Since two security markets of shenzhen and shanghai in china have been run in succession at the beginning of the 1990s , the m & a of the listed companies becomes the common phenomenon on the security market day by day 自上世纪九十年代初我国深沪两地证券市场的相继开办，上市公司并购日渐成为证券市场上的常见现象。
Through the empirical research on the problem , we can come to the conclusions that : ( 1 ) taking the 152 acquisitions as a whole , we find that the performance of those acquisitions have created the wealth for the target companies 因此,本文从实证的角度,以2001年深沪两市发生并购的152家公司为样本,利用会计研究法进行了全面严谨的实证。
Firstly , the open - end fund has the same moral risk as the close - ended fund ; the risk is due to following three major factors . these are the separation of ownership and management , the asymmetry of the information distribution , the lack of incentive system as well 4 .运用var技术对我国市场风险进行研究,并且对深沪两市股票进行了实证分析,寻找出了一些规律,对我国开放式基金市场风险管理具有一定借鉴作用。
For this reason , this paper analyses the differences between the accounting standards of our country and the international financial reporting standards ( ifrs ) . this article is based on information disclosure of b - share market in china and the process of international harmonization of accounting standards in china , and other researchers " research literature , and provides a detailed analysis and study . the whole article will be spread out in two dimensions , including the difference between profits after taxation of the dual annual reports and the value - relevance of the annual reports 本文立足于我国b股市场信息披露的要求以及我国会计改革的发展历程,在对以前学者研究文献整理的基础上,对会计准则国际化效应的状况做实证研究,研究样本选取2001 ? 2004年深沪两市的b股上市公司,并且分别从净利润差异分析与会计信息含量的比较两个方面研究。
Sheng yang clothing weave co . , ltd . is it establish in 1985 , a wholly foreign - owned export - oriented enterprise that established , registered capital is 8 million harbor , lie in the domestic and famous underclothes production base , shenhu town of jinjiang that has the praise of good name of " famous town of the chinese underwear " 胜洋服装织造有限公司始建于1985年成立，系外商独资创办的出口型企业，注册资金800万港元，位于国内着名的内衣裤生产基地，素有“中国内衣名镇”美名之称的晋江深沪镇。
We discovered that the company financing choice is positively related to the degree of product competition . according to above preliminary judgment , take the shanghai stock market for example , we use variable intercept penal data model to carry the real empirical analysis on listed - company from 1998 year to 2004 year in shanghai stock market . we concluded that the degree of product market is indeed to be able to affect the company financing choice , and the more intensity degree of product market competition , the more high debt rate 根据1998年至2004年我国深沪两市a股上市公司的财务报表数据,本文对我国上市公司的行业竞争状况和上市公司融资结构特征进行了描述性统计,发现行业竞争强度与公司融资选择之间存在正相关的趋势;根据这一初步判断,本文利用面板数据模型的确定效应变截距模型对1998年至2004年我国沪市a股上市公司进行了实证分析,得出了我国上市公司所面临的产品市场竞争强度的确会影响到上市公司融资结构的选择,并且上市公司所面临的产品市场竞争越激烈,其负债水平就越高的结论。
