|
中文词句 |
English Terms |
English Definitions |
| H股 |
H-Shares |
A share of a Chinese company
listed on the Hong Kong Stock Exchange. |
| 行业 |
Industry |
A category used to describe a
company's primary business activity, usually determined
by the largest source of a company's revenues. |
| 行业基金 |
Sector Fund |
A mutual fund whose objective
is to invest in a particular industry or sector of the
economy to capitalize on returns. |
| 行业类股 |
Sector |
A particular group of
securities that are in the same industry. |
| 合并 |
Merger |
The combining of two or more
companies, generally by offering the stockholders of one
company securities in the acquiring company in exchange
for the surrender of their stock. |
| 合并套利 |
Merger Arbitrage |
A hedge fund strategy whereby
the stocks of two merging companies are simultaneously
bought and sold to create a riskless profit. Merger
arbitrageur look at the risk of the deal not closing on
time or at all. Because of this slight uncertainty the
target company's stock will typically sell at a discount
to the price that the combined company has when the
merger is closed. |
| 合成出售期权 |
Synthetic Put |
An investment strategy of
short selling a security and entering a long position on
its call. |
| 合成有抵押债务 |
Synthetic Collateralized Debt
Obligation |
An artificial collateralized
debt obligation that is backed by a pool of credit
derivatives. |
| 合成租赁 |
Synthetic Lease |
An operating lease that is
structured in a way so that it is not recorded as a
liability on the balance sheet. Instead, it is
considered to be an expense on the income statement. |
| 合资格机构投资者 |
QIB |
Primarily referring to
institutions that manage at least $100 million in
securities including banks, savings and loans
institutions, insurance companies, investment companies,
employee benefit plans, or an entity owned entirely by
qualified investors. Also included are registered
broker-dealers owning and investing, on a discretionary
basis, $10 million in securities of non-affiliates. |
| 合资格机构投资者 |
Qualified Institutional Buyer
(QIB) |
Primarily referring to
institutions that manage at least $100 million in
securities including banks, savings and loans
institutions, insurance companies, investment companies,
employee benefit plans, or an entity owned entirely by
qualified investors. Also included are registered
broker-dealers owning and investing, on a discretionary
basis, $10 million in securities of non-affiliates. |
| 合资企业、合资经营 |
Joint Venture |
The cooperation of two or
more individuals or businesses in a specific enterprise,
each agreeing to share profit, loss, and control. |
| 荷兰拍卖 |
Dutch Auction |
An auction where the price on
an item is lowered until it gets its first bid, and then
the item is sold at that price. |
| 黑色星期四 |
Black Thursday |
The colloquial name given to
Thursday, October 24th, 1929 when the New York Stock
Exchange plummeted leading to the great depression of
the 1930's. |
| 黑色星期一 |
Black Monday |
The most notorious day in
financial history (October 19, 1987). The DJIA fell 508
points, almost 22%. This stands as the largest one-day
drop in NYSE history. |
| 黑武士 |
Black Knight |
A company that makes a
hostile takeover offer on a target company. |
| 恒生指数 |
HSI |
An index of the leading
stocks on the Hong Kong stock market. |
| 恒生指数 |
Hang Seng Index (HSI) |
An index of the leading
stocks on the Hong Kong stock market. |
| 横向合并 |
Horizontal Merger |
A merger occurring between
companies producing similar goods or offering similar
services. |
| 横向整合 |
Horizontal Integration |
When a company expands its
business into different products that are similar to
current lines. |
| 红筹公司 |
Red Chip |
A company incorporated and
listed in Hong Kong with controlling Chinese
shareholders. |
| 红头招股书、公开说明书初稿 |
Red Herring |
A preliminary registration
statement that must be filed with the SEC or provincial
securities commission. It describes the issue (IPO) and
the prospects of the company. There is no price or issue
size stated in the Red Herring. |
| 宏观经济 |
Macroeconomics |
The field of economics that
studies the behavior of the economy as a whole. |
| 后进先出 |
LIFO |
A inventory management and
valuation method whereby products acquired last are the
ones sold first. |
| 后进先出 |
Last In First Out (LIFO) |
A inventory management and
valuation method whereby products acquired last are the
ones sold first. |
| 后门上市/借壳上市 |
Back Door Listing |
A strategy of going public
used by a company that fails to meet the criteria for
listing on a stock exchange. To get onto the exchange,
the company desiring to go public acquires an
already-listed company. |
| 后线 |
Back Office |
Administration and support
personnel in a financial services company. They carry
out functions like: settlements, clearances, record
maintenance, regulatory compliance, accounting, etc. |
| 后续发行 |
Follow-on Offering |
An offering of additional
shares after a company has had an initial public
offering. |
| 后续发行 |
Subsequent Offering |
An offering of additional
shares after a company has had an initial public
offering (IPO). |
| 互相争夺市场 |
Market Cannibilization |
The negative impact a new
product has on the sales performance of a company's
existing, related products. |
| 华尔街 |
Wall Street |
- The street in New York where the NYSE is located.
- The NYSE itself.
- Also the collective name for the financial
institutions in New York City. Including stock
exchanges, banks, commodity markets, money markets,
etc.
|
| 还本付息 |
Debt Service |
Cash required in a given
period for the repayment of interest and principal of a
debt. |
| 换算风险 |
Translation Exposure |
The exchange rate risk
associated with companies that deal in foreign
currencies or list foreign assets upon their balance
sheets. |
| 黄金股 |
Golden Share |
A type of share that gives
its shareholder veto power over changes to the company's
charter. |
| 黄金降落伞 |
Golden Parachute |
Lucrative benefits given to
top executives in the event that a company is taken over
by another firm, resulting in the loss of their job.
Benefits include items such as stock options, bonuses,
severance pay, etc. |
| 黄金救生衣 |
Golden Lifejacket |
An exceptional compensation
package an acquiring company offers to the top
executives of the company being acquired. The offer is
meant to keep these executives attracted to holding
their offices. |
| 黄武士 |
Yellow Knight |
A company that was once
making a takeover attempt but ends up discussing a
merger with the target company. |
| 灰市 |
Gray Market |
- An unofficial market where new issues of shares
are bought and sold before they officially become
available for trading on the stock exchange.
- The sale of goods by unauthorized dealers.
|
| 灰武士 |
Gray Knight |
A second, unsolicited bidder
in a corporate takeover. A gray knight enters the scene
in order to take advantage of any problems between the
first bidder and the target company. |
| 回报率 |
Return |
The gain or loss for a
security in a particular period, consisting of income
plus capital gains relative to investment. It is usually
quoted as a percentage. |
| 回购 |
Buy Back |
- The buying back of shares by a corporation in
order to reduce the number of shares on the market.
- D207The purchasing of shares previously sold short
so the open position is closed.
|
| 回购股份 |
Share Repurchase |
A company's plan to buy back
its own shares from the marketplace, reducing the number
of outstanding shares. Typically, this is an indication
that the company's management thinks the shares are
undervalued |
| 混合证券 |
Hybrid Security |
A security that combines two
or more different financial instruments. |
| 活动比率 |
Activity Ratio |
Accounting ratios that
measure a firm's ability to convert different accounts
within their balance sheets into cash or sales. |
| 活动收入 |
Active Income |
Income for which services
have been performed. This includes wages, tips,
salaries, commissions, and income from businesses in
which there is material participation |
| 活期存款 |
Demand Deposit |
An account where deposited
funds can be withdrawn at any time. |
| 活跃债券投资者 |
Active Bond Crowd |
A term used to describe
fixed-income securities that trade frequently on the
floor of the NYSE. |
| 货币 |
Currency |
Money circulated within an
economy, including coins and paper notes. |
| 货币掉期 |
Currency Swap |
A swap that involves the
exchange of principal and interest in one currency for
the same in another currency. |
| 货币管理外包 |
Currency Overlay |
The outsourcing of currency
risk management to a specialist firm, known as the
overlay manager. This is used in international
investment portfolios to separate the management of
currency risk from the asset allocation and security
selection decisions of the investor's money managers. |
| 货币供应 |
Money Supply |
The entire quantity of a
country's bills, coins, loans, credit, and other liquid
instruments in the economy. It is divided into three
categories, M1, M2, and M3, according to the type and
size of account the instrument is kept in. |
| 货币供应量1 |
M1 |
The category of the money
supply that includes all physical money like coins and
currency. It also includes demand deposits, which are
checking accounts and NOW accounts. |
| 货币供应量2 |
M2 |
A category of the money
supply that includes M1 in addition to all time-related
deposits, savings deposits, and non-institutional
money-market funds. |
| 货币供应量3 |
M3 |
A category of the money
supply that includes M2 in addition to all large time
deposits, institutional money-market funds, short-term
repurchase agreements, along with other larger liquid
assets. |
| 货币流量 |
Money Flow |
Calculated by averaging the
high, low, and closing prices, and multiplying by the
daily volume. Comparing that result with the number for
the previous day tells you whether money flow was
positive or negative for the current day. |
| 货币流量指数 |
Money Flow Index (MFI) |
A momentum indicator that
measures the strength of money in and out of a security.
A divergence between the MFI and price trend can be
interpreted as a possible trend reversal. |
| 货币期货 |
Currency Futures |
A transferable futures
contract that specifies the price at which a specified
currency can be bought or sold at a future date. |
| 货币期权 |
Currency Option |
A contract that grants the
holder the right, but not the obligation, to buy or sell
currency at a specified price during a specified period
of time. |
| 货币市场 |
Money Market |
The securities market dealing
in short-term debt and monetary instruments. Money
market instruments are forms of debt that mature in less
than one year and are very liquid. |
| 货币市场基金 |
Money Market Fund |
A mutual fund that invests in
short-term debt instruments. The fund's objective is to
earn interest for shareholders while maintaining a net
asset value of $1.00 per share. |
| 货币市场账户 |
Money Market Account |
A savings account that offers
the competitive rate of interest (real rate) in exchange
for larger than normal deposits. |
| 货币远期 |
Currency Forward |
A forward contract that
locks-in the price an entity can buy or sell currency on
a future date. |
| 货币政策 |
Monetary Policy |
The actions of a central
bank, currency board, or other regulatory committee,
that determine the size and rate of growth of the money
supply, which in turn affects interest rates. |
| 获利抛售 |
Profit Taking |
Occurs when traders sell
stock to cash in on a sharp rise. This action pushes
prices down temporarily. |
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