|
中文术语 |
英文术语 |
英文解释 |
| H股 |
H-Shares |
A share of a Chinese company listed on the Hong Kong Stock Exchange. |
| 行业 |
Industry |
A category used to describe a company's primary business activity, usually determined by the largest source of a company's revenues. |
| 行业基金 |
Sector Fund |
A mutual fund whose objective is to invest in a particular industry or sector of the economy to capitalize on returns. |
| 行业类股 |
Sector |
A particular group of securities that are in the same industry. |
| 合并 |
Merger |
The combining of two or more companies, generally by offering the stockholders of one company securities in the acquiring company in exchange for the surrender of their stock. |
| 合并套利 |
Merger Arbitrage |
A hedge fund strategy whereby the stocks of two merging companies are simultaneously bought and sold to create a riskless profit. Merger arbitrageur look at the risk of the deal not closing on time or at all. Because of this slight uncertainty the target company's stock will typically sell at a discount to the price that the combined company has when the merger is closed. |
| 合成出售期权 |
Synthetic Put |
An investment strategy of short selling a security and entering a long position on its call. |
| 合成有抵押债务 |
Synthetic Collateralized Debt Obligation |
An artificial collateralized debt obligation that is backed by a pool of credit derivatives. |
| 合成租赁 |
Synthetic Lease |
An operating lease that is structured in a way so that it is not recorded as a liability on the balance sheet. Instead, it is considered to be an expense on the income statement. |
| 合资格机构投资者 |
QIB |
Primarily referring to institutions that manage at least $100 million in securities including banks, savings and loans institutions, insurance companies, investment companies, employee benefit plans, or an entity owned entirely by qualified investors. Also included are registered broker-dealers owning and investing, on a discretionary basis, $10 million in securities of non-affiliates. |
| 合资格机构投资者 |
Qualified Institutional Buyer (QIB) |
Primarily referring to institutions that manage at least $100 million in securities including banks, savings and loans institutions, insurance companies, investment companies, employee benefit plans, or an entity owned entirely by qualified investors. Also included are registered broker-dealers owning and investing, on a discretionary basis, $10 million in securities of non-affiliates. |
| 合资企业、合资经营 |
Joint Venture |
The cooperation of two or more individuals or businesses in a specific enterprise, each agreeing to share profit, loss, and control. |
| 荷兰拍卖 |
Dutch Auction |
An auction where the price on an item is lowered until it gets its first bid, and then the item is sold at that price. |
| 黑色星期四 |
Black Thursday |
The colloquial name given to Thursday, October 24th, 1929 when the New York Stock Exchange plummeted leading to the great depression of the 1930's. |
| 黑色星期一 |
Black Monday |
The most notorious day in financial history (October 19, 1987). The DJIA fell 508 points, almost 22%. This stands as the largest one-day drop in NYSE history. |
| 黑武士 |
Black Knight |
A company that makes a hostile takeover offer on a target company. |
| 恒生指数 |
HSI |
An index of the leading stocks on the Hong Kong stock market. |
| 恒生指数 |
Hang Seng Index (HSI) |
An index of the leading stocks on the Hong Kong stock market. |
| 横向合并 |
Horizontal Merger |
A merger occurring between companies producing similar goods or offering similar services. |
| 横向整合 |
Horizontal Integration |
When a company expands its business into different products that are similar to current lines. |
| 红筹公司 |
Red Chip |
A company incorporated and listed in Hong Kong with controlling Chinese shareholders. |
| 红头招股书、公开说明书初稿 |
Red Herring |
A preliminary registration statement that must be filed with the SEC or provincial securities commission. It describes the issue (IPO) and the prospects of the company. There is no price or issue size stated in the Red Herring. |
| 宏观经济 |
Macroeconomics |
The field of economics that studies the behavior of the economy as a whole. |
| 后进先出 |
LIFO |
A inventory management and valuation method whereby products acquired last are the ones sold first. |
| 后进先出 |
Last In First Out (LIFO) |
A inventory management and valuation method whereby products acquired last are the ones sold first. |
| 后门上市/借壳上市 |
Back Door Listing |
A strategy of going public used by a company that fails to meet the criteria for listing on a stock exchange. To get onto the exchange, the company desiring to go public acquires an already-listed company. |
| 后线 |
Back Office |
Administration and support personnel in a financial services company. They carry out functions like: settlements, clearances, record maintenance, regulatory compliance, accounting, etc. |
| 后续发行 |
Follow-on Offering |
An offering of additional shares after a company has had an initial public offering. |
| 后续发行 |
Subsequent Offering |
An offering of additional shares after a company has had an initial public offering (IPO). |
| 互相争夺市场 |
Market Cannibilization |
The negative impact a new product has on the sales performance of a company's existing, related products. |
| 华尔街 |
Wall Street |
- The street in New York where the NYSE is located.
- The NYSE itself.
- Also the collective name for the financial institutions in New York City. Including stock exchanges, banks, commodity markets, money markets, etc.
|
| 还本付息 |
Debt Service |
Cash required in a given period for the repayment of interest and principal of a debt. |
| 换算风险 |
Translation Exposure |
The exchange rate risk associated with companies that deal in foreign currencies or list foreign assets upon their balance sheets. |
| 黄金股 |
Golden Share |
A type of share that gives its shareholder veto power over changes to the company's charter. |
| 黄金降落伞 |
Golden Parachute |
Lucrative benefits given to top executives in the event that a company is taken over by another firm, resulting in the loss of their job. Benefits include items such as stock options, bonuses, severance pay, etc. |
| 黄金救生衣 |
Golden Lifejacket |
An exceptional compensation package an acquiring company offers to the top executives of the company being acquired. The offer is meant to keep these executives attracted to holding their offices. |
| 黄武士 |
Yellow Knight |
A company that was once making a takeover attempt but ends up discussing a merger with the target company. |
| 灰市 |
Gray Market |
- An unofficial market where new issues of shares are bought and sold before they officially become available for trading on the stock exchange.
- The sale of goods by unauthorized dealers.
|
| 灰武士 |
Gray Knight |
A second, unsolicited bidder in a corporate takeover. A gray knight enters the scene in order to take advantage of any problems between the first bidder and the target company. |
| 回报率 |
Return |
The gain or loss for a security in a particular period, consisting of income plus capital gains relative to investment. It is usually quoted as a percentage. |
| 回购 |
Buy Back |
- The buying back of shares by a corporation in order to reduce the number of shares on the market.
- D207The purchasing of shares previously sold short so the open position is closed.
|
| 回购股份 |
Share Repurchase |
A company's plan to buy back its own shares from the marketplace, reducing the number of outstanding shares. Typically, this is an indication that the company's management thinks the shares are undervalued |
| 混合证券 |
Hybrid Security |
A security that combines two or more different financial instruments. |
| 活动比率 |
Activity Ratio |
Accounting ratios that measure a firm's ability to convert different accounts within their balance sheets into cash or sales. |
| 活动收入 |
Active Income |
Income for which services have been performed. This includes wages, tips, salaries, commissions, and income from businesses in which there is material participation |
| 活期存款 |
Demand Deposit |
An account where deposited funds can be withdrawn at any time. |
| 活跃债券投资者 |
Active Bond Crowd |
A term used to describe fixed-income securities that trade frequently on the floor of the NYSE. |
| 货币 |
Currency |
Money circulated within an economy, including coins and paper notes. |
| 货币掉期 |
Currency Swap |
A swap that involves the exchange of principal and interest in one currency for the same in another currency. |
| 货币管理外包 |
Currency Overlay |
The outsourcing of currency risk management to a specialist firm, known as the overlay manager. This is used in international investment portfolios to separate the management of currency risk from the asset allocation and security selection decisions of the investor's money managers. |
| 货币供应 |
Money Supply |
The entire quantity of a country's bills, coins, loans, credit, and other liquid instruments in the economy. It is divided into three categories, M1, M2, and M3, according to the type and size of account the instrument is kept in. |
| 货币供应量1 |
M1 |
The category of the money supply that includes all physical money like coins and currency. It also includes demand deposits, which are checking accounts and NOW accounts. |
| 货币供应量2 |
M2 |
A category of the money supply that includes M1 in addition to all time-related deposits, savings deposits, and non-institutional money-market funds. |
| 货币供应量3 |
M3 |
A category of the money supply that includes M2 in addition to all large time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets. |
| 货币流量 |
Money Flow |
Calculated by averaging the high, low, and closing prices, and multiplying by the daily volume. Comparing that result with the number for the previous day tells you whether money flow was positive or negative for the current day. |
| 货币流量指数 |
Money Flow Index (MFI) |
A momentum indicator that measures the strength of money in and out of a security. A divergence between the MFI and price trend can be interpreted as a possible trend reversal. |
| 货币期货 |
Currency Futures |
A transferable futures contract that specifies the price at which a specified currency can be bought or sold at a future date. |
| 货币期权 |
Currency Option |
A contract that grants the holder the right, but not the obligation, to buy or sell currency at a specified price during a specified period of time. |
| 货币市场 |
Money Market |
The securities market dealing in short-term debt and monetary instruments. Money market instruments are forms of debt that mature in less than one year and are very liquid. |
| 货币市场基金 |
Money Market Fund |
A mutual fund that invests in short-term debt instruments. The fund's objective is to earn interest for shareholders while maintaining a net asset value of $1.00 per share. |
| 货币市场账户 |
Money Market Account |
A savings account that offers the competitive rate of interest (real rate) in exchange for larger than normal deposits. |
| 货币远期 |
Currency Forward |
A forward contract that locks-in the price an entity can buy or sell currency on a future date. |
| 货币政策 |
Monetary Policy |
The actions of a central bank, currency board, or other regulatory committee, that determine the size and rate of growth of the money supply, which in turn affects interest rates. |
| 获利抛售 |
Profit Taking |
Occurs when traders sell stock to cash in on a sharp rise. This action pushes prices down temporarily. |
