financing 名词解释 中英.docx

NOL：net operating lossA net operating loss is a loss taken in a period where a companys allowable tax deductions are greater than its taxable income, resulting in a negative taxable income.经营纯损额NPOAT:net operating profit after taxesNet operating profit after tax (NOPAT) is a companys potential cash earnings if its capitalization were unleveraged (that is, if it had no debt). 税后净营运利润NPV:net present valueNet Present Value (NPV) is the difference between the present value of cash inflows and the present value of cash outflows. 净现值NQC:net working capitalNet working capital is a measure of both a companys efficiency and its short-term financial health. Net working Capital = Current Assets - Current Liabilities净营运资本NSS:net share settlementThe resolution of all of a banks transactions at the end of the day. Since banks engage in so many electronic transactions, they cannot simply count their cash at the end of the day to see how much money they have. 净股权结算QIBs:qualified institutional buyersA Qualified Institutional Buyer is one that owns and invests, on a discretionary basis, at least $100 million in securities; for a broker-dealer the threshold is $10 million.合格的机构买家ROA:return on assetsReturn on assets is an indicator of how profitable a company is relative to its total assets.资产收益率ROI:return on investmentROI is a performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments.投资回报率organic growthOrganic growth is the growth rate that a company can achieve by increasing output and enhancing sales.有机增长PIK:payment-in-kind interestPayment-in-kind (PIK) is the use of a good or service as payment instead of cash.实物支付债券FCF:Price to Free Cash FlowPrice to free cash flow is a valuation metric that compares a companys market price to its level of annual free cash flow.股价与自由现金流比P/E:price-to-earning ratioThe price-earnings ratio is the ratio for valuing a company that measures its current share price relative to its per-share earnings.市盈率OPCO:operating companyOpco is most often used to describe the main operating company that is involved in an opco/propco deal. 营业公司, 自营公司Preferred stockA preferred stock is a class of ownership in a corporation that has a higher claim on its assets and earnings than common stock.优先股precedent transactions analysisA valuation method in which the price paid for similar companies in the past is considered an indicator of a companys value. 先例交易分析Operating profitOperating profit is the profit earned from a firms normal core business operations. 营业利润Prime RateThe prime rate is the interest rate that commercial banks charge their most credit-worthy customers.优惠利率FASB：Financial Accounting Standards BoardsThe financial accounting standards board is the formulation of financial accounting and reporting standards specify the private sector, the principles of regulated financial report preparation美国财务会计准则委员会GP：general partnerPrivate equity fund in the form of limited partnership in the form of two parties, as a general partner by sponsors由发起人担任一般合伙人的私募基金组织形式GAAP:generally accepted accounting principlesIt refers to an enterprise that is suitable for various industry specific accounting measurement and preparation of financial statements of the provisions of the procedures and methods.一般公认会计原则HSR Act : Hard-Scott-Rodino Antirust Improvements Act of 1976It is established the federal premerger notification program, which provides the FTC and the Department of Justice with information about large mergers and acquisitions before they occur.罗迪诺法案Hold Co :holding companyHolding company refers to buy stock control other enterprises for the purpose of a monopoly持股公司IPO :initial public offeringIt refers to the enterprise through the stock exchange publicly for the first time to investors to raise equity, in order to collect used in the process of enterprise development fund.首次公开募股IRR :internal rate of returnIt is total inflows present value equals the total amount of capital outflow present value, net present value of the discount rate is equal to zero.内部收益率LTM: last twelve monthsIt is a period of time commonly used to evaluate financial results such as a companys performance or investment returns.过去的十二个月（LTM）是一段时间，常用来评价财务业绩，如公司的业绩或投资回报LC: letters of creditIt refers to the issuing bank at the request of the applicant (the buyer) and according to the instructions to the beneficiary to open with a certain amount, in a certain period of time with in accordance with the payment of the shipping documents specified in the written guarantee files信用证LBO: leveraged buyoutsLBO is from the United States, it is in the developed capital market, a group of investors through into a small amount of its own funds, borrowed heavily to buy one of the target enterprise financial instruments杠杆收购LIBOR :London Interbank Offered RateIt is the annualized, average interest rate at which a select group of large, reputable banks that participate in the London interbank money market can borrow unsecured funds from other banks.伦敦银行同业拆借利率LPs: limited partnershipsLimited partnership business with two or more partners, one or more partners only equivalent to the investment responsibility有限合伙M&A :mergers & acquisitionsIt is a general term used to refer to the consolidation of companies.企业并购MAC/MAE : material adverse change/effectIt is formulated as aMaterial adverse event制定材料不良事件MD&A: management discussion & analysisThe management discussion and analysis (MD&A) is the section of aort companysannual repin which management discusses numerous aspects of the company, both past and present.管理层讨论与分析MOE: merger of equalsThe combination of two firms of about the same size to form a single company 对等合并CIM: confidential information memorandumIt is put together by a lead bank for a corporate credit facility when they wish to invite other banks to.机密信息备忘录Stock optionsUsually refers to the enterprise allows senior executives inside the company (general manager, director, etc.) in a specific period of time to buy the power of the companys stock or bonds at a special discount price股票期权Strategic BuyerA type of buyer in an acquisition that has a specific reason for wanting to purchase the company. Strategic buyers look for companies that will create asynergywith their existing businesses.战略采购员tax basisPurchaseprice, includingcommissionsand otherexpenses, used todeterminecapital gainsandcapitallosses for tax purposes.税收基础SuppliersThe individual or corporation, the individual or legal person of the supply of goods.供应商Tax expenseTax is the state organs to provide services or service of a specific to the relevant parties, a fee charged by the provisions of the.税收费用terminal value is the value of a bond at maturity, or of anassetat a specified, futurevaluationdate, taking into account factors such asinterest ratesand the current value of the asset, and assuming a stable growth rate.终端价值The time value of money is the idea that money available at the present time is worth more than the same amount in the future due to its potential earning capacity. This core principle of finance holds that, provided money can earn interest, any amount of money is worth more the sooner it is received.货币时间价值 target managementTarget management is a modern management method based on goal orientation, human centered, achievement as the standard, and the best performance of organization and individual.目标管理Tangible AssetA tangible asset is an asset that has a physical form. Tangible assets include bothfixed assets, such as machinery, buildings and land, andcurrent assets, such as inventory.有形资产tender offerTender offer is the most important acquisition situation of the securities market in the world. 招标Weighted Average Cost Of Capital - WACCWeighted average cost of capital (WACC) is a calculation of afirmscost of capitalin which each category ofcapitalis proportionatelyweighted.加权平均资本成本Variable CostA variable cost is a corporate expense that varies with production output. Variable costs are those costs that vary depending on a companys production volume; they rise as production increases and fall as production decreases.可变成本Unlevered BetaThe unleveredbetais the beta of a company without any debt. Unlevering a beta removes the financial effects from leverage.剔除财务杠杆风险系数Unlevered Free Cash Flow - UFCFUnlevered free cash flow (UFCF) is a companys cash flow before interest payments are taken into account.无杠杆自由现金流量Working CapitalWorking capital is a measure of both a companys efficiency and its short-termfinancial health.营运资本Interest ExpenseThe cost incurred by an entity for borrowed funds. Interest expense is a non-operating expense shown on the income statement.利息费用Accumulated depreciationIs refers to in accordance with the provisions of the tax law to shorten the depreciation period, improve the rate of depreciation to speed up the depreciation rate.Ultimately reduce the amount of taxable income.累计折旧Balance sheetRefers to the time point of an enterprise financial statements. Where assets are classified as a column, liabilities and net assets in the other column.资产负债表accrued liabilityIs a cost that has occurred but has not yet been paid.应计负债Bank bookPass book.银行存折benchmark rateThe benchmark interest rate refers to the rate of interest, which plays a decisive role in a variety of interest rates.基准利率breakage costsRefers to the money paid to the other party in accordance with the stipulations of the parties or the direct provision of the law, one party shall be in breach of contract.违约罚金Bridge loansTo raise financing for customers to have more and more capital, it is a short-term loan.过渡性融资Call dateThe date of redemption of the bond before maturity.提前赎回日call priceThe price at which a bond or a preferred stock can be redeemed by the issuer.赎回价格callable bondThe issuer shall have the right to redeem the bond before the maturity date.可赎回债券antitrustAdjective of laws and regulations; designed to protect trade and commerce from unfair business practices.反垄断的term loanA term loan is a monetary loan that is repaid in regular payments over a set period of time.定期贷款、分期偿还贷款Asset baseThe underlying assetsgiving value to a company, investment or loan.资产基础Capital asset pricing modelA model that describes the relationship between risk and expected return and that is used in the pricing of risky securities.资本资产定价模型club dealA club deal, in finance, refers to a leveraged buyout or other private equity investment that involves several different private equity investment firms.俱乐部贷款cash returnRefers to the process of cash flow back to professional banks in the field of circulation.现金回笼capital marketPlaces where the issuance and trading of marketable securities in the period of 1 years or more.资本市场Cost of capital refers to the enterprises obtain and use capital, and paid the price. Access to capital to pay the price, mainly refers to the issuance of bonds, the cost of stock, to non bank financial institutions loan fees, etc.; the use of capital to pay the price, such as dividends, interest and so on.资本成本Cost of debtThe cost of debt is the price paid by corporate debt, including loans and corporate bonds issued by financial institutions.债务成本Cost of equityrefers to the enterprise through the issue of ordinary shares to obtain funds to pay the price, it is equal to the dividend yield and capital gains rate of return, which is the necessary rate of return of shareholders.权益资本成本Cost structureCost structure, also known as cost structure and product cost in the cost (e.g., human, raw materials, land, machinery and equipment, information access, technology, energy, capital, the relationship between government and business and management quality, etc.) accounted for the proportion or the cost of the project accounted for the proportion of the total cost成本结构Current assetRefers to the enterprise can be in a year or more than a year of business cycle in the realization or use of assets, is an essential part of enterprise assets流动资产Current liabilitiesRefers to the will in one year (including one year) or more than repaid within 1 year of a business cycle of debt, including short-term borrowing, notes payable, accounts payable, accounts receivable in advance, wages payable, welfare expenses payable, dividends payable should be paid taxes and other temporary accounts payable, accrued expenses and due within one year of long-term borrowings.流动负债Deferred tax liabilityrefers to the amount of income tax payable in the future period calculated in accordance with the taxable temporary differences.递延所得税负债dividend yieldThe dividend yield is a year the total payout amount and the proportion of the market at that time.股息discount raterefers to the future payment for the present value of interest rate change, or to refer to the holder with no bill expire requests to the bank for cash, bank interest first deducted by the use of interest rates. The discount rate also refers to the discount rate, that member banks would have been discounted bills as collateral, as the central bank loans to pay the interest.贴现率Earnings per shareEarnings per share, namely, earnings per share, also known as after tax profit, refers to the ratio of after tax profits to equity每股收益Economies of scaleEconomies of scale are the phenomena of increasing the economic benefit by expanding the scale of production.规模经济Economies of scoperefers to the economy that is brought about by the scope of the firm and not by the scale, that is, when the cost of producing two products at the same time is lower than the sum of the cost required to produce each product.范围经济Equity value refers to the book balance of the equity investment minus the impairment provision for the investment, the book balance of equity investment includes investment costs, equity investment difference.股权价值Equity investorsRefers to the funds invested in the ability to bring the benefits of various types of equity projects, these projects include infrastructure charges, public transport operations and so on.权益投资Federal taxTax on the different nature of enterprises in accordance with the different tax rate.联邦税Face valueThe nominal value of the shares of the company at the initial set.票面价值Fair valueFair value is familiar with the market of buyers and sellers in the fair trade conditions and voluntarily set prices, or no association of both sides in the fair trade conditions of an asset could be sold or a liability can be pay clinch a deal the price公允价值Sectiona self-contained part of a larger composition.部门securities and exchange commission ( SEC)an independent federal agency that oversees the exchange of securities to protect investors.证券交易委员会selling general &administrativeLocated on a companys accounting income statement, combines a variety of expenses including advertising and payroll costs, as well as salaries and commissions, and costs related to travel for the companys sales people.销售行政和一般开支senior secured debtRefers to the default occurs, the priority can be secured bonds to obtain the repayment of the debt.优先有担保sensitivity analysisSensitivity an