高盛财经词典英汉对照041019110012

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高盛银行财经词典(英汉)

计算方法：
率
需出售库存的情况下解决其短期负债。
Acid Test
酸性测试比一项严谨的测试，用以衡量一家公司是否拥有足够的短期资产，在无
Accretive Acquisition 具增值作用能提高进行收购公司每股盈利的收购项目的收购项目
Accounts Receivable 应收账款 (AR)
客户应付的金额。拥有应收账款指公司已经出售产品或服务但仍未收取款项
入的资源
积极管理寻求投资回报高于既定基准的投资策略
包含持续买卖行为的投资策略。主动投资者买入投资，并密切注意其走势，以期把握盈利机会
积极投资
来自提供服务所得的收入，包括工资、薪酬、奖金、佣金，以及来自实际参与业务的收入
活动收入
活跃债券投在纽约股票交易所内买卖活跃的定息证券资者
保险公司发行的债券，旨在将债券的本金及利息与天然灾害造成的公司损失联系起来
实际回报一名投资者的实际收益或损失，可用以下公式表示：预期回报加上公
一项用以衡量一家公司将其资产负债表内账项转为现金或营业额的能力的会计比率
活动比率
以活动为基利用以活动为基础的成本计算制度改善一家公司的运营础的管理
以活动为基一种制定预算的方法，过程为列举机构内每个部门所有牵涉成本的活础的预算案动，并确立各种活动之间的关系，然后根据此资料决定对各项活动投
1
Act of God Bond
Active Bond Crowd
Active Income
Active Investing
Active Management Activity Based Budgeting
Activity Based Management Activity Ratio Actual Return

高盛金融词汇英汉详解词典(92页)

Actual Return Actuary
实际回报精算
一名投资者的实际收益或损失，可用以下公式表示：预期回报加上公司特殊消息及总体经济消息保险公司的专业人员，负责评估申请人及其医疗纪录，以预测申请人的寿命
Activity Based Budgeting
Activity Based Management Activity Ratio
APICS Business Outlook Index
Appraisal
APICS（美国生产及库存控制协议）商业前景指数价值评估
美国全国性制造业指数，每月对多家制造业企业进行调查。若指数高于50，表示行业正在扩展，若低于50，则表示行业正在萎缩
对一项物业或业务价值的意见
Anti-takeover Statute Anti-trust Any and All Bid
Arbitrage Pricing Theory 套汇定价理论 (APT)
Arbitrage Bond
套汇债券
市政府在市政府现有高评级证券买回日期前发行的低评级债务证券
Arbitrage
套汇
同时买入及卖出证券，意图从差价中获利，在一般于不同的交易所或市场进行买卖
Appreciation
升值
资产价值上升
Arbitration
仲裁
Arbitrage Trading Program 套汇交易理论 (ATP)
是资本资产定价模式以外的另一个选择，主要分别在于其假设及对资产相关风险因素的诠释同时买入股票指数期货及相关股份的交易计划，旨在从差价中获利（市场套汇）
对争议的非正式听证，其间一组由公正委员会选出的人士（一般为三名）对争议作出裁判。在做出判决会，不设进一步上诉的机制一项产品的买方与卖方独立进行交易，互相之间并无任何关系

高盛财经词典—英汉对照

高盛财经词典—英汉对照American Depository Share (ADS) 美国存托股份根据存托协议发行的股份，代表发行企业在本土上市的股票American Option 美式期权可在有效期间随时行使的期权American Stock Exchange 美国股票交易所美国第三大股票交易所，位于纽约，处理美国交易证券总额的10%Amortization 摊销在一段期间分期偿还债务在一个特定时期资本开支的减少。

与类似相似，是一种衡量长期资产，例如设备或建筑物在特定期间价值的消耗Analyst 分析员具备评估投资专长的金融专业人员，一般受聘于证券行、投资顾问机构或共同基金。

分析员对不同的证券作出买入、卖出或持有的建议。

为了提供全面的研究分析，分析员一般会专注于不同的行业或经济板块Angel Investor 天使投资者向小型初始企业或创业者提供创业资金的财务投资者Annualize 年度化 1. 将不足一年的回报率转为全年回报率2. 将不足一年的税务期转为每年一度Annual General Meeting (AGM) 年度股东大会必须每年举行一次的股东会议，指在向股东通报公司的决策与工作Annual Report 年报一家公司每年一度的财务营运报告。

年报的内容包括资产负债表、损益表、审计师报告以及公司业务的概要Annuity 年金在特定期间定期定额支付的款项Annuity Due 即付年金需要即时支付，而不是在期末支付的年金Anti-dilution Provision 反摊薄条款期权或可转换证券的一项条款，用以保障投资者，不会由于未来公司以较低价格（低于有关投资者支付的价格）发行股份而被摊薄Anti-takeover Measure 反收购措施企业管理人员长期或不时采取，防止或延迟被恶意收购的措施Anti-takeover Statute 反收购法规旨在防止或延迟恶意收购的一套美国法规。

《高盛财经词典》汉英对照

《高盛财经词典》汉英对照A中文术语英文术语英文解释安静申请Quiet Filing The name given to an IPO filing where important details areintentionally excluded. Sent to the SEC in order to begin the processof issuing a new security, these details must be submitted throughamendments. This form of filing generally takes longer than theconventional methods.安全投资转移Flight to Quality When investors move their capital to the safest possible investmentvehicle. It is usually caused by uncertainty in the financial markets. 按比例Pro Rata Used to describe a proportionate allocation.B中文术语英文术语英文解释巴黎俱乐部Paris Club A monthly meeting, taking place in Paris, between the creditors of19 countries for the purpose of discussing debt issues. Among otherthings, the Paris Club addresses the issue of coordinated debt relieffor developing countries that cannot service their debt.白皮书White Paper An informational document issued by companies trying to promoteor 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 atarget company that is being faced with a hostile takeover from aseparate 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 acustomer's securities. This implies management as well assafekeeping.保管帐户Custodial Account 1. An account created at a bank, brokerage firm or mutual fundcompany that is managed by an adult for a minor that is under theage of 18 to 21 (depending on state legislation).保护主义Protectionism Actions taken by a government to prevent imports from destroyingdomestic producers.保荐人Sponsor 1.In the context of mutuals, an underwriting company thatoffers shares in its mutual funds.2.In the context of stocks, an influential investor who createsdemand 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 acontrolling block of shares and keep the existing management.保留盈余R/E The percentage of net earnings not paid out in dividends, butretained by the company to be reinvested in its core business or topay debt. It is recorded under shareholders equity on the balancesheet.Calculated by adding net income to (or subtracting any net lossesfrom) beginning retained earnings and subtracting any dividendspaid to shareholders.保留盈余Retained Earnings The percentage of net earnings not paid out in dividends, butretained by the company to be reinvested in its core business or topay debt. It is recorded under shareholders equity on the balancesheet.保收债券Cushion Bond A type of callable bond that sells at a premium because the issuedcoupon payments are above market interest rates保证金、按金Margin Account 1.The use of borrowed money to purchase securities, referredto as "buying on margin."2.The amount of equity contributed by a customer as apercentage of the current market value of the securities heldin a margin account.3.In a general business context, margin refers to thedifference 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 betacoefficient) is a means of measuring the volatility of a security orportfolio 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 theinvesting world, the term describes a method of calculating financialresults 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 GAAPmethods.背对背贷款Back-to-Back Loan A loan where two companies in different countries borrow offsettingamounts in each other's currency. The purpose of this transaction isto hedge against currency fluctuations.被动投资Passive Investing? An investment strategy involving limited ongoing buying andselling actions. Passive investors will purchase investments with theintention of long-term appreciation and limited maintenance.倍数Multiple Another term for the price/earnings ratio, which is calculated bydividing a stock's current price by the company's current annualearnings per share.倍数压缩Multiple Compression Arises when a stock trades at a certain multiple and, while earningsmay 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 1.The amount borrowed or the amount still owed on a loan,separate from interest.2.The original amount invested, separate from earnings.3.The face value of a bond.4.The owner of a private company.5.The main party to a transaction, acting as either a buyer orseller for his/her own account and risk.本年迄今YTD The period beginning January 1st of the current year up until today'sdate本年迄今Year To Date (YTD) The period beginning January 1st of the current year up until today'sdate本票Promissory Note A written, dated, and signed two-party instrument containing anunconditional promise by the maker to pay a definite sum of moneyto 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 upa firm's capital.比例税Proportional Tax An income tax that takes the same percentage of income fromeveryone 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 theobligation of either taking delivery of goods or paying a specifiedamount.避风港Safe Harbor 1. A legal provision to reduce or eliminate liability as long asgood faith is demonstrated.2. A form of shark repellant where a target company acquiresa business that is so poorly regulated that the target itself isless attractive. In effect, this gives the target company a"safe harbor."3.An accounting method that avoids legal or tax regulationsand allows for a simpler (usually) method of determining atax consequence than is available following the preciselanguage of the tax code.避税乐园Tax Haven A country that offers individuals and businesses little or no taxliability.边际税率Marginal Tax Rate The amount of tax paid on an additional dollar of income. Asincome rises, so does the tax rate.边际效用Marginal Utility The additional satisfaction obtained by a consumer from consumingone more unit of a good or service.贬值Devaluation Lowering the value of a country's currency compared to the value ofa 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 Deviation1. A measure of the dispersion of a set of data from its mean.The more spread apart the data is, the higher the deviation.2. In finance, standard deviation is applied to the annual rateof return of an investment to measure the investment'svolatility (risk). 标准普尔 S&P (Standard And Poor's) A company that rates stocks and corporate and municipal bondsaccording to risk profiles. Additionally, Standard and Poor'sproduces and tracks the S&P indexes, and publishes a variety offinancial and investment reports.标准普尔 S&P A company that rates stocks and corporate and municipal bondsaccording to risk profiles. Additionally, Standard and Poor'sproduces and tracks the S&P indexes, and publishes a variety offinancial 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 weightedindex, with each stock's weight in the index proportionate to itsmarket value表现超越大市 Market Outperform An analyst recommendation meaning a stock is expected to doslightly better than the market return.表现超越大市 Outperform An analyst recommendation meaning a stock is expected to doslightly better than the market return.表现股票 Performance Shares Shares of company stock that are given to managers only if certainperformance criteria is met.表现落后大市 Underperform An analyst recommendation that means a stock is expected to doslightly worse than the market return波动性 Volatility 1. In general, volatility is a statistical measure of the tendencyof a market or security to rise or fall sharply within a shortperiod of time. Volatility is typically calculated by usingvariance or annualized standard deviation of the price or return.2. Volatility is a variable that appears in option pricingformulas. In the option pricing formula, it denotes theextent to which the the return of the underlying asset willfluctuate 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 largestamount of the issue.补偿买进 Buy-In When an investor is forced to repurchase shares because the sellerdid not deliver the securities in a timely fashion, or did not deliverthem at all.不可抗力 Force Majeure Literally translated as "great force," this clause is included incontracts to remove liability for unforeseen events restrictingparticipants 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 thecreditor.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.C中文术语英文术语英文解释 CEDEL CEDEL A zero-coupon bond issued by a corporation, it can be converted into that corporation's common stock at a certain price. 财产转让Disposition Getting rid of an asset or security through a direct sale or some other method. 财产Property A legally owned possession or real estate. 财产税Property Tax A tax assessed on real estate by the local government. The tax is usually based on the value of property (including the land) you own. 财富500Fortune 500 An annual list of the 500 largest companies in the United States. The list is compiled using the most recent figures for revenue. 财富效应 The Wealth Effect The "wealth effect" refers to the propensity of people to spend moreif they have more assets. The premise is that when the value ofequities rises, so does our wealth and disposable income. Therefore, we feel more comfortable about spending.财富增值指数 Wealth Added Index (WAI) Designed by the Steward Stern & Co. consulting firm, this indexmeasures wealth intuitively as returns exceeding shareholder's costof capital.财富效应Wealth Effect The "wealth effect" refers to the propensity of people to spend moreif they have more assets. The premise is that when the value ofequities rises, so does our wealth and disposable income. Therefore,we feel more comfortable about spending. 财富管理 Wealth Management A professional service which is the combination offinancial/investment advice, accounting/tax services, andlegal/estate planning for one fee.财务Finance The science that describes the management of money, banking,credit, investments, and assets. 财务会计 Financial Accounting Reporting of the financial position and performance of a firmthrough financial statements issued to external users on a periodicbasis.财务会计标准委员会 Financial Accounting Standards Board - (FASB) Designated as the organization for establishing standards offinancial accounting and reporting. FASB standards govern thepreparation of financial reports and are recognized by the SEC. 财务表现Financial Performance A company's ability to generate new resources, from day-to-day operations, over a given period of time. 财务规划Financial Planner An investment professional who assists individuals put together a financial plan and coordinate various financial activities. 财务代理Fiscal Agent An organization, such as a bank or trust company, that takes responsibility for the fiscal duties of an unrelated party. 财务年度Fiscal Year Any 12-month period that a company uses for accounting purposes. 财政政策 Fiscal Policy Government spending policies that influence macroeconomicconditions. These policies affect tax rates, interest rates, andgovernment spending, in an effort to control the economy.CAMELS 评级制度 CAMELS Rating System An international bank-rating system with which bank supervisoryauthorities rate institutions according to six factors. The six areasexamined are represented by the acronym "CAMELS."参考比率 Reference Rate The underlying index or rate upon which a floating-rate security isbased.残值 Salvage Value The estimated value that an asset will realize upon its sale at the endof its useful life.长城 Chinese Wall A slang term for the division within a brokerage firm that preventsinsider information from being handed out by corporate advisers toinvestment traders.长期债款、融资债务 Funded Debt A long term debt that matures after more than one year.长期债券 Long Bond A bond that matures in more than 10 years. When people refer to"the long bond," this typically is the 30-year U.S. treasury.长期资产 Long Term Assets1. Reported on the balance sheet, it's the value of a company'sproperty, equipment, and other capital assets, lessdepreciation.2. A stock, bond, or other asset that you plan on holding inyour portfolio for a lengthy period of time. 长期债务/总资本比率 Long Term Debt/Capitalization A ratio indicating the financial leverage of a firm. It is calculated by taking a company's long term debt and dividing by the capitalavailable (the sum of long term debt, preferred stock, andstockholders' equity).长期债务 Long Term Debt A ratio indicating the financial leverage of a firm. It is calculated bytaking a company's long term debt and dividing by the capitalavailable (the sum of long term debt, preferred stock, andstockholders' equity).长期负债 Long Term Liabilities Recorded on the balance sheet, a company's liabilities for leases,bond repayments, and other items due in more than one year.偿付比率Solvency Ratio One of many ratios used to gauge a company's ability to meetlong-term obligations.偿付能力、资力Solvency The ability of a corporation to meet both its long-term fixedexpenses and to have adequate money for long-term expansion andgrowth.偿还债务Repayment 1.The payment of a debt obligation prior to its due date.2.The excess payment over a scheduled debt repaymentamount.偿债基金Sinking Fund A means of repaying funds advanced through a bond issue. Theissuer makes periodic payments to a trustee, who retires part of theissue by purchasing the bonds in the open market.场外交易Curb Trading Trading that occurs outside of general market regulations,commonly through computers or telephones after the officialexchanges have closed.场外交易证券OTC A security which is not traded on an exchange, usually due to aninability to meet listing requirements. For such securities,brokers/dealers negotiate directly with one another over computernetworks and by phone. The NASD carefully monitors theiractivities.场外交易证券Over-The-Counter(OTC) A security which is not traded on an exchange, usually due to an inability to meet listing requirements. For such securities, brokers/dealers negotiate directly with one another over computer networks and by phone. The NASD carefully monitors their activities.超额认股权Greenshoe Option An option that allows the underwriting of an IPO to sell additionalshares to the public if the demand is high.超额配股权Overallotment Selling more securities than are available in an IPO.超额认购Oversubscribed When the demand for a new issue of securities (IPO) exceeds thenumber of shares issued.超高市值股票Mega Cap Companies having a market capitalization greater than $200 billion. 超卖Oversold A technical analysis term for a market in which the volume ofselling that has occurred is greater than the fundamentals justify.成本基础Cost Basis The purchase price after commissions or other expenses. Cost basisis used to calculate capital gains or losses when the security iseventually sold.成本协同效益Cost Synergy In the context of mergers, cost synergy is the savings in operatingcosts expected after two companies, who compliment each other'sstrengths, join.承销价差Underwriting Spread The spread between the amount received by underwriters from thepublic offering price and the amount underwriters pay to the issuingcompany for the securities承销团Syndicate A group of bankers, insurers, etcetera, who work together on a largeproject.承销团 Underwriting 1. The process by which investment bankers raise investmentcapital from investors on behalf of corporations andgovernments that are issuing securities (both equity anddebt).2. The process of issuing insurance policies 乘数效应 Multiplier Effect The expansion of a country's money supply that results from thecollective of member banks being able to lend more money thanthey take in.承继人 Heir A person who inherits some or all of the estate of a recentlydeceased person. The legal successor is usually selected becausethey are related to the deceased by a direct bloodline or have beendesignated in a will or by a legal authority.持续经营 Going Concern A term for a company that has the resources needed in order tocontinue to operate. If a company is not a going concern, it meansthe company has gone bankrupt. 持续经营价值Going Concern Value The value of a company's ability to generate earnings from tangible and intangible assets. 持有Hold An analyst recommendation to neither buy nor sell a security. 持有量不足 Underweight A term describing an investment position that does not hold asufficient amount of securities to satisfy the accepted benchmark ofthe portfolio's asset allocation strategy.持有期 Holding Period The time (or expected time) that an asset will be held for.持有期回报/收益率 Holding Period Return/Yield The total return received from holding an asset. Calculated asincome plus price appreciation during a specified time period,divided by the cost of the investment.重置成本 Replacement Cost The price that will have to be paid to replace an existing asset with asimilar asset.出口 Export In reference to international trade, these are goods shipped from onecountry from another.出市代表、场内交易商 Floor Trader An exchange member who executes transactions from the floor of the exchange exclusively for their own account.出售权 Put 1. An option contract giving the owner the right, but not theobligation, to sell a specified amount of an underlyingsecurity at a specified price within a specified time.2. The act of exercising a put option.出售认股权证 Put Warrant A warrant that gives the holder the right to sell the underlying sharefor an agreed price, on or before a specified date.出账、销账 Charge Off 1. A debt that is deemed uncollectable and written off. Alsoknown as a bad debt.2. A one time expense incurred by a company that negativelyaffects earnings.初级市场 Primary Market The market in which investors have the first opportunity to buy anewly issued security.除权、不带新股认股权Ex-RightsThe period when a new purchaser of stock is not entitled to participate in the recently declared rights offering. 除外责任比率 Exclusion Ratio The portion of the return on investments that is income tax exempt.It represents a payback of initial investments rather than capitalgains.除息、不带息 Ex-Dividend The trading of shares when a declared dividend belongs to the seller rather than the buyer.除证、不带认股权证 Ex-WarrantThe trading of shares when a warrant has been declared, but notdistributed. 创业基金 Venture Capital Fund Venture capital funds pool and manage money from investorsseeking private equity stakes in small and medium-size enterpriseswith strong growth potential. 创业基金投资者 Venture Capitalist An investor who provides capital to either start-up ventures orsupport small companies who wish to expand but do not have accessto public funding.创业项目 Venture Generally refers to a risky start-up or enterprise company.创业资本 Venture Capital Money and resources made available to startup firms and smallbusinesses with exceptional growth potential.纯价格 Clean Price The price quoted for a bond excluding accrued interest.次级股票 Secondary Stock A stock that is considered more risky than blue chips because it hasa smaller market capitalization.次级证券 Junior Security A security that ranks below others in regards to claim on assets andincome.从属债务 Subordinated Debt A loan (or security) that ranks below other loans (or securities) withregard to claims on assets or earnings.存款证 CDA savings certificate entitling the bearer to receive interest. A CDbears a maturity date, a specified interest rate, and can be issued inany denomination. CDs are generally issued by commercial banks. 存款证 Certificate Of Deposit (CD) A savings certificate entitling the bearer to receive interest. A CDbears a maturity date, a specified interest rate, and can be issued inany denomination. CDs are generally issued by commercial banks.存款、按金 Deposit 1. A transaction involving a transfer of funds to another partyfor safekeeping.2. A portion of funds that is used as security or collateral forthe delivery of a good. 存托公司 Depository Trust Company (DTC) One of the world's largest securities depositories, it holds in excessof $10 trillion worth of securities in custody. The DTC acts like aclearing house to settle trades in corporate and municipal securities.存托及结算机构 Depository Trust and Clearing Corporation (DTCC) Established in 1999, the DTCC is a holding company consisting of 5clearing corporations and 1 depository, making it the world's largestfinancial services corporation dealing in post trade transactions.存托凭证Depository Receipt A negotiable financial instrument issued by a bank to represents aforeign company's publicly traded securities. The depository receipttrades on a local stock exchange.D中文术语英文术语英文解释大宗交易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 anothershareholder, or commonly the company's management, to vote theholder's shares at the annual meeting.代理问题 Agency Problem When conflicts of interest rise between creditors, shareholders, andmanagement, because of differing goals.贷款 LoanWhen a lender gives money or property to a borrower, and theborrower agrees to return the property or repay the borrowed moneyalong 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 minorityshareholder to join in the sale of a company. The majority ownerdoing the dragging must give the minority share holder the sameprice, terms, and conditions as any other seller. 担保人 Guarantor A person that guarantees to pay for someone else's debt if theydefault 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 tradingstocks, usually 100.单位信托 Unit Trust (UT) An un-incorporated mutual fund structure that allows funds to holdassets and pass through profits to the individual owners, rather thanreinvest profits back into the fund.单一业务 Pure Play A company devoted to one line of business, or a company whosestock price is highly correlated with the fortunes of a specificinvesting theme or strategy.到价 At the MoneyAn option is at-the-money if the strike price of the option equals themarket price of the underlying security.到价 In the Money For a call option, in-the-money is when the option's strike price isbelow the market price of the underlying stock. For a put option,in-the-money is when the strike price is above the market price ofthe underlying stock. 到期日 Expiration Date The day on which an options or futures contract is no longer validand, therefore, ceases to exist.到期日期 Maturity Date The date on which a bond's principal or other liability investment isrepaid to the investor and interest payments stop. 到期收益率 YTMThe rate of return anticipated on a bond if it is held until thematurity date. YTM is considered a long term bond yield expressedas an annual rate.The calculation takes into account the current market price, parvalue, coupon interest rate, and time to maturity. It is also assumedthat all coupons are reinvested at the same rate. Sometimes this isreferred 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 thematurity date. YTM is considered a long term bond yield expressedas an annual rate.The calculation takes into account the current market price, parvalue, coupon interest rate, and time to maturity. It is also assumedthat all coupons are reinvested at the same rate. Sometimes this isreferred to as a bond's "yield" for short.道琼斯工业平均指数 DJIAThe Dow Jones Industrial Average is a price-weighted average of 30significant stocks traded on the New York Stock Exchange and theNasdaq. 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 30significant stocks traded on the New York Stock Exchange and theNasdaq. The DJIA was invented by Charles Dow back in 1896.道琼斯公用事业平均指数 DJUAThe Dow Jones Utility Average is a price-weighted average of 15 utility stocks traded in the United States. The DJUA was startedback 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 averageof 20 transportation stocks traded in the United States. The averagewas 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 averageof 20 transportation stocks traded in the United States. The averagewas started back in 1884.道氏理论 Dow Theory A theory which says the market is in an upward trend if one of itsaverages (industrial or transportation) advances above a previousimportant high, it is accompanied or followed by a similar advance。

高盛财经词典—英汉对照

高盛财经词典—英汉对照A1. accounting (会计)The process of recording, summarizing, and analyzing financial transactions in order to prepare financial statements and reports.会计是记录、汇总和分析财务交易的过程，以便编制财务报表和报告。

2. asset (资产)Anything that has a value and is owned by an individual, company, or organization.任何具有价值并由个人、公司或组织拥有的物品。

3. audit (审计)An independent examination and verification of an organization’s financial records and sta tements by a qualified person or firm.由合格的个人或公司对组织的财务记录和报表进行独立检查和核实。

B1. balance sheet (资产负债表)A financial statement that shows a company’s assets, liabilities, and shareholders’ equity at a specific point in time.资产负债表是一份显示公司在特定时间点的资产、负债和股东权益的财务报表。

2. bear market (熊市)A market condition in which prices of securities are falling or expected to fall, often characterized by widespread pessimism and selling.指证券价格下跌或预计下跌的市场状况，通常以广泛的悲观情绪和抛售行为为特征。

高盛财经词典-英汉对照版

一项产品的买方与卖方独立进行交易，互相之间并无任何关系
Asian Option
亚洲式期权
回报根据相关证券在特定期间的平均价格而定的期权
Ask (Price)
买方叫价
卖方愿意接受的证券价格，也称为要约价格
Assessed Value
评估后价值
一项房地产在税务上的预测价值
Assessor
估价人
决定一项房地产在税务上价值的地方政府官员
1. 为客户进行证券买卖的人士或机构 2. 持有销售保险许可证的人士 3. 代表证券经纪行或发行人向公众出售或尝试出售
证券的证券销售人员
由政府机构发行的债券一项由一名代理人同时代表买方与卖方的交易，也称为撍
卮砣藬("Dual Agency"。债券人、股东及管理人员因目标不同而产生的利益冲突由美国政府支持的企业发行的低风险债务出售或买入期权的行使价格乘以合约金额
总营业额 ‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾ 总资产值评估一个投资组合、一家企业、一项投资或资产负债表项目当时价值的过程一般为一家投资公司代表投资者管理资产的市场价值
将要一项权益或物业转给另一名人士或另一项业务一项期权到价指该期权的行使价格相等于相关证券的市场价值同时买入股票指数期货及相关股份的交易计划，旨在从差价中获利（市场套汇）买方与卖方同时进行竞争性叫价及出价的市场对一家机构财务报表的公正验证及评价，可以是机构内部的程序（由机构员工进行）或外部程序（由外部机构进行）是公司年报的一部分，旨在确证公司财务报告符合适当的通用会计原则
Activity Ratio
活动比率
一项用以衡量一家公司将其资产负债表内账项转为现金或营业额的能力的会计比率

财经词典-汉英对照(doc 136页)

财经词典-汉英对照(doc 136页)高盛财经词典- 汉英对照0-9中文词句English English Definitions144A 条例Rule 144A An SEC rule that modified a two-year holding periodrequirement on privately placed securities bypermitting Qualified Institutional Buyers (QIBs) totrade these positions among themselves.18定律Rule of 18 A rule whereby the sum of the inflation rate and theP/E ratio of the Dow Jones Industrial Average is anindicator of the direction of the stock market. If thetotal is above 18, stocks are supposed to decrease. Ifthe total is under 18, then the stock ma1940年投资公司法InvestmentCompany Act of1940 Created in 1940 through an act of Congress, this piece of legislation clearly defines the responsibilities and limitations placed upon fund companies that offer investment products to the public.72定律Rule of 72 A rule stating that in order to find the number ofyears required to double your money at a giveninterest rate, you divide the compound return into 72.The result is the approximate number of years that itwill take for your investment to double.A-Z中文词句English English DefinitionsAPICS（美国生产及库存控制协议）商业前景指数APICS BusinessOutlook IndexA national manufacturing index that surveys severalmanufacturing firms on a monthly basis. If the indexis above 50 it signals expansion, if it dips below 50 itindicates contraction.CAMELS评级制度CAMELS RatingSystem An international bank-rating system with which bank supervisory authorities rate institutions according to six factors. The six areas examined are represented by the acronym "CAMELS."三划中文词句English English Definitions个人收入Personal Income An individual's total earnings coming from wages,business enterprises, and various investments.个人消费开支PCE Similar to CPI, PCE is a report (actually a part of thepersonal income report) put out by the Bureau ofEconomic Analysis of the Department of Commerce.PCE is a measure of price changes in consumergoods and services. It consists of the actual andimputed expenditures of households, and includesdata pertaining to durables, non-durables, andservices.个人理财Personal Finance Financial planning for individuals. Generally, itinvolves analyzing their current financial position,predicting short-term and long-term needs, andrecommending a financial strategy. This may involveadvice on pensions, school fees, mortgages, lifeinsurance, and investments.子公司、附属公司Subsidiary A company owned by another company that controlsmore than 50% of its voting stock.上市公司Public Company A company that has issued securities through anoffering which are now traded on the open market.上市证券Listed Security Securities that have been accepted for tradingpurposes by a recognized and regulated exchange. 已充分反映实值Fully Valued A stock that has reached a price that accuratelyreflects the strength of the company.已动用资本回报率Return On CapitalEmployed (ROCE) A ratio that indicates the efficiency and profitability of a company's capital investments.Calculated as:Earnings before interest and tax (EBIT) ‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾(Capital employed + Short term borrowings -Intangible assets)已动用资本回报率ROCE A ratio that indicates the efficiency and profitabilityof a company's capital investments.Calculated as:Earnings before interest and tax (EBIT)‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾(Capital employed + Short term borrowings -Intangible assets)已发行股票SharesOutstanding The number of shares that are currently owned by investors. This includes restricted shares (shares owned by the company's officers and insiders) and shares held by the public. Shares that the company has repurchased are not considered outstanding stock.大宗交易Block Trade The sale or purchase of a large quantity of securities.广泛基础加权平均Broad-BasedWeighted Average An anti-dilution provision used for the benefit of existing preferred shareholders when additional offerings are made by the corporation. Thebroad-based weighted average accounts for all equity previously issued and currently undergoing issue.广泛基础指数Broad-Base Index An index designed to reflect the movement of theentire market.下调评级Downgrade A negative change in the rating of a security.子弹式交易Bullet Trade The act of purchasing an "in the money" put optionso that the buyer can capitalize on a bear market byeffectively shorting a stock without waiting for anuptick.已售商品成本COGS An expense that reflects the cost of the product orgood that generates revenue for a company.Sometimes referred to as "Cost of Sales."已售商品成本Cost of GoodsSold (COGS) An expense that reflects the cost of the product or good that generates revenue for a company. Sometimes referred to as "Cost of Sales."下游Downstream Refers to oil and gas operations after the productionphase and through to the point of sale.已解除债务的破产人Discharge inBankruptcy When a bankrupt person or company is legally free and clear of any obligation to repay certain debts.已缴资本Paid-Up Capital The state of a settlement when all paymentobligations for a security has been completed.兀鹫投资者Vulture Capitalist 1. A slang word for a venture capitalist whodeprives an inventor of control over their owninnovations and most of the money they shouldhave made from the invention.2. A venture capitalist who invests infloundering firms in the hopes that they willturn around.兀鹫基金Vulture Fund A fund that buys securities in distressedinvestments, such as high-yield bonds in (or near)default or equities that are in (or near) bankruptcy.四划中文词句English English Definitions五大工业国G-5 Five of the world's leading countries that meetperiodically to achieve a cooperative effort oninternational economic and monetary issues.五大工业国Group of Five(G-5) Five of the world's leading countries that meet periodically to achieve a cooperative effort on international economic and monetary issues.公开上市Going Public The process of selling shares that were formerlyprivately-held to new investors for the first time.开支比率Expense Ratio The percentage of the assets that were spent to run amutual fund. It includes things like management andadvisory fees, travel costs, and 12b-1 fees. Theexpense ratio does not include brokerage costs fortrading the portfolio.公开市场委员会Federal OpenMarket Committee(FOMC) The body that sets the interest rate and credit policies of the Federal Reserve System.公开市场委员会FOMC The body that sets the interest rate and creditpolicies of the Federal Reserve System.日历年Calendar Year The year that begins January 1 and ends December31公开发行价值Public OfferingPrice (POP) The price at which new issues are offered to the public by an underwriter公开说明书Prospectus 1. A formal legal document describing detailsof a corporation. The prospectus is generallycreated for a proposed offering (usually anIPO), but they can still be obtained fromexisting businesses as well. The prospectusincludes company facts that are vitallyimportant to potential investors.2. In this case of mutual funds, a prospectusdescribes the fund's objectives, history,manager background, and financialstatements.公开说明书定稿Final Prospectus A legal document stating the price of a newly issuedsecurity, the delivery date, and other facts that areimportant for investors.公开资产Public Assets that can be traded in a public market, such asthe stock market.The quoted rate on an asset that has virtually no risk. 无风险回报率Risk Free Rate ofReturn无风险资产Risk-Free Asset An asset which has a certain future return.Treasuries (especially T-bills) are considered to berisk-free because they are backed by the U.S.government.公开流通股票Float The total number of shares publicly owned andavailable for trading. The float is calculated bysubtracting restricted shares from outstandingshares.今天最低Today's Low The intra-day low trading price.今天最高Today's High The intra-day high trading price.开支Expense 1. Money spent by a firm to continue itsongoing operations.2. Money spent or costs incurred that aredeductible and reduce your taxable income.公司化、非共同化Demutualization The process of changing corporate structure from amutual fund company to some other form, such as alimited liability or corporation.公司、企业Corporation The most common form of business organization.The total worth of the organization is divided intoshares of stock, each representing a unit ofownership. A corporation is ongoing and the ownersface only limited liability.不可买回Non-Callable Securities that cannot be called by the issuer prior tomaturity.公平交易Arms LengthTransaction When the buyers and sellers of a product act independently of each other and have no relationship to each other.公平价值Fair Value 1. The estimated value of all assets andliabilities of an acquired company used toconsolidate the financial statements of bothcompanies.2. In the futures market, fair value is theequilibrium price for a futures contract. This isequal to the spot price after taking into accountcompounded interest (and dividends lostbecause the investor owns the futures contractrather than the physical stocks) over a certainperiod of time.水平价差Horizontal Spread An options strategy involving the simultaneouspurchase and sale of two options of the same type,having the same strike price, but different expirationdates.无对冲黄金股票指数BUGS Index Short for "basket of un-hedged gold stocks," theBUGS index is the AMEX's index measuring goldcompanies that do not hedge their gold productionbeyond a year and a half.无记名票据Floater A bond, or some other type of debt, whose couponrate changes with market conditions (short terminterest rates).不可抗力Force Majeure Literally translated as "great force," this clause isincluded in contracts to remove liability forunforeseen events restricting participants fromfulfilling obligations.双头垄断Duopoly A situation in which two companies own all or nearlyall of the market for a given type of product orservice.开市前交易Pre-MarketTradingTrading done before the regular market opens.公司债券Debenture An unsecured debt backed only by the creditworthiness of the borrower. There is no collateral,and the agreement is documented by an indenture. 中央银行Central Bank A bank providing services for a country'sgovernment and major commercial banks.公司税Corporate Tax A levy placed on the profit of a firm; different ratesare used for different levels of profits.公平意见Fairness Opinion An opinion developed by qualified analysts oradvisors with the purpose of providing key detailsand factual proof to the decision makers of a mergeror acquisition.牛市Bull Market A market in which prices of a certain group ofsecurities are rising or are expected to rise.毛收入Gross Income 1. For individuals, it is your total personalincome before deductions.2. For companies, it is their revenue minus costof goods sold (also called gross margin).内在价值Intrinsic Value 1. The value of a company or an asset based onan underlying perception of the value.2. For call options, this is the differencebetween the underlying stock's price and thestrike price. For put options, it is the differencebetween the strike price and the underlyingstock's price. In the case of both puts and calls,if the difference between the underlying stock'sprice and the strike price is negative, the valueis given as zero.反向收购Reversed takeover 1. When a larger company is bought out by asmaller company.2. The purchasing of a public company by aprivate company.反收购措施Anti-takeoverMeasure Measures taken on a continual or sporadic basis by a firm's management in order to prevent or deter unwanted takeovers.反收购法规Anti-takeoverStatute A set of state regulations that prevent or deter companies from attempting hostile takeovers. These regulations vary across state lines and typically affect only the companies incorporated within the state.无形之手Invisible Hand Coined by Adam Smith in his 1776 book An Inquiryinto the Nature and Causes of the Wealth of Nations.In his book he states:Essentially Smith says that individuals try tomaximize their own good (and become wealthier),and by doing so, through trade andentrepreneurship, society as a whole will be betteroff. Furthermore, any government intervention in theeconomy isn't needed as the invisible hand wouldbest guide the economy.及时生产Just In Time A production strategy companies employ to increaseefficiency and decrease waste by producing goodsonly as they are ordered or needed.专利权Patent A government license that allows one exclusiverights to a process, design, or new invention.双谷经济衰退Double DipRecession When the gross domestic product (GDP) growth slides back to negative after a quarter or two of brief positive growth. In other words, a recession followed by a short-lived recovery, followed by another recession.分级股票Classified Shares The separation of company equity into more thanone class of common shares, usually called "ClassA" and "Class B."不良贷款Bad Debt A debt which is not collectable and thereforeworthless to the creditor.不良贷款NPL Loans that are in default or close to being in default. 不良贷款Non-PerformingLoanLoans that are in default or close to being in default.无形资产Intangible Asset An asset that is not physical in nature. E.g. goodwill 不良资产Non-PerformingAssetAny asset that is not effectively producing income.天灾债券Act of God Bond A bond issued by an insurance company, linkingprincipal and interest to the company's losses due tonatural disasters.分拆上市Carveout 1. Sometimes known as a partial spinoff, acarve out occurs when a parent company sellsa minority (usually 20% or less) stake in asubsidiary for an IPO or rights offering.2. Where an established brick-and-mortarcompany hooks up with venture investors anda new management team to launch an Internetspinoff.认购不足Undersubscribed When the demand for a new issue of securities (IPO)is less than the number of shares issued. This issometimes referred to as an underbooking.分拆、出售资产Divestiture Refers to the sale of a subsidiary company, alsocalled "spin-off."认股权证Warrant A derivative security that gives the holder the right topurchase securities (usually equity) from the issuerat a specific price within a certain time frame.认股权证比重Warrant Coverage An agreement between a company and itsshareholders whereby the company issues warrantsequal to some percentage of the dollar amount of theshareholder's investment.认股权证溢价Warrant Premium The premium paid for the rights associated with awarrant.分拆收购Unbundling Taking over a large company with several differentlines of business and retaining the core businesswhile selling off the subsidiaries to help fund thetakeover.分析员Analyst A financial professional that has expertise inevaluating investments. They are typically employedby brokerage firms, investment advisors, or mutualfunds. Analysts put together buy, sell, and holdrecommendations on securities. Analysts usuallyspecialize in specific industries or sectors to allowfor comprehensive research.天使投资者Angel Investor A financial backer providing venture capital funds forsmall startups or entrepreneurs.开放性信贷Open End Credit A pre-approved loan that may be used repeatedly upto a certain limit.无抵押贷款Unsecured Loan A bank loan that is issued and supported only by theborrowers creditworthiness, rather than by somesort of collateral.无抵押债权人UnsecuredCreditor A person or institution that lends money to a company or individual without holding collateral on the property for security. This puts the creditor in a higher risk situation开放性基金Open-End Fund A mutual fund that continues to sell shares toinvestors, and will buy back shares when investorswish to sell日经指数Nikkei The leading and most respected index of Japanesestocks.订单积压Backlog The total value of sales orders waiting to be fulfilled. 反垄断法Anti-trust The antitrust laws apply to virtually all industries andto every level of business, including manufacturing,transportation, distribution, and marketing. Theyprohibit a variety of practices that restrain trade.Examples of illegal practices are price-fixingconspiracies, corporate mergers likely to reduce thecompetitive vigor of particular markets, andpredatory acts designed to achieve or maintainmonopoly power.比例税Proportional Tax An income tax that takes the same percentage ofincome from everyone regardless of how much (orlittle) an individual earns.石油输出国组织、欧佩克Organization ofPetroleumExportingCountries (OPEC) An intergovernmental organization dedicated to the stability and prosperity of the petroleum market. OPEC membership is open to any country that is a substantial exporter of oil and shares the ideals of the organization.分拆Demerger A corporate strategy to sell off subsidiaries ordivisions of a company.分拆Spinoff A new, independent company created throughselling or distributing new shares for an existing partof another company.分股Stock Split The division of a company's existing stock into moreshares. In a 2-for-1 split, each stockholder wouldreceive an additional share for each share formerlyheld.以活动为基础的预算案Activity BasedBudgeting Method of budgeting in which activities that incur costs in each function of an organization are established and relationships are defined between activities. This information is then used to decide how much resource should be allocated to each activity.以活动为基础的管理Activity BasedManagement Using an activity-based costing system to improve the operations of an organization.互相争夺市场MarketCannibilization The negative impact a new product has on the sales performance of a company's existing, related products.双重收费Double Dipping For brokerage firms, when a broker putscommissioned products into a fee-based account.The broker makes money from both the client andthe commission.双重征税Double Taxing A tax law that results in the same earnings beingsubjected to taxation twice. A company's income istaxed initially and then the shareholders andinvestors are taxed on the distributions they receivefrom the company.长城Chinese Wall A slang term for the division within a brokerage firmthat prevents insider information from being handedout by corporate advisers to investment traders.风险价值Value at Risk(VAR) A technique for estimating the probability of portfolio losses exceeding some specified price.不能变现Illiquid An asset or security that cannot be converted intocash very quickly (or near prevailing market prices). 升值Appreciation The increase in value of an asset.风险Risk The chance that an investment's actual return will bedifferent than expected. This includes the possibilityof losing some or all of the original investment. It isusually measured using the historical returns oraverage returns for a specific investment.风险资本Risk Capital The money that a person allocates to investments inhigh risk securities风险资本要求Risk Based CapitalRequirement A stated requirement of liquid reserves placed upon banks and institutions that deal in risky ventures.无追索权债务Non-RecourseDebt A loan that is secured by some sort of collateral, usually property. The issuer can seize the collateral if the borrower defaults.无追索权融资Non-RecourseFinance A loan where the lending bank is only entitled to repayment from the profits of the project the loan is funding, not from other assets of the borrower.风险容忍度Risk Tolerance The degree of uncertainty that an investor canhandle in regards to a negative change in the valueof their portfolio.风险调整贴现率Risk AdjustedDiscount Rate In portfolio theory and capital budget analysis, the rate necessary to determine the present value of an uncertain or risky stream of income; it is the risk-free rate (generally the return on short-term U.S. Treasurysecurities）plus a risk premium that is based on an analysis of the risk characteristics of the particular investment or project风险调整回报率Risk AdjustedReturn A measure of how much risk a fund or portfolio assumed to earn its returns. This is usually expressed as a number or a rating.风险调整资本回报率Risk AdjustedReturn on Capital(RAROC) In financial analysis, riskier projects and investments must be evaluated differently from their riskless counterparts. By discounting risky cashflows against less risky cashflows RAROC accounts for changes in the profile of the investment.内部回报率IRR Often used in capital budgeting, it's the interest ratethat makes net present value of all cash flow equalzero.内部回报率Internal Rate ofReturn (IRR) Often used in capital budgeting, it's the interest rate that makes net present value of all cash flow equal zero.内部审计Internal Audit An audit performed by a person (or persons)employed by the firm being audited.专营经纪人Specialist A person on the trading floor of certain exchangeswho holds an inventory of particular stocks. Thespecialist is responsible for managing limit trades,but does not make information on outstanding limitorders available to other traders.反通货膨胀Disinflation A slowing of the rate at which prices increase.Typically, this occurs during a recession as salesdrop and retailers are not able to pass on higherprices to customers.气球型期权Balloon Option An option for which the notional payments increasesignificantly after a set threshold is broken.气球型期限Balloon Maturity 1. A repayment schedule for a bond issuewhere a large number of the bonds come dueat a one time (normally at the final maturitydate).2. A final loan payment that is considerablyhigher than prior payments.内部增长Organic Growth The growth rate of a company, excluding any growthfrom takeovers, acquisitions, or mergers.内部增长率Internal GrowthRate The highest level of growth achievable for a business without obtaining outside financing.中等市值股票Mid Cap Stock Short for "Middle Cap," mid cap refers to stocks witha market capitalization of between $2 billion to $10billion.?贝塔系数Beta (Coefficient) The measure of systematic risk of a security. Beta (orbeta coefficient) is a means of measuring thevolatility of a security or portfolio of securities incomparison with the market as a whole.Beta is calculated using regression analysis. A betaof 1 indicates that the security's price will move withthe market. A beta greater than 1 indicates that thesecurity's price will be more volatile than the market.A beta less than 1 means that it will be less volatilethan the market.计量经济学Econometrics The application of statistical theories to economicones for the purpose of forecasting future trends.中期股息Interim Dividend A dividend payment made before a company's AGMand final financial statements. This declareddividend usually accompanies the company's interimfinancial statements.长期债券Long Bond A bond that matures in more than 10 years. Whenpeople refer to "the long bond," this typically is the30-year U.S. treasury.从属债务Subordinated Debt A loan (or security) that ranks below other loans (orsecurities) with regard to claims on assets orearnings.长期债务/总资本比率Long TermDebt/Capitalization A ratio indicating the financial leverage of a firm. It is calculated by taking a company's long term debt and dividing by the capital available (the sum of long term debt, preferred stock, and stockholders' equity).长期债务Long Term Debt Loans and financial obligations, lasting over oneyear, on which interest is paid.长期资产Long Term Assets 1. Reported on the balance sheet, it's the valueof a company's property, equipment, and othercapital assets, less depreciation.2. A stock, bond, or other asset that you planon holding in your portfolio for a lengthy periodof time.长期债款、融资债务Funded Debt A long term debt that matures after more than oneyear.专属基金Captive Fund A fund that provides investment services solely tothe one firm holding ownership.分期偿还债务Installment Debt Debt issued with the condition of regularly occurringintervals for payment by the debtor, until theprincipal and interest are paid in full.中期票据MTN A note that usually matures in 5-10 years.中期票据Medium Term Note(MTN)A note that usually matures in 5-10 years.中期Medium Term Holding an asset for an intermediate period of time. 内幕人士Insider Any person who has or has access to valuablenonpublic information about a corporation.内幕交易Insider Trading The buying or selling of a security by insiders whopossess material, nonpublic information about thesecurity. The act puts insiders in breach of afiduciary duty or other relationship of trust andconfidence.少数权益Minority Interest A significant, but non-controlling, outside ownershipinterest in a company/subsidiary that is consolidatedwith the parent for financial reporting purposes内幕消息InsiderInformation Material information about a company's activities that has not been disclosed to the public.反摊薄条款Anti-dilutionProvision A provision in an option or a convertible security. It protects an investor from dilution resulting from later issues of stock at a lower price than the investor originally paid.巴黎俱乐部Paris Club A monthly meeting, taking place in Paris, betweenthe creditors of 19 countries for the purpose ofdiscussing debt issues. Among other things, theParis Club addresses the issue of coordinated debtrelief for developing countries that cannot servicetheir debt.五划中文词句English English Definitions永久年金Perpetuity A constant stream of identical cash flows with nomaturity date.永久债券Perpetual Bond A bond with no maturity date. Perpetual bonds arenot redeemable, instead they pay a steady stream ofinterest forever.电子商贸Ecommerce When a person or business uses the Internet as partof their business model.出口Export In reference to international trade, these are goodsshipped from one country from another.以公共福利为目的Pro Bono To work for the good of the public rather than for aprofit or income.可见供应Invisible Supply Stocks of commodity that are available for deliveryupon futures contracts, but whose quantities cannotbe accurately identified.可支配收入DisposableIncome The amount of after-tax income that is available to divide between spending and personal savings.外币效应Foreign CurrencyEffects The extent to which the changes in a foreign currency affects the return on a foreign investment.可互换Fungibility The interchangeability of listed options, futurescontracts, and other instruments dependent uponidentical terms.可互换物品Fungibles Goods, securities, or instruments that are equivalentand, therefore, are interchangeable.平仓Close Position Getting out of a position in a particular stock orsecurity.白皮书White Paper An informational document issued by companiestrying to promote or highlight the significance of aplanned product or service出市代表、场内交易商Floor Trader An exchange member who executes transactionsfrom the floor of the exchange exclusively for theirown account.必付合约Take or Pay A provision, written into a contract, whereby oneparty has the obligation of either taking delivery ofgoods or paying a specified amount.半可变因素Semi-VariableCost 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。

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Anti-takeover Measure
反收购措施
企业管理人员长期或不时采取，防止或延迟被恶意收购的措施
Anti-takeover Statute
反收购法规
旨在防止或延迟恶意收购的一套美国法规。每一州的法规细则有所不同，一般只适用于在州内注册成立的公司
Anti-trust
反垄断法
美国的反垄断法适用于所有行业及所有层面的业务，包括制造、交通、分销及促销。法律禁止多种对交易造成妨碍或限制的行为。非法行为包括联合控制价格、可能减弱个别市场竞争动力的企业合并、意图实现或维持垄断势力的
Agency Bonds Agency Cross
机构债券交叉代理人
由政府机构发行的债券一项由一名代理人同时代表买方与卖方的交易，也称为撍卮砣藬("Dual Agency"。
Agency Problem Agency Securities
代理问题机构证券
债券人、股东及管理人员因目标不同而产生的利益冲突由美国政府支持的企业发行的低风险债务出售或买入期权的行使价格乘以合约金额不当地编制损益表以取悦投资者及提高股价投资组合经理尝试争取最高的回报。进取的投资者把较高比重的资产投入股票，比重较其他风险较低的债务证券要高
Asset Play
资产隙
估值不当的股票，其合并资产价值高于总市值，以而具有吸引力
Asset Redeployment Asset Swap
资产重新配置资产互换
将公司的资产重新进行策略分配，以提高盈利能力与单纯掉期结构相似，主要分别在于潜在的掉期合约。互换的是固定及浮动投资，而不是一般的固定或浮动贷款利率
Allotment
配股
首次公开上市中向各承销机构分配，容许其出售的股份。其余股份会分给其他取得上市股份出售权的证券公司
Allowance For Doubtful Accounts American Depository
呆账准备金
公司对可能不能收到的应收账款的预测，这项数据将纪录在公司的资产负债表上
Angel Investor Annualize
天使投资者年度化
向小型初始企业或创业者提供创业资金的财务投资者 1. 2. 将不足一年的回报率转为全年回报率将不足一年的税务期转为每年一度
Annual General Meeting 年度股东大会 (AGM) Annual Report 年报
必须每年举行一次的股东会议，指在向股东通报公司的决策与工作一家公司每年一度的财务营运报告。年报的内容包括资产负债表、损益表、审计师报告以及公司业务的概要
Aggregate Exercise Price 总行使价格 Aggressive Accounting Aggressive Investment Strategy 激进会计法进取投资策略
Alan Greenspan
格林斯潘
格林斯潘博士是美国联邦储备局监理会的主席。他将于 2004 年 6 月 20 日完成第四个四年任期。格林斯潘博士也联邦储备局主要货币政策制定组织联邦公开市场委员会的主席
掠夺性行为 Any and All Bid 所有出价投标买入在特定价格出售的所有股份
APICS Business Outlook APICS（美国生产及美国全国性制造业指数，每月对多家制造业企业进行调查。 Index 库存控制协议）商业若指数高于 50，表示行业正在扩展，若低于 50，则表示行前景指数 Appraisal Appreciation Arbitrage 价值评估升值套汇业正在萎缩对一项物业或业务价值的意见资产价值上升同时买入及卖出证券，意图从差价中获利，在一般于不同的交易所或市场进行买卖 Arbitrage Bond 套汇债券市政府在市政府现有高评级证券买回日期前发行的低评级债务证券 Arbitrage Pricing Theory 套汇定价理论 (APT) Arbitrage Trading Program (ATP) Arbitration 仲裁套汇交易理论是资本资产定价模式以外的另一个选择，主要分别在于其假设及对资产相关风险因素的诠释同时买入股票指数期货及相关股份的交易计划，旨在从差价中获利（市场套汇）对争议的非正式听证，其间一组由公正委员会选出的人士（一般为三名）对争议作出裁判。在做出判决会，不设进一步上诉的机制 Arms Length Transaction 公平交易一项产品的买方与卖方独立进行交易，互相之间并无任何关系 Asian Option Ask (Price) Assessed Value Assessor Asset 亚洲式期权买方叫价评估后价值估价人资产回报根据相关证券在特定期间的平均价格而定的期权卖方愿意接受的证券价格，也称为要约价格一项房地产在税务上的预测价值决定一项房地产在税务上价值的地方政府官员个人或一家企业拥有、具有经济价值的任何物品。资产也是资产负债表上的一个重要项目，显示公司拥有的价值企业买入资产以提高公司的价值或促进业务 Asset-Backed Security Asset Allocation 资产抵押证券资产分配由资产相关票据或应收账款，而不是房地产为担保的证券将一个投资组合分为不同资产种类的过程，主要资产种类包括债券、股票或现金。资产分配的目的在于通过分散投资减低风险 Asset Allocation Fund 资产分配基金一种将投资资产分为债券、股票及其他证券的共同基金，目的在于回报最大化及风险最小化 Asset Coverage Ratio 资产偿付比率评估一家企业在扣除所有负债后以资产偿付债务的能力，计算方法为：（总资产账面值-无形资产（流动负债-短期债务）） ‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾ ‾‾‾‾ 未偿还债务总额
Act of God Bond
天灾债券
保险公司发行的债券，旨在将债券的本金及利息与天然灾害造成的公司损失联系起来
Active Bond Crowd Active Income
活跃债券投资者活动收入
在纽约股票交易所内买卖活跃的定息证券来自提供服务所得的收入，包括工资、薪酬、奖金、佣金，以及来自实际参与业务的收入
高盛财经词典 - 英汉对照 A
English Terms 中文翻译详情解释/例子任何基于会计或税务原因促使一项资产在较早期以较大金额折旧的折旧原则 Accident and Health Benefits 意外与健康福利为员工提供有关疾病、意外受伤或意外死亡的福利。这些福利包括支付医院及医疗开支以及有关时期的收入。 Accelerated Depreciation 加快折旧
Asset-Liability Management Asset Management
资产负债管理
企业协调资产及负债管理的措施，以赚取适当的回报
资产管理
1. 2.
企业管理其财务资产，以实现最高的回报在一家金融机构开设户口，以享有支票服务、信用卡、记账卡、保证金贷款、自动将现金结余投入货币市场基金以及证券经纪服务
American Depository Share (ADS) American Option American Stock Exchange Amortization
美国存托股份
根据存托协议发行的股份，代表发行企业在本土上市的股票
美式期权美国股票交易所
可在有效期间随时行使的期权美国第三大股票交易所，位于纽约，处理美国交易证券总额的 10%
Asset Turnover
资产周转率
每一单位金额资产产生的营业额。计算方法为：总营业额 ‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾ 总资产值
Asset Valuation
资产估值
评估一个投资组合、一家企业、一项投资或资产负债表项目当时价值的过程
Assets Under Management Assignment At the Money
Accounts Receivable (AR) Accretive Acquisition
应收账款
客户应付的金额。拥有应收账款指公司已经出售产品或服务但仍未收取款项
具增值作用的收购项能提高进行收购公司每股盈利的收购项目目
Acid Test
酸性测试比率
一项严谨的测试，用以衡量一家公司是否拥有足够的短期资产，在无需出售库存的情况下解决其短期负债。计算方法： (现金 + 应收账款 +短期投资) ‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾ 流动负债
管理资产额
一般为一家投资公司代表投资者管理资产的市场价值
Annuity Annuity Due Anti-dilution Provision
年金即付年金反摊薄条款
在特定期间定期定额支付的款项需要即时支付，而不是在期末支付的年金期权或可转换证券的一项条款，用以保障投资者，不会由于未来公司以较低价格（低于有关投资者支付的价格）发行股份而被摊薄
美国存托凭证
一份美国存托凭证代表美国以外国家一家企业的若干股份。
Receipt (ADR)
美国存托凭证在美国市场进行买卖，交易程序与普通美国股票相同。美国存托凭证由美国银行发行，每份包含美国以外国家一家企业交由国外托管人托管的若干股份。该企业必须向代为发行的银行提供财务资料。美国存托凭证不能除相关企业股票的货币及经济风险。美国存托凭证可在纽约股票交易所、美国股票交易所或纳斯达克交易所挂牌上市
Active Investing
积极投资
包含持续买卖行为的投资策略。主动投资者买入投资，并密切注意其走势，以期把握盈利机会
Active Management
积极管理
寻求投资回报高于既定基准的投资策略

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