国际金融翻译.doc

一、 翻译第一单元：MNC 跨国公司 Multinational Corporation 跨国公司Parent (firm) 母公司 headquarter 总部Subsidiary 子公司 subsidy 补助Host government东道国政府Shareholder 股东 Stockholder股东Bondholder 债券持有人 domestic firm国内企业Agency problem 代理问题Agency cost 代理成本Consolidation 综合Merger 合并 Acquisition 收购M&A 并购Hostile takeover 恶意收购Friendly merger 善意收购Mutual fund 共同基金Pension fund 养老基金Comparative advantage 比较优势Imperfect market theory 不完全市场理论Product of cycle theory 产品生命周期理论Licensing 许可经营Franchising 特许代理Copyright 版权 Patent 专利 Registered trademark 注册商标Joint venture 合资企业FDI Foreign Direct Investment 外国直接投资DFI 钻石Exposure 曝光 risk 风险Market share 市场份额Time zone 时区Inventory 存货Institutional investor 机构投资Individual investor 个人投资第二单元：Balance of payment 国际收支Current account 活期账户（经常项目）Capital account 资本账户Balance of trade 贸易平衡Trade surplus 贸易顺差Trade deficit 贸易逆差，贸易赤字Interest 利息 Dividend 股利Security 证券 Stock 股票 share 股份 Bond 债券Government security 政府债券Treasury bill T-bill 短期国库券Treasury note T-note 国债Treasury bond T-bond 国债Cash outflow 现金流出Cash inflow 现金流入Portfolio investment 证券投资Indirect investment 间接投资Dumping 倾销Tax break 税收减免Outsourcing of service 服务外包Tariff custom duty 关税Quota配额Dollar-denominated security 以美元计价的债券Price-elastic 价格弹性Intracompany trade 公司内部贸易J-curve effect J曲线效应Withdraw the deposits 取款IMF International Monetary Fund 国际货币基金组织Lender of last resort 最后贷款人SDRs Special Drawing Rights 特别提款权Monopoly 垄断World bank 世界银行IBRD 国际复兴开发银行International Bank for Reconstruction and DevelopmentWTO 世界贸易组织IFC International Financial Corporation 国际金融公司IDA International Development Association国际开发协会BIS Bank for International Settlement 国际清算银行Import export 进口大于出口D S Foreign currency appreciate 外币升值Domestic currency depreciate 本币贬值第三单元：Fixed exchange rate system 固定汇率制度Floating exchange rate system 浮动汇率制度Appreciate 货币升值 Depreciate 货币贬值Revalue 法定升值 Devalue 法定贬值Nominal interest rate 名义利率Real interest rate 实际利率Fisher Effect 费舍效应International diversification 国际多元化Creditor 贷款人，债权人Borrower 借款人Convert euro into pound 欧元兑换英镑Exchange yen for U.S. dollar 美元兑换日元Great Depression 大萧条Gold standard 金本位制Bretton Woods System 布雷顿森林体系Spot market 即期市场Spot exchange rate 即期汇率Security firm 证券公司Interbank market 银行同业市场Broker 经纪人，中间人Liquidity 流动性Forward exchange market 远期外汇市场Forward exchange rate 远期汇率Hedge 对冲，保值Speculator 投机者Bid rate 买入价 Ask rate 卖出价Bid-ask spread价差Direct quotation 直接标价法Indirect quotation 间接标价法Cross exchange rate 交叉汇率Currency future contract 货币期货合约Currency call option 买入期权Currency put option 卖出期权Strike price exercise price 执行价格Eurodollar 欧洲美元Eurocurrency 欧洲货币OPEC Organization of Petroleum Exporting Countries国际石油出口国Petrodollar 石油美元LIBOR London Interbank Offer Rate伦敦银行同业拆借利率NIBOR 纽约银行同业拆借利率HIBOR 香港银行同业拆借利率SIBOR 新加坡银行同业拆借利率Syndicate 辛迪加贷款The lead bank 牵头银行Foreign bond 外国债券Parallel bond 并行债券Samurai bond 武士债券Bulldog bond 猛犬债券Yankee bond 扬基债券Panda bond 熊猫债券Eurobond 欧洲债券List 上市IPO Initial Public Offering首次公开放行Debt financing 债务性融资Equity financing 股权性融资Retail transaction 零售交易Wholesale transaction 批发交易Opportunity cost 机会成本第四单元：Equilibrium exchange rate 均衡利率Macro variable 宏观变量Micro variable 微观变量Emerging market 新兴市场Institutional investor 机构投资者Yield 收入，收益第五单元：Forward 远期合约 forward rate 远期汇率Non-deliverable forward contract 不交割远期合约Swap 掉期Brazilian real 巴西雷亚尔Norwegian krone 挪威克朗South African rand南非兰特CzecH koruna 捷克克朗Polish zloty波兰兹罗提Hungarian forint匈牙利福林Initial margin 初始保证金Variation margin 变动保证金Production level 生产规模Call option 买入期权（看涨期权）Put option 卖出期权Exercise price 协定价格Strike price 执行价格Chicago Mercantile Exchange 芝加哥商品交易所Chicago Board Options Exchange 芝加哥期权交易所Security and Exchange Commission 美国证券交易委员会Collateral 抵押Open position 敞开头寸Long position 多头 Short position 空头Bid 招标，投标 Break-even point盈亏相抵点第六单元：Freely floating 无管制浮动Clean float 自由浮动汇率制度Managed floating Dirty float 管理浮动Pegged exchange rate system 盯住汇率制度Currency board 货币局制度Dollarization 美元化Exchange rate target zone 汇率目标区General Motor (GM) 通用汽车Dollar-denominated goods 美元计价商品Finished goods 滞成品，产成品A stagnant economy 滞涨经济A recession 萧条Aggregate demand 总需求Aggregate supply 总供给European Currency Unit (ECU) 欧洲货币单位A tight monetary policy 紧缩的货币政策An expansionary monetary policy 扩张的货币政策A stimulative monetary policy 刺激性的货币政策An easy monetary policy 简单的货币政策Fiscal policy 财政政策Budget deficit 预算赤字The stock price plummets 股票价格骤跌Withdraw the investment 撤资Default on the debt 债务违约Adverse effect 不利影响Favorable effect 有利影响Government outlay 政府支出Stimulate the economy 刺激经济增长Risk premium 风险溢价Credit risk 信用风险European Union 欧盟The euro zone 欧元区A consolidated monetary policy 统一的货币政策A common monetary policy 共同的货币政策European Central Bank (ECB) 欧洲中央银行The Federal Resere System (the Fed) 美联储Money supply 货币供给Business cycle 经济中心Flooding the market with dollars 美元充斥市场Direct intervention 直接干预Indirect intervention 间接干预Plaza Accord 广场协议Industrialized country 工业化国家Sterilized intervention 冲销式干预Nonsterilized intervention 非冲销式干预Louvre Accord 卢浮宫协议Manipulate exchange rate 操纵汇率第七单元：Interest rate parity IRP 利率平价Arbitrage 套汇 Arbitrager 套利International arbitrage 国际套汇Interest arbitrage 套利Commodity arbitrage 商品套利Security arbitrage 安全套利Locational arbitrage 两角套汇Triangular arbitrage 三角套汇covered Interest arbitrage 抵补套利Uncovered interest arbitrage 无担保套利Risk-free profit riskless profit 无风险利润Discrepancy 差异Shopping around Deposit interest rate 存款利率Loan interest rate 贷款利率Malaysian ringgit 马来西亚林吉特Exchange dollars for pounds 英镑兑换美元Purchase pounds with dollars 美元购买英镑Convert dollars to pounds 英镑兑换美元The return on the deposit 关于存款的回报第八单元：PPP Purchasing Power Parity 购买力平价理论Absolute form of PPP 绝对购买力平价理论Law of one price 一价定律Relative form of PPP相对购买力平价理论A basket of products 一篮子商品International Fisher effect IFE 国际费舍效应二、简答第一章International Business: Theories：1.Theory of Comparative Advantage2、Imperfect Markets Theory3、Product Cycle Theory有哪些国际商务理论：比较优势理论不完全市场理论产品周期理论International Business Methods：（1）International trade （2）Licensing（3）Franchising（4）Joint venture （5）Acquisitions of existing operations 6 Establishing new foreign subsidiaries有哪些国际商业法国际贸易许可特许经营合资企业收购现有业务建立新的外国子公司第二章International Trade Flow Factors （1）Inflation（2）National Income（3）Government Restrictions（4）Exchange Rates影响国际贸易流通的因素通货膨胀国民收入政府限制汇率第四章Factors that Influence Exchange Rates影响极其汇率的因素e=percentage change in the spot rate在即期汇率变化的百分比D INF=change in the relative inflation rate相对通货膨胀率D INT=change in the relative interest rate相对利率D INC=change in the relative income level相对收入水平D GC=change in government controls政府管制D EXP=change in expectations of future exchange rates对未来汇率的预期三、课后习题P113，8、9、138. (1)the large amount of imports and lack of exports place downword pressure on Ruble. (2)High inflation also place downword pressure on Ruble.9. (1)A relative decline in economic growth will reduce Asia demand for U.S. products, which will place upward pressure on Asia currencies. (2)the decline in interest rate will place downward pressure on Asia currencies. (3)the overall impact depends on the magnitude of the factors just describe.13. (1) the interest rate in Canada declines to a level below the U.S. interest rate, places downward pressure on Canadian dollars value against USD. (2)Japanese investors that previously invested in Canada may shift to U.S., which will place downward pressure on the CADa value against JPY.P196，2、11、12、15、192. lower interest rate may reduce capital inflow to U.S., which could have reduced the value of $. If $ weakens, the export would increased, thus to stimulate the economy.11. U.S. Fed would normally consider a loose monetay policy to stimulate the economy. However, it could weaken $, a weak $ is expect to favorably affect US exporting firms and adversely affect U.S. importing firms.12. it can not apply intervention on its own. Because the monetary policy is consolidated.15.A. the volume of the sales should decline as the costs to consumers would rise due to the higher interest rate.B. the cost of purchasing materials should decline because the A$ appreciates against HK$.C. the interest expenses should decline because it will take fewer A$s to make the monthly payment of $100,000.19. the ECB could sell euros in the foreign exchange market, which may weaken euro, and cause an increase in the demand for European imports.Small Besiness Dilemma (p199)1. there will be downward pressure on the value of pounds. 2. the performance would be adversely affected by BOE policy. Because if pound weaken, the receivables will convert to fewer $s, which reflect a reduction in revenue.P2301. 1=$1.50=C$2The crosed rate quoted equal to the rate calculated, therefore triangular arbitrage cannot be used to earn a profit.2. if invest in U.S. 1+0.03=$1.03 if ma