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上市公司股權结构与超募资金股权投资的研究——基于深交所中小板上市公司.pdf 44页
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--------------------------Page1------------------------------摘要“超募资金”是企业公开发行股票时实际募集资金规模超过计划募集金额的部分。规模庞大的超募资金使用效果影响着社会资源的配置效率。作为超募资金的一个重要投资方向，股权投资绩效在很大程度上影响着超募资金的投资效果。作为影响公司治理的一个重要因素，股权结构是影响超募资金股权投资的重要变量。本文基于中小板上市公司股权结构的特点，以年上市的257家中小板公司为样本，从股权集中度、股权制衡以及高管持股三个角度研究了股权结构对超募资金股权投资的影响。本文研究发现，股权集中度同超募资金使用进度以及股权投资绩效正相关，而股权制衡对这两者没有显著影响，高管持股比例越高，超募资金使用进度越快，但是却伴随着股权投资绩效的下降。这表明，较高的股权集中度带来了较好的超募资金股权投资效果，股权制衡没有发挥提高资金使用效果的作用，而高管持股恶化了超募资金股权投资状况。文章根据研究发现，从这三个角度对提高超募资金股权投资绩效，提出了保持大股东对企业的掌控力，健全股权制衡机制并且增加管理层的流动性的建议。关键词：股权结构，超募资金，股权投资I--------------------------Page2------------------------------Abstract“Overraisedfund”meansthefundactuallyraisedmorethanexpectedtoraiseduringtheinitialpublicoffering.Theresultofuseofsuchhugeamountofoverraisedfundexercisessignificantinfluenceoversocialresourceallocationefficiency.Asanimportantaspectofinvestmentoftheoverraisedfund,theperformanceofequityinvestmentwouldaffectitsresult.Andownershipstructure,asacrucialfactorofcorporategovernance,couldaffecttheperformanceofequityinvestment.Thispaper,using257companieslistedinSMEboardbetween2009and2010assimples,studieseffectsofownershipconcentration,ownershipbalanceandexecutiveholdingonequityinvestmentbasedonfeaturesofownershipstructureofthesecompanies.Theresearchfindsthatownershipconcentrationispositivelycorrelatedwiththeuseprogressofoverraisedfundandtheperformanceofequityinvestment,andownershipbalanceisn’tcorrelatedwiththemwhileexecutiveholdingisnegativelycorrelatedwiththem.Thefindingsshowthatrelativelyhighownershipconcentrationcreatesgoodperformanceofequityinvestment,ownershipbalancedoesn’tplayaroleinraisingitsperformance,andexecutiveholdingworsenstheresultsoftheequityinvestment.Thispapersuggestskeepingthecontrolofthecompanybylargeshareholders,completingownershipbalancemechanismandincreasingliquidityofthemanagementtoincreasetheperformanceofequityinvestmentbyoverraisedfund,.Keywords：OwnershipStructure，OverraisedFund，EquityInvestmentII--------------------------Page3------------------------------目录第1章引言...
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上市公司終极控制权与公司绩效关系研究.pdf 50页
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--------------------------Page1------------------------------上市公司终极控制权与公司绩效关系研究摘要在公司治理领域的研究中，控制权问题一直是众多学者们关注的焦点。而随着研究的深入，终极控制权也日益为研究者所重视。终极控制权是我国证券市场许多不规范行为的重要症结所在。上市公司的终极控制人通过建立金字塔式的控股结构或者交叉持股等方式取得对目标公司的控制权，由此实现以较少的股份掌握较大的控制权的效果。这种控制方式的显著特点是产生了终极控制权与现金流量权的偏离，由此可能导致终极控制人对中小投资者利益的侵害。本文以年深圳证券交易所的上市公司为研究对象，采用规范研究与实证研究相结合的研究方法对我国上市公司的终极控制权问题进行分析，以期揭示终极控制权与公司绩效的关系，并提出相应的对策建议。全文分为五章，主要内容如下：第一章回顾了国内外涉及终极控制权的相关文献，这些文献从不同角度对终极控制权的影响进行了研究，为本文的研究开拓了思路。第二章阐述了终极控制权的理论基础，主要有社会契约理论和委托——代理理论，并对终极控制权的内涵进行了界定。第三章对终极控制权与公司绩效的相关要素进行了分析，详细定义和论述了终极控制权性质及控制权与现金流量权的偏离。第四章是实证分析部分，通过描述性统计和多元回归方式分析了终极控制权与公司绩效的关系。第五章为结论部分，提出了相应的对策建议。本文得出的主要结论有：我国的上市公司终极控制人性质为国有的比重明显高于私有，股权结构中国有股占优的现象仍较为普遍；上市公司的股权集中度高且两权偏离明显，一股独大的现象并未得到根本上的转变；国有控股上市公司绩效优于民营控股上市公司；现金流量权比例与公司绩效正相关；两权偏离度与公司绩效负相关；终极控制权和董事长与总经理两职合一与公司绩效相关性不显著。关键词：上市公司，终极控制权，公司绩效I万方数据--------------------------Page2------------------------------ResearchontheRelationshipbetweenUltimateControlRightsinListedCompaniesandCorporationPerformanceAbstractResearchofcorporategovernancebasedoncontrolrightshasalwaysbeenthefocusforresearchers.Andwiththedevelopmenttothedepth,moreattentionhasbeenpaidtoultimatecontrolrights.Thecentralproblemthatalotofnonstandardbehaviorsofsecuritymarketofourcountryisultimatecontrolrights.Theultimatecontrollerscontrolthecorporationbypyramids-shareholdingsorcross-shareholdingsandthecharacteristicisadeviationbetweenthecontrolrightsandthecashflowrights.Itmayleadtotheresultthatproprietaryshareholdersexploitthemediumandsmallinvestorsheavily.Thisarticleregardslistedcompanyfromastheresearchobject,combineswithcriterionstudyandempiricalresearchmethodinordertoanalysisontherelationshipbetweenultimatecontrolrightsandcorporateperformanceandputsforwardsomecountermeasures.Therearefivechaptersinthearticleandthemaincontentisasfollow:Chapteroneputsforwardtheincentiveandmeaningsoftheresearchandreviewstherelatedliteratures.Theseliteraturesresearchultimatecontrolrightatadifferentangleandopenupanewwayforthearticle.Chaptertwofirstlydescrib
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分解炉参数化建模与有限元研究.pdf 56页
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分解炉参数化建模与有限元研究
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KEYWORDS：cementrotarykiln，decomposingfurnace，re-development，finite-elementanalysis，parametricdesign，APDL目录 第一章绪论····················································································1 1.1研究背景及意义······································································1 1.2国内外研究现状······································································4 1.2.1预分解窑技术·································································5 1.2.2SolidWorks二次开发的研究现状··········································6 1.2.3分解炉的优化设计···························································6 1.3本文主要研究内容···································································7 第二章窑尾预热器分解炉的参数化设计················································9 2.1引言·····················································································9 2.2参数化设计············································································9 2.2.1参数化设计概述······························································9 2.2.2常用的参数化设计方法·····················································9 2.2.3参数化实现方法·····························································10 2.3SolidWorks软件二次开发·························································10 2.3.1SolidWorks软件介绍·······················································10 2.3.2CAD二次开发技术·························································11 2.3.3SolidWorks二次开发工具的选择·········································12 2.4分解炉的SolidWorks二次开发··················································13 2.4.1二次开发流程································································13 2.4.2SolidWorks三维虚拟零部件自动化造型································14 2.4.3SolidWorks三维虚拟零部件自动化装配································20 2.5小结····················································································25 第三章窑尾预热器分解炉有限元分析··················································27 3.1引言····················································································27 3.2有限元分析及APDL·······························
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改性环氧树脂酚醛树脂粘结SiC颗粒复合材料的腐蚀磨损性能的研究.pdf 58页
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改性环氧树脂酚醛树脂粘结SiC颗粒复合材料的腐蚀磨损性能的研究
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AbslractTit!G:REASEARCHONTHECORROSIVE一WEARPROPERTIESOFMODIFIEDEPOXYRESINIPHENOL!CRESINADH!B!TINGS!CpARTICLESCOMPOSITESMajor:MaterialScienceandEngineeringName:BenjiaLiSuPervisor:Prof.ZhenlinLuSignature:5ignatureAbst怕CtTheCorosive一wearPhenomenon15widesPreadinthefieldofmaehineryequiPmeniaboutPetroleuxn，chemiealfiber，andeoalelectrieityindustries.fl15themainreasontomaketheseindustriesmachineryequiPmentandeomPonenisdamagedforfailure.Therefore，thereseareh.anddevelopmeniofneWwear-resistantmaterialtoi哪rovetheservicelifeofwearparts，reducematerialandenergyeonsumPtion，imProveeeonomieefieiencywasveryimPortantsignifieance·InthisPaper，PreParedamodifiedePoxyresin/PhenolieresinadhesiveSICP叭ieulateeomPosites，theeorosionwearbehaviorofsueheompositeswasstudiedbyusingthree一bodyeormsionweartester，fromwhiehsystematicstUdytheeormsionresistaneeofeomPositesaboutthematrixresin，e而ngagents，eouPlingagents，tougheningagents，aswellasP叭ielesizeandaddingfillervolumeinaeidie，neutral，andalkalinesolution，andanalysistheirwearmeehanisms.Andfinally，weobtainedthebestformulatosolutionadhesivesresistanttoeormsionandwearProPertiesinacidie，neutralandalkaline.Researehresultshowsthat:Theanti一eorosionwearabilityofmodifiedePoxyresinadhesiveSICP叭ieulateeomPositesinvariousofeorosivemediaenvironmentwereasfollows:neutral&alkaline&Theanti一eorosionwearabilityofmodifiedPhenolieresinadhesiveSICPartieulateeomPositesinv面ousofeormsivemediaenvironmentwereasfollows:neutra】&aeidie&alkaline.Theadditionofe而ngagentsaceeleratestherateoftheresintoformaeross一linkednetworkstructure.WhentheT-31addingamountZOwt%，35wt%and40wt%ofeolloidal，theeorosion一wearPerformaneeofthemodifiedePoxyresinadhesiveSICPartieulateeomPositeswasthebestinneutral、alkalineandacidie:Whentheamountofbenzenesulfonylehloridefor1lwt%，themeehaniealProPertiesandcormsive一wearPerformaneeofthemodifiedPhenolie、了夕西安理工大学硕士学位论文resinadhesiveSICPartieulateeomPositeswasthebest.WhenthecouPlingagentsandthetougheningagentsjoin丽theomPosites，theadhesionPe而rmaneeoftheres
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技術表现中的多元共生创作思想研究.pdf 86页
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技術表现中的多元共生创作思想研究
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哈尔滨工业大学建筑学硕士学位论文AbstractTechnologicalexpressionisthehotspotatpresent.Devotedtothebackgroundofhumanisticoutlook,thisthesisstartswiththeanalysisofthecurrentsituationoftecstudiestheconversionoftechnologicconvertsarchitecturalcrinvestigatessystematicallythetimebackground,inherentagentsanddevelopingtrendsoftheproductoftechnologicalexpression’inquiresintonewtendency,newideologicaltrendoftecdemonstratesandrevealsthatmultivariatesymbiosiswillbethedirectionanddevelopmentoftechnologicalarchitecture.Thestudyoncreativemethodsoftechnologicalexpression,ingtothelastsummaryandintrospectionofpracticeandstrivingtohavebenefitsforcreationslatter,thethesistakesarealproject—theHarbinInternationalExhibitionandConventionCenterextendingandreplenishingthewholecontentfromprofundityandrangeinthecombinationbetweentheoryandpractice.Themeaningoftechnologicalexpressioninthethesisistheclaimthatsomefactorssuchasmaterial,structureandfacilitiesofarchitectureareconveyedinconstructionactivities.Proceedingfromscience,technologyandtechnologicalaesthetics,thefullrepresentationoftechnologicalexpressionisbyprobingintotheinherentcontactingmethodsofnewstructures,newmaterials,newtechnologiesandnewfacilitieswitharchitecturalmouldsandbyadoptingnewforms,newnodesandnewconstructionaldetails.Itisreallynotapatentonlyforhigh-techarchitects.Mainarchitecturaltrendsatpresentallmakeuseoftechnologicallyexpressivemethodstotransmitaestheticintentionsoftheinformationsocietymoreorlessandreflectperiodicfeelings.Themultivariatesymbiosisinquiredinthethesisisthetime-changeoftechnologicalexpressioninanewperiod.Asacreativeideaoftechnologicallyexpressivearchitecture,itcanbeconcludedinfourapproacheswhichare:symbiosiswithtraditionalculturalfactors,geographicclimatefactors,naturalformationfa
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