“ if the club receives the right offer for him , then they will consider it but if not , he will meet us for training when we get back “如果俱乐部收到有关他的好的报价，那么他们（指肯扬他们吧）可以考虑（接受报价） ，但如果没有，那么克雷斯波将在我们回去之后与我们集合。 ”
In 1995 , the total amount of funds raised through rights offerings was 6 . 28 billion yuan , which was nearly three times the total amount of funds raised through ipos that year 1995年，通过股权发放筹集到的资金总额是62 . 8亿元，将近同年通过首次公开招股筹集到资金总额的三倍。
Then the paper discusses the motives , the means , and the methods of earnings manipulation by the listed companies in the economic environment of china , and gives a evidence to the motive of right offerings by the statistical analysis and positive analysis 接着论述了我国特定经济环境中上市公司盈余管理行为的动机、目标和方式，并运用描述性统计分析为配股动机提供了佐证，同时运用修正的jones模型进行了实证分析。
This empirical study of chinese listed companies issuing rights offer , seasoned equity offer and convertible bonds between januaty 2002 and december 2004 focuses on the performance before and after re - issuance , to compare the performance of these three financing methods 本文以2002年1月至2004年12月实施配股、增发，以及发行可转换公司债券的上市公司为研究对象，对再融资前后公司业绩进行了实证分析，以考察这三种再融资方式的“优”与“劣” 。
The paper also argues that the government should protect shareholders " interests by rights offering or stock dividend method , and also suggest that strategic investors should be introduced into the reduction process in order to keep the market stable . in chapter 4 , the paper use an econometric model to estimate the relationship between reduction plan and stock prices . the conclusion is that relationship is not very obvious 第四章主要针对2001年提出的《减持国有股筹资社会保障资金管理暂行办法》实施过程中市场的反应来进行实证分析，采用具体的股价和公司业绩等数据进行计量模型检验，发现股市的下跌与国有股减持不存在明显的因果关系。
The requirements for rights offerings were made more stringent in 1994 , when it was determined that a listed enterprise could apply for rights offerings only if it could prove that it had a record of positive profitability for the past three years , with a higher than 10 percent three - year average return on equity ( roe ) 1994年对股权发放的要求更为严格，只有当上市公司在过去的三年中都有积极的盈利记录，以及连续三年资本盈利率平均高于10 % ，它才能决然地申请发放股权。
