融资者

作为融资者，融资难度越来越小，同时，需要遵循的规则则会越来越严格。

As a Financier , financing difficulty getting smaller and smaller , at the same time , the need to follow the rules will be more and stricter .

本文从融资者-投资者需求匹配、资本市场信息不对称自发演进和场外交易市场做市商制度三个角度，构建场外交易市场的理论框架。

From matching financier and investor , evolution under informational asymmetry and market maker system of the OTC market , this paper can build the theoretical framework of the OTC market .

多层次的OTC市场为广大投资者和融资者提供了更多的选择，满足不同条件的投融资者可以在不同水平的OTC市场上寻找到适合自己的项目，市场的细化可以为他们提供更多的机遇。

Multi-layer OTC market provides more choices for the majority of investors and financiers , who meet different conditions can find their appropriate projects in different layer markets .

本文首先对相关概念进行综合阐述，首先是REITs的基本概念，分析了REITs的运行模式，并从三个方面，即投资者、融资者、政府的角度运用比较分析法总结概括了REITs的优势。

First of all it is the basic concept of REITs , REITs operation mode , and the advantages of REITs from three aspects , namely the perspective of investors , financiers , and government using comparative analysis method summary outlines .

金融市场的生命力来自于其能够不断创新、满足投资者和融资者的需要。

Financial market can constantly create new products and satisfy the needs of investors and enterprises .

从融资者、监管者到投资者，都将面临一个新的时代。

From the financiers , investors , to regulators , everyone will face a new era .

可转换公司债券以其独特的风险收益特性逐渐为投、融资者所接受并得到了广泛的欢迎。

Due to its unique risk-return attributes , convertible bonds are welcomed by both issuers and investors .

催化作用：指一个项目所具有的能鼓励其他潜在融资者参加的作用。

Catalytic role : the way a project encourages other potential cofinancers to join in the project .

融资者在规定时间内（通常为10年），拿出约定比例的薪水偿还投资者。

Participants pay investors an agreed percentage of their salary for a required period , usually 10 years .

投资银行是一项在资本市场中沟通企业与企业、投资者与融资者的高智力密集型的金融服务产业。

Investment bank connecting corporations and corporations , investors and raisers , is a kind of financial industry with intense intelligence .

投资者与融资者对投融资金融服务的多样化需求决定了资本市场应该是一个多层次的市场体系。

The diverse needs of financial services of investors and financiers decide the capital market should be a multi-level marketing system .

如果范围必需扩大的，融资者可以分开的给投资者提供数据，合法的税收，和投资决定。

To the extent necessary , issuers may separately provide information to investor and to investor 's legal tax and investment decisions .

可转换债券因为其灵活性、安全性和高回报成为了备受投资者和融资者青睐的产品。

The convertible bonds has become a favor for investors and capital raisers because of its flexibility , security and high return .

目前，重庆市、区县两级政府是重庆公路建设项目的主要投融资者。

Currently , the city of Chongqing municipal and district ( county ) levels , the government of Chongqing is a major highway construction project for the financier .

在证券场外市场中，为将信息不对称所带来的风险和其他风险在融资者和投资者进行再分配，立法者更为强调以有效的信息披露制度保护投资者利益免受其带来的不利影响。

In order to re-allocate risks rising from asymmetric information among investors and people who need money , legislators emphasize using effective disclosure systems to protect investors in securities market .

可转换债券是一种受投资者和融资者都欢迎的混合金融工具，已发展成为独立的债券市场。

The convertible bond is a kind of mixed financial tool and is welcomed by investors and factors , and the convertible bond market already has been developed into the independent bond market .

可转换债券同时具备债券和股票期权的双重性，适应了投资人和融资者双方的要求，它的存在给投融资双方都带来了单纯债券和单纯股票无法实现的好处。

Because the convertible bond has the dual natures of bonds and stock option concurrently , has met the needs of investors and the factor , it has brought the benefits that simple stock and simple bond cannot achieved alone .

从投资者的角度出发，资产证券化为投资者提供了一种优良的投资品种：资产支持证券，在投资者和融资者之间建立了一种新的资金融通渠道。

From the perspective of investors , securitization of assets acts as a good investment instrument : assets are based on securities , which helps to form a new financing source between investors and those who are in need of funds .

公司治理作为使公司资产能够得到有效使用、确保向公司融资者取得其投资收益的一系列机制，可以有效限制将本属于公司股东的资产不恰当地分配给公司管理层。

Corporate governance is a series mechanisms in place to ensure that the assets of the firm are used efficiently , guaranteeing the suppliers of finance a return on their investment , must restrict the actions which the assets owned stockholders are inappropriate assigned to management .

股市危机一旦发生，会引发股市全面的资金链条紧缩效应、资产价格预期坍塌效应等，给投资者、融资者及其他市场参与主体造成惨重的损失，对金融系统和实体经济的消极影响都很大。

Once the SMC arises , it will trigger the complete capital chain shrink effect and estimated capital price collapsing effect that will cause great loss of investors , fund raisers and other market event participants and have strong negative impact on financial system and entity economy .

本文尝试应用行为公司财务理论中的羊群心理来研究融资决策者的决策行为。

The paper tried to apply the herding , reputation-based herding and incentive-system-base herding to analyze the financing decisions of listed companies .

从非正规金融的直接效应和规制介入对于非正规金融的间接效应两个层面出发进行分析，将资金提供者、政府规制与资金需求主体融资三者结合起来。

From the direct effects of non-formal financial and regulatory intervention for the indirect effect of non-formal financial analysis of two levels of departure , the funders , government regulation and financing of the three main funding needs together .

今年，滴滴快的还在Lyft的一轮融资中向后者投资1亿美元。那轮融资由乐天（Rakuten）主导，中国互联网集团阿里巴巴（Alibaba）和腾讯（Tencent）也参与了。

This year Didi also invested $ 100m in Lyft , in a financing round led by Rakuten that included Chinese internet groups Alibaba and Tencent .

虽然以低利率再融资的购房者会被“锁定”，但利率上升还是会产生恶劣的后果。

Even though homeowners who refinanced at low rates would be " locked in " , there would be nasty consequences from rising rates .

这是WeWork的第F轮融资，领投者为两家总部位于北京的投资机构——弘毅投资（HonyCapital）和联想控股（LegendHoldings）。

Hony Capital and Legend Holdings , both Beijing-based investment groups , led the Series F round .

小额金融信贷是为低收入群体提供融资、为贫困者服务的金融活动。

Microfinance loan is a financial activity trying to finance the low-income group and help the impoverished .

在我国很多港口，对拖轮船队的规划和融资仅依赖决策者的经验。

In many Chinese ports , the vessel planning and financing methods merely based on the experience of decision makers .

资本结构对管理者利益侵占行为产生显著的正向影响，这表明负债融资不能抑制管理者的利益侵占行为；

Capital structure has a significant positive influence on manager expropriation , which means leverage can not restrain managers from expropriation behavior .

进一步研究发现，在选择债务融资时，管理者权力越集中，管理者越偏好长期债务而降低短期债务。

Further research found that , in the choice of debt financing , the higher the concentrated degree of managerial power , the longer maturity is .

创业企业的融资契约是创业者为实现生产要素新的组合而以中心签约人的身份同物质资本所有者订立的合作契约。

The financial contract of the start-up is the cooperative contract between capitalist and entrepreneur where entrepreneur is the central contractor in order to combine produce factor with each other .