|
中文词句 |
English Terms |
English Definitions |
| 大宗交易 |
Block Trade |
The sale or purchase of a
large quantity of securities. |
| 呆账准备金 |
Allowance For Doubtful
Accounts |
An estimation made by
companies and documented on their balance sheet for
receivables that might go uncollected. |
| 代理人 |
Agent |
An organization, such as a
bank or trust company, that takes responsibility for the
fiscal duties of an unrelated party. |
| 代理委托书 |
Proxy |
A formal document signed by a
shareholder to authorize another shareholder, or
commonly the company's management, to vote the holder's
shares at the annual meeting. |
| 代理问题 |
Agency Problem |
When conflicts of interest
rise between creditors, shareholders, and management,
because of differing goals. |
| 贷款 |
Loan |
When a lender gives money or
property to a borrower, and the borrower agrees to
return the property or repay the borrowed money along
with interest, at a predetermined date in the future.
|
| 贷款损失准备金 |
Loan Loss Provision |
An expense set aside as an
allowance for bad loans (customer defaults, or terms of
a loan have to be renegotiated, etc). |
| 贷款银团 |
Loan Syndication |
The process of involving
numerous different lenders in providing various portions
of a loan. |
| 贷款与价值比率 |
Loan to Value Ratio |
A lending risk ratio
calculated by dividing the total amount for the mortgage
or loan by the appraised value of the property. |
| 带领权 |
Drag Along Rights |
A right that enables a
majority shareholder to force a minority shareholder to
join in the sale of a company. The majority owner doing
the dragging must give the minority share holder the
same price, terms, and conditions as any other seller.
|
| 担保人 |
Guarantor |
A person that guarantees to
pay for someone else's debt if they default on their
loan obligation. |
| 单纯期权 |
Vanilla Option |
An normal option with no
special or unusual features. |
| 单位数量，整份股 |
Board Lot |
A term used when describing a
standard number of shares in trading stocks, usually
100. |
| 单位信托 |
Unit Trust (UT) |
An un-incorporated mutual
fund structure that allows funds to hold assets and pass
through profits to the individual owners, rather than
reinvest profits back into the fund. |
| 单一业务 |
Pure Play |
A company devoted to one line
of business, or a company whose stock price is highly
correlated with the fortunes of a specific investing
theme or strategy. |
| 到价 |
At the Money |
An option is at-the-money if
the strike price of the option equals the market price
of the underlying security. |
| 到价 |
In the Money |
For a call option,
in-the-money is when the option's strike price is below
the market price of the underlying stock. For a put
option, in-the-money is when the strike price is above
the market price of the underlying stock. |
| 到期日 |
Expiration Date |
The day on which an options
or futures contract is no longer valid and, therefore,
ceases to exist. |
| 到期日期 |
Maturity Date |
The date on which a bond's
principal or other liability investment is repaid to the
investor and interest payments stop. |
| 到期收益率 |
YTM |
The rate of return
anticipated on a bond if it is held until the maturity
date. YTM is considered a long term bond yield expressed
as an annual rate.
The calculation takes into account
the current market price, par value, coupon interest
rate, and time to maturity. It is also assumed that all
coupons are reinvested at the same rate. Sometimes this
is referred to as a bond's "yield" for short. |
| 到期收益率 |
Yield To Maturity (YTM) |
The rate of return
anticipated on a bond if it is held until the maturity
date. YTM is considered a long term bond yield expressed
as an annual rate.
The calculation takes into account
the current market price, par value, coupon interest
rate, and time to maturity. It is also assumed that all
coupons are reinvested at the same rate. Sometimes this
is referred to as a bond's "yield" for short. |
| 道琼斯工业平均指数 |
DJIA |
The Dow Jones Industrial
Average is a price-weighted average of 30 significant
stocks traded on the New York Stock Exchange and the
Nasdaq. The DJIA was invented by Charles Dow back in
1896. |
| 道琼斯工业平均指数 |
Dow Jones Industrial Average
(DJIA) |
The Dow Jones Industrial
Average is a price-weighted average of 30 significant
stocks traded on the New York Stock Exchange and the
Nasdaq. The DJIA was invented by Charles Dow back in
1896. |
| 道琼斯公用事业平均指数 |
DJUA |
The Dow Jones Utility Average
is a price-weighted average of 15 utility stocks traded
in the United States. The DJUA was started back in 1929.
|
| 道琼斯公用事业平均指数 |
Dow Jones Utility Average
(DJUA) |
The Dow Jones Utility Average
is a price-weighted average of 15 utility stocks traded
in the United States. The DJUA was started back in 1929.
|
| 道琼斯交通平均指数 |
DJTA |
The Dow Jones Transportation
Average is a price-weighted average of 20 transportation
stocks traded in the United States. The average was
started back in 1884. |
| 道琼斯交通平均指数 |
Dow Jones Transportation
Average (DJTA) |
The Dow Jones Transportation
Average is a price-weighted average of 20 transportation
stocks traded in the United States. The average was
started back in 1884. |
| 道氏理论 |
Dow Theory |
A theory which says the
market is in an upward trend if one of its averages
(industrial or transportation) advances above a previous
important high, it is accompanied or followed by a
similar advance in the other. |
| 等值 |
Par |
- The face value of a bond. Generally $1,000 for
corporate issues, with higher denominations such as
$10,000 for many government issues.
- A dollar amount assigned to a security when first
issued.
|
| 等值债券 |
Parity Bond |
Two or more bond issues with
equal rights to bond payments and pledged revenues.
|
| 低价交易 |
Downtick |
A transaction on an exchange
occurring at a price below the previous transaction.
|
| 低价交易量 |
Downtick Volume |
The share volume of a
security that trades at a price lower than its previous
price. |
| 低负债资产负债表 |
Clean Balance Sheet |
Referring to a company whose
balance sheet has very little or no debt. |
| 低市值公司 |
Small-Cap |
Refers to stocks with a
relatively small market capitalization. The definition
of small-cap can vary among brokerages, but generally a
company between $300 million to $2 billion in market cap
is considered a small cap. |
| 抵押品 |
Collateral |
Properties or assets that are
offered to secure a loan or other credit. Collateral
becomes subject to seizure on default. |
| 地产让与证书 |
Conveyance |
A written instrument, such as
a deed or lease, that transfers some ownership interest
in real property from one person to another. |
| 地区股票交易所 |
Regional Stock Exchange |
Any exchange that resides
beyond the country's main financial center. |
| 递延利息债券 |
Deferred Interest Bond |
A debt instrument that pays
no interest until a date specified in the future. |
| 递延年金 |
Deferred Annuity |
An annuity contract that
delays payments of income, installments, or a lump sum
until the investor elects to receive them. |
| 递延收入 |
Deferred Revenue |
A liability account used for
deposits and other cash receipts prior to the completion
of the sale. |
| 递延所得税 |
Deferred Income Tax |
A liability that results from
income already earned and recognized for accounting
purposes, but not for tax purposes, that is recorded on
the balance sheet. |
| 递延帐户 |
Deferred Account |
An account that postpones tax
liabilities until a later date. Deferred accounts are
usually retirement accounts. |
| 第三方保管契约 |
Escrow |
A financial instrument held
by a third party on behalf of others until their written
or oral instructions or obligations have been fulfilled.
|
| 第三方保管协议 |
Escrow Agreement |
A certificate provided by an
approved bank that guarantees the indicated securities
are deposited at that particular bank. |
| 电子商贸 |
Ecommerce |
When a person or business
uses the Internet as part of their business model.
|
| 掉期 |
Swap |
Traditionally, the exchange
of one security for another to change the maturity
(bonds), quality of issues (stocks or bonds), or because
investment objectives have changed. Recently, swaps have
grown to include currency swaps and interest rates
swaps. |
| 掉期利率 |
Swap Rate |
The rate of the fixed portion
of a swap as determined by its particular market. This
is the rate at which the swap will occur for one of the
parties entering into the agreement. |
| 掉期息差 |
Swap Spread |
- The difference between the negotiated and fixed
rate of a swap. The spread is determined by
characteristics of market supply and creditor
worthiness.
- The difference between the swap rate and the
lending rate offered through other investment vehicles
with comparable characteristics.
|
| 顶尖业务 |
Crown Jewels |
The most valuable unit of a
corporation because of profitability, asset value,
future prospects, etc. |
| 订单积压 |
Backlog |
The total value of sales
orders waiting to be fulfilled. |
| 定额投资 |
Closed-End Investment |
When an investment company
issues a fixed number of shares in an actively managed
portfolio of securities. The shares are traded in the
market just like common stock. |
| 定价能力 |
Pricing Power |
An economic term referring to
the effect that a change in a firm's product price has
on the quantity demanded of that product. Pricing power
ties in with the "Price Elasticity of Demand." |
| 定量分析 |
Quantitative Analysis |
A security analysis that uses
financial information derived from company annual
reports and income statements to evaluate an investment
decision. |
| 定期存款 |
Time Deposit |
A savings account or CD held
for a fixed-term with the understanding that the
depositor can only withdraw by giving written notice.
|
| 定性分析 |
Qualitative Analysis |
Analysis that uses subjective
judgment in evaluating securities based on non-financial
information such as management expertise, cyclicality of
industry, strength of research and development, and
labor relations. |
| 董事会 |
Board Of Directors |
Individuals elected by
stockholders to establish corporate management policies.
A board of directors makes decisions on major company
issues and controls when dividends will be paid to
stockholders. |
| 独立基金 |
Segregated Fund |
A type of annuity that is
similar to a mutual fund. Segregated Funds are an
insurance product and are only offered by insurance
companies. |
| 独立审计师 |
Independent Auditor |
An external auditor with a
certified public accounting designation that qualifies
him or her to provide an auditor's report. |
| 独资经营 |
Sole Proprietorship |
A business organization that
is unincorporated and has only one owner. |
| 杜邦分析 |
Du Pont Analysis |
A method of performance
measurement that was started by the DuPont Corporation
in the 1920s, and has been used by them ever since. With
this method, assets are measured at their gross book
value rather than at net book value in order to produce
a higher ROI. |
| 杜邦特性理论 |
Du Pont Identity |
An expression breaking down
return on equity (ROE) into three parts: profit margin,
total asset turnover, and financial leverage.
The Du
Pont identity tells us that ROE is affected by 3 things:
- Operating efficiency (as measured by profit
margin)
- Asset use efficiency (as measured by total asset
turnover)
- Financial leverage (as measured by the equity
multiplier)
|
| 短期国库券 |
Treasury Bill |
A U.S. Government debt
security with a maturity that is less than one year.
Treasury bills are issued through a competitive bidding
process at a discount from par. This means they do not
pay fixed interest payments like most bonds do. |
| 短期同业拆借利率，通知贷款利率 |
Call Loan Rate |
The short term interest rate
charged on a secured call loan, usually in margin
accounts. |
| 短期同业拆借，通知贷款 |
Call Loan |
A loan provided to a
brokerage firm and used to finance margin accounts. The
interest rate on a call loan is calculated daily. The
resulting interest rate is referred to as the call loan
rate. |
| 对冲 |
Hedge |
Making an investment to
reduce the risk of adverse price movements in an asset.
Normally, a hedge consists of protecting a position in a
related security. |
| 对冲比率 |
Hedge Ratio |
- A ratio comparing the amount you are hedging with
the size of the position being hedged against.
- A ratio comparing the value of futures contracts
purchased or sold versus the value of the cash
commodity being hedged against.
|
| 对冲基金 |
Hedge Fund |
An aggressively managed
portfolio taking positions on safe and speculative
opportunities. Most hedge funds are limited to a maximum
of 100 investors. For the most part, hedge funds are
unregulated because it is assumed the people investing
in these are very sophisticated and wealthy. |
| 多元化 |
Diversification |
A risk management technique
that mixes a wide variety of investments within a
portfolio. It is designed to minimize the impact of any
one security on overall portfolio performance. |
| 多元化普通股资金 |
Diversified Common Stock
Fund |
A mutual fund that invests
its assets in a wide range of common stocks. The fund's
objectives can be growth, income, or a combination of
both. |
| 多数股东 |
Majority Shareholder |
A person or conglomerate who
owns more than 50% of the outstanding shares for a
corporation. |
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