No government can find a tax beyond criticisms . we must help them to make a well balanced choice from a long term point of view . i have always been impressed by the fair - mindedness of the hong kong public 没有一个政府能找到一个完全不受抨击的税制，所以，我们必须用长远角度去作出一个平衡的选择，我们甚至可考虑仿效其他国家设立一个经济顾问委员会，帮助政府评估财务政策及公众意见。
Based on the specific tax system in china , the article focuses on the tax effect on corporate financial policies . it ' s divided into four parts . in the first section , the paper reviews a great deal of relevant literature documented in journals home and abroad 本文以税收与财务政策之间的关系为研究主线，在学习、总结和吸收国外相关研究成果的基础上，结合我国税收制度，研究和探讨公司财务政策的税收效应。
In addition , this section makes an overall comprehensive analysis of and comments on the theories in the field of the tax effect on financial policies , then , summarizes the general development of the theories , and finds out the latest development of the research 全文由四章组成。第一章首先系统回顾和评述西方有关公司财务政策税收效应的研究文献，在此基础上提出了本文的研究框架和目标，最后总结了本文的主要贡献。
As one of the key financial policies for the corporations , the dividends policies are always paid much attention . the distributions of the dividends are related not only with the shareholders and the creditors , but also with the future development of the corporations 因为股利的发放既关系到公司股东和债权人的利益，又关系到公司的未来发展，所以股利政策作为企业的核心财务政策之一，一直受到各方面的密切关注。
From the perspective of taxation , the . paper explains why the firms in china tend to use higher financial leverage and why listed companies dislike distributing cash dividend . hopefully , the insight provided will fill an important gap in our understanding of this important issue 论文的研究弥补了我国在这方面理论研究的不足，阐述了我国企业高负债和股利不发放的税收方面的原固，为企业制定财务政策和政府的税收制度改革提供参考依据。
In this article , the author compares dl company ' s objective rate with its sgr , and judge the type of dl company ' s objective growth rate . then , the author points out that , in order to realize the balance between the objective growth rate and sgr , dl company should increase its sgr through raising the operation efficiency and revising the finance policy . at last , the author determines the appropriate objective growth rate in 2003 以对企业增长管理模式的理论探讨为基础，本文对dl公司2003年度的增长目标与其可持续增长率进行了详细的分析，判断其增长目标的类型，从提高经营效率和改变财务政策两方面入手提高其可持续增长率，从而实现其增长目标的平衡，并最终确定了dl公司2003年度的适度目标增长率。
The traffic administration should emphasize on fastening the management of raising money and broaden the channels of raising money even more . in this situation , the financial management of expressway management corporation should avoid the mistaken of raising maximum money , and aim at maximizing the value of company stably , by the reasonable management , and adopt the optimum financial policy , with the situation our considering the funds time value and risk reward , and continuously increase corporation riches , and make corporation total values to the maximum 在这种形势下，高速公路经营公司的财务管理应避免筹资最大化的误区，坚定地以公司价值最大化为财务目标，通过合理经营，采用最优的财务政策，在考虑资金的时间价值和风险报酬的情况下不断增加公司财富，使公司总价值达到最大。
After a summary of mm irrelevant theory , i study how the corporate income taxes , personal income tax and capital gains tax affect the value of the firm . at the end of this section , i formulate a state preference general equilibrium model about tax effect on the corporate capital structure decisions on a basis of the taxation in china 应用现代资本资产定价理论，本章首先回顾了mm的资本结构无关理论，接着讨论公司所得税、个11 k司财务政策的税收效应研究人所得税和资本利得税对公司资本结构的影响。
According to budget and finance policy and procedure , to monitor and review the accuracy of expenditures of program unit and communities ; to make and manage weekly , monthly and yearly budget of program unit , follow expenditure process and analyze the deviation between actual expenditure and budget and to provide finance support and training for pu staff , partners and communities , monitor and review programs financially 根据预算、财务政策及程序对县办和社区项目各种支出的合理性与准确性进行监测审核；编制并管理县办周、月、年预算，跟踪花费进度，分析实际花费与预算之间产生差异的主要原因为县办员工、合作伙伴及社区提供财务支持和培训，对项目进行财务监督和审核。
Secondly , in the current structure of soes , the state equity and other stakeholders " equities cannot be protected and efficiency is very bad . if stakeholder structure is used , all these problems may be solved . thirdly , these problems may be solved by right finance policy 第三，国有企业的高负债融资结构、低股利政策、资本市场及各项市场法规不健全既是国有企业本身结构缺陷造成的结果，又是其原因，因此，制定适宜的财务政策、加强财务监管既能敝利益相关者的利益，又能确保企业价值最大化的实现。
