资本利益

There are a lot of forms such as human relations, network of guilds and profit-communities between companies and the Government in Wenzhou. The social capital's externalities in the development are diplex, and the negative side is becoming more and more obvious.

社会资本在温州主要包括人情关系、行业协会网络、企业与政府利益共同体等多种形式，它对经济发展有着双重的外部性，并且其消极影响越来越大。

Stimulated by the illusion of free capital, Chinese listed companies show strong preference to equity financing, and form the financing structure of low debt and high equity. Under the circumstance of law efficient capital market, distempered financing institution, and underdeveloped control transfer market, such kind of financing structure enlarges interest conflicts between stockholders and managements, and lowers the governance efficiency.

我国上市公司在免费资本幻觉的驱使下表现出强烈的股权融资偏好，形成了重股权、轻债权的融资结构，在目前我国证券市场低效、控制权市场欠发达、融资制度不健全的情况下，这种融资结构加大了股东与经理人之间的利益冲突，降低了公司的治理效率。

"Control" of a Person means ownership of more than 50% of the shares in issue or other equity interests or registered capital of such Person or the power to direct or influence the management or policies of such Person.

"控制"的人拥有超过50%的股份发行或其他具有股权性质之利益或注册资本为这样的人或能力直接或影响管理或政策的人。

Many people will be the "fissile" attributed to the interests of disputes between partners, but also analysis of the industry think is the capital and managers due to the contradiction between.

许多人将是"裂变"由于利益的合作伙伴之间的争端，而且还分析认为，是该行业的资本和管理人员，由于之间的矛盾。

Profs Bebchuk and Spamann add that four features of the modern financial system make the situation even worse: first, the capital of banks is itself partly funded by debt; second, the role of bank holding companies may further increase the incentives of shareholders to underplay risk; third, managers are rewarded for aligning their interests with those of shareholders; and, fourth, some of the ways managers are rewarded options, for example are themselves a geared play on rewards to shareholders.

拜伯切克和斯班曼教授补充道，现代金融体系的4个特征令情况更加恶化：首先，银行资本本身就有一部分来自债务；其次，银行控股公司的职能，可能会进一步增加股东不重视风险的动机；第三，管理层因为让自己的利益与股东相一致而受到奖励；第四，管理层获得奖励的某些方式，本身就与股东回报息息相关。

By learning the experiences of foreign muture capital market,we can go into actions as follows to upgrade china's delisting system:First of all,we need to estabilish a multi-levels market system which involves main board market,second-board market,OTC market etc.Second,we need to further upgrade the delisting rules,elevate the delist standard and reinforce the capabilities to delist.

通过对国外成熟资本市场的经验借鉴，完善我国退市制度可以从以下几方面着手：一、建立包括主板市场、二板市场、场外交易市场及分散的柜台交易市场的多层级市场体系；二、进一步完善退市立法及完善退市标准和提高退市程序的可操作性；三、健全社会保障体系，有效保障投资者利益等等。

In response, China last night safely in its announcement made it clear that regardless of whether the three in the Quarterly Bulletin of the Fortis shares provision for impairment of investment capital and solvency is still very adequate, still robust financial, insurance, banking, Trust, securities and other main business is healthy growth, good customer rights and interests will be adequately protected.

对此，中国昨晚在其安全公告明确表示，无论这三个在富通股票的投资资本和偿付能力减值拨备季报仍然十分充足，仍然强劲的金融，保险，银行，信托，证券和其他主要业务是健康成长，良好的客户的权利和利益将得到充分的保障。

Factors that could affect results include the ability to market and sell products; changes in relationships with strategic partners and reliance on strategic partners for the performance of critical activities under collaborative arrangements; failure of distributors or other customers to meet purchase forecasts or minimum purchase requirements for our products; impact of competitors, competing products and technology changes; ability to develop, commercialize and market new products; market acceptance of oral fluid testing or other new products or technology; changes in market acceptance based on product performance; continued bulk purchases by customers, including governmental agencies, and the ability to fully deploy those purchases in a timely manner; ability to fund research and development and other products and operations; ability to obtain and maintain new or existing product distribution channels; reliance on sole supply sources for critical product components; availability of related products produced by third parties; ability to obtain, and timing and cost of obtaining, necessary regulatory approval for new products or new indications or applications for existing products; ability to comply with applicable regulatory requirements; history of losses and ability to achieve sustained profitability; volatility of our stock price; uncertainty relating to patent protection and potential patent infringement claims; uncertainty and costs of litigation relating to patents and other intellectual property; availability of licenses to patents or other technology; ability to enter into international manufacturing agreements; obstacles to international marketing and manufacturing of products; ability to sell products internationally; loss or impairment of sources of capital; ability to meet financial covenants in agreements with financial institutions; ability to retain qualified personnel; exposure to product liability, patent infringement, and other types of litigation; changes in international, federal or state laws and regulations; customer consolidations and inventory practices; equipment failures and ability to obtain needed raw materials and components; the impact of terrorist attacks and civil unrest; ability to complete consolidation or restructuring activities; ability to identify, complete and realize the full benefits of potential acquisitions; and general political, business and economic conditions.

可能影响结果的因素包括营销以及出售产品的能力；与战略合作伙伴关系的变化以及根据合作协议对战略合作伙伴执行关键活动的依赖；经销商或者其他顾客未达到我方产品的采购预测或者最低采购要求；竞争对手、竞争产品以及技术变化的影响；新产品开发、商业化以及营销的能力；市场对唾液检测、其他新产品或者技术的接收程度、基于产品效果所造成的市场接收的变化；顾客、包括政府机构的持续大宗采购以及按时完成采购的能力；资助研究、开发以及其他产品和活动的能力；获得并维持新的或者现有的产品经销渠道的能力；关键产品部件对单一供应源的依赖；第三方生产的相关产品的供应情况；新产品或者现有产品的新疗效获得必要的管制批准的能力、时间以及费用；遵守适用的管制要求的能力；亏损的历史以及实现可持续盈利的能力；股票价格的波动；与专利保护和潜在的专利侵权诉讼有关的不确定性；与专利以及其他知识产权有关的不确定性以及诉讼费用；专利以及其他技术授权的提供情况；签订国际性制造协议的能力；产品进行国际营销以及制造的障碍；国际性销售产品的能力；资本来源的损失或者减少；履行与财务机构之间协议的能力；获得合格人员的能力；产品责任、专利侵权以及其他诉讼的风险；国际、联邦或者州的法律、法规的变化；顾客合并以及存货实践；设备故障以及获得所需原材料和部件的能力；恐怖主义袭击以及内乱的影响；完成合并或者重组活动的能力；识别、完成以及实现潜在收购的全部利益的能力；一般性政治、商业、经济形势等。

Equity financing preference results in the decreasing of company finance quality and losses of investors and the deficiency of efficiency in capital market.

过度的股权融资导致了上市公司的质量下降，投资者的利益损失，降低了资本市场资源配置的效率。

In reason to use the financial leverage can give corporations bring up the extra income, that's the financial leverage incomer.

合理运用财务杠杆给企业权益资本带来的额外收益，即财务杠杆利益。

Chrysanthemum of 10 thousand birthday is lax to edaphic requirement, with the arenaceous qualitative loam with fecund, good drainage had better.

万寿菊对土壤要求不严，以肥沃。排水良好的砂质壤土为好。

He unstepped the mast and furled the sail and tied it.

他拔下桅杆，把帆卷起，系住。