不完全资本市场

因此，如何促进不完全资本市场和剥离性资产重组的共同发展就成为实践领域和理论界关注的焦点问题。

Hence how to promote the mutual development of the incomplete capital market and the stripping assets reconfiguration h.

三是探讨了在不完全资本市场条件下企业的长期投资决策问题；

The third is to probe into the questions of capital budgeting decisions in the incomplete capital market .

因此，不完全资本市场的存在是研究对冲对公司价值影响的各种理论的基础。

The existing capital market imperfections are , therefore , the basis for various positive theories about the economic impact of corporate hedging on firm value .

现实中的股票市场不可能完全符合资本市场有效性假设，因而把股票成交价格看作是股票的市场价值，并据此计算股票投资回报率的传统做法存在着明显的弊端。

The actual stock markets are by no means the ideal ones in terms of the efficient market hypothesis , therefore it is apparently inappropriate to take the stock 's price for its market value and then calculate the return of investment in the stock .

资本运营是在信息不完全与不对称的资本市场环境下进行的，因此，均会产生以逆向选择与道德陷阱为主要表现形式的信誉缺失问题。

Capital operation is conducted in a market environment where information is incomplete and asymmetric , which leads to credit loss basically by adverse selection and moral hazard .

中国货币政策的传导机制具有明显的银行贷款渠道特征，这是由利率、汇率形成机制的不完全市场化、资本市场发展滞后等制度性因素决定的。

Bank-lending channel is of the greatest importance in the transmission of monetary policy in China , which is determined by some institutional factors , such as government regulations on interest rate and exchange rate and imperfect institution structures that impede capital market 's development .