You have to look for companies that ( a) are selling cheap but ( b) are committed to value creation, to doing something with their excess cash, to building book value per share, and to getting a good return on equity. 你必须寻觅满足以下条件的公司:(a)它正以低价被抛售,但是(b)它致力于创造价值,以超额现金开展某些活动,构建每股账面价值,并且取得良好的股本回报率。
In addition, market multiples may contract, management teams may invest excess cash flow poorly or the number of public company "losers" could increase significantly. 此外,市场市盈率可能会降低,管理团队对超额现金流的投资可能出现失误,而上市公司中的“输家”数量也可能显著增加。
But there is a second, darker interpretation of this trend: namely that the western financial system is drowning in excess cash and credit. 但对这种趋势的另一种较为悲观的解读是:西方金融体系正淹没在过多的现金和信贷当中。
Jim hung, an analyst at Goldman Sachs, said: "the company is indeed facing pressure from foreign shareholders to better utilise its excess cash." 高盛(goldmansachs)分析师jimhung表示:“外国股东确实向该公司施加了压力,希望其更好地利用多余资金。”
In a sign of the rapid financial turnround the big mining companies have enjoyed since 2009, the US-based Freeport declared a two-for-one stock split and the unloading of$ 471m of excess cash to shareholders. 总部设在美国的Freeport宣布了一拆二的拆股计划,并将向股东额外派发总计4.71亿美元的现金股息。此举表明大型矿业企业的财务状况自2009年以来,已迅速好转。
My next goal would be to have the excess cash flow from my assets reinvested into the asset column. 我的下个目标是从资产中得到多余现金再进行投资。
You're gonna need the excess cash. 你需要大量的金钱。
There is a lot of debate now about the appropriate use of excess cash in the industry. 对于该行业目前应如何正确使用过剩现金,存在着许多争论。
Unable to find any, it returned the excess cash to shareholders at the end of 2008. 由于未能发现任何收购目标,该公司在2008年底将这些剩余的现金返还给了股东。
Well-managed companies frequently review their bank balances for the purpose of transferring any excess cash into cash equivalents or other investments that generate revenue. 经营好的企业关注他们的银行存款余额,并将闲置的资金用于购买现金等价物或其他能产生收益的投资项目上。
The securities are bought by state banks, which have excess cash and few other places to park it. 买入这些票据的是中国国有银行,它们拥有过量现金,而且几乎没有其它投放渠道。
If there really is excess cash at the end of the year it could be used to improve general working conditions. 如果组织在年底确有资金剩余,则可将其用于改善整体办公环境。
Strong demand for safe assets could produce an attractive return for firms that have excess cash to lend out, particularly if low interest rates persist. 对安全资产的强劲需求可能会为有多余现金可出借的公司带来可观的回报,特别是如果利率继续维持在较低水平。
That may mean so-called "cookie jar" accounting where companies lower reserves and use excess cash to boost revenues. 这可能意味着所谓的“饼干罐”会计策略即企业降低准备金标准,用过度的现金来推高收入。
It is unlikely that a project that started out as an effort to drain some of the excess cash from a super-heated Chinese economy would be revived at a time when growth, not inflation, is the problem. 一个初衷在于从过热的中国经济中抽走部分过剩现金的计划,不太可能在增长(而非通胀)成为问题时重新执行。
Ensure excess cash is managed to maximize earning potential. 严格现金管理,充分利用多余现金。
In effect it created so much demand by hundreds of millions of people with excess cash that far outstripped available supply hence inflation was the inevitable result. 无数人过剩的现金创造了无数的需求,因此通胀是不可避免的事。
Using excess cash to pay bills and debt without fail. 务必使用盈余现金支付粮单和欠款。
We find, corporate which have positive excess cash holdings prefer to select financing timing intensely, whether their growth is higher or lower. 得出的结论是:现金持有过量的上市公司有强烈的融资时机偏好;无论成长性高低,现金持有过量公司的融资时机偏好都强于现金持有不足公司的时机偏好;
Whether the excess cash that the enterprise holds will cause excessive investment or not? Whether different financing constraints affect excess cash investment efficiency or not? This article will to study these questions. 企业持有超额现金会否导致过度投资的发生?不同融资约束对超额现金的投资效率影响如何?本文将对这些问题进行研究。
With the development of research in imperfect of capital market, earning management and excess cash holdings have gradually drawn extensive attention in corporate finance studies. 随着不完善资本市场研究的逐步深入,资金盈余管理、现金过度持有等公司资金问题越来越受到公司金融研究者的广泛注意。
Then uses influence factors of cash held as variable to estimate excess cash holdings, and concluded companies that hold excess cash over three years. On this basis, this paper selects the company scale to measure financing constraints degree. 然后以影响现金持有的各因素为变量对超额现金持有量进行估算,得出了持续三年持有超额现金的公司。
This research defining the Location Brand Value is refers to the competitive advantage value that location brand brings to the local industry which is measured by the excess cash flow of the local beneficial industry. 3. 本研究选择了区域品牌为本地产业带来的竞争优势的价值,作为区域品牌价值的定义,采用本地受益产业的超额现金流量这个指标来度量。
A lower level of investor protection in the companies, One yuan value of excess cash is significantly reduced. In contrast, the company with a good investor protection has a higher cash market value. 在投资者保护水平较低的公司中,一元超额现金的价值是明显减少的;相比之下,投资者保护好的公司超额现金有着更高的市场价值。
This paper will study the association between executive compensation with the agency costs ( including inefficient investment and job consumption) from the excess cash flow. 本文从超额现金流着手深入研究非效率投资、在职消费的代理成本与高管薪酬的相关性。
Based on the classical theory and special institutional background and market environment in our country, the auther try to find the real relationship between excess cash holdings and market performance or market competitiveness through the theoretical analysis and empirical research. 因此,本文借鉴国内外财务柔性和超额持现的经典理论,立足于我国特殊的制度背景和市场环境,对超额持现与企业市场业绩和市场竞争力关系展开理论分析和实证研究。
However, from where these excess cash reserves is? 但是这些超额现金储备来自于哪里?
Draw concludes that when having excess cash, enterprise tends to use excess cash to invest, but investments are inefficient, they can damage the enterprise performance. 研究得出以下结论:当企业存在着超额现金时倾向于用超额现金进行投资,但是投资效率低下,会损害企业的业绩。