匿名使用者
匿名使用者 發問時間: 社會與文化語言 · 1 0 年前

論文報告的文章英文翻譯

麻煩各位幫忙翻譯此段,我不要用GOOGLE..翻出來的,是需要有通順及文法對的翻譯,謝謝

內文:

以個案分析進行實證研究,探討第一部份是說明台積電公司宣告發行 ADR 時的股價反應,以了解當台積電宣告發行 ADR 時市場是否具有訊息釋放效果。第二部份探討探討特定財務特性之表現與公司發行海外有價證券籌資決策之關係。

本文之研究結果如下:

證實獲利能力對企業選擇發行海外存託憑證為融資工具有正面影響,研究結果發現公司的經營能力、獲利能力及長期資金占固定資產比值越大,成長率和流動比率越小時,越容易選擇發行可轉換公司債。無論在獲利能力、償債能力、成長力與公司規模等均顯著優於同時期現金增資之公司。

本研究之結果雖然公司將一部分流通在外股數分散於海外,短期內對股價有助漲助跌的影響力,但長期而言,由於憑證的發行有助於增加發行公司有價證券之流動性,且企業將浮動籌碼移轉至海外,因此相對上將可以提高股價的穩定性與市場反應度。因此,股價常為發行成功與否之關鍵因素。也常發現當股市處於熱絡之際,許多企業紛紛發行海外存託憑證加以籌資。

關鍵字:海外存託憑證、財務結構、股價

1 個解答

評分
  • 冠諭
    Lv 5
    1 0 年前
    最佳解答

    我幫你翻譯好了 先說 我不適用GOOGLE

    Carry on a substantial evidence research by individual case analysis, inquire into that part 1 is the stock price reaction for explaining that the TSMC companies announce issue ADR with understand whether market has a message to release effect or not when the TSMC announces issue ADR.Part 2 inquires into that performance and company of particular finance characteristic publish the relation of oversea decision of the marketable securities money raising.

    The research result of this text is as follows:

    Confirm profit ability to publish an overseas to save to give certificate to the enterprise choice for the margin tool to have positive influence, study result management ability of finding the company, profit ability and long-term funds occupy a fixed assets specific value more big, growth rate and liquidity ratio more hour, the more easy choice issue can convert corporate bonds.No matter is making a profit ability, repay debt ability and grow up power and company scale etc. all notable and excellent expect the company of cash capital increase at the same time.

    The result of this research although the company circulate a part at the outside number scatter in overseas, have already helped to rise to help to fall to the stock price in the short run of influence, in the long run, the issue of certificate contributes to the liquidity of the marketable securities of the company of the increment issue, and the enterprise will float a counter to call away to an overseas, therefore the opposite full general can raise stability and the degree of the market reaction of stock price.Consequently, whether stock price often is an issue success or not of key factor.Also often find when the stock market is placed in warm moment, many enterprises publish an overseas to save to give certificate to take in to raise funds in succession.

    Key word:the overseas save to give certificate, finance structure, stock price

    http://www.mytrans.com.tw/mytrans/freesent.aspx 這個網頁

    參考資料: 自己+網路
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