Finance国际金融关键术语名词解释Word下载.docx

1、equity权益（与Liability（负债对应）evaluation of cost成本估算（评价）exclusive goal唯一目标executive compensation program管理者补偿（薪酬）计划extended family大家庭finance金融, 财政, 金融学finance system金融系统financial advisory firm金融咨询公司financial capital金融资本financial contracting订立金融合约（合同）Financial Executive Institute财务执行官组织financing筹措资金（融资）fi

2、nancing decision融资决策general partner一般合伙人going concern关注效应infrastructure基础设施、架构initial outlay初始投入integrated financial program完整的财务计划investment decision投资决策ITT corporation国际电报电话公司learning curve学习曲线liability负债、债务、责任limited liability有限责任limited partner有限责任合伙人long-lived asset长期资产long-range incentive syst

3、em长期激励系统market discipline市场规则market interest rate市场利率market risk premium市场风险价格market value of shares股票市场价值（简称市值）marketing营销maximize the wealth（使）财富最大化merger兼并，合并mortgage loan抵押贷款multinational conglomerate跨国企业集团mutual fund共同基金net worth净资产operating margin营业利润option期权original core business原始的核心业务partne

4、rship合伙企业pension liabilities养老金负债personal investing个人投资physical capital实物资本pool联营；集中使用的（资金，物）portfolio投资组合portfolio of asset资产组合preferred stock优先股president总裁primary commitment首要（基本）任务private corporation私人（非公众）公司professional managers职业经理人profit利润profit-maximization criterion利润最大化标准proposition命题public

5、 corporation公众公司quantitative model定量模型regulatory body监管机构resource allocation decision资源配置决策retail outlet零售摊点return回报，收益risk-averse风险厌恶（规避）security price证券价格share price appreciation股价上涨（增值）shareholder-wealth-maximization股东财富最大化sole proprietorship个体（业主制）企业spin-off配股spread out over time跨时间分布stake资助，资金s

6、tock option股票期权strategic planning战略规划supplier供货商takeover接管the exchange of assets and risks资产和风险的交换the set of markets and other institutions市场及其它机构的集合trade off权衡uncertain benefit不确定性收益unlimited （limited） liability无（有）限责任vice-president for financial财务副总裁voting right（股东）投票权welfare福利well-functioning cap

7、ital market高效的资本市场working capital management营运资本管理Chapter 2accounting procedure会计程序adverse selection逆向选择American Express美国运通信用卡arithmetic mean算术平均数asymmetry不对称average risk premium平均风险升水（溢价）Bank for International Settlement（BIS）国际清算银行banking panic银行危机bartern. 易货贸易；v. 讨价还价board of directors董事会by-produ

8、ct副产品call option买入期权（看涨期权）capital gain（loss）资本收益（损失）Capital market资本市场（即长期资金市场）cash dividend现金股利（红利）central bank中央银行charge price要价clearing and settling payment清算和结算支付closed-end封闭式的collateral担保品collateralization以担保commercial loan 商业贷款commercial loan rate商业贷款利率credit card信用卡default违约、托债、弃权default risk

9、违约风险deficit unit赤字部门defined-benefit pension plan规定收益型养恤金制defined-contribution pension plan规定缴费型养恤金制depository savings institution存款储蓄机构（系统）derivative衍生（证券）Deutsche Bank德意志银行dissemination推广、传播dividend reinvestment红利（股利）再投资dollar-denominated asset以美元计价的资产double-entry-bookkeeping复式记账法权益equity-kickers权益

10、条件expected rates of return期望（预期）收益率Federal Reserve System联邦储备系统Finance Accounting StandardsBoard财务会计标准委员会financial instrument金融工具financial intermediary金融中介financial market parameters金融市场参数financial variable金融（财务）变量fixed-income-instruments固定收益证券flow of fund资金流foreign exchange外汇formation extraction信息提

11、取forward contract远期合约functional perspective（从）功能（的角度或观点）future期货German marks德国马克go public上市incentive problem激励问题index fund指数（化）基金index-linked bonds（与物价）指数联系的债券information service信息咨讯（服务）insurance company保险公司interest rate利息率（简称利率）interest rate arbitrage利率套利interest rate equalization利率平价intermediary 中

12、介International Bank forReconstruction and Development国际复兴开发银行International Monetary Fund（IMF）国际货币基金组织International Swap Dealers Association国际掉期交易商协会intertemporal跨期的（多阶段的）IOUI owe you的简称，喻指“借条”issuing stock发行股票Japanese yen日元life annuity人寿年金liquidity流动性maturity（票据）到期日；期限money market 货币市场（即短期资金市场）moral

13、-hazard道德风险mortgage抵押mortgage rate抵押利率New York Stock Exchange纽约股票交易所nominal interest rate 名义利率offset弥补、抵消open-end开放式的Osaka Options and Futures Exchange大阪期货期权交易所over-the-counter-market（OTC）场外（交易）市场parties to contract合约的参与者pool or aggregate集中使用的（资金或物品）；premium升水、溢价price appreciation增值principal-agent p

14、roblem委托代理问题pro rata按比例的put option卖出期权（看跌期权）qusai-准、半rate of exchange汇率rates of return收益（回报）率rating agency评级机构real interest rate实际利率real rate of return实际收益率redeem赎回、偿还residual claim剩余索取（求偿）权risk aversionrisk premium风险升水（溢价）security dealer证券交易商shed specific risk规避（分散）特定（或私有）风险standard deviation标准差sta

15、ndardized option contract（经）标准化的期权合约surplus unit盈余部门trade-offtrust company信托公司U.S Treasury Bills美国国库券underwrite认购、包销unit of account计值单位universal bank全能银行（指兼做中央银行和商业银行业务的银行）volatility波动性well-information信息充分的yen rate of return（以）日元（记值）的收益率yield curve收益（率）曲线yield spread收益价差Chapter 3accounting earnings

16、会计收入accounting rule会计规则accrual应计的accrual accounting应计制（权责发生制）accumulated depreciation累计折旧amortize摊销、分期偿还apocryphal伪经的、假冒的asset turnover（ATO）资产周转率（销售收入/总资产）audit查账、审计balance sheet资产负债表benchmark（比较）基准bond-rating债券评级book value账面价值capital-incentive utility资本密集型的公用事业（公司）cash and equivalents现金及其等价物cash bu

17、dget现金预算cash cycle time现金循环周期cash inflow现金流入cash outflow现金流出common stock outstanding流通在外的普通股contingent liability或有负债（如：可能发生的诉讼赔偿等）current asset流动资产current liability 流动负债current ratio流动比率depreciation折旧、贬值disclose披露dividend payout rate股利支付率earnings before interest and tax （EBIT）息税前利润（=毛利- GS&A）earning

18、s per share 每股盈余（收益）earnings retention rate（收益）留存比率expiration date到期日external financing外部融资（比如，发行股票和债券）financial distress财务危机（困境）financial leverage财务杠杆（率）financial ratio财务比率financial statement财务报表general, selling, and administrative expenses（GS&管理及销售费用goodwill商誉gross margin毛利（润）（=销售收入-产品销售成本）income

19、statement损益表income tax所得税intangible asset无形资产inventory库存、存货inventory turnover存货周转率long-term debt长期负债market to book市值价值/账面价值marking to market盯住市场net income（or net profit）净利润（即税后利润= EBIT-利息-所得税）net working capital净营运资本（=流动资产-流动负债）净资产（即权益，=资产-负债）off-balance-sheet表外项目operation income 营运收益（营业利润）opportuni

20、ty cost机会成本owners equity所有者权益paid-in capital实收资本payable应付账款percent-of-sales method销售（收入）百分比法planning horizon计划（时间）跨度price to earnings市盈率（价格/盈余）profitability盈利能力、盈利性property土地、地产、所有权quick ratio速动比率receivable 应收账款receivables turnover应收账款周转率retained earnings留存收益ROA（return on asset）资产收益率（EBIT/资产）ROE（ret

21、urn on equity）净资产收益率（即权益报酬率，=税后利润/净资产）ROS（return on sales）销售利润率（EBIT/销售收入）short-term debt短期负债specify performance target设定业绩目标statements of cash flow现金流量表sustainable growth rate持续增长率taxable income应税收益（即税前利润=EBIT-利息）times interest earned利息保障倍数Tobins Q托宾Q值（=资产市值/重置成本）total shareholder returns总的股东收益（率）C

22、hapter 4after-tax interest rate税后利率amortization分期偿还、摊销annual percentage rate（APR）年度百分比（利率）annuity年金before-tax interest rate税前利率compound interest复利compounding复和（与discounting 相反的概念）discount rate折现率、贴现率discounted cash flow（DCF）折现现金流discounting折现、折扣effective annual rate（EFF）有效年利率exchange ratefuture valu

23、e终值future value factor终值系数（即由现值计算终值的换算因子）growth annuity增长年金immediate annuity即付年金implied interest rate隐含利率installment分期付款internal rate of return（IRR）内部报酬率market capitalization rate市场资本化利率（简称市场利率）net present value（NPV）净现值opportunity cost of capital资本的机会成本ordinary annuity普通年金（即后付年金）original principal（初

24、始）本金outstanding balance未平头寸payback period回收期perpetual annuity（or perpetuity）永续年金present value现值present value factor（终值）现值系数（终值系数的倒数）reinvest再投资simple interest单利tax-exempt免税的time value of money（TVM）货币（或资金）的时间价值yield to maturity到期收益率Chapter 5bequest遗赠、遗赠物break-even得失相当的，盈亏平衡的deductible可扣除（或抵扣）的explicit cost显性成本feasible plan可行（的）计划human capital人力资本implicit cost隐性成本incremental增量的、增值的intertemporal budget constraint跨期预算约束optimization model优化模型permanent income永久性收入provision条文、条款tax deferred税收（可）延缓的tax exempttrial-and-error试错 Chapter 6after-tax cash