另外一个限制是破产成本
对于提高案件审理效率、降低破产成本发挥了重要作用。
It plays an important part in raising efficiency of hearing a case, and dropping bankrupt cost.
破产成本是企业破产时发生的费用，从而降低了企业资产价值。
Research on valuation of corporate risky debt is given when bankruptcy costs are taken into account.
而抵税收益与破产成本两者相同时，则达到了企业的最佳资本结构点。
When the off-set tax is equal to the cost of bankruptcy, the optimum capital structure point is reached.
我们发现企业的经营风险和破产成本可能对杠杆率有正面影响，而股息支付率则与杠杆率负相关。
We found that operation risks and bankrupt costs of enterprises could have positive impacts on leverage ratio, while pay-out ratio of dividends may have negative impact on leverage ratio.
与此同时，由于市场是不完美的，税收、破产成本和信息不对称等因素将使公司绩效对资本结构产生反作用。
While, company's performance has a counteractive to the capital structure because of the imperfect of the market, tax, bankruptcy cost and information asymmetry.
许多研究文献证明：特许权价值能通过提高银行破产成本从而降低道德风险，因而其发挥着银行风险自律器的作用。
Several papers argue that franchise value works to reduce the moral hazard problem by increasing the cost of bankruptcy, so it acts as a disciplinary device against risk-taking.
现代资本结构理论的主要缺陷是无法很好的解释许多企业在税收利益很大、破产成本很小的情况下，仍然保持很低的负债水平。
The major flaw of modern capital structure theory is that it cannot explain very well many enterprises remain low debt levels when tax benefits is large and bankruptcy costs is small.
根据现代资本结构理论，公司事实上存在着资本结构的合理区间，该区间取决于税收、破产成本、代理成本等多方面因素的权衡结果。
According to modern Capital Structure Theory, there is a reasonable range for Capital Structure in a company, which is decided by the compromise of tax, cost of bankruptcy and dealership, etc.
按照存在破产成本和税收情况下的MM理论分析，只有管理当局确定的资本比率和银行最佳资本结构一致时，资本充足性管制才是完全有效的。
According to MM theory with bankruptcy cost and tax, capital adequacy regulations are fully effective only if the capital ratio stipulated by management and optimal capital structure is consistent.
大多数没有被迫破产的公司之所以能够幸存下来，是因为他们保留的员工效率很高，这有助于公司控制成本。
Most companies that have not been forced into bankruptcy have survived thanks to the high efficiency of the employees they retained, which helped the companies control costs.
如果他们申请破产保护，他们就可以削减成本，重组，而且变得更有竞争力。
If they seek bankruptcy protection, he says, they will be able to cut costs, reorganize and become competitive again.
不仅项目成本远超过预算，而且一个成螺旋式状接近破产的城市并不需要更多的百万平方英尺的办公室空间。
Not only had the project cost far more than it was supposed to, but a city spiraling toward bankruptcy didn't exactly need millions more square feet of office space.
通用表示，若无法大幅削减成本将不得不宣告破产。
GM says failure to achieve significant cost savings would force it into bankruptcy.
按照《破产法》第11章，业主有机会重建他们的债务款项，摆脱一些债主的控制，削减成本。
By moving into Chapter 11, the proprietors have a chance to restructure their debt payments, shrug off the grip of some creditors and cut costs.
投资者变得忐忑不安，不太确定哪些国家最终会破产，因而债券市场的借款成本就上升了。
Unsure about who will eventually be deemed insolvent, investors are nervous—and costs have risen.
最近几周，LIBOR指数(银行借入成本的指标)银行债权的CDS(信用违约互换)利差(为抵御破产风险所支付的成本)都有所上涨。
In recent weeks there has been a rise in both LIBOR (a gauge of Banks' borrowing costs) and the credit-default-swap spreads on bank bonds (the cost of insuring against default risk).
为了使你更好的了解别人而又不至于破产，以下给出7点关于低成本的办公室庆祝方法。
To help you appreciate each other without breaking the bank, here are seven, low-cost office celebration ideas.
对于小公司，高回报可能被高成本、低流动性、高风险所抵消。(小公司更倾向于破产)。
For small companies, higher returns may be negated by higher costs, reduced.
事实证明，这种转播技术的成本终于超过了有限的预算，整个论坛最终惨败，其组织者也最终破产。
As it turned out, the cost of the technology finally overwhelmed the modest budget available, reduced the symposium to a fiasco, and bankrupted its organizers.
虽然没有由于破产而被迫作出改变带来的阵痛，但代价是美航要承担最高的劳务成本和退休金费用。
Without the pain of bankruptcy to force change, it is left with the highest Labour costs and pension obligations.
破产不受欢迎是因为怕其蔓延开来--若任由希腊破产，其它处于困境中的欧元区成员国借贷成本将上升。
What makes default unpalatable is the fear of contagion—that if Greece were allowed to go under, the cost of borrowing for other troubled euro members would shoot up.
这比大多数西方制造商和亚洲小型制造商的成本价还低，因而一些已经破产了。
That is less than the cost price for many Western manufacturers and small Asian ones, several of which have already gone bust.
一些专家和国会议员称，破产重组是让通用汽车削减成本、恢复生机的最可靠途径。
Some experts and members of Congress say bankruptcy reorganization is the surest way for GM to cut costs and become viable.
现在他认为，只有天然气成本飙升，风电才能大行其道，否则它只会让你破产。
Now argues wind power only works if natural-gas costs soar. Otherwise, he adds, 'it puts you out of business.
本文的第二部分讨论了破产领域的现行代理成本问题。
Part II of this article discusses the agency cost problems prevalent in the zone of insolvency.
成本上升的事实颇为令人尴尬，但换个角度看，如果欧元破产，德国还是要付出相应的代价。
That is an awkward truth, but Germans will also pay if the single currency fails.
成本上升的事实颇为令人尴尬，但换个角度看，如果欧元破产，德国还是要付出相应的代价。
That is an awkward truth, but Germans will also pay if the single currency fails.
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