高盛财经词典 - 汉英对照T-Z - 钱钱课堂间

高盛财经词典 - 汉英对照T-Z

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Tombstone	Tombstone	A situation in which one participant's gains result only from another participant's equivalent losses. The net change is always 0.
摊薄后每股盈利	Diluted Earnings Per Share	The earnings per share (EPS) if all convertible securities were exercised.
摊薄、减损	Dilution	A reduction in earnings per share of common stock. Dilution occurs through the issuance of additional shares of common stock or the conversion of convertible securities.
摊销	Amortization	The paying off of debt in regular installments over a period of time. The deduction of capital expenses over a specific period of time. Similar to depreciation, it is a method of measuring the "consumption" of the value of long-term assets like equipment or buildings.
弹性	Elasticity	A measure of sensitivity of one variable to another. More specifically, the degree to which consumers respond to price changes. % Change in Quantity _{‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾} % Change in Price
套汇	Arbitrage	The simultaneous purchase and selling of a security in order to profit from a differential in the price. This usually takes place on different exchanges or marketplaces.?
套汇定价理论	Arbitrage Pricing Theory (APT)	An alternative to the CAPM, APT differs in its assumptions and explanation of risk factors associated with the risk of an asset.
套汇交易理论	Arbitrage Trading Program (ATP)	A program used to simultaneously place orders for stock index futures and the underlying stocks. The ATP attempts to exploit price variations (Market Arbitrage).
套汇交易理论	ATP	A program used to simultaneously place orders for stock index futures and the underlying stocks. The ATP attempts to exploit price variations (Market Arbitrage).
套汇债券	Arbitrage Bond	A lower-rate debt security issued by a municipality prior to the call date of the municipality's existing higher-rate security.
套现、货币化	Monetize	To convert into money. To convert from securities into currency that can be used to purchase goods and services.
特殊风险	Specific Risk	Risk that affects a very small number of assets. This is sometimes referred to as "unsystematic risk."
特殊功能公司	SPV	Also referred to as a "bankruptcy-remote entity" whose operations are limited to the acquisition and financing of specific assets. The SPV is usually a subsidiary company with an asset/liability structure and legal status that makes its obligations secure even if the parent company goes bankrupt. A subsidiary corporation designed to serve as a counterparty for swaps and other credit sensitive derivative instruments. Also called a "derivatives product company."
特殊功能公司	Special Purpose Vehicle	Also referred to as a "bankruptcy-remote entity" whose operations are limited to the acquisition and financing of specific assets. The SPV is usually a subsidiary company with an asset/liability structure and legal status that makes its obligations secure even if the parent company goes bankrupt. A subsidiary corporation designed to serve as a counterparty for swaps and other credit sensitive derivative instruments. Also called a "derivatives product company."
特殊项目	Exceptional Item	Charges incurred that must be noted upon a company's balance sheet according to GAAP principles. Even though these are considered to be a part of ordinary business charges, due to their sheer size or frequency, they must be accordingly disclosed.
特许协议	Concession Agreement	A right granted by a government to a corporation. It specifies rules under which the company can operate locally.
提高平均价格	Average Up	The process of buying additional shares in a company at higher prices than you originally purchased. This brings the average price you've paid for all your shares up.
天使投资者	Angel Investor	A financial backer providing venture capital funds for small startups or entrepreneurs.
天灾债券	Act of God Bond	A bond issued by an insurance company, linking principal and interest to the company's losses due to natural disasters.
条例A	Regulation A	An SEC regulation that governs offerings of $5,000,000 or less, which qualify for simplified registration (an exemption).
条例D	Regulation D	An SEC regulation that governs private placement exemption when there is no investment banker involved.
条例FD	Regulation FD (Reg FD)	A rule passed by the Securities and Exchange Commission in an effort to prevent selective disclosure by public companies to market professionals and certain shareholders. The Reg FD rule reads as follows: "Whenever an issuer, or any person acting on its behalf, discloses any material nonpublic information regarding that issuer or its securities to [certain enumerated persons], the issuer shall make public disclosure of that information... simultaneously, in the case of an intentional disclosure; and... promptly, in the case of a non-intentional disclosure."
条例G	Regulation G	The Federal Reserve Board regulation that governs the extension of credit for securities transactions by commercial lenders and non-financial corporations.
条例M	Regulation M	An IRS regulation that allows regulated investment companies to pass taxes from capital gains, dividends, and interest distributions onto individual investors.
条例Q	Regulation Q	A Federal Reserve Board regulation that limits the interest rate banks can pay on savings deposits.
条例T	Regulation T	The Federal Reserve Board regulation that governs customer cash accounts and the amount of credit that brokerage firms and dealers may extend to customers for the purchase of securities.
条款书	Term Sheet	A non-binding agreement setting forth the basic terms and conditions under which an investment will be made.
条例U	Regulation U	The Federal Reserve Board regulation that governs loans by banks for the purchase of securities.
贴现窗	Discount Window	The location at the Federal Reserve where financial institutions go to borrow money at the discount rate.
贴现率、折让率	Discount Rate	The interest rate that an eligible depository institution is charged to borrow short term funds directly from a Federal Reserve Bank. The interest rate used in determining the present value of future cash flows.
贴现票据、折扣票据	Discount Note	An unsecured corporate debt that is issued at a discount and matures at par. It is similar to a zero coupon bond or T-bill. Discount notes give institutional and retail investors convenient choices with respect to the investment size and maturity date for a short-term investment.
贴现现金流	Discounted Cash Flow (DCF)	A method used to estimate the attractiveness of an investment opportunity.
贴现债券、折扣债券	Discount Bond	A bond that is valued at less than its face amount.
通货萎缩	Deflation	The rate at which the general level of prices for goods and services is falling. The opposite of inflation.
通货复涨、通货在膨胀	Reflation	An economic policy whereby a government uses fiscal or monetary stimulus in order to expand a country's output.
通用会计制度	GAAP	The common set of accounting principles, standards, and procedures. GAAP is a combination of authoritative standards (set by policy boards) and the accepted ways of doing accounting.
通用会计制度	Generally Accepted Accounting Principles (GAAP)	The common set of accounting principles, standards, and procedures. GAAP is a combination of authoritative standards (set by policy boards) and the accepted ways of doing accounting.
同级诉讼	Class Action	An action where an individual represents a group in a court claim. The judgment from the suit is for all the members of the group (class).
投标、交换媒介	Tender	To accept a formal offer, such as a takeover bid or tender offer. Means of settlement in a financial transaction. A bid to buy treasury bills. Notice from a futures contract seller to offer money or goods for settlement of a futures contract.
投机	Speculation	The process of selecting investments with higher risk in order to profit from an anticipated price movement.
投票权	Voting Right	The right of a stockholder to vote on matters of corporate policy making as well as on who will compose the board of directors.
投票股票	Voting Shares	Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors.
投票信托	Voting Trust	A trust legally created in order to combine the voting power of shareholders through the transference of legal title and voting rights to a designated trustee for a set duration.
投票信托协议	Voting Trust Agreement	A contractual agreement detailing the specifics of the voting trust, including the name of its trustee, the effective timeframe, and the nature of its formation.
投资	Investing	The act of committing money or capital to an endeavor (a business, project, real estate, etc.) with the expectation of obtaining an additional income or profit.
投资	Investment	An asset or item with value that is purchased for income or capital appreciation.
投资持有量	Position	The amount of a security either owned (long position) or borrowed (short position) by an individual or by a dealer.
投资的现金流回报	Cash Flow Return on Investment (CFROI)	A valuation model that assumes the stock market sets prices based on cash flow, not on corporate performance and earnings. Cash Flow _{‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾} Market Value of Capital Employed
投资等级	Investment Grade	In the case of a stock, a firm that has a strong balance sheet, considerable capitalization, and is recognized as a leader in its industry. In the case of fixed income, a bond with a rating of BBB or higher.
投资顾问	Investment Advisor	An advisor, registered with the Securities and Exchange Commission, who manages the investments of others.
投资环境	Investment Climate	The general economic conditions affecting the financial markets.
投资回报率	ROI	The profit or loss resulting from an investment transaction, usually expressed as an annual percentage return.
投资回报率	Return On Investment (ROI)	The profit or loss resulting from an investment transaction, usually expressed as an annual percentage return.
投资回收期	Payback Period	The length of time required to recover the cost of an investment. Calculated as: Cost of Project _{‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾} Annual Cash Inflows All other things being equal, the better investment is the one with the shorter payback period.
投资媒体	Investment Vehicle	In general, any method by which to invest.
投资情绪指标	Sentiment Indicator	A general term used to describe indicators that gauge investor attitudes towards the market.
投资缩减	Disinvestment	Refers to the sale or liquidation of an asset or subsidiary of an organization or government. Also known as divestiture. A reduction in capital expenditure, or when a company decides to not replace depleted capital goods.
投资性房地产	Investment Real Estate	Real estate that generates income.
投资银行	IB (Investment Bank)	A financial intermediary that performs a variety of services. This includes underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating mergers and other corporate reorganizations, and also acting as a broker for institutional clients.
投资银行	Investment Bank	A financial intermediary that performs a variety of services. This includes underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating mergers and other corporate reorganizations, and also acting as a broker for institutional clients.
投资银行家	Investment Banker	A person representing a financial institution that is in the business of raising capital for corporations and municipalities.
投资者关系部	Investor Relations	A department, present in most medium to large public companies, that provides investors with an accurate account of the affairs of the company. This helps investors to make informed buy or sell decisions.
投资者关系部	IR	A department, present in most medium to large public companies, that provides investors with an accurate account of the affairs of the company. This helps investors to make informed buy or sell decisions.
投资资金回报率	ROIC	A calculation used to determine the quality of a company. The general definition for ROIC is as follows: Net Income - Dividends _{‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾} Total Capital
投资资金回报率	Return On Investment Capital (ROIC)	A calculation used to determine the quality of a company. The general definition for ROIC is as follows: Net Income - Dividends _{‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾} Total Capital
投资组合保险	Portfolio Insurance	A method of hedging a portfolio of stocks against the market risk by short selling stock index futures.
投资组合管理	Portfolio Management	The art and science of making decisions about: investment mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk vs. performance.
投资组合经理	Portfolio Manager	The person responsible for the investment of a mutual fund's assets, implementing its investment strategy, and managing the day-to-day portfolio trading.
投资组合收入	Portfolio Income	Income from investments, including dividends, interest, royalties, and capital gains.
透支	Overdraft	An instant extension of credit from a lending institution.
退出投资策略	Exit Strategy	The method that a venture capitalist or business owner intends to use to get out of an investment that he/she has made.
拖欠债务	Delinquent	A term describing the failure to meet required obligations according to schedule.

外包	Outsourcing	A practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than completing it internally.
外币效应	Foreign Currency Effects	The extent to which the changes in a foreign currency affects the return on a foreign investment.
外部董事	Outside Director	Any member of a company's board of directors who is not an employee or stakeholder in the company.
外国直接投资	Foreign Direct Investment (FDI)	An investment abroad, usually where the company being invested in is controlled by the foreign corporation.
外汇	Forex	The common term for the foreign exchange market. Brokerage firms and banks are connected over an electronic network that allows them to convert the currencies of most countries.
外汇	FX	The common term for the foreign exchange market. Brokerage firms and banks are connected over an electronic network that allows them to convert the currencies of most countries.
外汇率	Exchange Rate	The price of one country's currency expressed in another country's currency. In other words, the rate at which one currency can be exchanged for another.
外在价值	Extrinsic Value	The difference between the option value and the intrinsic value.
完全竞争	Perfect Competition	A market structure in which: All firms sell an identical product. All firms are price takers. All firms have a relatively small market share. Buyers know the nature of the product being sold and the prices charged by each firm. The industry is characterized by freedom of entry and exit.
网上银行	Online Banking	The performance of banking activities via the Internet.
往后定价	Back Pricing	A method used in specific futures contracts whereby the price of the commodity to be delivered is priced by the purchaser at some future date after entering into the position.
微观经济	Microeconomics	The study of the allocation of resources and the distribution of income, and how they are affected by the workings of government policies and the price system.
微型市值股票	Micro Cap Stock	Micro cap refers to a company with a market capitalization of between $50 million to $300 million.
围栏策略	Ring Fence	A strategy where an investor isolates a certain amount of money from any outside risk. It is mainly used by offshore investors.
委托人	Trustor	An individual or organization that gifts funds or assets to others by transferring fiduciary duty to a third party trustee that will maintain the assets for the benefit of the beneficiaries
委托帐户、全权管理帐户	Discretionary Account	An account that allows a broker to buy and sell securities without the client's consent.
违约风险	Default Risk	The risk that a company or individual will be unable to pay the contractual interest or principal on its debt obligations.
违约，未能履行合约	Default	The failure to promptly pay interest or principal when due. The failure to perform on a futures contract as required by an exchange.
未到价	Out of the Money	For a call, when an option's strike price is higher than the market price of the underlying stock. For a put, when the strike price is below the market price of the underlying stock.
未来价值	Future Value	The value of an asset or cash at a specified date in the future that is equivalent in value to a specified sum today. There are two ways to calculate FV: For an asset with simple annual interest: = Original Investment x (1+(interest rate*number of years)) For an asset with interest compounded annually: = Original Investment x ((1+interest rate)^number of years)
未实现收入	Unearned Revenue	When an individual or company receives money for a service or product that has yet to be fulfilled.
未实现收益	Unrealized Gain	A profit that results from holding on to an asset rather than cashing it in and using the funds
未实现损失	Unrealized Loss	A loss that results from holding on to an asset rather than cashing it in and officially taking the loss.
无抵押贷款	Unsecured Loan	A bank loan that is issued and supported only by the borrowers creditworthiness, rather than by some sort of collateral.
无抵押债权人	Unsecured Creditor	A person or institution that lends money to a company or individual without holding collateral on the property for security. This puts the creditor in a higher risk situation
无对冲黄金股票指数	BUGS Index	Short for "basket of un-hedged gold stocks," the BUGS index is the AMEX's index measuring gold companies that do not hedge their gold production beyond a year and a half.
无风险资产	Risk-Free Asset	An asset which has a certain future return. Treasuries (especially T-bills) are considered to be risk-free because they are backed by the U.S. government.
无风险回报率	Risk Free Rate of Return	The quoted rate on an asset that has virtually no risk.
无记名票据	Floater	A bond, or some other type of debt, whose coupon rate changes with market conditions (short term interest rates).
无形之手	Invisible Hand	Coined by Adam Smith in his 1776 book An Inquiry into the Nature and Causes of the Wealth of Nations. In his book he states: Essentially Smith says that individuals try to maximize their own good (and become wealthier), and by doing so, through trade and entrepreneurship, society as a whole will be better off. Furthermore, any government intervention in the economy isn't needed as the invisible hand would best guide the economy.
无形资产	Intangible Asset	An asset that is not physical in nature. E.g. goodwill
无追索权融资	Non-Recourse Finance	A loan where the lending bank is only entitled to repayment from the profits of the project the loan is funding, not from other assets of the borrower.
无追索权债务	Non-Recourse Debt	A loan that is secured by some sort of collateral, usually property. The issuer can seize the collateral if the borrower defaults.
五大工业国	G-5	Five of the world's leading countries that meet periodically to achieve a cooperative effort on international economic and monetary issues.
五大工业国	Group of Five (G-5)	Five of the world's leading countries that meet periodically to achieve a cooperative effort on international economic and monetary issues.
武士债券	Samurai Bond	A yen denominated bond that is issued in Tokyo by a non-Japanese company.
兀鹫基金	Vulture Fund	A fund that buys securities in distressed investments, such as high-yield bonds in (or near) default or equities that are in (or near) bankruptcy.
兀鹫投资者	Vulture Capitalist	A slang word for a venture capitalist who deprives an inventor of control over their own innovations and most of the money they should have made from the invention. A venture capitalist who invests in floundering firms in the hopes that they will turn around.

息票	Coupon	The interest rate stated on a bond when it's issued. The coupon is typically paid semiannually.
稀有	Scarcity	The basic economic problem, which arises from people having unlimited wants while there are and always will be limited resources. Because of scarcity, various economic decisions must be made to allocate resources efficiently.
洗黑钱	Money Laundering	The process by which large amounts of money illegally obtained from drug trafficking, terrorist activity, or other serious crimes, is given the appearance of having originated from a legitimate source.
系统性风险	Systematic Risk	risk that influences a large number of assets.
下调评级	Downgrade	A negative change in the rating of a security.
下游	Downstream	Refers to oil and gas operations after the production phase and through to the point of sale.
先进先出	First In, First Out (FIFO)	An inventory management and valuation method where the products acquired first are the ones sold first.
先投资，后调查	Invest, Then Investigate	An investment strategy where investors immediately purchase a stock and then do research and due diligence afterwards.
闲置时间	Idle Time	Unproductive time spent by employees due to factors beyond their control.
现货	Cash Commodity	The term used to refer to the actual or physical commodity underlying a futures contract.
现货即期价格	Spot Price	The current price at which a particular commodity can be bought or sold at a specified time and place.
现货商品	Spot Commodity	A commodity traded on the spot market. That is, with the expectation of actual delivery, as opposed to a commodity future that is usually not delivered.
现货市场	Cash Market	The market for a cash commodity or actual, as opposed to its futures contract.
现货市场	Spot Market	A commodities market in which goods are sold for cash and delivered immediately. A futures transaction which will expire in 1 month or less.
现金	Cash	Legal tender or coins that can be used in exchange goods, debt, or services. Sometimes also including the value of assets that can be converted into cash immediately, as reported by a company.
现金的现金回报率	Cash on Cash Return	A rate of return often used in real estate transactions. The calculation determines "cash income" on "cash invested." Annual Dollar Income _{‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾} Total Dollar Investment
现金股息	Cash Dividend	Money paid to stockholders, normally out of the corporation's current earnings or accumulated profits. All dividends must be declared by the board of directors, and are taxable income to the recipients.
现金及现金等价物	Cash And Cash Equivalents	An element recorded on the balance sheet, it reports the value of cash and its equivalents. These are assets that are cash or can be converted into cash immediately.
现金价格	Cash Price	The price of the purchase and delivery of cash commodities.
现金流	Cash Flow	The amount of cash a company generates and uses during a period, calculated by adding noncash charges (such as depreciation) to the net income after taxes. Cash Flow can be used as an indication of a company's financial strength. It is also sometimes referred to as the "money value" of trades in a stock during a trading day
现金每股盈利	Cash EPS	A ratio derived from operating cash flow divided by diluted shares outstanding.
现金投资	Cash Investment	Short-term obligations, usually ninety days or less, that provide a return in the form of interest payments.
现金余额养老金计划	Cash Balance Pension Plan	An employee pension plan whereby an employer will credit the participant's account with a set percentage of their yearly compensation plus interest charges.
现金预算	Cash Budget	An estimation of the cash inflows and outflows for a business.
现时价格	Current Price	The "real time" price of a security trading on an exchange.
现时年期	Current Maturity	The interval between the present date and the maturity date of a bond.
现时收益率	Current Yield	Annual income (interest or dividends) divided by the current price of the security.
现值	Present Value	The amount today that a sum of money in the future is worth, given a specified rate of return.
相对实力	Relative Strength	A measure of price trend that indicates how a stock is performing relative to other stocks in its industry. It is calculated dividing the price performance of a stock by the price performance of an appropriate index for the same time period.
相对市盈率比率	Price-Earnings Relative	A stocks price-earnings ratio divided by the price-earnings ratio for a market measure, such as the S&P 500 index or Wilshire 5000.
相关证券、相关股票	Underlying	In options, the security that must be delivered if a put or call option is exercised. In equities, the common stock that underlies certain types of securities such as warrants and convertible bonds
项目融资	Project Finance	Project finance is defined by the The International Project Finance Association (IPFA) as: The financing of long-term infrastructure, industrial projects and public services based upon a non-recourse or limited recourse financial structure where project debt and equity used to finance the project are paid back from the cashflow generated by the project.
消费物价指数	CPI	A measure of price changes in consumer goods and services such as gasoline, food, and automobiles
消费物价指数	Consumer Price Index (CPI)	A measure of price changes in consumer goods and services such as gasoline, food, and automobiles
消费信贷	Consumer Credit	A debt that someone incurs for the purpose of purchasing a good or service.
消费者信心指数	Consumer Confidence Index (CCI)	A survey of consumer confidence by the Conference Board. It measures how optimistic or pessimistic consumers are with respect to the economy in the near future.
销记、注销	Write-Off	To charge an asset amount to expense or loss in order to reduce the value of that asset and one's earnings.
销售报酬	Concession	A selling group's compensation in an underwriting (on a per-share or per-bond basis).
销售额与现金流比率	Sales to Cash Flow Ratio	A ratio that indicates whether or not a company's sales are high in comparison to its cash flow. Calculated as: Sales per Share _{‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾} Cash Flow per Share
销售回报率	Return On Sales (ROS)	A widely used ratio that detects operational efficiency. It is calculated by dividing net income before interest and tax by the sales.
销售及行政开支	Selling, General, & Administrative Expenses (SG&A)	Reported on the Income Statement, it is all the costs associated with selling and the general expenses of running the business.
销售税	Sales Tax	A tax that is imposed on the sale price of a retail good or services.
效益比例	Efficiency Ratio	A ratio used to calculate a bank's efficiency. Not all banks calculate the efficiency ratio the same way. We've seen the ratio calculated as all of the following: non-interest expense divided by total revenue less interest expense non-interest expense divided by net interest income before provision for loan losses non-interest expense divided into revenue operating expenses divided by fee income plus tax equivalent net interest income For all versions of the ratio, an increase means the company is losing a larger percentage of its income to expenses. If it is getting lower, it is good for the bank and its shareholders.
效益成本比率	Benefit Cost Ratio - (BCR)	A ratio attempting to clearly identify the relationship between the cost and benefits of a proposed project.
协同效应	Synergy	Used mostly in the context of mergers and acquisitions, synergy is the idea that the value and performance of two companies combined will be greater than the sum of the separate individual parts.
新经济	New Economy	A buzzword describing the new, high growth industries that are on the cutting edge of technology and are the driving force of economic growth.
新闻稿	Press Release	If it's an earnings press release, the release will discuss the financial results of the company for the recently completed quarter and may provide comments from management. Press releases often list valuable contact information that can assist you in your research, such as the company's web address.
新兴市场基金	Emerging Market Fund	A mutual fund investing a majority of its assets in the financial markets of a developing country, typically a small market with a short operating history.
信贷额度、资金设施	Facility	A term used to describe financial assistance programs offered by lending institutions to help companies requiring capital.
信贷额度、信贷限额	Line of Credit	An arrangement between a financial institution (usually a bank) and a customer establishing a maximum loan balance that the bank will permit the borrower to maintain.
信贷风险	Credit Risk	The possibility of a loss occurring due to the financial failure to meet contractual debt obligations.
信贷违约掉期	Credit Default Swap	A swap designed to transfer the credit exposure of fixed income products between parties.
信贷息差	Credit Spread	The spread between Treasury securities and non-Treasury securities that are identical in all respects except for quality rating. An options strategy where a high premium option is sold and a low premium option is bought on the same underlying security.
信贷、信用、贷项	Credit	A contractual agreement in which a borrower receives something of value now, with the agreement to repay the lender at some date in the future. Also, the borrowing capacity of an individual or company. An accounting entry system that either decreases assets or increases liabilities.
信贷衍生工具	Credit Derivative	Privately held negotiable bilateral contracts that allow users to manage their exposure to credit risk. Credit Derivatives are financial assets like forward contracts, swaps, and options for which the price is driven by the credit risk of economic agents (private investors or governments).
信托	Trust	A fiduciary relationship in which one person, a trustee, holds title to property or assets for the benefit of another person, the beneficiary
信用合作社	Credit Union	Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners.
信用卡	Credit Card	A card allowing someone to make a purchase on borrowed money. Credit cards are one of the most popular forms of payment for consumer goods and services in the United States.
信用评级	Credit Rating	An assessment of the credit worthiness of individuals and corporations. It is based upon the history of borrowing and repayment, as well as the availability of assets and extent of liabilities.
信用悬崖	Credit Cliff	A slang term meaning that credit deterioration could be compounded by provisions such as rating triggers or financial covenants. These can put pressure on the company's liquidity or its business to a material extent.
信用证	Letter of Credit	A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount.
行为经济学	Behavioral Economics	A field of economics that studies how the actual decision-making process influences the decisions that are reached.
行为金融学	Behavioral Finance	A field of finance that proposes psychology-based theories to explain stock market anomalies. Within behavioral finance it is assumed that the information structure and the characteristics of market participants systematically influence their investment decisions as well as market outcomes.
行使价格	Strike Price	The stated price per share for which underlying stock may be purchased (for a call) or sold (for a put) by the option holder upon exercise of the option contract.
行使、执行	Exercise	An action by a stockholder taking advantage of a privilege offered by a company or other financial institution. This includes warrants, options, and other exotic financial instruments.
熊市	Bear Market	A market in which prices of a certain group of securities are falling or are expected to fall. Although figures can vary, a downturn of 15%-20% or more in multiple indexes (Dow or S&P 500) is considered a bear market.
需求	Demand	A consumer's desire and willingness to pay for a good or service.
需求的价格弹性	Price Elasticity of Demand	Price Elasticity measures the responsiveness of the quantity demanded of a good to a change in its price. It is calculated as: % Change in Quantity Demanded _{‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾} % Change in Price
需求建档	Book Building	The process by which the offer price of an IPO is based on actual demand from institutional investors.
宣告（合约）无效、废止契约	Defeasance	A provision that voids a bond or loan when the borrower sets aside cash or bonds sufficient enough to service the borrower's debt.
选出最有利的（投资等）	Cherry Picking	The act of investors choosing investments that have performed well within another portfolio in anticipation that the trend will continue. Relating to bankruptcy proceedings whereby the courts uphold contracts favorable to bankrupt companies, but annul those that are unfavorable.
循环信贷	Revolving Credit	A line of credit where the customer pays a commitment fee and is then allowed to take and repay funds at will. It is usually used for operating purposes, fluctuating each month depending on revenues and expenditures
迅速换手投资者	Flipper	A short-term investor or day trader who buys pre IPO shares, swiftly spinning them out into public markets for a quick profit.

息票

Coupon

The interest rate stated on a bond when it's issued. The coupon is typically paid semiannually.

稀有

Scarcity

The basic economic problem, which arises from people having unlimited wants while there are and always will be limited resources. Because of scarcity, various economic decisions must be made to allocate resources efficiently.

洗黑钱

Money Laundering

The process by which large amounts of money illegally obtained from drug trafficking, terrorist activity, or other serious crimes, is given the appearance of having originated from a legitimate source.

系统性风险

Systematic Risk

risk that influences a large number of assets.

下调评级

Downgrade

A negative change in the rating of a security.

下游

Downstream

Refers to oil and gas operations after the production phase and through to the point of sale.

先进先出

First In, First Out (FIFO)

An inventory management and valuation method where the products acquired first are the ones sold first.

先投资，后调查

Invest, Then Investigate

An investment strategy where investors immediately purchase a stock and then do research and due diligence afterwards.

闲置时间

Idle Time

Unproductive time spent by employees due to factors beyond their control.

现货

Cash Commodity

The term used to refer to the actual or physical commodity underlying a futures contract.

现货即期价格

Spot Price

The current price at which a particular commodity can be bought or sold at a specified time and place.

现货商品

Spot Commodity

A commodity traded on the spot market. That is, with the expectation of actual delivery, as opposed to a commodity future that is usually not delivered.

现货市场

Cash Market

The market for a cash commodity or actual, as opposed to its futures contract.

现货市场

Spot Market

A commodities market in which goods are sold for cash and delivered immediately.
A futures transaction which will expire in 1 month or less.

现金

Cash

Legal tender or coins that can be used in exchange goods, debt, or services. Sometimes also including the value of assets that can be converted into cash immediately, as reported by a company.

现金的现金回报率

Cash on Cash Return

A rate of return often used in real estate transactions. The calculation determines "cash income" on "cash invested."
Annual Dollar Income
_{‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾}
Total Dollar Investment

现金股息

Cash Dividend

Money paid to stockholders, normally out of the corporation's current earnings or accumulated profits. All dividends must be declared by the board of directors, and are taxable income to the recipients.

现金及现金等价物

Cash And Cash Equivalents

An element recorded on the balance sheet, it reports the value of cash and its equivalents. These are assets that are cash or can be converted into cash immediately.

现金价格

Cash Price

The price of the purchase and delivery of cash commodities.

现金流

Cash Flow

The amount of cash a company generates and uses during a period, calculated by adding noncash charges (such as depreciation) to the net income after taxes. Cash Flow can be used as an indication of a company's financial strength.
It is also sometimes referred to as the "money value" of trades in a stock during a trading day

现金每股盈利

Cash EPS

A ratio derived from operating cash flow divided by diluted shares outstanding.

现金投资

Cash Investment

Short-term obligations, usually ninety days or less, that provide a return in the form of interest payments.

现金余额养老金计划

Cash Balance Pension Plan

An employee pension plan whereby an employer will credit the participant's account with a set percentage of their yearly compensation plus interest charges.

现金预算

Cash Budget

An estimation of the cash inflows and outflows for a business.

现时价格

Current Price

The "real time" price of a security trading on an exchange.

现时年期

Current Maturity

The interval between the present date and the maturity date of a bond.

现时收益率