Ⅰ 协议翻译最后两段，谢谢～
八月七日. 杠杆比率. 该公司将不允许比例,截至最后一天造成财政季度,该公司 (一)总和长期债券支付债务和当前部分加长期债务, 截至日期等,(二)ebitda为连续四个季度终了财政等日期, 要大于3.50比1. 8月8日. 使用收益. 该公司将利用所得的贷款用途包括商业企业一般以下文件备份(符合所有适用法律及监管规定, 包括但不限 U和X和证券法规的行为,以及1933年和1934年证券法的规定均); 只要不是银行的业务代理,也不得有任何责任,至于使用任何这类收益.
ebitda不知是什么？
以国债、金融债等固定收益类金融工具为主要投资对象的基金称为债券型基金，因为其投资的产品收益比较稳定，又被称为“固定受益基金”。根据投资股票的比例不同，债券型基金又可分为纯债券型基金与偏债劵型基金。两者的区别在于，纯债型基金不投资股票，而偏债型基金可以投资少量的股票。偏债型基金的优点在于可以根据股票市场走势灵活地进行资产配置，在控制风险的条件下分享股票市场带来的机会。
一般来说，债券型基金不收取认购或申购的费用，赎回费率也较低。
债券基金有以下特点：
（一）低风险，低收益。由于债券型基金的投资对象——债券收益稳定、风险也较小，所以，债券型基金风险较小，但是同时由于债券是固定收益产品，因此相对于股票基金，债券基金风险低但回报率也不高。
（二）费用较低。由于债券投资管理不如股票投资管理复杂，因此债券基金的管理费也相对较低，目前我国债券型基金的
（三）收益稳定。投资于债券定期都有利息回报，到期还承诺还本付息，因此债券基金的收益较为稳定。
（四）注重当期收益。债券基金主要追求当期较为固定的收入，相对于股票基金而言缺乏增值的潜力，较适合于不愿过多冒险，谋求当期稳定收益的投资者。
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 哪个好心人能帮忙找一篇英文论文关于“可转换债券”方面的。如果随有翻译成中文的就更加谢谢了了
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 什么是财会术语表
财会术语表 A Accelerated methods of depreciation 加速折旧法 Accounting equation 会计等式 Accounting period 会计期间 Accounts payable 应付账款 Accounts payable turnover 应付账款周转 Accounts receivable 应收账款 Accounts receivable turnover 应收账款周转 Accrual accounting 权责发生制会计 Accruals 应计项目 Accrued payables 应付款项 Accumulated depreciation 累计折旧 Activity method 作业方法 Activity ratios 作业比率 Actuary 精算师,精算 Additional paid-in capital 资本公积 Aging schele 账龄分析表 Allowance method 备抵法 Amortization 摊销 Analytic review 分析性复核 Annual report 年报 Annuity 年金 Appropriation of retained earnings 留存收益分配 Asset 资产 Asset depreciation range (ADR) 资产折旧范围 Asset impairment 资产清理 Asset retirement 资产报废 Asset turnover 资产周转率 Audit 审计 Audit committee 审计委员会 Audit opinion 审计意见 Audit report 审计报告 Authorized shares 授权股本，注册股份 Available-for-sale securities 短期投资 B Bad debts 坏账 Balance sheet 资产负债表 Bank reconciliation 银行对账单 Basic earnings per share 基本每股盈利 Betterment 改良 "Big 5"五大会计师事务所 board of directors 董事会 bond 债券契约 bonds payable 应付债券 book gain/loss 账面收益/损失 book value 账面价值 borrowing capacity 融资能力 business acquisition 企业兼并 business combination 企业合并 business segment 企业内部责任单位 C Call provision 提前赎回条款 Capital 资产 Capital lease 资本租赁 Capital structure 资本结构 Capital structure leverage 资本结构杠杆 Capitalization ratios 资本比率 Capitalize 资本化 Cash discount 现金折扣 Cash equivalent 现金等价物 Cash flow 现金流 Cash flow accounting 现金流量法会计 Cash flow from financing 筹资产生的现金流量 Cash flow from investing 投资产生的现金流量 Cash flow from operations 经营产生的现金流量 Cash flow projection 现金项目 Cash management 现金管理 Certificate of deposit 存款单 Certified public accountant 注册会计师 Classified balance sheet 分类资产负债闭 Clean audit opinion 无保留意见 Collateral 抵押品， 担保品 Collection period 商业票据 Common earnings leverage 普通收入杠杆 Common stock 普通股 Common-size financial statements Compensating balance 抵销余额 Conservatism 稳健 Consignment 寄销品 Consistency 连续性 Consolidated financial statements 合并财务报表 Contingency 或有事项 Contingent liability 或有负债 Contra account 对销账户 Contributed capital 实缴资本 Controlling interest 控股权益 Convertible bonds 可转换债券 Copyright 版权 Corporation 公司 Cost 成本 Cost expiration 成本耗用 Cost method 成本法 Cost of capital 资金成本 Cost of goods sold 销货成本 Covenant 契约 CPA certified public accountant 注册会计师 Credit quality 信用程度 Credit rating 信用评级 Credit terms 信用条件 Creditor 债权人 Cumulative preferred stock 累积优先股 Current assets 流动资产 Current cost 现行成本 Current liabilities 流动负债 Current maturity of long-term debts 即将到期的长期负债 Current ratio 流动比率 D Debenture 债券 Debt 债务 Debt covenant 债务契约 Debt investment 债权性投资 Debt ratio 负债比率 Debt redemptions 债务清偿 Debt/equity ratio 负债/权益比率 Default 违约 Deferred cost 递延成本 Deferred income 递延收益 Deferred income taxes 递延所得税 Deferred revenue 递延收入 Defined benefit pension plan 即定收益养老金方案 Defined contribution pension plan 即定供款养老金方案 Depletion 折耗 Depreciation 折旧 Depreciation base 折旧系数 Depreciation expense 折旧费用 Diluted earnings per share 摊薄后每股盈利 Dilution 摊薄 Dilutive securities 摊薄证券 Direct method 直线法 Direct write-off method 直接注销法 Discount on bond payable 应付债券折价 Discount rate 贴现率，折扣率 Divestiture 风险 Dividend yield 股息率 Dividends 股息 Dividends in arrears 应付股利 Double taxation 双重征税 Double-declining-balance method 双倍余额递减法 DuPont Model 杜邦体系 E Earning power 盈利能力 Earnings 盈利 Earnings per share 每股利润 Earning quality 收益质量 Economic entity assumption 经济个体假定 Economic value added 经济价值增加 Effective interest method 实际利息法 Effective interest rate 实际利率 Equity 所有者权益 Equity investment 权益投资 Equity issuance 发行股票 Equity method 权益法 Equity security 股本证券 Escrow 代管 Exchange rate 汇率 Expense 费用 External financing 外部融资 Extraordinary item 非经常项目 F Face value 面值 Fair market value 公允市价 Financial accounting 财务会计 Financial accounting standards 财务会计 Financial Accounting Standards Board 财务会计标准委员会 Financial condition 财务状况 Financial flexibility 财务弹性 Financial performance 财务业绩 Financial ratio analysis 财务比率分析 Financial statement analysis 财务报表分析 Financial statements 财务报表 Financing activities 融资活动 First-in, first-out 先进先出法 Fiscal period assumption 会计期假设 Fiscal year 会计年度 Fixed asset turnover 固定资产周转 Fixed assets 固定资产 FOB destination 离岸货价 FOB shipping point 起运点交货 Footnotes 附注 Forward contract 期货合同 Freight-in 运费已付 Frequent transactions 经常性交易 G Gain contingency 或有收益 Generally accepted accounting principles一般会计原则 Going concern 持续经营 Goods in transit 在途商品 Goodwill 商誉 Government accounting 政府会计 Gross margin 毛利，边际贡献 Gross profit 毛利 H Hedging 套期保值 Hidden reserves 秘密准备 Historical cost 历史成本 Human capital 人力资源 Human resources 人力资源 Hurdle rate 利率下限 Hybrid security 混合证券 I Income 收益 Income statement 损益表 Independent auditor 独立审计 Indirect method 间接法 Instry 行业 Inflation 通货膨胀 Input market 投入市场 Installment obligation 分期付款 Intangible asset 无形资产 Interest 利息 Interest coverage ratio 利息保障比率 Interest-bearing obligation 附息债务 Internal control system 内部控制系统 Internal financing 内部筹资 Internal Revenue Code 国内税收法规 Internal Revenue Service 国内税收总署 Interperiod tax allocation 跨期税款分摊 Intraperiod tax allocation 所得税期内分摊 Inventory 存货 Inventory turnover 存货周转 Investing activities 投资活动 L Land 土地，不动产 Last-in, first-out 后进先出 Lease 租赁 Leverage 杠杆效应 Liability 负债 Life of a bond 年金期间 LIFO conformity rule 后进先出法一致性规则 LIFO liquidation 后进先出法清算 LIFO reserve 后进先出法准备 Line of credit 信用限额 Liquidation 清算 Liquidity 流动性 Listed company 上市公司 Loan contract 贷款合同 Loan covenant 贷款契约 Long-lived assets 长期资产 Long-term loan 长期负债 Long-term debt ratio 长期债务率 Long-term investments 长期投资 Loss 亏损 Loss contingency 或有损失 Lower-of-cost-or-market rule 成本与市价孰低原则 M MACRS 加速成本回收法修正系统 Maintenance expenditure 维修费用 Management accounting 管理会计 Management discretion 管理决策 Management letter 管理建议书 Manufacturing company 制造公司 Margin 毛利 Mark-to-market accounting 按市场计价法会计 Markdown 减低标价 Market price 市场价格 Market share 市场份额 Market value 市价 Market-to-book ratio 市价与账面值比率 Marketable securities 有价证券 Matching principle 配比原则 Materiality 重要性 Maturity date 到期日 Maturity value 到期值 Measurement theory 计量理论 Merchandise inventory 商品盘存 Merger 合并 Mortgage 抵押，按揭 Mortgage payable 应付抵押款 Multinational corporation 跨国公司 N Natural resource cost 自然资源成本 Net assets 净资产 Net book value 净账面价值 Net credit sales 净赊销值 Net earnings 净收益 Net income 净收益 Net of tax 税后净额 Net operation income 净营业收入 Net profit 净收益 Net realizable value 可实现净值 Net sales 销售净额 Net worth 资本净值 nonoperating items 营业外项目 nonparticipating preferred stock 非参加优先股 nonprofit entity 非盈利实体 not-for-profit accounting 非盈利账户 notes payable 应付票据 notes receivable 应收票据 O Obsolescence 过时，陈旧 Off-balance-sheet financing 资产负债表外融资 Open account 未清账户 Operating activities 经营活动 Operating cycle 营业周期 Operating days 营业日 Operating expenses 营业费用 Operating income 营业收益 Operating lease 经营租赁 Operating margin 营业毛利 Operating performance 经营业绩 Operating revenues 营业收入 Opinion letter 审计报告 Ordinary stock dividend 普通股股利 Organizational forms 组织形式 Original cost 原始成本 Other gains and losses 其它收益和亏损 Other revenues and expenses 其它收益和亏损 Output market 输出市场 Outstanding shares 发行在外的股份 Overhead 管理费用 Owner\'s equity 所有者权益 P Paper profits 账面利润 Per value 面值 Parent company 母公司 Participating preferred stock 参与优先股 Partnership 合伙 Patent 专利 Payments in advance 预付款 Pension 养老金 Percentage-of-credit-sales approach 赊销百分比法 Periodic method 定期法 Perpetual method 永续法 Physical obsolescence 实物陈旧 Portfolio 投资组合 Postacquisition expenditures 收购后费用 Postretirement costs 退休后成本 Preemptive right 优先股权 Premium on bonds payable应付债券溢价 Prepaid expenses 准备成本 Present value 现值 Price/earnings ratio 价格/收益比 Prime interest rate 优惠利率 Principal 本金当事人 Prior period adjustment 前期调整数 Private company 私人公司 Proceeds 收入 Proction capacity 生产能力 Proction efficiency 生产效率 Profit 利润 Profit and loss statement 损益表 Profitability 获利能力 Profitability ratios 获利能力比率 Property 财产 Property, plan, and equipment 财产，车间和设备 Prospectus 招股说明书 Proxy statement 委托书 Public accounting firms 会计师事务所 Purchase method 购买法 Purchasing power 购买力 Q Qualified audit report 有保留意见的审计报告 Quick ratio 速动比率 R Rate of return 回报率 Realized gain or loss 已实现收益或损失 Recognized gain or loss 确认收益或损失 Redemption 赎回 Refinancing 再筹资 Related party transaction 关联交易 Replacement cost 重置成本 Restrictive covenant 约束性规定 Restructuring charges 重组成本 Retail company 零售公司 Retained earnings 留存收益 Retirement 退休，退股 Return on assets 资产报酬率 Return on equity 净资产收益率 Return on equity from financial leverage 融资杠杆净资产收益率 Return on investment 投资回报率 Return on sales 销售利润率 Revaluation adjustment 重估调整 Revenue 收入 Revenue recognition 收入确认 Risk 风险 Risk premium 风险报酬 Risk-free return 无风险回报 S Sales 销售 Sales growth 销售增长 Sales returns 销售退回 Salvage value 残值 Secured note 有担保票据 Securities and Exchange Commission 证券及期货事务监察委员会 Security 证券 Service company 服务公司 Service revenue 服务收益 SG & A 销售，一般和行政花费 short-term liability 短期负债 Short-term investment 短期投资 Sole proprietorship 独资经营 Solvency 偿债能力 Solvency ratios 偿债比率 Specific identification 个体辨认 Standard audit report 标准审计报告 Stated interest rate 票面利率 Statement of cash flows 现金流量表 Statement of retained earning 留存收益表 Statement of stockholder\'s equity 股东权益表 Stock 股票 Stock dividend 股利 Stock market 股票市场 Stock opinions 股票价格 Stock split 股份拆细 Stock split in the form of a dividend 股票股利的股票拆分 Stockholders 股东 Stockholders\' equity 股东权益 Straight-line method 直线法 Subsidiary 子公司 Sum-of-the-years\'-digits method 年数总和法 Supplies inventory 物料盘存 T T-account analysis T形账户分析法 Takeover 收购 Taking a bath 冲销 Tax accounting 税务会计 Tax dectible 税款抵扣 Taxable income 应税收入 Technical default 技术性违约 Technical obsolescence 技术陈旧 Term loan 定期贷款 Times interest earned 利息保障倍数 Trade-in 以旧换新 Trademark or trade name 商号 Trading securities 交易证券 Transportation-in 在途运输 Treasury notes 中期国库券 Treasury stock 库存股票 U Uncollectibles 坏账 Unearned revenue 未获收入 Uniformity 统一 Unqualified audit report 在编审计报告 Unrealized gain or loss 未实现收入或损失 Unsecured notes 无担保票据 Useful life 使用年限 Usual transactions 普通交易 V Valuation base 计价基础 W Warranty 认股权证 Window dressing 粉饰 Working capital 营运资金，周转资金
Ⅳ 热门单词：“绿色债券”用英文怎么说
绿色债券
green bond;green bonds
绿色债券的收益将通过一个专门的“绿色账户”来使用。
A special "green account" will be used for proceeds from green bonds.
为了鼓励大家积极参与，世界银行在介绍绿色项目时都会对绿色债券做个推广。
To encourage this, the World Bank briefs them on its green projects.
Ⅵ 请教关于CDO
担保债务凭证(Collateralized Debt Obligation，简称CDO)，资产证券化家族中重要的组成部分。它的标的资产通常是信贷资产或债券。这也就衍生出了它按资产分类的重要的两个分支：CLO(Collateralised Loan Obligation)和CBO(Collateralised Bond Obligation)。前者指的是信贷资产的证券化，后者指的是市场流通债券的再证券化。但是它们都统称为CDO。
担保债务凭证(Collateralized Debt Obligation, CDO)是一种固定收益证券，现金流量之可预测性较高，不仅提供投资人多元的投资管道以及增加投资收益，更强化了金融机构之资金运用效率，移转不确定风险。凡具有现金流量的资产，都可以作为证券化的标的。通常创始银行将拥有现金流量的资产汇集群组，然后作资产包装及分割，转给特殊目的公司（SPV），以私募或公开发行方式卖出固定收益证券或受益凭证。CDO背后的为一些债务工具，如高收益的债券、新兴市场公司债或国家债券、银行贷款或其它次顺位证券。传统的ABS其资产池可能为信用卡应收帐款、现金卡应收帐款、租赁租金、汽车贷款债权等，而CDO背后的支撑则是一些债务工具， 如高收益的债券( high - yield bonds)、新兴市场公司债或国家债券(Emerging Market Corporate Debt、Sovereign)，亦可包含传统的ABS（Assets Backed Securities）、住宅抵押贷款证券化(Residential Mortgage-Backed Securities, RMBS)及商用不动产抵押贷款证券化( Commercial Mortgage-Backed Securities, CMBS)等资产证券化商品。
【CDO的结构】
CDO的发行系以不同信用质量区分各系列证券。基本上，分为高级(Senior)、夹层(Mezzanine)，和低级/ 次顺位( Junior /Subordinated)三系列；另外尚有一个不公开发行的系列，多为发行者自行买回，相当于用此部分的信用支撑其它系列的信用，具有权益性质，故又称为权益性证券(Equity Tranche)，当有损失发生时，由股本系列首先吸收，然后依次由低级、中级(通常信评为B水平)高级系列(常信评为A水平)承担(不过在许多文献及实例中，将次顺位债券称为股本系列，亦即认为CDO结构分为高级、中级及股本系列)。换言之，CDO对信用加强系借助证券结构设计达成，不像一般ABS较常利用外部信用加强机制增加证券的安全性。次顺位、中级及高级系列亦可再依利率分割为小系列，例如，固定利率与浮动利率之别、零息与附息之分等等，以适合不同投资人的口味。各系列金额的决定需视所要达到的评等及最小筹资成本两大因素决定。通常，高级系列占整体最大的比率，中级系列约为5%∼15%，股本系列占2%∼15%。下图为目前市场中常见的CDO证券结构。
【CDO历史】
最早的CDO是由Drexel Burnham Lambert I在1987年发行的。十几年后，CDO成为快速发展的资产证券之一。CDO快速的增长是收到众多理财经理，基金经理，保险公司，投资银行，退休基金的亲睐。最关键的是，2001年 David X. Li介绍了Gaussian copula models，提供给CDO快速的定价方式，使CDO能够广泛的在市场流通。根据Securities Instry and Financial Markets Association，2004年CDO总共发行1570亿美元，2005年—2720亿，2006年5520亿，2007年5030亿。
以美国为首的国际证券化市场发展已久，而且商品种类多样化，其中，CDO是近年来成长极为迅速的证券化商品之一。国际金融资产证券化市场始于1970年代，商品种类多样化，其中担保债务凭证（Collateralized Debt Obligation，CDO）是近来快速成长的证券化商品。2004年全球的总发行量为9,025亿美金，至2005年全球总发行量为6,650亿美金。在欧洲地区，该市场已经发展十分成熟；而亚洲地区的日本，CDO市场亦从2000年几乎为零的发行量，成长至2004年的3兆余日圆，发展速度相当惊人。由于CDO的利率通常较定存或是一般公债来得高，在现今的微利时代，已成为国际间相当热门的投资商品。预料担保债务凭证市场将会在未来金融领域里，占有重要的一席之地。
Ⅶ 求中文翻译！是关于电影证券化的。所以有一些专业术语。急啊！！
工作室授予SPV抵押贷款的权利,包括分配协议和由分配所引起的总收益票据。
银行赞助这些计划使用一个银行管理的表外交易工具管道(属于无关的第三方投资者)来开出高等级商业票据。商业票据的收入将被用于该管道以贷款给SPVY以及从电影现金收入中得到支付的权利。贷款担保为SPV的所有资产,包括电影权利和SPV据SPV和工作室的分配协议对总利润的分配权。在SPV贷款中，银行可提供一定额度的违约损失保护,也可以获得保证人额外足够数量的债券，以提供足够的保护给商业票据后的流动银行及商业票据的投资者。
Ⅷ 债券型基金英语文献(急)
以国债、金融债等固定收益类金融工具为主要投资对象的基金称为债券型基金，因为其投资的产品收益比较稳定，又被称为“固定受益基金”。根据投资股票的比例不同，债券型基金又可分为纯债券型基金与偏债劵型基金。两者的区别在于，纯债型基金不投资股票，而偏债型基金可以投资少量的股票。偏债型基金的优点在于可以根据股票市场走势灵活地进行资产配置，在控制风险的条件下分享股票市场带来的机会。
一般来说，债券型基金不收取认购或申购的费用，赎回费率也较低。
债券基金有以下特点：
（一）低风险，低收益。由于债券型基金的投资对象——债券收益稳定、风险也较小，所以，债券型基金风险较小，但是同时由于债券是固定收益产品，因此相对于股票基金，债券基金风险低但回报率也不高。
（二）费用较低。由于债券投资管理不如股票投资管理复杂，因此债券基金的管理费也相对较低，目前我国债券型基金的
（三）收益稳定。投资于债券定期都有利息回报，到期还承诺还本付息，因此债券基金的收益较为稳定。
（四）注重当期收益。债券基金主要追求当期较为固定的收入，相对于股票基金而言缺乏增值的潜力，较适合于不愿过多冒险，谋求当期稳定收益的投资者。
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 债券相关的英语词汇，关于股票的英语单词有哪些
bond, debenture, debts债券
negotiable share可流通股份
convertible bond可转换债券
treasury/government bond国库券/政府债券
corporate bond企业债券
closed-end securities investment fund 封闭式证券投资基金
open-end securities investment fund 开放式证券投资基金
fund manager基金经理/管理公司
fund custodian bank 基金托管银行
market capitalization 市值
p/e ratio 市盈率(price/earning)
mark-to-market逐日盯市
payment versus delivery 银券交付
clearing and settlement 清算/结算
commodity/financial derivatives 商品/金融衍生产品
put / call option 看跌/看涨期权
margins, collateral 保证金
rights issue/offering 配股
bonus share 红股
dividend红利/股息
ADR美国存托凭证/存股证(American Depository Receipt)
GDR全球存托凭证/存股证(Global Depository Receipt)
retail/private investor 个人投资者/散户
institutional investor机构投资者
broker/dealer 券商
proprietary trading 自营
insider trading/dealing 内幕交易
market manipulation 市场操纵
prospectus招股说明书
IPO 新股/初始公开发行(Initial Public Offering)
merger and acquisition收购兼并
All Ordinaries Index （澳大利亚）股市指数
Amex(American Stock Exchange) 美国股票交易所
amortize 摊提，分期偿还债务
annuity 年金享受权
asking price 卖主的开叫价
assess 对（财产等）进行估价，确定（款项）的金额
back 拖欠的
bad loan 呆账，坏账
lout 帮助……摆脱困境
balloon （分期付款中）最后数目特大的一笔
barometer 晴雨表，[喻]标记，指标
basis point 基点（一个百分点的百分之一）
bear markets 熊市
blue-chip （股票等）热门的，（在同行中）最赚钱的
forex foreign exchange
bond 债券，公债
bourse 交易所，证券交易所
bull markets 牛市
bullish 牛市的
bunji-change 快速的大幅度变化
CAC-40 Index （法国）股市指数
CD(certificate-of-deposit) 大额存款单
Chicago Mercantile Exchange 芝加哥商业交易所
Consumer Price Index 消费者价格指数
contagion 蔓延
correction 调整
coupon rate 券根利率
CTA(Commodities Trading Advisor) 农矿产品交易顾问
Currency board 货币委员会
DAX index （法兰克福）德国股市指数
dead loan 死帐
delist 从上市证券表中除名
derivatives 衍生金融商品（由利率或债券、外汇或汇率以及股票或股价指数等现货市场衍生出来，主要有期货futures、期权option trading与掉期swap三种类型，品种多达100余种，股票与证券行业英语词汇。）
discount 贴现
discount rate 贴现率
DJIA Dow-Jones Instrial Average 道•琼斯公用事业股价平均数，英语词汇《股票与证券行业英语词汇》(http://m.unjs.com)。通常简称Dow（道），是30个主要工业公司股票价格的组合。
Dow-Jones Composite Average of 65 representative stocks 65种有代表性的股票的道•琼斯公用事业股价平均数
Dow-Jones Transpositions Average 道•琼斯运输业股价平均数
Dow-Jones Utilities Average 道•琼斯公用事业股价平均数
down 付现款
equity （押款金额以外的）财产价值，证券，股票
escrow 由第三者保存、等条件完成后即交受让人的契据（或证书等）
face value 面值
Federal Agency Issues 联邦机构债券
fluctuation 起伏
fluctuate 起伏
fraud 欺骗，欺诈
fraulence 欺骗（欺诈）行为
fraulent 欺诈的
FTSI Financial Times 100 Share Index （英国）金融时报100种股票指数
good 有效的
Hang Seng Index （香港）恒生指数
holdings 占有的财产，股票
Ibbotson Small Company Index Ibbotson Company Index中包括近2700家公司：即在纽约股市上交易的最后的20%股票
imburse 赔偿
initial share 原始股
IRA Indivial Retirement Account 个人退休账号
junk bond 假债券
junk bonds 垃圾债券
lien 扣押权，留置权
liquidate 清算，破产
list （交易所）上市证券；把（证券）列人上市证券表
long position 多头
margin 差额，保险金
mutual fund 公共基金
NASD=National Association of Securities Dealers 全美证券交易者协会
NASDAQ (National Association of Securities Dealers Automated Quotations) 纳斯达克（全美证券交易者协会自动化摘要）
NAV (Net Asset Value) 净资产值
new issue ( IPOInitial Public Offering)新上市股票
Nikkei Stock Aver age 日经股票平均指数
nosedive （价格等）暴跌
NYSE’Volume 纽约股票交易量
NYSE’s composite index 纽约股票交易综合指数
NYSE(New York Stock Exchange) 纽约股票交易所(也称或Big Board)
obligation 契约，债券
outstanding 拖欠的
par value 票面价值
plummet 骤然跌落
policy 保险单
pool 集合基金
portfolio 有价证券
preferred stock 优先股票
premium 奖金，佣金，担保费
premium 溢价
proceeds 收入，收益
rally （股票价格等）止跌，上扬
rebound 反弹
recoup 偿还，补偿
recovery 恢复
red-chip share 红筹股
refund 偿还
rescue package 一揽子救援计划
resilience 回弹，复原力
resilient 有回弹力的，恢复活力的
risk 保险项目
run 挤提存款,挤兑,争购
Russell 2000 Russell 2000种小资本股票
S&P 500(Standard & Poor’s 500 Composite Stock Price Index) 标准普尔股价指数
SEC(Federal Securities and Exchange Commission) 联邦证券与交易委员会
securities 证券，债券
shares （英）股票=（美）stock
shore up 支撑
slash （大幅度）削减（工资等）
slump 暴跌，不景气
SMI index （苏黎士市）瑞士股票指数
solvent 有偿还能力的
speculate 投机
speculation 投机
speculator 投机者
T-Bill (Treasury Bill) 美国短期国债（每星期发行一次）
T-bond (Treasury Bond) 美国长期国债（期限为20年或30年）
T-note (Treasury Note) 美国中期国债（期限为2年到10年）
Technology-heavy Nasdaq 以技术为主的Nasdaq
Technology-laden Nasdaq 以技术为主的Nasdaq
term 年限
tech-heavy NASDAQ 以技术股票为主的NASDAQ
technology-rich stocks 技术股票
technology-weighted index (NASDAQ) 反映技术股票的指数(NASDAQ)
希望能帮助到你，望采纳！！！