However, a study of the most recent such tax holiday, in 2004, suggested it had little effect on employment and investment, with most of the benefits going to shareholders.

然而，在2004年曾对最新的这种免税期的进行过一项调查，结果表明免税期对就业和投资的作用微乎其微，因为大部分的盈利都分给了股东。

youdao

But the mere presence of guaranteed and falling caps on carbon would surely have some effect on investment in the sort of technology that might make reductions cheaper.

而且，仅仅作作保证并在碳排放上降低指标，肯定会对可以使减排更廉价的科技投入产生某些影响。

youdao

On the other hand, if the rules do have what appears to be the desired effect of discouraging investment Banks from being market makers, then we lose a shock absorber.

另一方面，如果新规则确实有影响投行充当做市商积极性的效果——这似乎正是新规制定者的意图，那我们就损失了一个冲击缓冲器。

youdao

Other issues rights groups want to raise with leaders include the impact of climate change on communities and the effect investment projects would have in Burma and other countries.

VOA: standard.2009.10.09

Earlier this week I wrote about the effect of investment fees on your returns.

FORBES: Evaluate Your Expenses

First of all, it does not take into account the effect of investment fees, such as management fees and trading commissions, on your returns.

FORBES: How To Double Your Money Every 6 Years

The cumulative effect of this investment has been to develop a multifaceted ability to reduce the effects of a retaliatory nuclear attack.

CENTERFORSECURITYPOLICY: Center for Security Policy | An Assessment Of Future Requirements For US Strategic Forces And Strategic Arms Control