持股成本

大小非的超低持股成本保证了他们减持可获得可观的收益。

The size of the non-ultra-low cost of ownership ensures that their holdings will be handsome gains .

2008年，这家公司在年报中称，它手中的《华盛顿邮报》股票价值6.74亿美元（41.59亿元人民币），持股成本1100万美元（6787万元人民币）。

In 2008 , Berkshire in its annual report said the position was worth $ 674 million and had a cost basis of $ 11 million .

由于原有的非流通股股东超低的持股成本和资本市场价值的高估，大小非开始疯狂的减持操作。

The ultra low cost of the stocks hold by the original non-tradable shares , besides , the overestimate of the value of the capital market , have led to a crazy reduction .

市场行情好转、低持股成本和减持过程中可能采取的一些关联性策略等，这些被视为促使股东减持的有利部条件。

Improved market conditions , low holding costs and reduction process may take some of the association strategy , which is considered to promote the beneficial shareholders of the Ministry of reduction conditions .

独立董事和管理层持股对代理成本的影响分析

The Impact of Independent Directors and Managers ' Shareholding on Agency Costs by Empirical Analysis

研究发现，机构投资者持股比例和监督成本是影响机构投资者是否监督盈余管理的重要因素。

The study found that institutional shareholding and the cost of supervision are important factors in supervision .

而在我国特殊的制度环境下，上市公司股权集中有利于抑制代理成本的产生，股权制衡却未能起到其应有的制衡作用，机构持股者对代理成本有显著的抑制作用。

In the special system environment of China , the listed company focused on help inhibit the agency shares the cost of production , stock checks and balances has failed to play its proper checks and balances , institutional holders on the agency costs are significantly inhibited .