专业词汇翻译:高盛财经词典 - 汉英对照 L

中文术语英文术语英文解释垃圾债券、高风险债券Junk BondA bond purchased for speculative purposes. They are usually rated BB or lower, and they have a higher default risk. 来自营运现金流Funds From Operations (FFO)Used by real estate investment trusts (REITS) to define the cash flow from their operations. It is calculated by adding depreciation and amortization expenses to earnings, and sometimes quoted on a per share basis. 蓝筹Blue ChipA security from a well-established, financially-sound, and stable company that has demonstrated its ability to pay dividends in both good and bad times. 劳工密集Labor IntensiveA process or industry that requires large amounts of human effort to produce goods. 乐观投资者BullAn investor who thinks the market, a specific security, or an industry will rise. 累积股息Cumulative DividendA limitation placed upon corporations ensuring the payment of preferred dividends before making distributions to common shareholders. 累计投票Cumulative VotingThe procedure of voting for a company's directors, where each shareholder is entitled one vote per share times the number of directors to be elected. This is sometimes known as proportional voting. 累进税Progressive TaxA tax that takes a larger percentage from the income of high-income people than it does from low-income people. 累退税Regressive TaxA tax that takes a larger percentage from the income of low-income people than the income of high-income people. 理论性道琼斯指数Theoretical Dow Jones IndexA method of calculating a Dow Jones index (most often the DJIA) that assumes all index components hit their high or low at the same time during the day. 利率Interest RateThe monthly effective rate paid (or received if you are a creditor) on borrowed money. Expressed as a percentage of the sum borrowed. 利率变动风险防范ImmunizationA strategy that matches the durations of assets and liabilities, thereby minimizing the impact of interest rates on the net worth. 利率掉期Interest Rate SwapA deal between banks or companies where borrowers switch floating-rate loans for fixed rate loans in another country. These can be either the same or different currencies. 利率平价理论Interest Rate ParityA theory that the interest rate differential between two countries is equal to the differential between the forward exchange rate and the spot exchange rate. 利润ProfitThe same as net income, it is the company's total earnings less expenses. 利润分成计划Profit Sharing PlanA plan wherein the employees get a share in the profits of the company. The company decides what portion of the profit will be shared. Each employee then receives, into an account, a percentage of those profits based on their earnings. There are typically restrictions as to when and how you can withdraw these funds without penalties. 利润率Profit MarginAn indicator of profitability, It is calculated as net earnings after taxes divided by revenues. Profit margin is usually displayed as a percentage. 利润预警Profit WarningWhen a company advises its earnings won't meet analyst expectations. 利润中心Profit CenterThe branch or division of a company that creates profits individually and separately from the main organization. 利息、权益InterestThe charge for the privilege of borrowing money, typically expressed as an annual percentage rate. The amount of ownership a stockholder has in a company, usually expressed as a percentage. 连带、共同Jointly and SeverallyA legal term describing a partnership wherein individual decisions are binding against all parties involved and thus undivided. A term used in underwriting syndicates to refer to the distinct responsibility of individual companies to sell a certain portion of unsold new issue. 连带违约Cross DefaultA provisions in a bond indenture or loan agreement that puts the borrower in default if the borrower defaults on another obligation. 联邦储备模型Fed ModelA model thought to be used by the Federal Reserve that hypothesizes a relationship between long-term treasury notes and the market return of equities. 联邦储备体系Federal Reserve System (the Fed)The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. 联邦储备委员会Federal Reserve Board (FRB)The governing body of the Federal Reserve System. The seven members of the Board of Governors are appointed by the president, subject to confirmation by the Senate. 联邦储备银行Federal Reserve BankThe banks that carry out Fed operations, including controlling the money supply and regulating member banks. There are 12 District Feds, headquartered in Boston, New York, Philadelphia, Cleveland, St. Louis, San Francisco, Richmond, Atlanta, Chicago, Minneapolis, Kansas City, and Dallas. 联邦基金Federal FundsFunds deposited to regional Federal Reserve Banks by commercial banks, including funds in excess of reserve requirements. 联邦基金利率Federal Funds RateThe interest rate at which a depository institution lends immediately available funds (balances at the Federal Reserve) to another depository institution overnight. 联储局FedThe governing body of the Federal Reserve System. The seven members of the Board of Governors are appointed by the president, subject to confirmation by the Senate. 联储局The FedThe governing body of the Federal Reserve System. The seven members of the Board of Governors are appointed by the president, subject to confirmation by the Senate. 联合账户Joint AccountA brokerage or bank account that is owned together (jointly) by two or more people. 联营公司Affiliated CompaniesA situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. 廉价急售Distressed SaleAn urgent sale of assets because of negative conditions. [廉价]倾销DumpingIn international trade, this occurs when one country exports a significant amount of goods to another country at prices much lower than in the domestic market. A slang term for selling a stock with little regard for price. 两地上市Dual ListingThe listing of a company's shares on more than one stock exchange. 零和游戏Zero-Sum GameA situation in which one participant's gains result only from another participant's equivalent losses. The net change is always 0. 零期限货币Money Zero Maturity (MZM)A measure of the liquid money supply within an economy. MZM represents all money in M2 less the time deposits, plus all money market funds. 零售投资者Retail InvestorIndividual investors who buy and sell securities for their personal account, and not for another company or organization. 零售银行Retail BankingRetail banking is typical mass-market banking where individual customers use local branches of larger commercial banks. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth. 零息票可转换证券Zero-Coupon ConvertibleA zero-coupon bond issued by a corporation, it can be converted into that corporation's common stock at a certain price. 零息票债券Zero-Coupon BondA corporate or municipal debt security traded at a deep discount from face value. It is traded at a deep discount because the bond pays no interest. The profit is realized when the bond is redeemed at maturity for its full face value. It may be issued at a discount, or it may be stripped of its coupons by a bank and then repackaged as a zero coupon bond. 零星股、散股Odd LotAn amount of a security that is less than the normal unit of trading for that particular security. 流动比率Working RatioA ratio used to measure a company's ability to recover operating costs from annual revenue. This ratio is calculated by taking the company's total annual expenses (excluding depreciation and debt-related expenses) and dividing by the annual gross income 流动比率Current RatioIndicator of company's ability to pay short-term obligations; calculated by dividing current assets by current liabilities. 流动负债Current LiabilitiesUsually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. 流动性偏好理论Liquidity Preference TheoryThe hypothesis that forward rates offer a premium over expected future spot rates. 流动资产Current AssetsAppearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. 流通风险Liquidity RiskThe risk stemming from the lack of marketability of an investment that cannot be bought or sold quickly enough to prevent or minimize a loss. 流通性、变现能力LiquidityThe degree to which an asset or security can be bought or sold in the market without affecting the asset's price. Liquidity is characterized by a high level of trading activity. The ability to convert an asset to cash quickly. 流通资产净值Net Liquid AssetsA company's liquid financial assets minus its current liabilities. 龙债券Dragon BondA bond that is issued in Asia, but the denomination of the bond is in U.S. dollars. 垄断、专利Monopoly A situation in which a single company owns all or nearly all of the market for a given type of product or service.

For a strict academic definition, a monopoly is a market containing a single firm. 路演Road ShowA presentation by an issuer of securities to potential buyers. It is intended to create interest in the securities. 伦敦银行同业拆放利率LIBORThis is the rate of interest at which banks borrow funds, in marketable size, from other banks in the London interbank market. 伦敦银行同业拆放利率London Interbank Offer Rate (LIBOR)This is the rate of interest at which banks borrow funds, in marketable size, from other banks in the London interbank market.