residents, their human capital investment ability depends on the amount of their family income and the disbursal amount of the Government's finance, including the educational payout and the medical care disbursal.

在农村居民人力资本投资过程中，他们的人力资本投资能力与其家庭收入、政府公共财政投入呈正相关关系，其人力资本投资能力大小取决于家庭与政府的资源投入量的多少，即其人力资本投资能力具体量化为在人力资本投资上的家庭收入投入量，以及政府教育性和医疗保健性公共财政的投入量的总和。

It firstly defines the concepts of investment effect and regional investment effect, deciphers the connotation, classification and influencing factors of investment effect, and establishes the basic theory framework of investment effect research.

本文从归纳区域投资效应研究的理论基础入手，首先界定了投资效应、区域投资效应的概念，解读投资效应的内涵、分类与影响因素，建立了投资效应研究的基本理论框架。

Firstly, the writer classifies the investment structure and delimitates the research scope of investment structure in this chapter.

本章首先探讨了投资效率的价值标准，并对传统的投资效率评价体系进行了评折；其次在此基础上通过调查问卷的形式，对美国和我国企业的投资效率评价指标体系进行比较，发现我国企业在投资效率评价指标体系的选择过程中，存在着诸多的不理性，回收期指标的高频率使用，折现指标的倍受冷落应该是比较贴切的概括；再次，针对我国现状，构建了理性的投资效率评价体系。

The investment in mining industry is time-consuming and irreversible, and has high level of uncertainty which engenders opportunity value of the investment.

矿业投资具有投资建设时间长、投资不可逆性和较高的不确定性等特点，矿业投资的不确定性因素形成了投资的机会价值。

The Legal System of Venture Capital legalizes the important status ofVenture Capital.

风险投资法律制度从法律上确立风险投资的重要地位，它是保护风险投资主体利益、规范风险投资行为的法律依据，也是使风险投资健康发展的重要手段。

If you are unfortunate enough to the lovelorn, please tell me, I will help you out, really, please contact me!

如果你不幸失恋了，请告诉我，我会帮助你摆脱困境，真的，请联系我啦！

China's plan to cut energy intensity by 20 percent and pollutant discharges by 10 percent between 2006 and 2010 is a case in point.

中国计划在2006年到2010间降低20%的能源强度和减少10%的主要污染物排放，就是一个这样的例子。