高盛财经词典汉英对照简.docx
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高盛财经词典汉英对照简.docx
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高盛财经词典汉英对照简
高盛财经词典-汉英对照
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中文词句
English
EnglishDefinitions
144A条例
Rule144A
AnSECrulethatmodifiedatwo-yearholdingperiodrequirementonprivatelyplacedsecuritiesbypermittingQualifiedInstitutionalBuyers(QIBs)totradethesepositionsamongthemselves.
18定律
Ruleof18
ArulewherebythesumoftheinflationrateandtheP/EratiooftheDowJonesIndustrialAverageisanindicatorofthedirectionofthestockmarket.Ifthetotalisabove18,stocksaresupposedtodecrease.Ifthetotalisunder18,thenthestockma
1940年投资公司法
InvestmentCompanyActof1940
Createdin1940throughanactofCongress,thispieceoflegislationclearlydefinestheresponsibilitiesandlimitationsplaceduponfundcompaniesthatofferinvestmentproductstothepublic.
72定律
Ruleof72
Arulestatingthatinordertofindthenumberofyearsrequiredtodoubleyourmoneyatagiveninterestrate,youdividethecompoundreturninto72.Theresultistheapproximatenumberofyearsthatitwilltakeforyourinvestmenttodouble.
中文词句
English
EnglishDefinitions
已动用资本回报率
ReturnOnCapitalEmployed(ROCE)
Aratiothatindicatestheefficiencyandprofitabilityofacompany'scapitalinvestments.
Calculatedas:
Earningsbeforeinterestandtax(EBIT)
‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
(Capitalemployed+Shorttermborrowings-Intangibleassets)
公开发行价值
PublicOfferingPrice(POP)
Thepriceatwhichnewissuesareofferedtothepublicbyanunderwriter
无风险回报率
RiskFreeRateofReturn
Thequotedrateonanassetthathasvirtuallynorisk.
无风险资产
Risk-FreeAsset
Anassetwhichhasacertainfuturereturn.Treasuries(especiallyT-bills)areconsideredtoberisk-freebecausetheyarebackedbytheU.S.government.
不可买回
Non-Callable
Securitiesthatcannotbecalledbytheissuerpriortomaturity.
公平交易
ArmsLengthTransaction
Whenthebuyersandsellersofaproductactindependentlyofeachotherandhavenorelationshiptoeachother.
公平价值
FairValue
1.Theestimatedvalueofallassetsandliabilitiesofanacquiredcompanyusedtoconsolidatethefinancialstatementsofbothcompanies.
2.Inthefuturesmarket,fairvalueistheequilibriumpriceforafuturescontract.Thisisequaltothespotpriceaftertakingintoaccountcompoundedinterest(anddividendslostbecausetheinvestorownsthefuturescontractratherthanthephysicalstocks)overacertainperiodoftime.
毛收入
GrossIncome
1.Forindividuals,itisyourtotalpersonalincomebeforedeductions.
2.Forcompanies,itistheirrevenueminuscostofgoodssold(alsocalledgrossmargin).
内在价值
IntrinsicValue
1.Thevalueofacompanyoranassetbasedonanunderlyingperceptionofthevalue.
2.Forcalloptions,thisisthedifferencebetweentheunderlyingstock'spriceandthestrikeprice.Forputoptions,itisthedifferencebetweenthestrikepriceandtheunderlyingstock'sprice.Inthecaseofbothputsandcalls,ifthedifferencebetweentheunderlyingstock'spriceandthestrikepriceisnegative,thevalueisgivenaszero.
不良贷款
BadDebt
Adebtwhichisnotcollectableandthereforeworthlesstothecreditor.
不良贷款
Non-PerformingLoan,NPL
Loansthatareindefaultorclosetobeingindefault.
无形资产
IntangibleAsset
Anassetthatisnotphysicalinnature.E.g.goodwill
不良资产
Non-PerformingAsset
Anyassetthatisnoteffectivelyproducingincome.
分拆上市
Carveout
1.Sometimesknownasapartialspinoff,acarveoutoccurswhenaparentcompanysellsaminority(usually20%orless)stakeinasubsidiaryforanIPOorrightsoffering.
2.Whereanestablishedbrick-and-mortarcompanyhooksupwithventureinvestorsandanewmanagementteamtolaunchanInternetspinoff.
分拆
Spinoff
Anew,independentcompanycreatedthroughsellingordistributingnewsharesforanexistingpartofanothercompany.
风险价值
ValueatRisk(VAR)
Atechniqueforestimatingtheprobabilityofportfoliolossesexceedingsomespecifiedprice.
不能变现
Illiquid
Anassetorsecuritythatcannotbeconvertedintocashveryquickly(ornearprevailingmarketprices).
内部回报率
IRR
Oftenusedincapitalbudgeting,it'stheinterestratethatmakesnetpresentvalueofallcashflowequalzero.
内部回报率
InternalRateofReturn(IRR)
Oftenusedincapitalbudgeting,it'stheinterestratethatmakesnetpresentvalueofallcashflowequalzero.
内部增长
OrganicGrowth
Thegrowthrateofacompany,excludinganygrowthfromtakeovers,acquisitions,ormergers.
内部增长率
InternalGrowthRate
Thehighestlevelofgrowthachievableforabusinesswithoutobtainingoutsidefinancing.
长期债务/总资本比率
LongTermDebt/Capitalization
Aratioindicatingthefinancialleverageofafirm.Itiscalculatedbytakingacompany'slongtermdebtanddividingbythecapitalavailable(thesumoflongtermdebt,preferredstock,andstockholders'equity).
长期债务
LongTermDebt
Loansandfinancialobligations,lastingoveroneyear,onwhichinterestispaid.
长期资产
LongTermAssets
1.Reportedonthebalancesheet,it'sthevalueofacompany'sproperty,equipment,andothercapitalassets,lessdepreciation.
2.Astock,bond,orotherassetthatyouplanonholdinginyourportfolioforalengthyperiodoftime.
长期债款、融资债务
FundedDebt
Alongtermdebtthatmaturesaftermorethanoneyear.
中文词句
English
EnglishDefinitions
生产力
Productivity
Ameasureoftheamountofoutputperunitofinput.
生产毛利率
GrossProcessingMargin(GPM)
Thedifferencebetweenthecostofarawcommodityandtheincomeitgeneratesoncesoldasafinishedproduct.
市场风险溢价
MarketRiskPremium
Thedifferencebetweentheexpectedreturnonamarketportfolioandtherisk-freerate.
加权平均资本成本
WeightedAverageCostofCapital(WACC)
Acalculationofafirm'scostofcapitalthatweightseachcategoryofcapitalproportionately.IncludedintheWACCcalculationareallcapitalsourcesincluding:
commonstock,preferredstock,bonds,andanyotherlongtermdebt.
WACCiscalculatedbymultiplyingthecostofeachcapitalcomponentbyitsproportionalweightingandthensumming:
Where:
Re=costofequity
Rd=costofdebt
E=themarketvalueofthefirm'sequity
D=themarketvalueofthefirm'sdebt
V=E+D
E/V=percentageoffinancingthatisequity
D/V=percentageoffinancingthatisdebt
Tc=thecorporatetaxrate
平均年度回报率
AverageAnnualReturn
Afigureusedwhenreportingthehistoricalreturnofamutualfund.TheAARisstatedafterexpenseshavebeentallied,includingadministrationfees,12b-1fees,andothers.
平均年度增长率
AverageAnnualGrowthRate
Theaverageincreaseinthevalueofaportfolioovertheperiodofayear.
加快折旧
AcceleratedDepreciation
Anymethodofdepreciationusedforaccountingorincometaxpurposesthatallowsgreaterdeductionsintheearlieryearsofthelifeofanasset.
市盈率
Price-EarningsRatio
valuationratioofacompany'scurrentsharepricecomparedtoitsper-shareearnings.
Calculatedas:
MarketValueperShare
‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
EarningsperShare(EPS)
EPSisusuallyfromthelastfourquarters(trailingP/E),butsometimescanbetakenfromtheestimatesofearningsexpectedinthenextfourquarters(projectedorforwardP/E).Athirdvariationisthesumofthelasttwoactualquartersandtheestimatesofthenexttwoquarters.'
市盈率与增长及股息比率
PEGYRatio
AvariationofthePEGratiowhereastock'sP/Eratioisdividedbyitsprojectedearningsgrowthrateanddividendyield.
市盈率与增长及股息比率
PEGYRatio
AvariationofthePEGratiowhereastock'sP/Eratioisdividedbyitsprojectedearningsgrowthrateanddividendyield.
市盈率与增长比率
PEGRatio
Aratiousedtodetermineastock'svaluewhiletakingintoaccountearningsgrowth.Thecalculationisasfollows:
Price/EarningsRatio
‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
AnnualEPSGrowth
市盈率与增长比率
PEGRatio
Aratiousedtodetermineastock'svaluewhiletakingintoaccountearningsgrowth.Thecalculationisasfollows:
Price/EarningsRatio
‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
AnnualEPSGrowth
收入回报率
ReturnOnRevenue(ROR)
Ameasureofacorporation'sprofitability,calculatedasnetincomedividedbyrevenue.
NetIncome
‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
Revenue
压力测试
StressTesting
Simulativetechniquesusedonassetandliabilityportfoliostodeterminetheirreactionstodifferentfinancialstresses.
交叉持股
CrossHolding
Whenlistedcorporationsownsecuritiesissuedbyotherlistedcorporations.
企业价值
EnterpriseValue
Ameasureofacompany'svalue.Calculatedasmarketcapitalizationplusdebt&preferredshares,minuscash&cashequivalents.
企业重组
Reorganization
Aprocessdesignedtoreviveafinanciallytroubledorbankruptfirm.Areorganizationinvolvestherestatementofassetsandliabilities,andcommunicationwithcreditorsinordertomakearrangementsformaintainingrepayment.
企业倍数
EnterpriseMultiple
Aratiousedtodeterminethevalueofacompany.Theenterprise-multiplelooksatafirmasapotentialacquirerwould,becauseittakesdebtintoaccount-anitemwhichothermultiplesliketheP/Eratiodonotinclude.
EnterpriseValue
‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
EBITDA
企业融资
CorporateFinance
Anyfinancialormonetaryactivitythatdealswithacompanyanditsmoney.
优先权
PreemptiveRight
Therightofacompany'sexistingcommonshareholderstohavethefirstchancetopurchasesharesinacompany'sfuturestockissuance.
优先权
RightOfFirstRefusal
Ingeneral,therightofapersonorcompanytopurchasesomethingbeforetheofferingismadeavailabletoothers.
发行成本
FlotationCost
Thecostsassociatedwiththeissuanceofnewsecurities.
机会成本
OpportunityCost
Thedifferenceinreturnbetweenachoseninvestmentand
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