证券投资中英文对照术语

实物资产real assets金融资产financial assets资产负债表balance sheet现金流量表statement of cash flows损益表income statement会计收入accounting earnings帐面价值book value流动比率current ratio速动比率quick ratio酸性测试比率acid test ratio资产周转率asset turnover (ATO)应收帐款平均收款期或应收天数average collection period or day’s receivables积极管理active management积极型资产组合active portfolio美式期权、欧式期权American depository \ European depository看涨期权call option看跌期权put option套利arbitrage套利定价理论arbitrage pricing theory资产配置决策asset allocation decision资本配置决策capital allocation decision银行贴现收益率bank discount yield银行承兑汇票banker’s acceptance基差basis基差风险basis risk二叉树模型binomial model布莱克舒尔斯顶界公式Black-Scholes formula大宗交易block transactions普通股common stock优先股preferred stock债券bond面值par value公司债券corporate bonds可赎回债券callable bond可卖回债券put bond可转换债券convertible bond信用债券或无担保债券debenture or unsecured bond现金/债券选择cash \ bond selection经纪人市场brokered market佣金经纪人commission broker 牛市、熊市bullish \ bearish经济周期business cycle赎回保护期call protection资本利得capital gains资本市场capital market资本市场线capital market line (CML)现金交割cash delivery现金等价物cash equivalents清算所clearinghouse交易所exchanges股票交易所stock exchanges场外交易市场over-the-counter market抵押品collateral有担保的抵押债务collateralized mortgage obligation封闭型（共同）基金closed-end (mutual) fund 整个资产组合complete portfolio固定增长模型constant growth model或有债权contingent claim交叉持股cross holdings经常项目current account衍生资产derivative asset衍生证券derivative security红利折现模型discounted dividend model (DDM)红利支付率dividend payout ratio可分散风险diversifiable risk分散化diversification有效分散化efficient diversification道氏理论Dow theory久期duration有效率边界efficient frontier欧洲美元Eurodollars超额收益excess return名义利率nominal interest rate真实利率real interest rate实际复利realized compound yield汇率exchange rate汇率风险exchange rate risk(利率的)预期假定expectations hypothesis (of interest rates)预期收益expected return面值face value因素模型factor model金融资产financial assets金融中介financial intermediary财政政策fiscal policy固定收益证券fixed-income security浮动利率债券floating-rate bond外汇市场foreign exchange market外汇互换foreign exchange swap利率互换interest rate swap远期合约forward contract远期利率forward interest rate期货合约futures contract期货期权futures option期货价格futures price基本面分析fundamental analysis套期保值hedging持有期收益holding-period return指数模型index model指数期权index option通货膨胀inflation首次公开发行initial public offering内部信息inside information内幕交易insider trading清偿价值liquidation value(企业的)内在价值intrinsic value（of a firm）期权的内在价值intrinsic value of an option 投资银行investment bankers投资级债券investment-grade bond垃圾债券junk bond投资组合investment portfolio一价定律law of one price流动性liquidity流动偏好理论liquidity preference theory流动性溢价liquidity premium市场或系统风险market or systematic risk非系统风险nonsystematic risk交易所的会员或席位membership or seat on a exchange最小方差边界minimum-variance frontier最小方差资产组合minimum-variance portfolio最优风险资产组合optimal risky portfolio现代资产组合理论modern portfolio theory (MPT) 资产组合管理portfolio management货币政策monetary policy货币市场money market抵押担保证券mortgage-backed security 转手证券pass-through security单因素模型single-factor model单指数模型single-index model多因素CAPM模型multifactor CAPM共同基金mutual fund开放型基金open-end fund纳斯达克Nasdaq消极投资策略passive investment strategy 消极管理passive management消极型资产组合passive portfolio消极策略passive strategy波峰peak市盈率price-earnings ratio市盈率效应P/E effect公司利润再投资率plowback ratio溢价premium原生证券primitive security衍生证券derivative security一级市场primary market二级市场secondary market本金principal利润率profit margin公开发行public offering私募private placement随机漫步random walk资产收益率return on assets (ROA)股本收益率return on equity (ROE)销售收益率return on sales (ROS)风险套利risk arbitrage风险厌恶risk-averse风险中性risk-neutral风险偏好者risk lover无风险资产risk-free asset无风险收益率risk-free rate风险溢价risk premium风险资产risk asset证券化securitization证券分析security analysis证券市场线security market line证券选择security selection有效市场假定efficient market hypothesis强有效市场假定strong-form EMH半强有效市场假定semistrong-form EMH弱有效市场假定weak- form EMH资产分割separation property短期利率short interest rate空头头寸short position套期hedge卖空short sale投机speculation投机级债券speculative-grade bong即期利率spot rate股票选择上stock selection股票拆分stock split止损指令stop-loss order对敲straddle技术分析technical analysis基本分析利率期限结构term structure of interest rate 时间价值time value三级市场third market国库券treasury bill中长期国债treasury bond or note承销underwriting波动性风险volatility risk认股权证warrant周末效应weekend effect充分分散化的资产组合well-diversified portfolio收益率曲线yield curve到期收益率yield to maturity零息票债券zero-coupon bond零投资组合zero-investment portfolio财务比率分析financial ratio analysis四类财务比率four major categories of financial ratios短期偿债能力比率liquidity ratios长期偿债能力比率long-term liquidity ratios 资产管理比率asset management ratios盈利能力比率profitability ratios短期偿债能力比率营运资本working capital流动比率current ratio速动比率quick ratio 现金流量比率cash flow ratio长期偿债能力比率资产负债率debt ratio产权比率和权益乘数debt-to-equity ratio/equity multiplier长期资本负债率debt-to-long capital ratio金融市场financial markets金融资产financial asset金融市场的分类1．短期资金市场和长期资金市场money markets/capital markets2．现货市场和期货市场spot markets/future markets3．发行市场和流通市场primary markets（一级市场）/secondary markets（二级市场）primary markets（一级市场）按照对象不同，分为：public offer markets （向公众发行的市场，首次公开发行市场：initial public offer 即IPO）和private placement markets（私募市场）。