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美国硕士论文代写:在中国首次公开发行(ipo)

美国硕士论文代写:在中国首次公开发行(ipo)

中国首次公开发行股票的表现有了不同的研究。它已经表明,上世纪90年代期间IPO期间被严重低估。这在A和B型类股都是适用的(莫晖,1998)。

原因下的IPO定价是主要差异的公司所有权结构,上市和发行公司和不对称信息公开贡献这下定价之间的滞后。

另据透露,这些被低估的新股,公司给投资者更多的价值(苏Fleisher,1999)。

另一项研究显示,公司资产的平均收益率即为资产,在今年首次发行股票时,其资产的平均收益率为峰值。但它拒绝在以下的IPO申报后年(Aharony,2000)。

在公司的资产的平均回报率的下降是微不足道的行业,受到保护。这种保护工业的例子是石油化工,能源和原材料。这些属于这些行业的公司受到中国政府的特别青睐。

美国硕士论文代写:在中国首次公开发行(ipo)

There have been various researches done on the performance of the IPO’s of China. It has been shown that during the1990s period IPO was severely underpriced. This was applicable in both A and B type category shares (Mok & Hui, 1998).

The reasons for under pricing of the IPOs were mainly difference in the structure of the ownership of the firm, lag between the listing and offering of the firm and asymmetry in the information available publicly contributed to this under pricing.

It was also revealed that these IPOs were underpriced by the firm in order to give more value to the investors (Su and Fleisher, 1999).

Another research revealed that the mean return of the firm’s assets i.e. return on their assets was at the peak during the year in which the IPO was released. However it declined in the following years after the declaration of the IPO (Aharony, 2000).

The decrease in the mean return on firm’s assets was insignificant statistically for industries which were protected. Examples of such protected industries are petrochemicals, energy and raw materials. These firms belonging to these industries receive special favour from the government of China.

美国硕士论文代写:开放和封闭源代码的技术比较

美国硕士论文代写:开放和封闭源代码的技术比较

软件升级版本和版本:每次软件升级软件增加新的功能或提高软件的性能,一个新的版本投放市场。每一个公司的目标是获得最大的利润。由于源代码是不是在闭源软件最终用户共享的情况下,它成为必要的厂商推出新版本进入市场,一次又一次。这导致许多版本相同的软件在市场上,它有时会增加用户的混乱的思想而不是给他一个更好的产品。例如:微软推出的Office应用程序的多个版本。
但在开放源代码软件的情况下,是没有问题的版本。只有一个版本,只需购买,一个人得到的一切。一个人一旦安装红帽企业Linux,人不必担心改变版本,就像Windows,在最终用户购买和重新安装Windows的新版本,无论是由供应商发起。增加在封闭源代码的Windows版本号的情况下就决定要使用哪个版本的最终用户在不同环境下的艰难,而开源软件使事情变得简单,简单的保持只有一个版本,不论环境或硬件(Economides,2005)。

美国硕士论文代写:开放和封闭源代码的技术比较

Version and Edition: Every time software is upgraded to add new features in software or increase the performance of software, a new version is launched into the market. Every company aims to attain maximum profits. Since the source code is not shared with the end user in case of closed source softwares, it becomes essential for the vendor to launch new versions into the market time and again. This leads to many versions for the same software in the market, which sometimes increases the confusion in the mind of users rather than providing him a better product. For example: Microsoft launched multiple versions of Office Application.

But in case of open source software, there is no problem of versioning. There is only one edition and just by buying that, a person gets everything. Once a person has installed Linux Red Hat Enterprise, the person doesn’t have to worry about changing versions like in case of Windows, where the end user buys and re-installs new version of Windows, whenever it is launched by the vendor. Increasing number of versions in case of closed source Windows makes it tough to decide by end user which version to use in different environments, while open source software keeps things simple and straightforward by keeping only one version irrespective of the environment or hardware (Economides, 2005).