实际资本

虚拟资本及其与实际资本关系探析

New Research on Fictitious Capital and the Relationship with Actual Capital

虚拟资本运动具有独立性并从两个方面影响实际资本运动。

In both ways , the movement of fictitious capital affects the movement of actual capital .

并且，这必须是以真实资产为基础的实际资本。

Furthermore , this must be real capital against actual assets .

转型期虚拟资本与实际资本的关系及其影响

The Relationship and Influence of Fictitious Capital and Physical Capital in Transition

但四个南欧国家的政府已经将这些资产归类为实际资本，因此它们的确仍然计算在内。

But the four southern European states have classified them so that they do still count .

正如南山举步维艰的销售情况所显示的，实际资本流动会更难于管理。

As Nan Shan 's stumbling sale shows , actual capital flows will be harder to manage .

要创建实际资本，美联储必须以高于市场的价格直接购买价值受损的担保品。

To create real capital it would need to make outright purchases of impaired collateral at above-market prices .

非正态稳定帕雷托分布与长期相关性能够很好地描述实际资本市场的非线性动态价格行为。

However , non-normality stable Paretian distribution and long-memory can constitute the best possible approximation of the price behavior .

近日平安集团已向平安寿险增资200亿元，以期恢复其实际资本水平。

Recently , Ping An Insurance Group increases 20,000,000,000 Yuan to Ping An Life , hoping to restore the level of real capital .

另外，公司层面特征变量对实际资本结构决定和对目标资本结构的拟合也具有显著作用。

In addition , the company level characteristic variables play an important role on the actual capital structure and the target capital structure .

这时，银行就需要补充实际资本，或者调整业务结构，降低经济资本总量。

At this time , banks will need to add actual capital or adjust their business structure , reducing the total economic capital .

开发西部地区的有效战略必须包括实际资本、人力资本以及制度资本的形成。

An effective strategy to develop the western provinces must therefore encompass physical capital formation , human capital formation , and institutional capital formation .

偿付能力充足率即资本充足率，是指保险公司的实际资本与最低资本的比率。

The solvency ratio , i.e.the capital adequacy ratio , refers to the ratio between an insurance company 's actual capital and the minimum capital .

但在生产经营过程中，受内外因素的共同影响，企业资本结构决策无法完全遵循价值最大化原则，从而实际资本结构长期偏离目标水平。

However , in the process of production and operation , the capital structure decision is not completely follow the " value maximization " Principle .

对基金业绩的持续性分析不但可以衡量基金经理人的实际资本运作能力，还可为投资者提供决策参考。

The performance persistence analysis not only can evaluate fund managers ' capability to operate the fund , but also can provide investment decisions for investors .

无论国债作为实际资本，还是国债作为虚拟资本，它们都是在运动中增值，因而又是实际资本运动和虚拟资本运动的统一体。

On the basis of such an analysis , national debt includes both actual capital and simulated capital , and is a unity of the two .

其实质是资本关系向全球的扩张。虚拟资本及其与实际资本关系探析

Its true nature is the spreading of the capital relation to the whole world . New Research on Fictitious Capital and the Relationship with Actual Capital

公司存在随时间和个体变化的最优资本结构，且多数影响实际资本结构的因素同时也会影响公司最优资本结构。

There is optimal capital structure for each company per year , and most of determinants that influence real capital structure can also influence optimal capital structure .

实证结果表明，实际资本结构与目标资本结构的差距、企业规模对调整速率具有显著的影响。

The findings are that the gap between the firm 's actual and its target debt ratios and firm size have remarkable effect on the adjustment speed .

旅游联合体的概念早些年前即已流行，这种没有企业实际资本关联的合作适宜于发挥规模效应，降低旅游企业采购成本，缺陷是无法催化企业间的融合兼并和发展壮大。

Tourism alliance is a cooperation mode prevails for years , without actually associated in capitals it plays a scale effect in cost control but short in integration or expansion .

生产能力利用率的周期性变动，会导致实际资本投入的波动高于观察到的资本投入波动，从而导致利用观察数据测量到的全要素生产率的波动高于实际的技术波动。

The procyclical change of capacity utilization will lead to higher fluctuations of the actual capital investment than the observed capital investment fluctuations , leading a higher TFP fluctuation than the actual technology fluctuation .

由于中国在不同的经济发展阶段、不同制度环境下，资本外逃的范围可能不同，因此本文对资金来源和剔除项目进行了分阶段调整，使结果尽可能接近我国的实际资本外逃额。

As the scope of capital flight varies with different stages of economic development and different institutions , we process the data in stages , trying to get the result closest to the reality .

也许大家会问，要让实际资本利得每年增长4.5%（算上通胀的话是6.5%），总利润得增长多快呢？

How fast do total profits need to expand , you might ask , to generate a real capital gain of 4.5 % a year & or a 6.5 % capital gain including inflation ?

在这中间的二十年，黄金的实际资本损失超过80%，比任何可比期间股市回报的表现都要差得多。

Over the intervening two decades , gold delivered a capital loss of more than 80 per cent in real terms , a performance far worse than any comparable period of equity market returns .

在此基础上，本文选择了其中多个影响因素作为解释变量，通过构建静态和动态资本结构模型，分别对实际资本结构、最优资本结构及其动态调整速率的影响因素做实证分析。

Base on the analyses above , this paper selects several factors as independent variables , analyzes the determinants of real capital structure , optimal capital structure and the speed of adjustment , by designing static and dynamic models .

但是在用于评估投资时，其惯例是用来计算折旧后和税前的利润，还要将项目接受后，所需的任何周转资金的增加包括进实际资本中。

But normal practice in its use for investment appraisal is to calculate profit after depreciation but before any allowance for taxation , and to include in capital employed any increases in working capital that would be required if the project were accepted .

目前研究企业资本结构影响因素的实证文献已是汗牛充栋，大多数学者在研究中都把企业的实际资本结构作为被解释变量，把企业特征因素作为解释变量进行了一系列的研究。

The current number of the empirical literatures studying factors affecting capital structure are voluminous , yet most scholars in the study regarded the actual capital structure as explanatory variables , and the firm characteristics factors as explanatory variables in their series of studies .

其主要缺陷在于：这些指标没有考虑企业的实际资本成本，容易导致公司管理层行为短期化以及存在盈余操纵的空间等。

Their main defects is lain in having too many restrictions of revealing financial data to outside , not embracing the enterprise 's actual capital cost , apt to leading to the administration and supervision authorities act and effort for expediency and exist space of surplus manipulation .

不合理地或不恰当地过高地估计了（一个公司）的实际的资本价值。

Estimate the capital value of ( a company ) at an unreasonably or unlawfully high level .

基于传统的人力资本贡献度量模型，本文在提出与界定潜在人力资本与实际人力资本内涵的基础上，构建了人力资本转化模型，系统的阐述了潜在人力资本向实际人力资本转化的过程。

Based on limiting concept of hidden human capital and actual human capital , the paper puts forward latent human capital transformation model .