英语翻译2004年中航油向法庭申请破产保护令,致使在信息透明、监管严格的新加坡市场上发展如日中天的上市公司在短期内现金流量枯竭、造成账面巨额亏损.究其原因主要就在于上市公司高

Question

英语翻译
2004年中航油向法庭申请破产保护令,致使在信息透明、监管严格的新加坡市场上发展如日中天的上市公司在短期内现金流量枯竭、造成账面巨额亏损.究其原因主要就在于上市公司高管人员激励约束机制的不健全.与此同时,国内上市公司高管人员的薪酬机制、上市公司信息披露制度、审计委员会制度等激励约束机制也同样存在很多问题.激励约束机制作为财务治理结构的一部分,其健全与否关系到财务治理问题能否有效解决,进而影响到公司治理机制的运行.所以,建立一套完善的财务激励约束机制,减少利益各方的财务冲突,有利于解决财务治理中存在的问题,进而健全我国公司治理机制,促进证券市场的健康发展.
本文对我国上市公司财务激励约束机制的总体现状进行分析,结合国内外对财务激励约束机制研究的基础上,根据人力资本理论、委托代理理论及边际效用递减理论,提出从薪酬机制、信息披露制度、审计委员会制度等三个角度构建一套激励约束理论框架,具体从这三个方面分析了目前上市公司财务激励约束机制存在的问题,结合理论框架,提出了具体对策．

Answer 1

In 2004 the aviation gasoline to the court application chapter 11 bankruptcy protection command,causes in the information to be transparent,in the supervising and managing strict Singapore market develops at the height of power goes on the market the company the cash current capacity to dry up in the short-term,to create 账面 the large amount loss.Investigates its reason mainly to lie in goes on the market the company high tube personnel to drive the restraint mechanism is not perfect.At the same time,the home goes on the market the company high tube personnel's salary mechanism,goes on the market the company information to disclose drive restraint mechanism also similar existence very many questions and so on system,national audit office system.The drive restraint mechanism took the financial government structure a part,whether its perfect or not does relate the financial government question effective addressing,then affects to the company governs the mechanism the movement.Therefore,establishes a set of perfect financial drives restraint mechanism,reduces benefit all quarters the financial conflict,is advantageous question which exists in the solution finance government,then the perfect our country company governs the mechanism,the promotion stock market health development.This article goes on the market the corporate finance to our country to drive the restraint mechanism the overall present situation carries on the analysis,unifies domestic and foreign to the financial drive restraint mechanism research foundation in,according to the human capital theory,entrusts the agent principle to concern the marginal utility to decrease progressively the theory,proposed from the salary mechanism,the information disclosed the system,the national audit office system and so on three angles construct a set of drives restraints theory frame,makes concrete analyzes at present from these three aspects to go on the market the corporate finance drive restraint mechanism existence question,the union theory frame,proposed the concrete countermeasure.