|
中文词句 |
English Terms |
English Definitions |
| 息票 |
Coupon |
The interest rate stated on a
bond when it's issued. The coupon is typically paid
semiannually. |
| 稀有 |
Scarcity |
The basic economic problem,
which arises from people having unlimited wants while
there are and always will be limited resources. Because
of scarcity, various economic decisions must be made to
allocate resources efficiently. |
| 洗黑钱 |
Money Laundering |
The process by which large
amounts of money illegally obtained from drug
trafficking, terrorist activity, or other serious
crimes, is given the appearance of having originated
from a legitimate source. |
| 系统性风险 |
Systematic Risk |
risk that influences a large
number of assets. |
| 下调评级 |
Downgrade |
A negative change in the
rating of a security. |
| 下游 |
Downstream |
Refers to oil and gas
operations after the production phase and through to the
point of sale. |
| 先进先出 |
First In, First Out (FIFO) |
An inventory management and
valuation method where the products acquired first are
the ones sold first. |
| 先投资，后调查 |
Invest, Then Investigate |
An investment strategy where
investors immediately purchase a stock and then do
research and due diligence afterwards. |
| 闲置时间 |
Idle Time |
Unproductive time spent by
employees due to factors beyond their control. |
| 现货 |
Cash Commodity |
The term used to refer to the
actual or physical commodity underlying a futures
contract. |
| 现货即期价格 |
Spot Price |
The current price at which a
particular commodity can be bought or sold at a
specified time and place. |
| 现货商品 |
Spot Commodity |
A commodity traded on the
spot market. That is, with the expectation of actual
delivery, as opposed to a commodity future that is
usually not delivered. |
| 现货市场 |
Cash Market |
The market for a cash
commodity or actual, as opposed to its futures contract.
|
| 现货市场 |
Spot Market |
- A commodities market in which goods are sold for
cash and delivered immediately.
- A futures transaction which will expire in 1 month
or less.
|
| 现金 |
Cash |
Legal tender or coins that
can be used in exchange goods, debt, or services.
Sometimes also including the value of assets that can be
converted into cash immediately, as reported by a
company. |
| 现金的现金回报率 |
Cash on Cash Return |
A rate of return often used
in real estate transactions. The calculation determines
"cash income" on "cash invested."
Annual Dollar Income
-----------------------------------------------------------
Total
Dollar Investment |
| 现金股息 |
Cash Dividend |
Money paid to stockholders,
normally out of the corporation's current earnings or
accumulated profits. All dividends must be declared by
the board of directors, and are taxable income to the
recipients. |
| 现金及现金等价物 |
Cash And Cash Equivalents |
An element recorded on the
balance sheet, it reports the value of cash and its
equivalents. These are assets that are cash or can be
converted into cash immediately. |
| 现金价格 |
Cash Price |
The price of the purchase and
delivery of cash commodities. |
| 现金流 |
Cash Flow |
The amount of cash a company
generates and uses during a period, calculated by adding
noncash charges (such as depreciation) to the net income
after taxes. Cash Flow can be used as an indication of a
company's financial strength.
It is also sometimes
referred to as the "money value" of trades in a stock
during a trading day |
| 现金每股盈利 |
Cash EPS |
A ratio derived from
operating cash flow divided by diluted shares
outstanding. |
| 现金投资 |
Cash Investment |
Short-term obligations,
usually ninety days or less, that provide a return in
the form of interest payments. |
| 现金余额养老金计划 |
Cash Balance Pension Plan |
An employee pension plan
whereby an employer will credit the participant's
account with a set percentage of their yearly
compensation plus interest charges. |
| 现金预算 |
Cash Budget |
An estimation of the cash
inflows and outflows for a business. |
| 现时价格 |
Current Price |
The "real time" price of a
security trading on an exchange. |
| 现时年期 |
Current Maturity |
The interval between the
present date and the maturity date of a bond. |
| 现时收益率 |
Current Yield |
Annual income (interest or
dividends) divided by the current price of the security.
|
| 现值 |
Present Value |
The amount today that a sum
of money in the future is worth, given a specified rate
of return. |
| 相对实力 |
Relative Strength |
A measure of price trend that
indicates how a stock is performing relative to other
stocks in its industry. It is calculated dividing the
price performance of a stock by the price performance of
an appropriate index for the same time period. |
| 相对市盈率比率 |
Price-Earnings Relative |
A stocks price-earnings ratio
divided by the price-earnings ratio for a market
measure, such as the S&P 500 index or Wilshire 5000.
|
| 相关证券、相关股票 |
Underlying |
- In options, the security that must be delivered if
a put or call option is exercised.
- In equities, the common stock that underlies
certain types of securities such as warrants and
convertible bonds
|
| 项目融资 |
Project Finance |
Project finance is defined by
the The International Project Finance Association (IPFA)
as:
The financing of long-term infrastructure,
industrial projects and public services based upon a
non-recourse or limited recourse financial structure
where project debt and equity used to finance the
project are paid back from the cashflow generated by the
project. |
| 消费物价指数 |
CPI |
A measure of price changes in
consumer goods and services such as gasoline, food, and
automobiles |
| 消费物价指数 |
Consumer Price Index (CPI) |
A measure of price changes in
consumer goods and services such as gasoline, food, and
automobiles |
| 消费信贷 |
Consumer Credit |
A debt that someone incurs
for the purpose of purchasing a good or service. |
| 消费者信心指数 |
Consumer Confidence Index
(CCI) |
A survey of consumer
confidence by the Conference Board. It measures how
optimistic or pessimistic consumers are with respect to
the economy in the near future. |
| 销记、注销 |
Write-Off |
To charge an asset amount to
expense or loss in order to reduce the value of that
asset and one's earnings. |
| 销售报酬 |
Concession |
A selling group's
compensation in an underwriting (on a per-share or
per-bond basis). |
| 销售额与现金流比率 |
Sales to Cash Flow Ratio |
A ratio that indicates
whether or not a company's sales are high in comparison
to its cash flow.
Calculated as:
Sales per Share
------------------------------------------------------
Cash Flow
per Share |
| 销售回报率 |
Return On Sales (ROS) |
A widely used ratio that
detects operational efficiency. It is calculated by
dividing net income before interest and tax by the
sales. |
| 销售及行政开支 |
Selling, General, &
Administrative Expenses (SG&A) |
Reported on the Income
Statement, it is all the costs associated with selling
and the general expenses of running the business. |
| 销售税 |
Sales Tax |
A tax that is imposed on the
sale price of a retail good or services. |
| 效益比例 |
Efficiency Ratio |
A ratio used to calculate a
bank's efficiency. Not all banks calculate the
efficiency ratio the same way. We've seen the ratio
calculated as all of the following:
- non-interest expense divided by total revenue less
interest expense
- non-interest expense divided by net interest
income before provision for loan losses
- non-interest expense divided into revenue
- operating expenses divided by fee income plus tax
equivalent net interest income
For all
versions of the ratio, an increase means the company is
losing a larger percentage of its income to expenses. If
it is getting lower, it is good for the bank and its
shareholders. |
| 效益成本比率 |
Benefit Cost Ratio - (BCR) |
A ratio attempting to clearly
identify the relationship between the cost and benefits
of a proposed project. |
| 协同效应 |
Synergy |
Used mostly in the context of
mergers and acquisitions, synergy is the idea that the
value and performance of two companies combined will be
greater than the sum of the separate individual parts.
|
| 新经济 |
New Economy |
A buzzword describing the
new, high growth industries that are on the cutting edge
of technology and are the driving force of economic
growth. |
| 新闻稿 |
Press Release |
If it's an earnings press
release, the release will discuss the financial results
of the company for the recently completed quarter and
may provide comments from management. Press releases
often list valuable contact information that can assist
you in your research, such as the company's web address.
|
| 新兴市场基金 |
Emerging Market Fund |
A mutual fund investing a
majority of its assets in the financial markets of a
developing country, typically a small market with a
short operating history. |
| 信贷额度、资金设施 |
Facility |
A term used to describe
financial assistance programs offered by lending
institutions to help companies requiring capital. |
| 信贷额度、信贷限额 |
Line of Credit |
An arrangement between a
financial institution (usually a bank) and a customer
establishing a maximum loan balance that the bank will
permit the borrower to maintain. |
| 信贷风险 |
Credit Risk |
The possibility of a loss
occurring due to the financial failure to meet
contractual debt obligations. |
| 信贷违约掉期 |
Credit Default Swap |
A swap designed to transfer
the credit exposure of fixed income products between
parties. |
| 信贷息差 |
Credit Spread |
- The spread between Treasury securities and
non-Treasury securities that are identical in all
respects except for quality rating.
- An options strategy where a high premium option is
sold and a low premium option is bought on the same
underlying security.
|
| 信贷、信用、贷项 |
Credit |
- A contractual agreement in which a borrower
receives something of value now, with the agreement to
repay the lender at some date in the future. Also, the
borrowing capacity of an individual or company.
- An accounting entry system that either decreases
assets or increases liabilities.
|
| 信贷衍生工具 |
Credit Derivative |
Privately held negotiable
bilateral contracts that allow users to manage their
exposure to credit risk. Credit Derivatives are
financial assets like forward contracts, swaps, and
options for which the price is driven by the credit risk
of economic agents (private investors or governments).
|
| 信托 |
Trust |
A fiduciary relationship in
which one person, a trustee, holds title to property or
assets for the benefit of another person, the
beneficiary |
| 信用合作社 |
Credit Union |
Member-owned financial
co-operative. These institutions are created and
operated by its members and profits are shared amongst
the owners. |
| 信用卡 |
Credit Card |
A card allowing someone to
make a purchase on borrowed money. Credit cards are one
of the most popular forms of payment for consumer goods
and services in the United States. |
| 信用评级 |
Credit Rating |
An assessment of the credit
worthiness of individuals and corporations. It is based
upon the history of borrowing and repayment, as well as
the availability of assets and extent of liabilities.
|
| 信用悬崖 |
Credit Cliff |
A slang term meaning that
credit deterioration could be compounded by provisions
such as rating triggers or financial covenants. These
can put pressure on the company's liquidity or its
business to a material extent. |
| 信用证 |
Letter of Credit |
A letter from a bank
guaranteeing that a buyer's payment to a seller will be
received on time and for the correct amount. |
| 行为经济学 |
Behavioral Economics |
A field of economics that
studies how the actual decision-making process
influences the decisions that are reached. |
| 行为金融学 |
Behavioral Finance |
A field of finance that
proposes psychology-based theories to explain stock
market anomalies. Within behavioral finance it is
assumed that the information structure and the
characteristics of market participants systematically
influence their investment decisions as well as market
outcomes. |
| 行使价格 |
Strike Price |
The stated price per share
for which underlying stock may be purchased (for a call)
or sold (for a put) by the option holder upon exercise
of the option contract. |
| 行使、执行 |
Exercise |
An action by a stockholder
taking advantage of a privilege offered by a company or
other financial institution. This includes warrants,
options, and other exotic financial instruments. |
| 熊市 |
Bear Market |
A market in which prices of a
certain group of securities are falling or are expected
to fall. Although figures can vary, a downturn of
15%-20% or more in multiple indexes (Dow or S&P 500)
is considered a bear market. |
| 需求 |
Demand |
A consumer's desire and
willingness to pay for a good or service. |
| 需求的价格弹性 |
Price Elasticity of Demand |
Price Elasticity measures the
responsiveness of the quantity demanded of a good to a
change in its price. It is calculated as:
% Change in Quantity Demanded
----------------------------------------------------------
%
Change in Price |
| 需求建档 |
Book Building |
The process by which the
offer price of an IPO is based on actual demand from
institutional investors. |
| 宣告(合约)无效、废止契约 |
Defeasance |
A provision that voids a bond
or loan when the borrower sets aside cash or bonds
sufficient enough to service the borrower's debt. |
| 选出最有利的(投资等) |
Cherry Picking |
- The act of investors choosing investments that
have performed well within another portfolio in
anticipation that the trend will continue.
- Relating to bankruptcy proceedings whereby the
courts uphold contracts favorable to bankrupt
companies, but annul those that are unfavorable.
|
| 循环信贷 |
Revolving Credit |
A line of credit where the
customer pays a commitment fee and is then allowed to
take and repay funds at will. It is usually used for
operating purposes, fluctuating each month depending on
revenues and expenditures |
| 迅速换手投资者 |
Flipper |
A short-term investor or day
trader who buys pre IPO shares, swiftly spinning them
out into public markets for a quick profit.
|
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