专业词汇翻译:高盛财经词典 - 汉英对照 T

中文术语英文术语英文解释tombstonetombstonea situation in which one participant's gains result only from another participant's equivalent losses. the net change is always 0.摊薄后每股盈利diluted earnings per sharethe earnings per share (eps) if all convertible securities were exercised. 摊薄、减损dilutiona reduction in earnings per share of common stock. dilution occurs through the issuance of additional shares of common stock or the conversion of convertible securities. 摊销amortizationthe paying off of debt in regular installments over a period of time.

the deduction of capital expenses over a specific period of time. similar to depreciation, it is a method of measuring the "consumption" of the value of long-term assets like equipment or buildings. 弹性elasticitya measure of sensitivity of one variable to another. more specifically, the degree to which consumers respond to price changes.

% change in quantity

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% change in price

套汇arbitragethe simultaneous purchase and selling of a security in order to profit from a differential in the price. this usually takes place on different exchanges or marketplaces.?套汇定价理论arbitrage pricing theory (apt)an alternative to the capm, apt differs in its assumptions and explanation of risk factors associated with the risk of an asset. 套汇交易理论arbitrage trading program (atp)a program used to simultaneously place orders for stock index futures and the underlying stocks. the atp attempts to exploit price variations (market arbitrage). 套汇交易理论atpa program used to simultaneously place orders for stock index futures and the underlying stocks. the atp attempts to exploit price variations (market arbitrage). 套汇债券arbitrage bonda lower-rate debt security issued by a municipality prior to the call date of the municipality's existing higher-rate security. 套现、货币化monetizeto convert into money. to convert from securities into currency that can be used to purchase goods and services. 特殊风险specific riskrisk that affects a very small number of assets. this is sometimes referred to as "unsystematic risk." 特殊功能公司spvalso referred to as a "bankruptcy-remote entity" whose operations are limited to the acquisition and financing of specific assets. the spv is usually a subsidiary company with an asset/liability structure and legal status that makes its obligations secure even if the parent company goes bankrupt. a subsidiary corporation designed to serve as a counterparty for swaps and other credit sensitive derivative instruments. also called a "derivatives product company." 特殊功能公司special purpose vehiclealso referred to as a "bankruptcy-remote entity" whose operations are limited to the acquisition and financing of specific assets. the spv is usually a subsidiary company with an asset/liability structure and legal status that makes its obligations secure even if the parent company goes bankrupt. a subsidiary corporation designed to serve as a counterparty for swaps and other credit sensitive derivative instruments. also called a "derivatives product company." 特殊项目exceptional itemcharges incurred that must be noted upon a company's balance sheet according to gaap principles. even though these are considered to be a part of ordinary business charges, due to their sheer size or frequency, they must be accordingly disclosed. 特许金融分析师cfaa professional designation given by cfa institute (changed its name from aimr (association for investment management and research) in may 2004) that measures the competence and integrity of investment professionals. candidates are required to pass three levels of exams covering areas such as ethical & professional standards, investment tools, asset valuation and portfolio management.特许金融分析师chartered financial analyst (cfa)a professional designation given by cfa institute (changed its name from aimr (association for investment management and research) in may 2004) that measures the competence and integrity of investment professionals. candidates are required to pass three levels of exams covering areas such as ethical & professional standards, investment tools, asset valuation and portfolio management.特许协议concession agreementa right granted by a government to a corporation. it specifies rules under which the company can operate locally. 提高平均价格average upthe process of buying additional shares in a company at higher prices than you originally purchased. this brings the average price you've paid for all your shares up. 天使投资者angel investora financial backer providing venture capital funds for small startups or entrepreneurs. 天灾债券act of god bonda bond issued by an insurance company, linking principal and interest to the company's losses due to natural disasters. 条例aregulation aan sec regulation that governs offerings of $5,000,000 or less, which qualify for simplified registration (an exemption). 条例dregulation dan sec regulation that governs private placement exemption when there is no investment banker involved. 条例fdregulation fd (reg fd)a rule passed by the securities and exchange commission in an effort to prevent selective disclosure by public companies to market professionals and certain shareholders.

the reg fd rule reads as follows:

"whenever an issuer, or any person acting on its behalf, discloses any material nonpublic information regarding that issuer or its securities to [certain enumerated persons], the issuer shall make public disclosure of that information... simultaneously, in the case of an intentional disclosure; and... promptly, in the case of a non-intentional disclosure." 条例gregulation gthe federal reserve board regulation that governs the extension of credit for securities transactions by commercial lenders and non-financial corporations. 条例mregulation man irs regulation that allows regulated investment companies to pass taxes from capital gains, dividends, and interest distributions onto individual investors. 条例qregulation qa federal reserve board regulation that limits the interest rate banks can pay on savings deposits. 条例tregulation tthe federal reserve board regulation that governs customer cash accounts and the amount of credit that brokerage firms and dealers may extend to customers for the purchase of securities. 条款书term sheeta non-binding agreement setting forth the basic terms and conditions under which an investment will be made. 条例uregulation uthe federal reserve board regulation that governs loans by banks for the purchase of securities. 贴现窗discount windowthe location at the federal reserve where financial institutions go to borrow money at the discount rate. 贴现率、折让率discount ratethe interest rate that an eligible depository institution is charged to borrow short term funds directly from a federal reserve bank. the interest rate used in determining the present value of future cash flows. 贴现票据、折扣票据discount notean unsecured corporate debt that is issued at a discount and matures at par. it is similar to a zero coupon bond or t-bill. discount notes give institutional and retail investors convenient choices with respect to the investment size and maturity date for a short-term investment. 贴现现金流discounted cash flow (dcf)a method used to estimate the attractiveness of an investment opportunity. 贴现债券、折扣债券discount bonda bond that is valued at less than its face amount. 通货萎缩deflation the rate at which the general level of prices for goods and services is falling. the opposite of inflation. 通货复涨、通货在膨胀reflation an economic policy whereby a government uses fiscal or monetary stimulus in order to expand a country's output. 通用会计制度gaapthe common set of accounting principles, standards, and procedures. gaap is a combination of authoritative standards (set by policy boards) and the accepted ways of doing accounting. 通用会计制度generally accepted accounting principles (gaap)the common set of accounting principles, standards, and procedures. gaap is a combination of authoritative standards (set by policy boards) and the accepted ways of doing accounting. 同级诉讼class actionan action where an individual represents a group in a court claim. the judgment from the suit is for all the members of the group (class). 投标、交换媒介tenderto accept a formal offer, such as a takeover bid or tender offer. means of settlement in a financial transaction. a bid to buy treasury bills. notice from a futures contract seller to offer money or goods for settlement of a futures contract. 投机speculationthe process of selecting investments with higher risk in order to profit from an anticipated price movement. 投票权voting rightthe right of a stockholder to vote on matters of corporate policy making as well as on who will compose the board of directors. 投票股票voting sharesshares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. 投票信托voting trusta trust legally created in order to combine the voting power of shareholders through the transference of legal title and voting rights to a designated trustee for a set duration. 投票信托协议voting trust agreementa contractual agreement detailing the specifics of the voting trust, including the name of its trustee, the effective timeframe, and the nature of its formation. 投资investingthe act of committing money or capital to an endeavor (a business, project, real estate, etc.) with the expectation of obtaining an additional income or profit. 投资investment an asset or item with value that is purchased for income or capital appreciation. 投资持有量positionthe amount of a security either owned (long position) or borrowed (short position) by an individual or by a dealer. 投资的现金流回报cash flow return on investment (cfroi)a valuation model that assumes the stock market sets prices based on cash flow, not on corporate performance and earnings.

cash flow

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market value of capital employed

投资等级investment gradein the case of a stock, a firm that has a strong balance sheet, considerable capitalization, and is recognized as a leader in its industry. in the case of fixed income, a bond with a rating of bbb or higher. 投资顾问investment advisoran advisor, registered with the securities and exchange commission, who manages the investments of others. 投资环境investment climatethe general economic conditions affecting the financial markets. 投资回报率roithe profit or loss resulting from an investment transaction, usually expressed as an annual percentage return. 投资回报率return on investment (roi) the profit or loss resulting from an investment transaction, usually expressed as an annual percentage return. 投资回收期payback periodthe length of time required to recover the cost of an investment.

calculated as:

cost of project

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annual cash inflows

all other things being equal, the better investment is the one with the shorter payback period.

投资媒体investment vehiclein general, any method by which to invest. 投资情绪指标sentiment indicatora general term used to describe indicators that gauge investor attitudes towards the market. 投资缩减disinvestmentrefers to the sale or liquidation of an asset or subsidiary of an organization or government. also known as divestiture. a reduction in capital expenditure, or when a company decides to not replace depleted capital goods. 投资性房地产investment real estatereal estate that generates income. 投资银行ib (investment bank)a financial intermediary that performs a variety of services. this includes underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating mergers and other corporate reorganizations, and also acting as a broker for institutional clients. 投资银行investment banka financial intermediary that performs a variety of services. this includes underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating mergers and other corporate reorganizations, and also acting as a broker for institutional clients. 投资银行家investment bankera person representing a financial institution that is in the business of raising capital for corporations and municipalities. 投资者关系部investor relationsa department, present in most medium to large public companies, that provides investors with an accurate account of the affairs of the company. this helps investors to make informed buy or sell decisions. 投资者关系部ira department, present in most medium to large public companies, that provides investors with an accurate account of the affairs of the company. this helps investors to make informed buy or sell decisions. 投资资金回报率roic a calculation used to determine the quality of a company. the general definition for roic is as follows:

net income - dividends

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total capital

投资资金回报率return on investment capital (roic)a calculation used to determine the quality of a company. the general definition for roic is as follows:

net income - dividends

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total capital

投资组合保险portfolio insurancea method of hedging a portfolio of stocks against the market risk by short selling stock index futures. 投资组合管理portfolio managementthe art and science of making decisions about: investment mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk vs. performance. 投资组合经理portfolio managerthe person responsible for the investment of a mutual fund's assets, implementing its investment strategy, and managing the day-to-day portfolio trading. 投资组合收入portfolio incomeincome from investments, including dividends, interest, royalties, and capital gains. 透支overdraftan instant extension of credit from a lending institution. 退出投资策略exit strategythe method that a venture capitalist or business owner intends to use to get out of an investment that he/she has made. 拖欠债务delinquenta term describing the failure to meet required obligations according to schedule.