|
中文词句 |
English Terms |
English Definitions |
| 巴黎俱乐部 |
Paris Club |
A monthly meeting, taking place in Paris,
between the creditors of 19 countries for the purpose of
discussing debt issues. Among other things, the Paris
Club addresses the issue of coordinated debt relief for
developing countries that cannot service their
debt. |
| 白皮书 |
White Paper |
An informational document issued by
companies trying to promote or highlight the
significance of a planned product or service |
| 白武士 |
White Knight |
A company that makes a friendly takeover
offer for the control of a target company that is being
faced with a hostile takeover from a separate
party. |
| 白象 |
White Elephant |
Any investment that nobody wants because
it is a money loser. |
| 半可变因素 |
Semi-Variable Cost |
A cost composed of a mixture of fixed and
variable components. Costs are fixed for a set level of
production or consumption, becoming variable after the
level is exceeded. |
| 半年 |
Semi-annual |
An event that occurs twice in a calendar
year. |
| 保管人 |
Custodian |
A financial institution that has the
legal responsibility for a customer's securities. This
implies management as well as safekeeping. |
| 保管帐户 |
Custodial Account |
1. An account created at a bank,
brokerage firm or mutual fund company that is managed by
an adult for a minor that is under the age of 18 to 21
(depending on state legislation). |
| 保护主义 |
Protectionism |
Actions taken by a government to prevent
imports from destroying domestic producers. |
| 保荐人 |
Sponsor |
- In the context of mutuals, an underwriting company
that offers shares in its mutual funds.
- In the context of stocks, an influential investor
who creates demand for a security because of their
positive outlook on it.
|
| 保留管理层的收购项目 |
Management Buyin (MBI) |
When a group of investors outside of a
company purchase a controlling block of shares and keep
the existing management. |
| 保留盈余 |
R/E |
The percentage of net earnings not paid
out in dividends, but retained by the company to be
reinvested in its core business or to pay debt. It is
recorded under shareholders equity on the balance
sheet.
Calculated by adding net income to (or
subtracting any net losses from) beginning retained
earnings and subtracting any dividends paid to
shareholders. |
| 保留盈余 |
Retained Earnings |
The percentage of net earnings not paid
out in dividends, but retained by the company to be
reinvested in its core business or to pay debt. It is
recorded under shareholders equity on the balance
sheet. |
| 保收债券 |
Cushion Bond |
A type of callable bond that sells at a
premium because the issued coupon payments are above
market interest rates |
| 保证金、按金 |
Margin Account |
- The use of borrowed money to purchase securities,
referred to as "buying on margin."
- The amount of equity contributed by a customer as
a percentage of the current market value of the
securities held in a margin account.
- In a general business context, margin refers to
the difference between selling price and the cost of
goods sold.
|
| 贝塔系数 |
Beta (Coefficient) |
The measure of systematic risk of a
security. Beta (or beta coefficient) is a means of
measuring the volatility of a security or portfolio of
securities in comparison with the market as a
whole. |
| 备考、模拟 |
Pro Forma |
A latin term that translates into "for
the sake of form." In the investing world, the term
describes a method of calculating financial results in
order to emphasize either current or projected figures.
|
| 备考盈利 |
Pro Forma Earnings |
Earnings that are derived by pro forma
rather than standard GAAP methods. |
| 背对背贷款 |
Back-to-Back Loan |
A loan where two companies in different
countries borrow offsetting amounts in each other's
currency. The purpose of this transaction is to hedge
against currency fluctuations. |
| 被动投资 |
Passive Investing? |
An investment strategy involving limited
ongoing buying and selling actions. Passive investors
will purchase investments with the intention of
long-term appreciation and limited maintenance. |
| 倍数 |
Multiple |
Another term for the price/earnings
ratio, which is calculated by dividing a stock's current
price by the company's current annual earnings per
share. |
| 倍数压缩 |
Multiple Compression |
Arises when a stock trades at a certain
multiple and, while earnings may be good, the stock
price doesn't move or sometimes goes down. The result is
that the multiple is reduced even though nothing is
fundamentally wrong with the company. The valuation has
been called into question and the multiple that you are
willing to pay for that stock is the only thing
different. |
| 本金、[企业]主要负责人、[交易]当事人 |
Principal |
- The amount borrowed or the amount still owed on a
loan, separate from interest.
- The original amount invested, separate from
earnings.
- The face value of a bond.
- The owner of a private company.
- The main party to a transaction, acting as either
a buyer or seller for his/her own account and risk.
|
| 本年迄今 |
YTD |
The period beginning January 1st of the
current year up until today's date |
| 本年迄今 |
Year To Date (YTD) |
The period beginning January 1st of the
current year up until today's date |
| 本票 |
Promissory Note |
A written, dated, and signed two-party
instrument containing an unconditional promise by the
maker to pay a definite sum of money to a payee on
demand or at a specified future date. |
| 本债比 |
Gearing |
This is the ratio of long-term funds with
fixed interest that makes up a firm's capital. |
| 比例税 |
Proportional Tax |
An income tax that takes the same
percentage of income from everyone regardless of how
much (or little) an individual earns. |
| 必付合约 |
Take or Pay |
A provision, written into a contract,
whereby one party has the obligation of either taking
delivery of goods or paying a specified amount. |
| 避风港 |
Safe Harbor |
- A legal provision to reduce or eliminate liability
as long as good faith is demonstrated.
- A form of shark repellant where a target company
acquires a business that is so poorly regulated that
the target itself is less attractive. In effect, this
gives the target company a "safe harbor."
- An accounting method that avoids legal or tax
regulations and allows for a simpler (usually) method
of determining a tax consequence than is available
following the precise language of the tax code.
|
| 避税乐园 |
Tax Haven |
A country that offers individuals and
businesses little or no tax liability. |
| 边际税率 |
Marginal Tax Rate |
The amount of tax paid on an additional
dollar of income. As income rises, so does the tax
rate. |
| 边际效用 |
Marginal Utility |
The additional satisfaction obtained by a
consumer from consuming one more unit of a good or
service. |
| 贬值 |
Devaluation |
Lowering the value of a country's
currency compared to the value of a commodity or to the
value of another country's currency. |
| 变动率 |
ROC |
One of two principal clearing houses for
securities traded in the Euromarkets. |
| 变动率 |
Rate of Change (ROC) |
The speed at which a variable changes
over a specific period of time. |
| 标准差 |
Standard Deviation |
- A measure of the dispersion of a set of data from
its mean. The more spread apart the data is, the
higher the deviation.
- In finance, standard deviation is applied to the
annual rate of return of an investment to measure the
investment's volatility (risk).
|
| 标准普尔 |
S&P (Standard And Poor's) |
A company that rates stocks and corporate
and municipal bonds according to risk profiles.
Additionally, Standard and Poor's produces and tracks
the S&P indexes, and publishes a variety of
financial and investment reports. |
| 标准普尔 |
S&P |
A company that rates stocks and corporate
and municipal bonds according to risk profiles.
Additionally, Standard and Poor's produces and tracks
the S&P indexes, and publishes a variety of
financial and investment reports. |
| 标准普尔500 |
S&P500 |
An index consisting of 500 stocks chosen
for market size, liquidity, and industry group
representation. It is a market-value weighted index,
with each stock's weight in the index proportionate to
its market value |
| 表现超越大市 |
Market Outperform |
An analyst recommendation meaning a stock
is expected to do slightly better than the market
return. |
| 表现超越大市 |
Outperform |
An analyst recommendation meaning a stock
is expected to do slightly better than the market
return. |
| 表现股票 |
Performance Shares |
Shares of company stock that are given to
managers only if certain performance criteria is
met. |
| 表现落后大市 |
Underperform |
An analyst recommendation that means a
stock is expected to do slightly worse than the market
return |
| 波动性 |
Volatility |
- In general, volatility is a statistical measure of
the tendency of a market or security to rise or fall
sharply within a short period of time. Volatility is
typically calculated by using variance or annualized
standard deviation of the price or return.
- Volatility is a variable that appears in option
pricing formulas. In the option pricing formula, it
denotes the extent to which the the return of the
underlying asset will fluctuate between now and the
expiration of the option.
|
| 表现最佳承销商 |
Bulge Bracket |
The group of firms in an underwriting
syndicate who sold the largest amount of the
issue. |
| 补偿买进 |
Buy-In |
When an investor is forced to repurchase
shares because the seller did not deliver the securities
in a timely fashion, or did not deliver them at
all. |
| 不可抗力 |
Force Majeure |
Literally translated as "great force,"
this clause is included in contracts to remove liability
for unforeseen events restricting participants from
fulfilling obligations. |
| 不可买回 |
Non-Callable |
Securities that cannot be called by the
issuer prior to maturity. |
| 不良贷款 |
Bad Debt |
A debt which is not collectable and
therefore worthless to the creditor. |
| 不良贷款 |
NPL |
Loans that are in default or close to
being in default. |
| 不良资产 |
Non-Performing Asset |
Any asset that is not effectively
producing income. |
| 不良贷款 |
Non-Performing Loan |
Loans that are in default or close to
being in default. |
| 不能变现 |
Illiquid |
An asset or security that cannot be
converted into cash very quickly (or near prevailing
market prices). |
| 部分还款 |
Paydown |
The process of repaying a portion of an
outstanding loan balance. |
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