Ⅰ 協議翻譯最後兩段，謝謝～
八月七日. 杠桿比率. 該公司將不允許比例,截至最後一天造成財政季度,該公司 (一)總和長期債券支付債務和當前部分加長期債務, 截至日期等,(二)ebitda為連續四個季度終了財政等日期, 要大於3.50比1. 8月8日. 使用收益. 該公司將利用所得的貸款用途包括商業企業一般以下文件備份(符合所有適用法律及監管規定, 包括但不限 U和X和證券法規的行為,以及1933年和1934年證券法的規定均); 只要不是銀行的業務代理,也不得有任何責任,至於使用任何這類收益.
ebitda不知是什麼？
以國債、金融債等固定收益類金融工具為主要投資對象的基金稱為債券型基金，因為其投資的產品收益比較穩定，又被稱為「固定受益基金」。根據投資股票的比例不同，債券型基金又可分為純債券型基金與偏債劵型基金。兩者的區別在於，純債型基金不投資股票，而偏債型基金可以投資少量的股票。偏債型基金的優點在於可以根據股票市場走勢靈活地進行資產配置，在控制風險的條件下分享股票市場帶來的機會。
一般來說，債券型基金不收取認購或申購的費用，贖回費率也較低。
債券基金有以下特點：
（一）低風險，低收益。由於債券型基金的投資對象——債券收益穩定、風險也較小，所以，債券型基金風險較小，但是同時由於債券是固定收益產品，因此相對於股票基金，債券基金風險低但回報率也不高。
（二）費用較低。由於債券投資管理不如股票投資管理復雜，因此債券基金的管理費也相對較低，目前我國債券型基金的
（三）收益穩定。投資於債券定期都有利息回報，到期還承諾還本付息，因此債券基金的收益較為穩定。
（四）注重當期收益。債券基金主要追求當期較為固定的收入，相對於股票基金而言缺乏增值的潛力，較適合於不願過多冒險，謀求當期穩定收益的投資者。
To treasury bonds, financial bonds and other fixed-income instruments such as the main investment fund known as bond funds, investment procts because of their relatively stable earnings, also known as the "fixed benefit fund." According to the proportion of different stock investments, bond funds can be divided into pure bond funds and partial Bonds Fund. The difference between the two, not pure debt funds in the stock market, and partial debt funds can invest in a small number of stocks. Partial debt funds in accordance with the advantage of the stock market movements can be flexibility to asset allocation, risk control conditions to share the opportunities offered by the stock market.
In general, bond funds do not charge subscription or purchase, the cost of the redemption rates are lower.
Bond Fund has the following characteristics:
(A) low-risk, low income. As bond funds, the investment target - bond yields stable, the risks are also smaller, therefore, less risky bond funds, but because the bonds are fixed-income procts, relative to equity funds, bond funds low-risk but not the rate of return high.
(2) lower cost. As bond investment management managing complex than equity investments, bond fund management fees are relatively low, our country's bond funds
(C) income stability. Invest in regular bonds have interest returns, e also committed to debt service, and therefore the bond proceeds fund more stable.
(D) focus on current income. ABF mainly seeking more current fixed income, compared to equity funds in terms of the lack of value-added potential, in not too much more suitable for adventure, the current stability of income for investors.
Ⅲ 哪個好心人能幫忙找一篇英文論文關於「可轉換債券」方面的。如果隨有翻譯成中文的就更加謝謝了了
Convertible bonds depends primarily on the performance of the investment and financing of the operating conditions of the issuing company. Of financiers, the convertible bonds can lead to low-cost financing, equity dilution is relatively weak, to improve the capital structure, flexibility and strong performance; For investors, convertible bonds provide both the safety of the outstanding principal and give access to potential stock earnings growth opportunities. Convertible bonds for the use of effective investment and financing activity, we need to scientifically measured convertible bond performance of the investment and financing, investment and financing in order to avoid errors in decision-making.
First, the performance of convertible bond financing analysis
The issuance of convertible bonds by the financing of the performance of earnings per share to reflect. At the operational effectiveness of certain circumstances, the higher the earnings per share, stock value, the more a more shareholder wealth, the better the performance of financing. Analysis in order to facilitate understanding, the following examples.
Example: the original capital of the company FeiDa 9 000 million, 0.3 yuan per share, the original debt capital of 5 000 million, the annual interest rate of 3%, 33% income tax rate. Refinancing is to be 10 1 0 million yuan investment in new projects, the company decided to issue a face value of 1 000 million, interest rate 1.5% (simple interest), 5-year convertible bonds 100,000, Convertible price of 10 Yuan / shares, the conversion period of six month bonds to the maturity of the bonds after the day ended, and an agreement: If the closing price of shares FeiDa 30 consecutive trading days below the 70% Convertible Price, creditors have the right to hold all or part of convertible bonds to 105% of face value (including the current interest) price to sell the company FeiDa; FeiDa shares if the closing price for 30 trading days the price is higher than 130 percent Convertible, FeiDa companies have the right to 105% of face value (including the current interest) will be the price of the Convertible Bonds have not yet bought back. In addition, if the company is issuing shares FeiDa financing, according to the current stock market price of 8 / 1 125 million shares issued; if the general issue of bond financing, to issue a face value of 1 000 million, the interest rate 3% (simple interest), 5 years 100,000 bonds.
FeiDa company in the investment project under the premise of change, set up new projects of interest to achieve an annual pre-tax profit for the EBIT, the various modes of financing under the earnings per share (EPS) were calculated as follows:
Convertible bonds can be converted before: EPS1 = [(EBIT-10 000 × 1.5%) (1-33%) ÷ 9 000] +0.3;
After Convertible Convertible Bonds: EPS2 = [EBIT (1-33%) +0.3 × 9 000] ÷ (1 000 +9 000) (Note: The number of Convertible = 10 000 ÷ 10 = 1 000 million);
Issue of ordinary shares: EPS3 = [EBIT (1-33%) +0.3 × 9 000] ÷ (1 125 +9 000);
General bond issue: EPS4 = [(EBIT-10 000 × 3%) (1-33%) ÷ 9 000] +0.3.
It is clear that investment in new projects no matter how effective are EPS1> EPS4, EPS2> EPS3, that is, if the failure Convertible convertible bonds and convertible bond financing is always better than the performance of bond financing; Convertible convertible bonds, if successful, Convertible bond financing is always superior to the performance of common stock financing.
Order EPS1 = EPS3, the mode of financing can be obtained in two of the non-points: EBIT1 =
-2 680 (million).
Order EPS2 = EPS4, the mode of financing can be obtained in two of the non-points: EBIT2 =- 1 030 (million).
(1) When the return on investment in new projects is very poor, that is, at EBIT <-2 680 million cases, because of new projects FeiDa cause of the decline in the overall effectiveness of the company, stock prices down not up, Convertible bound to fail, then there is EPS3> EPS1> EPS4, convertible bond financing at this time is better than the performance of bond financing in general worse than the common stock financing.
(2) when the new investment projects in poor, that is, although EBIT at more than -2 680 million, but still not enough to promote the exercise of creditors to the case of equity, then there is EPS1> EPS3, EPS1> EPS4, at this time Convertible bond financing is better than the performance of common stock financing and bond financing in general, is the best option.
(3) When the new project a very good investment returns, that is, companies in the Mainland share prices have risen, and the exercise of incentive to creditors to the case of equity, EBIT necessarily much higher than -1 030 million, while there is EPS4> EPS2> EPS3 at this time could be better than the performance of convertible debt financing to facilitate the financing of ordinary shares in the general bond financing bad.
The above analysis results show that the interests of the shareholders, in most cases, the use of convertible bond financing are favorable, the main reasons are:
1. Low-cost financing. Convertible bond interest rates below the general rate bonds and tax credits have the effect. If the Convertible failure, which is equivalent to the company issued bonds with lower interest rates. Of course, the convertible bond financing, low-cost advantage will graally disappear as the Convertible, but compared with the direct offering financing, or saving some of the costs of pre-Convertible.
2. Diluted share capital of the relatively weak role. Diluted share capital of the new shareholders equity refers to the old shareholders equity dilution resulting from the specific performance of the non-operating earnings per share decline, stock prices fell. Although graally Convertible convertible bonds, the equity dilution effect will graally, but the dilution effect has lagged behind, offering direct financing to avoid the rapid expansion of equity shares arising problem down. In addition, higher prices because of Convertible financing a lot of issued shares, the total amount of financing certain circumstances, the Convertible is less than the number of shares the number of direct, to some extent, reced equity dilution effect.
3. To improve the capital structure. The use of bond financing, is bound to improve the company balance sheet, increased financial risk. General Notes to this effect until the maturity of the bonds to repay, and convertible bonds of this effect in most cases are temporary, with the exercise-to-equity swap, the original principal amount of the debt into a permanent capital inputs at the same time rece the liabilities increased by the interests of capital, financial risks decline, the company's capital structure improved.
4. Flexibility. The adoption of common stock and common bond financing, in the scale of financing, financing companies on the issue of time and financial requirements, such as on the law have more stringent controls, such as the previous fund-raising time of less than a year, continue to use these financing methods will be limited. At this point the use of convertible bond financing to avoid the law. In addition, the form of convertible bonds a variety of distribution companies in accordance with the needs of investors and companies choose their own different way of convertible bond financing.
Two, convertible bond investment performance analysis
Convertible bonds of investment performance can be reflected through the investment income. Investment units in the operational effectiveness of the circumstances must, at the same time to obtain higher return on investment, better investment performance. FeiDa is to invest in the above analysis shows the company as an example. To simplify the analysis process, ignores the impact of personal income tax, and assuming that investors in the Convertible Notes after the expiration of the period to the transfer of ownership does not.
1. When issued in good company when the share prices will rise even more than the price Convertible, Convertible are favorable at this time, investors will transfer some or all of the exercise of options. Must be noted that the investors receive shares of Convertible is not the same as premium income when the stock market in the Convertible Convertible prices and bad, because after the Convertible bring the equity share capital increase will lead to dilution effects of stock price declines, thereby share premium will offset some of the proceeds.
Example bid on, set the price for the Convertible at P0, all Convertible Notes may convert the price after the P1, based on the principle of no-arbitrage equilibrium, there is: P1 = (9 000P0 +1 000 × 10) ÷ (9 000 +1 000) = 1 +0.9 P0.
The assumption that investors in convertible bonds before maturity Convertible, then:
A 5-year convertible bonds amounted to earnings: R1 = 1 000 × 1.5% × 5 + (1 +0.9 P0-10) × (1 000 ÷ 10); a general 5-year revenue bond amount: R2 = 1 000 × 3% × 5 = 150 (million).
So that R1 = R2, can be obtained for receipts of non-point: P0 = 10.83 (RMB / share). It is clear that only in the stock market value of more than 10.83 yuan / exercise-to-equity shares, convertible bonds before the investment performance is superior to the general bond investments. If bond investors select a certain time before the expiration of the Convertible, analysis of its investment performance, the need to consider the dividend increase and loss of revenue bonds the difference between the interest income. Therefore, this case of convertible bonds are usually poor investment performance of investment in common stock.
2. When the issue of poor business, the company's share price changes can be difficult to break through the conversion of the Convertible Bond Price, Convertible usually ended in failure, but basically the principal and interest of bonds or guaranteed. If there fell back to the agreed conditions of sale, investors usually buy back the right to exercise.
Example for on, at the first n-based investors to sell in the exercise of the right, then:
N 1 convertible bonds amounted to years of income: R3 = 1 000 × [5% +1.5% × (n-1)]; a general revenue bond amount n years: R4 = 1 000 × 3% × n.
So that R3 = R4, non-point gains obtained: n = 2.33 (year). In other words, if the conditions to the sale of time shorter than 233 years, the convertible bond investment performance is superior to the general bond investment; if the conditions to the sale of time longer than 2.33 years, or even has not been the emergence of the exercise should not Back to the sale of rights, convertible bonds may be poor investment performance bonds in general. Therefore, this case of convertible bond investment performance is usually better than the common stock investment.
3. When the deterioration of operating conditions of the issuing company, which e to insolvency and bankruptcy, the company's shareholder value is zero, to lose everything invested. At this point, the principal amount of convertible bonds and bonds in general, can only get partial reimbursement, and other living in order to repay the secured creditor's rights after the mortgage, bankruptcy pre-interest income is also lower than the general bond. Therefore, this case of convertible bond investment performance is superior to common stock investments in bad bond investments in general.
This shows that investors select the following principles should be based on convertible bonds: ① issued the company's operating performance despite a certain degree of volatility, but more optimistic about the prospects. Such as the issuance of the company's operating performance has been increasing steadily, should be directly invested in stocks; such as the operation of the issuing company are pessimistic about the prospects, should invest in bonds in general. ② convertible bond interest rates and bond interest rates in general should not differ too much, otherwise, too much loss of interest income to pay the high cost of the options. ③ with the terms of a premium to the sale, when the company's share price fell a serious issue, they can rece the loss of investors. ④ the issuing company a higher credit rating, at least "Baa" level and above, because the safety of convertible bonds is lower than the level of protection secured mortgage debt.
Ⅳ 什麼是財會術語表
財會術語表 A Accelerated methods of depreciation 加速折舊法 Accounting equation 會計等式 Accounting period 會計期間 Accounts payable 應付賬款 Accounts payable turnover 應付賬款周轉 Accounts receivable 應收賬款 Accounts receivable turnover 應收賬款周轉 Accrual accounting 權責發生制會計 Accruals 應計項目 Accrued payables 應付款項 Accumulated depreciation 累計折舊 Activity method 作業方法 Activity ratios 作業比率 Actuary 精算師,精算 Additional paid-in capital 資本公積 Aging schele 賬齡分析表 Allowance method 備抵法 Amortization 攤銷 Analytic review 分析性復核 Annual report 年報 Annuity 年金 Appropriation of retained earnings 留存收益分配 Asset 資產 Asset depreciation range (ADR) 資產折舊范圍 Asset impairment 資產清理 Asset retirement 資產報廢 Asset turnover 資產周轉率 Audit 審計 Audit committee 審計委員會 Audit opinion 審計意見 Audit report 審計報告 Authorized shares 授權股本，注冊股份 Available-for-sale securities 短期投資 B Bad debts 壞賬 Balance sheet 資產負債表 Bank reconciliation 銀行對賬單 Basic earnings per share 基本每股盈利 Betterment 改良 "Big 5"五大會計師事務所 board of directors 董事會 bond 債券契約 bonds payable 應付債券 book gain/loss 賬面收益/損失 book value 賬面價值 borrowing capacity 融資能力 business acquisition 企業兼並 business combination 企業合並 business segment 企業內部責任單位 C Call provision 提前贖回條款 Capital 資產 Capital lease 資本租賃 Capital structure 資本結構 Capital structure leverage 資本結構杠桿 Capitalization ratios 資本比率 Capitalize 資本化 Cash discount 現金折扣 Cash equivalent 現金等價物 Cash flow 現金流 Cash flow accounting 現金流量法會計 Cash flow from financing 籌資產生的現金流量 Cash flow from investing 投資產生的現金流量 Cash flow from operations 經營產生的現金流量 Cash flow projection 現金項目 Cash management 現金管理 Certificate of deposit 存款單 Certified public accountant 注冊會計師 Classified balance sheet 分類資產負債閉 Clean audit opinion 無保留意見 Collateral 抵押品， 擔保品 Collection period 商業票據 Common earnings leverage 普通收入杠桿 Common stock 普通股 Common-size financial statements Compensating balance 抵銷余額 Conservatism 穩健 Consignment 寄銷品 Consistency 連續性 Consolidated financial statements 合並財務報表 Contingency 或有事項 Contingent liability 或有負債 Contra account 對銷賬戶 Contributed capital 實繳資本 Controlling interest 控股權益 Convertible bonds 可轉換債券 Copyright 版權 Corporation 公司 Cost 成本 Cost expiration 成本耗用 Cost method 成本法 Cost of capital 資金成本 Cost of goods sold 銷貨成本 Covenant 契約 CPA certified public accountant 注冊會計師 Credit quality 信用程度 Credit rating 信用評級 Credit terms 信用條件 Creditor 債權人 Cumulative preferred stock 累積優先股 Current assets 流動資產 Current cost 現行成本 Current liabilities 流動負債 Current maturity of long-term debts 即將到期的長期負債 Current ratio 流動比率 D Debenture 債券 Debt 債務 Debt covenant 債務契約 Debt investment 債權性投資 Debt ratio 負債比率 Debt redemptions 債務清償 Debt/equity ratio 負債/權益比率 Default 違約 Deferred cost 遞延成本 Deferred income 遞延收益 Deferred income taxes 遞延所得稅 Deferred revenue 遞延收入 Defined benefit pension plan 即定收益養老金方案 Defined contribution pension plan 即定供款養老金方案 Depletion 折耗 Depreciation 折舊 Depreciation base 折舊系數 Depreciation expense 折舊費用 Diluted earnings per share 攤薄後每股盈利 Dilution 攤薄 Dilutive securities 攤薄證券 Direct method 直線法 Direct write-off method 直接注銷法 Discount on bond payable 應付債券折價 Discount rate 貼現率，折扣率 Divestiture 風險 Dividend yield 股息率 Dividends 股息 Dividends in arrears 應付股利 Double taxation 雙重征稅 Double-declining-balance method 雙倍余額遞減法 DuPont Model 杜邦體系 E Earning power 盈利能力 Earnings 盈利 Earnings per share 每股利潤 Earning quality 收益質量 Economic entity assumption 經濟個體假定 Economic value added 經濟價值增加 Effective interest method 實際利息法 Effective interest rate 實際利率 Equity 所有者權益 Equity investment 權益投資 Equity issuance 發行股票 Equity method 權益法 Equity security 股本證券 Escrow 代管 Exchange rate 匯率 Expense 費用 External financing 外部融資 Extraordinary item 非經常項目 F Face value 面值 Fair market value 公允市價 Financial accounting 財務會計 Financial accounting standards 財務會計 Financial Accounting Standards Board 財務會計標准委員會 Financial condition 財務狀況 Financial flexibility 財務彈性 Financial performance 財務業績 Financial ratio analysis 財務比率分析 Financial statement analysis 財務報表分析 Financial statements 財務報表 Financing activities 融資活動 First-in, first-out 先進先出法 Fiscal period assumption 會計期假設 Fiscal year 會計年度 Fixed asset turnover 固定資產周轉 Fixed assets 固定資產 FOB destination 離岸貨價 FOB shipping point 起運點交貨 Footnotes 附註 Forward contract 期貨合同 Freight-in 運費已付 Frequent transactions 經常性交易 G Gain contingency 或有收益 Generally accepted accounting principles一般會計原則 Going concern 持續經營 Goods in transit 在途商品 Goodwill 商譽 Government accounting 政府會計 Gross margin 毛利，邊際貢獻 Gross profit 毛利 H Hedging 套期保值 Hidden reserves 秘密准備 Historical cost 歷史成本 Human capital 人力資源 Human resources 人力資源 Hurdle rate 利率下限 Hybrid security 混合證券 I Income 收益 Income statement 損益表 Independent auditor 獨立審計 Indirect method 間接法 Instry 行業 Inflation 通貨膨脹 Input market 投入市場 Installment obligation 分期付款 Intangible asset 無形資產 Interest 利息 Interest coverage ratio 利息保障比率 Interest-bearing obligation 附息債務 Internal control system 內部控制系統 Internal financing 內部籌資 Internal Revenue Code 國內稅收法規 Internal Revenue Service 國內稅收總署 Interperiod tax allocation 跨期稅款分攤 Intraperiod tax allocation 所得稅期內分攤 Inventory 存貨 Inventory turnover 存貨周轉 Investing activities 投資活動 L Land 土地，不動產 Last-in, first-out 後進先出 Lease 租賃 Leverage 杠桿效應 Liability 負債 Life of a bond 年金期間 LIFO conformity rule 後進先出法一致性規則 LIFO liquidation 後進先出法清算 LIFO reserve 後進先出法准備 Line of credit 信用限額 Liquidation 清算 Liquidity 流動性 Listed company 上市公司 Loan contract 貸款合同 Loan covenant 貸款契約 Long-lived assets 長期資產 Long-term loan 長期負債 Long-term debt ratio 長期債務率 Long-term investments 長期投資 Loss 虧損 Loss contingency 或有損失 Lower-of-cost-or-market rule 成本與市價孰低原則 M MACRS 加速成本回收法修正系統 Maintenance expenditure 維修費用 Management accounting 管理會計 Management discretion 管理決策 Management letter 管理建議書 Manufacturing company 製造公司 Margin 毛利 Mark-to-market accounting 按市場計價法會計 Markdown 減低標價 Market price 市場價格 Market share 市場份額 Market value 市價 Market-to-book ratio 市價與賬面值比率 Marketable securities 有價證券 Matching principle 配比原則 Materiality 重要性 Maturity date 到期日 Maturity value 到期值 Measurement theory 計量理論 Merchandise inventory 商品盤存 Merger 合並 Mortgage 抵押，按揭 Mortgage payable 應付抵押款 Multinational corporation 跨國公司 N Natural resource cost 自然資源成本 Net assets 凈資產 Net book value 凈賬面價值 Net credit sales 凈賒銷值 Net earnings 凈收益 Net income 凈收益 Net of tax 稅後凈額 Net operation income 凈營業收入 Net profit 凈收益 Net realizable value 可實現凈值 Net sales 銷售凈額 Net worth 資本凈值 nonoperating items 營業外項目 nonparticipating preferred stock 非參加優先股 nonprofit entity 非盈利實體 not-for-profit accounting 非盈利賬戶 notes payable 應付票據 notes receivable 應收票據 O Obsolescence 過時，陳舊 Off-balance-sheet financing 資產負債表外融資 Open account 未清賬戶 Operating activities 經營活動 Operating cycle 營業周期 Operating days 營業日 Operating expenses 營業費用 Operating income 營業收益 Operating lease 經營租賃 Operating margin 營業毛利 Operating performance 經營業績 Operating revenues 營業收入 Opinion letter 審計報告 Ordinary stock dividend 普通股股利 Organizational forms 組織形式 Original cost 原始成本 Other gains and losses 其它收益和虧損 Other revenues and expenses 其它收益和虧損 Output market 輸出市場 Outstanding shares 發行在外的股份 Overhead 管理費用 Owner\'s equity 所有者權益 P Paper profits 賬面利潤 Per value 面值 Parent company 母公司 Participating preferred stock 參與優先股 Partnership 合夥 Patent 專利 Payments in advance 預付款 Pension 養老金 Percentage-of-credit-sales approach 賒銷百分比法 Periodic method 定期法 Perpetual method 永續法 Physical obsolescence 實物陳舊 Portfolio 投資組合 Postacquisition expenditures 收購後費用 Postretirement costs 退休後成本 Preemptive right 優先股權 Premium on bonds payable應付債券溢價 Prepaid expenses 准備成本 Present value 現值 Price/earnings ratio 價格/收益比 Prime interest rate 優惠利率 Principal 本金當事人 Prior period adjustment 前期調整數 Private company 私人公司 Proceeds 收入 Proction capacity 生產能力 Proction efficiency 生產效率 Profit 利潤 Profit and loss statement 損益表 Profitability 獲利能力 Profitability ratios 獲利能力比率 Property 財產 Property, plan, and equipment 財產，車間和設備 Prospectus 招股說明書 Proxy statement 委託書 Public accounting firms 會計師事務所 Purchase method 購買法 Purchasing power 購買力 Q Qualified audit report 有保留意見的審計報告 Quick ratio 速動比率 R Rate of return 回報率 Realized gain or loss 已實現收益或損失 Recognized gain or loss 確認收益或損失 Redemption 贖回 Refinancing 再籌資 Related party transaction 關聯交易 Replacement cost 重置成本 Restrictive covenant 約束性規定 Restructuring charges 重組成本 Retail company 零售公司 Retained earnings 留存收益 Retirement 退休，退股 Return on assets 資產報酬率 Return on equity 凈資產收益率 Return on equity from financial leverage 融資杠桿凈資產收益率 Return on investment 投資回報率 Return on sales 銷售利潤率 Revaluation adjustment 重估調整 Revenue 收入 Revenue recognition 收入確認 Risk 風險 Risk premium 風險報酬 Risk-free return 無風險回報 S Sales 銷售 Sales growth 銷售增長 Sales returns 銷售退回 Salvage value 殘值 Secured note 有擔保票據 Securities and Exchange Commission 證券及期貨事務監察委員會 Security 證券 Service company 服務公司 Service revenue 服務收益 SG & A 銷售，一般和行政花費 short-term liability 短期負債 Short-term investment 短期投資 Sole proprietorship 獨資經營 Solvency 償債能力 Solvency ratios 償債比率 Specific identification 個體辨認 Standard audit report 標准審計報告 Stated interest rate 票面利率 Statement of cash flows 現金流量表 Statement of retained earning 留存收益表 Statement of stockholder\'s equity 股東權益表 Stock 股票 Stock dividend 股利 Stock market 股票市場 Stock opinions 股票價格 Stock split 股份拆細 Stock split in the form of a dividend 股票股利的股票拆分 Stockholders 股東 Stockholders\' equity 股東權益 Straight-line method 直線法 Subsidiary 子公司 Sum-of-the-years\'-digits method 年數總和法 Supplies inventory 物料盤存 T T-account analysis T形賬戶分析法 Takeover 收購 Taking a bath 沖銷 Tax accounting 稅務會計 Tax dectible 稅款抵扣 Taxable income 應稅收入 Technical default 技術性違約 Technical obsolescence 技術陳舊 Term loan 定期貸款 Times interest earned 利息保障倍數 Trade-in 以舊換新 Trademark or trade name 商號 Trading securities 交易證券 Transportation-in 在途運輸 Treasury notes 中期國庫券 Treasury stock 庫存股票 U Uncollectibles 壞賬 Unearned revenue 未獲收入 Uniformity 統一 Unqualified audit report 在編審計報告 Unrealized gain or loss 未實現收入或損失 Unsecured notes 無擔保票據 Useful life 使用年限 Usual transactions 普通交易 V Valuation base 計價基礎 W Warranty 認股權證 Window dressing 粉飾 Working capital 營運資金，周轉資金
Ⅳ 熱門單詞：「綠色債券」用英文怎麼說
綠色債券
green bond;green bonds
綠色債券的收益將通過一個專門的「綠色賬戶」來使用。
A special "green account" will be used for proceeds from green bonds.
為了鼓勵大家積極參與，世界銀行在介紹綠色項目時都會對綠色債券做個推廣。
To encourage this, the World Bank briefs them on its green projects.
Ⅵ 請教關於CDO
擔保債務憑證(Collateralized Debt Obligation，簡稱CDO)，資產證券化家族中重要的組成部分。它的標的資產通常是信貸資產或債券。這也就衍生出了它按資產分類的重要的兩個分支：CLO(Collateralised Loan Obligation)和CBO(Collateralised Bond Obligation)。前者指的是信貸資產的證券化，後者指的是市場流通債券的再證券化。但是它們都統稱為CDO。
擔保債務憑證(Collateralized Debt Obligation, CDO)是一種固定收益證券，現金流量之可預測性較高，不僅提供投資人多元的投資管道以及增加投資收益，更強化了金融機構之資金運用效率，移轉不確定風險。凡具有現金流量的資產，都可以作為證券化的標的。通常創始銀行將擁有現金流量的資產匯集群組，然後作資產包裝及分割，轉給特殊目的公司（SPV），以私募或公開發行方式賣出固定收益證券或受益憑證。CDO背後的為一些債務工具，如高收益的債券、新興市場公司債或國家債券、銀行貸款或其它次順位證券。傳統的ABS其資產池可能為信用卡應收帳款、現金卡應收帳款、租賃租金、汽車貸款債權等，而CDO背後的支撐則是一些債務工具， 如高收益的債券( high - yield bonds)、新興市場公司債或國家債券(Emerging Market Corporate Debt、Sovereign)，亦可包含傳統的ABS（Assets Backed Securities）、住宅抵押貸款證券化(Residential Mortgage-Backed Securities, RMBS)及商用不動產抵押貸款證券化( Commercial Mortgage-Backed Securities, CMBS)等資產證券化商品。
【CDO的結構】
CDO的發行系以不同信用質量區分各系列證券。基本上，分為高級(Senior)、夾層(Mezzanine)，和低級/ 次順位( Junior /Subordinated)三系列；另外尚有一個不公開發行的系列，多為發行者自行買回，相當於用此部分的信用支撐其它系列的信用，具有權益性質，故又稱為權益性證券(Equity Tranche)，當有損失發生時，由股本系列首先吸收，然後依次由低級、中級(通常信評為B水平)高級系列(常信評為A水平)承擔(不過在許多文獻及實例中，將次順位債券稱為股本系列，亦即認為CDO結構分為高級、中級及股本系列)。換言之，CDO對信用加強系藉助證券結構設計達成，不像一般ABS較常利用外部信用加強機制增加證券的安全性。次順位、中級及高級系列亦可再依利率分割為小系列，例如，固定利率與浮動利率之別、零息與附息之分等等，以適合不同投資人的口味。各系列金額的決定需視所要達到的評等及最小籌資成本兩大因素決定。通常，高級系列占整體最大的比率，中級系列約為5%∼15%，股本系列佔2%∼15%。下圖為目前市場中常見的CDO證券結構。
【CDO歷史】
最早的CDO是由Drexel Burnham Lambert I在1987年發行的。十幾年後，CDO成為快速發展的資產證券之一。CDO快速的增長是收到眾多理財經理，基金經理，保險公司，投資銀行，退休基金的親睞。最關鍵的是，2001年 David X. Li介紹了Gaussian copula models，提供給CDO快速的定價方式，使CDO能夠廣泛的在市場流通。根據Securities Instry and Financial Markets Association，2004年CDO總共發行1570億美元，2005年—2720億，2006年5520億，2007年5030億。
以美國為首的國際證券化市場發展已久，而且商品種類多樣化，其中，CDO是近年來成長極為迅速的證券化商品之一。國際金融資產證券化市場始於1970年代，商品種類多樣化，其中擔保債務憑證（Collateralized Debt Obligation，CDO）是近來快速成長的證券化商品。2004年全球的總發行量為9,025億美金，至2005年全球總發行量為6,650億美金。在歐洲地區，該市場已經發展十分成熟；而亞洲地區的日本，CDO市場亦從2000年幾乎為零的發行量，成長至2004年的3兆餘日圓，發展速度相當驚人。由於CDO的利率通常較定存或是一般公債來得高，在現今的微利時代，已成為國際間相當熱門的投資商品。預料擔保債務憑證市場將會在未來金融領域里，佔有重要的一席之地。
Ⅶ 求中文翻譯！是關於電影證券化的。所以有一些專業術語。急啊！！
工作室授予SPV抵押貸款的權利,包括分配協議和由分配所引起的總收益票據。
銀行贊助這些計劃使用一個銀行管理的表外交易工具管道(屬於無關的第三方投資者)來開出高等級商業票據。商業票據的收入將被用於該管道以貸款給SPVY以及從電影現金收入中得到支付的權利。貸款擔保為SPV的所有資產,包括電影權利和SPV據SPV和工作室的分配協議對總利潤的分配權。在SPV貸款中，銀行可提供一定額度的違約損失保護,也可以獲得保證人額外足夠數量的債券，以提供足夠的保護給商業票據後的流動銀行及商業票據的投資者。
Ⅷ 債券型基金英語文獻(急)
以國債、金融債等固定收益類金融工具為主要投資對象的基金稱為債券型基金，因為其投資的產品收益比較穩定，又被稱為「固定受益基金」。根據投資股票的比例不同，債券型基金又可分為純債券型基金與偏債劵型基金。兩者的區別在於，純債型基金不投資股票，而偏債型基金可以投資少量的股票。偏債型基金的優點在於可以根據股票市場走勢靈活地進行資產配置，在控制風險的條件下分享股票市場帶來的機會。
一般來說，債券型基金不收取認購或申購的費用，贖回費率也較低。
債券基金有以下特點：
（一）低風險，低收益。由於債券型基金的投資對象——債券收益穩定、風險也較小，所以，債券型基金風險較小，但是同時由於債券是固定收益產品，因此相對於股票基金，債券基金風險低但回報率也不高。
（二）費用較低。由於債券投資管理不如股票投資管理復雜，因此債券基金的管理費也相對較低，目前我國債券型基金的
（三）收益穩定。投資於債券定期都有利息回報，到期還承諾還本付息，因此債券基金的收益較為穩定。
（四）注重當期收益。債券基金主要追求當期較為固定的收入，相對於股票基金而言缺乏增值的潛力，較適合於不願過多冒險，謀求當期穩定收益的投資者。
To treasury bonds, financial bonds and other fixed-income instruments such as the main investment fund known as bond funds, investment procts because of their relatively stable earnings, also known as the "fixed benefit fund." According to the proportion of different stock investments, bond funds can be divided into pure bond funds and partial Bonds Fund. The difference between the two, not pure debt funds in the stock market, and partial debt funds can invest in a small number of stocks. Partial debt funds in accordance with the advantage of the stock market movements can be flexibility to asset allocation, risk control conditions to share the opportunities offered by the stock market.
In general, bond funds do not charge subscription or purchase, the cost of the redemption rates are lower.
Bond Fund has the following characteristics:
(A) low-risk, low income. As bond funds, the investment target - bond yields stable, the risks are also smaller, therefore, less risky bond funds, but because the bonds are fixed-income procts, relative to equity funds, bond funds low-risk but not the rate of return high.
(2) lower cost. As bond investment management managing complex than equity investments, bond fund management fees are relatively low, our country's bond funds
(C) income stability. Invest in regular bonds have interest returns, e also committed to debt service, and therefore the bond proceeds fund more stable.
(D) focus on current income. ABF mainly seeking more current fixed income, compared to equity funds in terms of the lack of value-added potential, in not too much more suitable for adventure, the current stability of income for investors.
Ⅸ 債券相關的英語詞彙，關於股票的英語單詞有哪些
bond, debenture, debts債券
negotiable share可流通股份
convertible bond可轉換債券
treasury/government bond國庫券/政府債券
corporate bond企業債券
closed-end securities investment fund 封閉式證券投資基金
open-end securities investment fund 開放式證券投資基金
fund manager基金經理/管理公司
fund custodian bank 基金託管銀行
market capitalization 市值
p/e ratio 市盈率(price/earning)
mark-to-market逐日盯市
payment versus delivery 銀券交付
clearing and settlement 清算/結算
commodity/financial derivatives 商品/金融衍生產品
put / call option 看跌/看漲期權
margins, collateral 保證金
rights issue/offering 配股
bonus share 紅股
dividend紅利/股息
ADR美國存托憑證/存股證(American Depository Receipt)
GDR全球存托憑證/存股證(Global Depository Receipt)
retail/private investor 個人投資者/散戶
institutional investor機構投資者
broker/dealer 券商
proprietary trading 自營
insider trading/dealing 內幕交易
market manipulation 市場操縱
prospectus招股說明書
IPO 新股/初始公開發行(Initial Public Offering)
merger and acquisition收購兼並
All Ordinaries Index （澳大利亞）股市指數
Amex(American Stock Exchange) 美國股票交易所
amortize 攤提，分期償還債務
annuity 年金享受權
asking price 賣主的開叫價
assess 對（財產等）進行估價，確定（款項）的金額
back 拖欠的
bad loan 呆賬，壞賬
lout 幫助……擺脫困境
balloon （分期付款中）最後數目特大的一筆
barometer 晴雨表，[喻]標記，指標
basis point 基點（一個百分點的百分之一）
bear markets 熊市
blue-chip （股票等）熱門的，（在同行中）最賺錢的
forex foreign exchange
bond 債券，公債
bourse 交易所，證券交易所
bull markets 牛市
bullish 牛市的
bunji-change 快速的大幅度變化
CAC-40 Index （法國）股市指數
CD(certificate-of-deposit) 大額存款單
Chicago Mercantile Exchange 芝加哥商業交易所
Consumer Price Index 消費者價格指數
contagion 蔓延
correction 調整
coupon rate 券根利率
CTA(Commodities Trading Advisor) 農礦產品交易顧問
Currency board 貨幣委員會
DAX index （法蘭克福）德國股市指數
dead loan 死帳
delist 從上市證券表中除名
derivatives 衍生金融商品（由利率或債券、外匯或匯率以及股票或股價指數等現貨市場衍生出來，主要有期貨futures、期權option trading與掉期swap三種類型，品種多達100餘種，股票與證券行業英語詞彙。）
discount 貼現
discount rate 貼現率
DJIA Dow-Jones Instrial Average 道•瓊斯公用事業股價平均數，英語詞彙《股票與證券行業英語詞彙》(http://m.unjs.com)。通常簡稱Dow（道），是30個主要工業公司股票價格的組合。
Dow-Jones Composite Average of 65 representative stocks 65種有代表性的股票的道•瓊斯公用事業股價平均數
Dow-Jones Transpositions Average 道•瓊斯運輸業股價平均數
Dow-Jones Utilities Average 道•瓊斯公用事業股價平均數
down 付現款
equity （押款金額以外的）財產價值，證券，股票
escrow 由第三者保存、等條件完成後即交受讓人的契據（或證書等）
face value 面值
Federal Agency Issues 聯邦機構債券
fluctuation 起伏
fluctuate 起伏
fraud 欺騙，欺詐
fraulence 欺騙（欺詐）行為
fraulent 欺詐的
FTSI Financial Times 100 Share Index （英國）金融時報100種股票指數
good 有效的
Hang Seng Index （香港）恆生指數
holdings 佔有的財產，股票
Ibbotson Small Company Index Ibbotson Company Index中包括近2700家公司：即在紐約股市上交易的最後的20%股票
imburse 賠償
initial share 原始股
IRA Indivial Retirement Account 個人退休賬號
junk bond 假債券
junk bonds 垃圾債券
lien 扣押權，留置權
liquidate 清算，破產
list （交易所）上市證券；把（證券）列人上市證券表
long position 多頭
margin 差額，保險金
mutual fund 公共基金
NASD=National Association of Securities Dealers 全美證券交易者協會
NASDAQ (National Association of Securities Dealers Automated Quotations) 納斯達克（全美證券交易者協會自動化摘要）
NAV (Net Asset Value) 凈資產值
new issue ( IPOInitial Public Offering)新上市股票
Nikkei Stock Aver age 日經股票平均指數
nosedive （價格等）暴跌
NYSE』Volume 紐約股票交易量
NYSE』s composite index 紐約股票交易綜合指數
NYSE(New York Stock Exchange) 紐約股票交易所(也稱或Big Board)
obligation 契約，債券
outstanding 拖欠的
par value 票面價值
plummet 驟然跌落
policy 保險單
pool 集合基金
portfolio 有價證券
preferred stock 優先股票
premium 獎金，傭金，擔保費
premium 溢價
proceeds 收入，收益
rally （股票價格等）止跌，上揚
rebound 反彈
recoup 償還，補償
recovery 恢復
red-chip share 紅籌股
refund 償還
rescue package 一攬子救援計劃
resilience 回彈，復原力
resilient 有回彈力的，恢復活力的
risk 保險項目
run 擠提存款,擠兌,爭購
Russell 2000 Russell 2000種小資本股票
S&P 500(Standard & Poor』s 500 Composite Stock Price Index) 標准普爾股價指數
SEC(Federal Securities and Exchange Commission) 聯邦證券與交易委員會
securities 證券，債券
shares （英）股票=（美）stock
shore up 支撐
slash （大幅度）削減（工資等）
slump 暴跌，不景氣
SMI index （蘇黎士市）瑞士股票指數
solvent 有償還能力的
speculate 投機
speculation 投機
speculator 投機者
T-Bill (Treasury Bill) 美國短期國債（每星期發行一次）
T-bond (Treasury Bond) 美國長期國債（期限為20年或30年）
T-note (Treasury Note) 美國中期國債（期限為2年到10年）
Technology-heavy Nasdaq 以技術為主的Nasdaq
Technology-laden Nasdaq 以技術為主的Nasdaq
term 年限
tech-heavy NASDAQ 以技術股票為主的NASDAQ
technology-rich stocks 技術股票
technology-weighted index (NASDAQ) 反映技術股票的指數(NASDAQ)
希望能幫助到你，望採納！！！