《高盛财经词典》汉英对照.doc

口译网 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 FilingThe name given to an IPO filing where important details are intentionally excluded. Sent to the SEC in order to begin the process of issuing a new security, these details must be submitted through amendments. This form of filing generally takes longer than the conventional methods.安全投资转移Flight to QualityWhen investors move their capital to the safest possible investment vehicle. It is usually caused by uncertainty in the financial markets.按比例Pro RataUsed to describe a proportionate allocation.B中文术语英文术语英文解释巴黎俱乐部Paris ClubA monthly meeting, taking place in Paris, between the creditors of 19 countries for the purpose of discussing debt issues. Among other things, the Paris Club addresses the issue of coordinated debt relief for developing countries that cannot service their debt.白皮书White PaperAn informational document issued by companies trying to promote or highlight the significance of a planned product or service白武士White KnightA company that makes a friendly takeover offer for the control of a target company that is being faced with a hostile takeover from a separate party.白象White ElephantAny investment that nobody wants because it is a money loser.半可变因素Semi-Variable CostA 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-annualAn event that occurs twice in a calendar year.保管人CustodianA financial institution that has the legal responsibility for a customers securities. This implies management as well as safekeeping.保管帐户Custodial Account1. An account created at a bank, brokerage firm or mutual fund company that is managed by an adult for a minor that is under the age of 18 to 21 (depending on state legislation).保护主义ProtectionismActions taken by a government to prevent imports from destroying domestic producers.保荐人Sponsor1. In the context of mutuals, an underwriting company that offers shares in its mutual funds.2. In the context of stocks, an influential investor who creates demand 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 a controlling block of shares and keep the existing management.保留盈余R/EThe percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet.Calculated by adding net income to (or subtracting any net losses from) beginning retained earnings and subtracting any dividends paid to shareholders.保留盈余Retained EarningsThe percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet.保收债券Cushion BondA type of callable bond that sells at a premium because the issued coupon payments are above market interest rates保证金、按金Margin Account1. The use of borrowed money to purchase securities, referred to as buying on margin.2. The amount of equity contributed by a customer as a percentage of the current market value of the securities held in a margin account.3. In a general business context, margin refers to the difference 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 beta coefficient) is a means of measuring the volatility of a security or portfolio of securities in comparison with the market as a whole.备考、模拟Pro FormaA latin term that translates into for the sake of form. In the investing world, the term describes a method of calculating financial results in order to emphasize either current or projected figures.备考盈利Pro Forma EarningsEarnings that are derived by pro forma rather than standard GAAP methods.背对背贷款Back-to-Back LoanA loan where two companies in different countries borrow offsetting amounts in each others currency. The purpose of this transaction is to hedge against currency fluctuations.被动投资Passive Investing?An investment strategy involving limited ongoing buying and selling actions. Passive investors will purchase investments with the intention of long-term appreciation and limited maintenance.倍数MultipleAnother term for the price/earnings ratio, which is calculated by dividing a stocks current price by the companys current annual earnings per share.倍数压缩Multiple CompressionArises when a stock trades at a certain multiple and, while earnings may be good, the stock price doesnt 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Principal1. 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 or seller for his/her own account and risk.本年迄今YTDThe period beginning January 1st of the current year up until todays date本年迄今Year To Date (YTD)The period beginning January 1st of the current year up until todays date本票Promissory NoteA written, dated, and signed two-party instrument containing an unconditional promise by the maker to pay a definite sum of money to a payee on demand or at a specified future date.本债比GearingThis is the ratio of long-term funds with fixed interest that makes up a firms capital.比例税Proportional TaxAn income tax that takes the same percentage of income from everyone regardless of how much (or little) an individual earns.必付合约Take or PayA provision, written into a contract, whereby one party has the obligation of either taking delivery of goods or paying a specified amount.避风港Safe Harbor1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.2. A form of shark repellant where a target company acquires a business that is so poorly regulated that the target itself is less attractive. In effect, this gives the target company a safe harbor.3. An accounting method that avoids legal or tax regulations and allows for a simpler (usually) method of determining a tax consequence than is available following the precise language of the tax code.避税乐园Tax HavenA country that offers individuals and businesses little or no tax liability.边际税率Marginal Tax RateThe amount of tax paid on an additional dollar of income. As income rises, so does the tax rate.边际效用Marginal UtilityThe additional satisfaction obtained by a consumer from consuming one more unit of a good or service.贬值DevaluationLowering the value of a countrys currency compared to the value of a commodity or to the value of another countrys currency.变动率ROCOne 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 rate of return of an investment to measure the investments volatility (risk).标准普尔S&P (Standard And Poors)A company that rates stocks and corporate and municipal bonds according to risk profiles. Additionally, Standard and Poors produces and tracks the S&P indexes, and publishes a variety of financial and investment reports.标准普尔S&PA company that rates stocks and corporate and municipal bonds according to risk profiles. Additionally, Standard and Poors produces and tracks the S&P indexes, and publishes a variety of financial and investment reports.标准普尔500S&P500An index consisting of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index, with each stocks weight in the index proportionate to its market value表现超越大市Market OutperformAn analyst recommendation meaning a stock is expected to do slightly better than the market return.表现超越大市OutperformAn analyst recommendation meaning a stock is expected to do slightly better than the market return.表现股票Performance SharesShares of company stock that are given to managers only if certain performance criteria is met.表现落后大市UnderperformAn analyst recommendation that means a stock is expected to do slightly worse than the market return波动性Volatility1. In general, volatility is a statistical measure of the tendency of a market or security to rise or fall sharply within a short period of time. Volatility is typically calculated by using variance or annualized standard deviation of the price or return.2. Volatility is a variable that appears in option pricing formulas. In the option pricing formula, it denotes the extent to which the the return of the underlying asset will fluctuate between now and the expiration of the option.表现最佳承销商Bulge BracketThe group of firms in an underwriting syndicate who sold the largest amount of the issue.补偿买进Buy-InWhen an investor is forced to repurchase shares because the seller did not deliver the securities in a timely fashion, or did not deliver them at all.不可抗力Force MajeureLiterally translated as great force, this clause is included in contracts to remove liability for unforeseen events restricting participants from fulfilling obligations.不可买回Non-CallableSecurities that cannot be called by the issuer prior to maturity.不良贷款Bad DebtA debt which is not collectable and therefore worthless to the creditor.不良贷款NPLLoans that are in default or close to being in default.不良资产Non-Performing AssetAny asset that is not effectively producing income.不良贷款Non-Performing LoanLoans that are in default or close to being in default.不能变现IlliquidAn asset or security that cannot be converted into cash very quickly (or near prevailing market prices).部分还款PaydownThe process of repaying a portion of an outstanding loan balance.C中文术语英文术语英文解释CEDELCEDELA zero-coupon bond issued by a corporation, it can be converted into that corporations common stock at a certain price.财产转让DispositionGetting rid of an asset or security through a direct sale or some other method.财产PropertyA legally owned possession or real estate.财产税Property TaxA 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 500An 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 EffectThe wealth effect refers to the propensity of people to spend more if they have more assets. The premise is that when the value of equities 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 index measures wealth intuitively as returns exceeding shareholders cost of capital.财富效应Wealth EffectThe wealth effect refers to the propensity of people to spend more if they have more assets. The premise is that when the value of equities rises, so does our wealth and disposable income. Therefore, we feel more comfortable about spending.财富管理Wealth ManagementA professional service which is the combination of financial/investment advice, accounting/tax services, and legal/estate planning for one fee.财务FinanceThe science that describes the management of money, banking, credit, investments, and assets.财务会计Financial AccountingReporting of the financial position and performance of a firm through financial statements issued to external users on a periodic basis.财务会计标准委员会Financial Accounting Standards Board - (FASB)Designated as the organization for establishing standards of financial accounting and reporting. FASB standards govern the preparation of financial reports and are recognized by the SEC.财务表现Financial PerformanceA companys ability to generate new resources, from day-to-day operations, over a given period of time.财务规划Financial PlannerAn investment professional who assists individuals put together a financial plan and coordinate various financial activities.财务代理Fiscal AgentAn organization, such as a bank or trust company, that takes responsibility for the fiscal duties of an unrelated party.财务年度Fiscal YearAny 12-month period that a company uses for accounting purposes.财政政策Fiscal PolicyGovernment spending policies that influence macroeconomic conditions. These policies affect tax rates, interest rates, and government spending, in an effort to control the economy.CAMELS评级制度CAMELS Rating SystemAn 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.参考比率Reference RateThe underlying index or rate upon which a floating-rate security is based.残值Salvage ValueThe estimated value that an asset will realize upon its sale at the end of its useful life.长城Chinese WallA slang term for the division within a brokerage firm that prevents insider information from being handed out by corporate advisers to investment traders.长期债款、融资债务Funded DebtA long term debt that matures after more than one year.长期债券Long BondA 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, its the value of a companys property, equipment, and other capital assets, less depreciation.2. A stock, bond, or other asset that you plan on holding in your portfolio for a lengthy period of time.长期债务/总资本比率Long Term Debt/CapitalizationA ratio indicating the financial leverage of a firm. It is calculated by taking a companys 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 DebtA ratio indicating the financial leverage of a firm. It is calculated by taking a companys long term debt and dividing by the capital available (the sum of long term debt, preferred stock, and stockholders equity).长期负债Long Term LiabilitiesRecorded on the balance sheet, a companys liabilities for leases, bond repayments, and other items due in more than one year.偿付比率Solvency RatioOne of many ratios used to gauge a companys ability to meet long-term obligations.偿付能力、资力SolvencyThe ability of a corporation to meet both its long-term fixed expenses and to have adequate money for long-term expansion and growth.偿还债务Repayment1. The payment of a debt obligation prior to its due date.2. The excess payment over a scheduled debt repayment amount.偿债基金Sinking FundA means of repaying funds advanced through a bond issue. The issuer makes periodic payments to a trustee, who retires part of the issue by purchasing the bonds in the open market.场外交易Curb TradingTrading that occurs outside of general market regulations, commonly through computers or telephones after the official exchanges have closed.场外交易证券OTCA 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.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 OptionAn option that allows the underwriting of an IPO to sell additional shares to the public if the demand is high.超额配股权OverallotmentSelling more securities than are available in an IPO.超额认购OversubscribedWhen the demand for a new issue of securities (IPO) exceeds the number of shares issued.超高市值股票Mega CapCompanies having a market capitalization greater than $200 billion.超卖OversoldA technical analysis term for a market in which the volume of selling that has occurred is greater than the fundamentals justify.成本基础Cost BasisThe purchase price after commissions or other expenses. Cost basis is used to calculate capital gains or losses when the security is eventually sold.成本协同效益Cost SynergyIn the context of mergers, cost synergy is the savings in operating costs expected after two companies, who compliment each others strengths, join.承销价差Underwriting SpreadThe spread between the amount received by underwriters from the public offering price and the amount underwriters pay to the issuing company for the securities承销团SyndicateA group of bankers, insurers, etcetera, who work together on a large project.承销团Underwriting1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt).2. The process of issuing insurance policies乘数效应Multiplier EffectThe expansion of a countrys money supply that results from the collective of member banks being able to lend more money than they take in.承继人HeirA person who inherits some or all of the estate of a recently dec