作业帮英语翻译With the help of the unique delisting and rights issuing
来源：学生作业帮 编辑：拍题作业网作业帮 分类：英语作业 时间：2024/04/27 06:20:30
英语翻译
With the help of the unique delisting and rights issuing regulations in China mentioned above,in this paper,we are able to differentiate firms in sound financial conditions when controlling shareholders have strong incentive to tunnel from firms in poor financial conditions when controlling shareholders are more likely to prop.Generally speaking,when a firm is designated as ST,PT or *ST,it is in poor financial conditions and it is facing the risk of delisting.When a firm is in a time period during which it successfully obtain the right to issue new shares,it must be in healthy financial conditions since neither the risk of delisting or the risk of losing rights to issue new shares exists.It is important to note that,in other conditions when a firm does not face the risk of delisting or losing rights to issue new shares,the incentives of tunneling or propping is less clear to identify.If a firm does not need or intend to issue new shares,tunneling is likely to occur.If a firm needs to issue new shares in the near future,to meet the issuance requirements,it is more likely for the controlling shareholders to prop up the firm rather than to tunnel.
With the help of the unique delisting and rights issuing regulations in China mentioned above,in this paper,we are able to differentiate firms in sound financial conditions when controlling shareholders have strong incentive to tunnel from firms in poor financial conditions when controlling shareholders are more likely to prop.Generally speaking,when a firm is designated as ST,PT or *ST,it is in poor financial conditions and it is facing the risk of delisting.When a firm is in a time period during which it successfully obtain the right to issue new shares,it must be in healthy financial conditions since neither the risk of delisting or the risk of losing rights to issue new shares exists.It is important to note that,in other conditions when a firm does not face the risk of delisting or losing rights to issue new shares,the incentives of tunneling or propping is less clear to identify.If a firm does not need or intend to issue new shares,tunneling is likely to occur.If a firm needs to issue new shares in the near future,to meet the issuance requirements,it is more likely for the controlling shareholders to prop up the firm rather than to tunnel.
借助于目前独特的摘牌和新股发行制度,我们能够将经济健全的企业区分出来,因为这类企业的控股股东有很强的动机要么去收购那些经济基础濒临奔溃的企业,要么给予其支撑帮其度过难关.一般来讲,当一个企业被划为ST,PT 或 *ST的时候,那么可以肯定他已经处于破产并即将被摘牌.反之,当一个企业成功获得发行新股的权力的时候,我们可以肯定这个企业经济状况良好,他不会面临被摘牌的风险.有一点很重要,当一个企业既不存在被摘牌的风险又没有失去发行新股的权力的时候,我们很难知道他是否有收购或支撑其他企业的动机.但如果一个企业没有任何打算去发行新股的时候,那么他收购行为很有可能发生.如果一个企业由于发行期已到,他需要在近期发行新股,那么他的控股股东更有可能去将濒临破产企业支撑起来而不是将其收购.
我是外行,尽力了.
我是外行,尽力了.
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