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stirps n.(pl. stirpes )1.種族,家系。2.【法...

stirrer

In present dissertation , most stirpses are repartitioned and redefined , and the structure characteristic , course of formation , cause of formation , function and risk of stirpses are analyzed . the main conclusions are : [ 1 ] rapid development of corporations engenders urgent demand of financing , conflict between capital market imperfection and demand of financing leads corporations to control listed corporations by purchasing “ shell “ and enhance it ' s financing capability ; [ 2 ] two kinds of pricing institution of stock provides stirpses for controlling listed corporations by low cost , monitoring institution imperfections provides corporations for operating listed corporations . adjust of national assets provides more “ shells “ ; [ 3 ] more private corporations purchase listed corporations , some of them form stirpses ; [ 4 ] stirpses have positive influence about adjusting industry and enhancing capital market financing function ; [ 5 ] stirpses magnify financial risk by controlling listed corporations , and transform listed corporations from shareholders benefit to block shareholder benefit , having tendency of infracting shareholders benefit 本文主要的結論: [ 1 ]中國企業的迅速發展對融資有迫切的要求,中國國內資本市場發展不完善與這種強烈的融資需求的沖突導致了企業尋求通過買“殼”的方式控制上市公司,以此來提高自身的融資能力; [ 2 ]中國上市公司股票的兩種定價機制為“系”低成本控制上市公司提供了可能,監管機制的不完善為“系”提供了操縱上市公司的空間,國有資產在調整過程中從部分競爭行業退出,為資本市場提供了一定數量的“殼”資源; [ 3 ]民營企業紛紛買“殼”上市,在這個過程中,部分實力突出的企業形成了“系” ; [ 4 ] “系”現象對進行行業整合、提高資本市場融資能力等方面起到了積極的作用; [ 5 ] “系”通過對上市公司進行的操縱放大了金融風險,將上市公司的股東利益最大化變為大股東利益最大化,存在著侵害小股東利益的潛在傾向。

Most of callow stirpes are developed into assimilative branches . there is a thick layer of palisade tissue under the epidermis 幼莖多發育為同化枝,表皮下有一層較厚的柵欄組織。

Studies above help to understand stirpses of capital market 以上的研究對于如何看待資本市場出現的“系”現象提供了依據。

Stirpses are remarkable in the capital market of china recently “系”現象是中國資本市場近年來一個引人注意的新現象。