TheMBAGlover

D

中文词句	English Terms	English Definitions
大宗交易	Block Trade	The sale or purchase of a large quantity of securities.
呆账准备金	Allowance For Doubtful Accounts	An estimation made by companies and documented on their balance sheet for receivables that might go uncollected.
代理人	Agent	An organization, such as a bank or trust company, that takes responsibility for the fiscal duties of an unrelated party.
代理委托书	Proxy	A formal document signed by a shareholder to authorize another shareholder, or commonly the company's management, to vote the holder's shares at the annual meeting.
代理问题	Agency Problem	When conflicts of interest rise between creditors, shareholders, and management, because of differing goals.
贷款	Loan	When a lender gives money or property to a borrower, and the borrower agrees to return the property or repay the borrowed money along with interest, at a predetermined date in the future.
贷款损失准备金	Loan Loss Provision	An expense set aside as an allowance for bad loans (customer defaults, or terms of a loan have to be renegotiated, etc).
贷款银团	Loan Syndication	The process of involving numerous different lenders in providing various portions of a loan.
贷款与价值比率	Loan to Value Ratio	A lending risk ratio calculated by dividing the total amount for the mortgage or loan by the appraised value of the property.
带领权	Drag Along Rights	A right that enables a majority shareholder to force a minority shareholder to join in the sale of a company. The majority owner doing the dragging must give the minority share holder the same price, terms, and conditions as any other seller.
担保人	Guarantor	A person that guarantees to pay for someone else's debt if they default on their loan obligation.
单纯期权	Vanilla Option	An normal option with no special or unusual features.
单位数量，整份股	Board Lot	A term used when describing a standard number of shares in trading stocks, usually 100.
单位信托	Unit Trust (UT)	An un-incorporated mutual fund structure that allows funds to hold assets and pass through profits to the individual owners, rather than reinvest profits back into the fund.
单一业务	Pure Play	A company devoted to one line of business, or a company whose stock price is highly correlated with the fortunes of a specific investing theme or strategy.
到价	At the Money	An option is at-the-money if the strike price of the option equals the market price of the underlying security.
到价	In the Money	For a call option, in-the-money is when the option's strike price is below the market price of the underlying stock. For a put option, in-the-money is when the strike price is above the market price of the underlying stock.
到期日	Expiration Date	The day on which an options or futures contract is no longer valid and, therefore, ceases to exist.
到期日期	Maturity Date	The date on which a bond's principal or other liability investment is repaid to the investor and interest payments stop.
到期收益率	YTM	The rate of return anticipated on a bond if it is held until the maturity date. YTM is considered a long term bond yield expressed as an annual rate. The calculation takes into account the current market price, par value, coupon interest rate, and time to maturity. It is also assumed that all coupons are reinvested at the same rate. Sometimes this is referred to as a bond's "yield" for short.
到期收益率	Yield To Maturity (YTM)	The rate of return anticipated on a bond if it is held until the maturity date. YTM is considered a long term bond yield expressed as an annual rate. The calculation takes into account the current market price, par value, coupon interest rate, and time to maturity. It is also assumed that all coupons are reinvested at the same rate. Sometimes this is referred to as a bond's "yield" for short.
道琼斯工业平均指数	DJIA	The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq. The DJIA was invented by Charles Dow back in 1896.
道琼斯工业平均指数	Dow Jones Industrial Average (DJIA)	The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq. The DJIA was invented by Charles Dow back in 1896.
道琼斯公用事业平均指数	DJUA	The Dow Jones Utility Average is a price-weighted average of 15 utility stocks traded in the United States. The DJUA was started back in 1929.
道琼斯公用事业平均指数	Dow Jones Utility Average (DJUA)	The Dow Jones Utility Average is a price-weighted average of 15 utility stocks traded in the United States. The DJUA was started back in 1929.
道琼斯交通平均指数	DJTA	The Dow Jones Transportation Average is a price-weighted average of 20 transportation stocks traded in the United States. The average was started back in 1884.
道琼斯交通平均指数	Dow Jones Transportation Average (DJTA)	The Dow Jones Transportation Average is a price-weighted average of 20 transportation stocks traded in the United States. The average was started back in 1884.
道氏理论	Dow Theory	A theory which says the market is in an upward trend if one of its averages (industrial or transportation) advances above a previous important high, it is accompanied or followed by a similar advance in the other.
等值	Par	The face value of a bond. Generally $1,000 for corporate issues, with higher denominations such as $10,000 for many government issues. A dollar amount assigned to a security when first issued.
等值债券	Parity Bond	Two or more bond issues with equal rights to bond payments and pledged revenues.
低价交易	Downtick	A transaction on an exchange occurring at a price below the previous transaction.
低价交易量	Downtick Volume	The share volume of a security that trades at a price lower than its previous price.
低负债资产负债表	Clean Balance Sheet	Referring to a company whose balance sheet has very little or no debt.
低市值公司	Small-Cap	Refers to stocks with a relatively small market capitalization. The definition of small-cap can vary among brokerages, but generally a company between $300 million to $2 billion in market cap is considered a small cap.
抵押品	Collateral	Properties or assets that are offered to secure a loan or other credit. Collateral becomes subject to seizure on default.
地产让与证书	Conveyance	A written instrument, such as a deed or lease, that transfers some ownership interest in real property from one person to another.
地区股票交易所	Regional Stock Exchange	Any exchange that resides beyond the country's main financial center.
递延利息债券	Deferred Interest Bond	A debt instrument that pays no interest until a date specified in the future.
递延年金	Deferred Annuity	An annuity contract that delays payments of income, installments, or a lump sum until the investor elects to receive them.
递延收入	Deferred Revenue	A liability account used for deposits and other cash receipts prior to the completion of the sale.
递延所得税	Deferred Income Tax	A liability that results from income already earned and recognized for accounting purposes, but not for tax purposes, that is recorded on the balance sheet.
递延帐户	Deferred Account	An account that postpones tax liabilities until a later date. Deferred accounts are usually retirement accounts.
第三方保管契约	Escrow	A financial instrument held by a third party on behalf of others until their written or oral instructions or obligations have been fulfilled.
第三方保管协议	Escrow Agreement	A certificate provided by an approved bank that guarantees the indicated securities are deposited at that particular bank.
电子商贸	Ecommerce	When a person or business uses the Internet as part of their business model.
掉期	Swap	Traditionally, the exchange of one security for another to change the maturity (bonds), quality of issues (stocks or bonds), or because investment objectives have changed. Recently, swaps have grown to include currency swaps and interest rates swaps.
掉期利率	Swap Rate	The rate of the fixed portion of a swap as determined by its particular market. This is the rate at which the swap will occur for one of the parties entering into the agreement.
掉期息差	Swap Spread	The difference between the negotiated and fixed rate of a swap. The spread is determined by characteristics of market supply and creditor worthiness. The difference between the swap rate and the lending rate offered through other investment vehicles with comparable characteristics.
顶尖业务	Crown Jewels	The most valuable unit of a corporation because of profitability, asset value, future prospects, etc.
订单积压	Backlog	The total value of sales orders waiting to be fulfilled.
定额投资	Closed-End Investment	When an investment company issues a fixed number of shares in an actively managed portfolio of securities. The shares are traded in the market just like common stock.
定价能力	Pricing Power	An economic term referring to the effect that a change in a firm's product price has on the quantity demanded of that product. Pricing power ties in with the "Price Elasticity of Demand."
定量分析	Quantitative Analysis	A security analysis that uses financial information derived from company annual reports and income statements to evaluate an investment decision.
定期存款	Time Deposit	A savings account or CD held for a fixed-term with the understanding that the depositor can only withdraw by giving written notice.
定性分析	Qualitative Analysis	Analysis that uses subjective judgment in evaluating securities based on non-financial information such as management expertise, cyclicality of industry, strength of research and development, and labor relations.
董事会	Board Of Directors	Individuals elected by stockholders to establish corporate management policies. A board of directors makes decisions on major company issues and controls when dividends will be paid to stockholders.
独立基金	Segregated Fund	A type of annuity that is similar to a mutual fund. Segregated Funds are an insurance product and are only offered by insurance companies.
独立审计师	Independent Auditor	An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report.
独资经营	Sole Proprietorship	A business organization that is unincorporated and has only one owner.
杜邦分析	Du Pont Analysis	A method of performance measurement that was started by the DuPont Corporation in the 1920s, and has been used by them ever since. With this method, assets are measured at their gross book value rather than at net book value in order to produce a higher ROI.
杜邦特性理论	Du Pont Identity	An expression breaking down return on equity (ROE) into three parts: profit margin, total asset turnover, and financial leverage. The Du Pont identity tells us that ROE is affected by 3 things: Operating efficiency (as measured by profit margin) Asset use efficiency (as measured by total asset turnover) Financial leverage (as measured by the equity multiplier)
短期国库券	Treasury Bill	A U.S. Government debt security with a maturity that is less than one year. Treasury bills are issued through a competitive bidding process at a discount from par. This means they do not pay fixed interest payments like most bonds do.
短期同业拆借利率，通知贷款利率	Call Loan Rate	The short term interest rate charged on a secured call loan, usually in margin accounts.
短期同业拆借，通知贷款	Call Loan	A loan provided to a brokerage firm and used to finance margin accounts. The interest rate on a call loan is calculated daily. The resulting interest rate is referred to as the call loan rate.
对冲	Hedge	Making an investment to reduce the risk of adverse price movements in an asset. Normally, a hedge consists of protecting a position in a related security.
对冲比率	Hedge Ratio	A ratio comparing the amount you are hedging with the size of the position being hedged against. A ratio comparing the value of futures contracts purchased or sold versus the value of the cash commodity being hedged against.
对冲基金	Hedge Fund	An aggressively managed portfolio taking positions on safe and speculative opportunities. Most hedge funds are limited to a maximum of 100 investors. For the most part, hedge funds are unregulated because it is assumed the people investing in these are very sophisticated and wealthy.
多元化	Diversification	A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance.
多元化普通股资金	Diversified Common Stock Fund	A mutual fund that invests its assets in a wide range of common stocks. The fund's objectives can be growth, income, or a combination of both.
多数股东	Majority Shareholder	A person or conglomerate who owns more than 50% of the outstanding shares for a corporation.

TheMBAGlover

C

中文词句	English Terms	English Definitions
CEDEL	CEDEL	A zero-coupon bond issued by a corporation, it can be converted into that corporation's common stock at a certain price.
财产转让	Disposition	Getting rid of an asset or security through a direct sale or some other method.
财产	Property	A legally owned possession or real estate.
财产税	Property Tax	A tax assessed on real estate by the local government. The tax is usually based on the value of property (including the land) you own.
财富500	Fortune 500	An annual list of the 500 largest companies in the United States. The list is compiled using the most recent figures for revenue.
财富效应	The Wealth Effect	The "wealth effect" refers to the propensity of people to spend more if they have more assets. The premise is that when the value of equities rises, so does our wealth and disposable income. Therefore, we feel more comfortable about spending.
财富增值指数	Wealth Added Index (WAI)	Designed by the Steward Stern & Co. consulting firm, this index measures wealth intuitively as returns exceeding shareholder's cost of capital.
财富效应	Wealth Effect	The "wealth effect" refers to the propensity of people to spend more if they have more assets. The premise is that when the value of equities rises, so does our wealth and disposable income. Therefore, we feel more comfortable about spending.
财富管理	Wealth Management	A professional service which is the combination of financial/investment advice, accounting/tax services, and legal/estate planning for one fee.
财务	Finance	The science that describes the management of money, banking, credit, investments, and assets.
财务会计	Financial Accounting	Reporting of the financial position and performance of a firm through financial statements issued to external users on a periodic basis.
财务会计标准委员会	Financial Accounting Standards Board - (FASB)	Designated as the organization for establishing standards of financial accounting and reporting. FASB standards govern the preparation of financial reports and are recognized by the SEC.
财务表现	Financial Performance	A company's ability to generate new resources, from day-to-day operations, over a given period of time.
财务规划	Financial Planner	An investment professional who assists individuals put together a financial plan and coordinate various financial activities.
财务代理	Fiscal Agent	An organization, such as a bank or trust company, that takes responsibility for the fiscal duties of an unrelated party.
财务年度	Fiscal Year	Any 12-month period that a company uses for accounting purposes.
财政政策	Fiscal Policy	Government spending policies that influence macroeconomic conditions. These policies affect tax rates, interest rates, and government spending, in an effort to control the economy.
CAMELS评级制度	CAMELS Rating System	An international bank-rating system with which bank supervisory authorities rate institutions according to six factors. The six areas examined are represented by the acronym "CAMELS."
参考比率	Reference Rate	The underlying index or rate upon which a floating-rate security is based.
残值	Salvage Value	The estimated value that an asset will realize upon its sale at the end of its useful life.
长城	Chinese Wall	A slang term for the division within a brokerage firm that prevents insider information from being handed out by corporate advisers to investment traders.
长期债款、融资债务	Funded Debt	A long term debt that matures after more than one year.
长期债券	Long Bond	A bond that matures in more than 10 years. When people refer to "the long bond," this typically is the 30-year U.S. treasury.
长期资产	Long Term Assets	Reported on the balance sheet, it's the value of a company's property, equipment, and other capital assets, less depreciation. A stock, bond, or other asset that you plan on holding in your portfolio for a lengthy period of time.
长期债务/总资本比率	Long Term Debt/Capitalization	A ratio indicating the financial leverage of a firm. It is calculated by taking a company's long term debt and dividing by the capital available (the sum of long term debt, preferred stock, and stockholders' equity).
长期债务	Long Term Debt	A ratio indicating the financial leverage of a firm. It is calculated by taking a company's long term debt and dividing by the capital available (the sum of long term debt, preferred stock, and stockholders' equity).
长期负债	Long Term Liabilities	Recorded on the balance sheet, a company's liabilities for leases, bond repayments, and other items due in more than one year.
偿付比率	Solvency Ratio	One of many ratios used to gauge a company's ability to meet long-term obligations.
偿付能力、资力	Solvency	The ability of a corporation to meet both its long-term fixed expenses and to have adequate money for long-term expansion and growth.
偿还债务	Repayment	The payment of a debt obligation prior to its due date. The excess payment over a scheduled debt repayment amount.
偿债基金	Sinking Fund	A means of repaying funds advanced through a bond issue. The issuer makes periodic payments to a trustee, who retires part of the issue by purchasing the bonds in the open market.
场外交易	Curb Trading	Trading that occurs outside of general market regulations, commonly through computers or telephones after the official exchanges have closed.
场外交易证券	OTC	A security which is not traded on an exchange, usually due to an inability to meet listing requirements. For such securities, brokers/dealers negotiate directly with one another over computer networks and by phone. The NASD carefully monitors their activities.
场外交易证券	Over-The-Counter (OTC)	A security which is not traded on an exchange, usually due to an inability to meet listing requirements. For such securities, brokers/dealers negotiate directly with one another over computer networks and by phone. The NASD carefully monitors their activities.
超额认股权	Greenshoe Option	An option that allows the underwriting of an IPO to sell additional shares to the public if the demand is high.
超额配股权	Overallotment	Selling more securities than are available in an IPO.
超额认购	Oversubscribed	When the demand for a new issue of securities (IPO) exceeds the number of shares issued.
超高市值股票	Mega Cap	Companies having a market capitalization greater than $200 billion.
超卖	Oversold	A technical analysis term for a market in which the volume of selling that has occurred is greater than the fundamentals justify.
成本基础	Cost Basis	The purchase price after commissions or other expenses. Cost basis is used to calculate capital gains or losses when the security is eventually sold.
成本协同效益	Cost Synergy	In the context of mergers, cost synergy is the savings in operating costs expected after two companies, who compliment each other's strengths, join.
承销价差	Underwriting Spread	The spread between the amount received by underwriters from the public offering price and the amount underwriters pay to the issuing company for the securities
承销团	Syndicate	A group of bankers, insurers, etcetera, who work together on a large project.
承销团	Underwriting	The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). The process of issuing insurance policies
乘数效应	Multiplier Effect	The expansion of a country's money supply that results from the collective of member banks being able to lend more money than they take in.
承继人	Heir	A person who inherits some or all of the estate of a recently deceased person. The legal successor is usually selected because they are related to the deceased by a direct bloodline or have been designated in a will or by a legal authority.
持续经营	Going Concern	A term for a company that has the resources needed in order to continue to operate. If a company is not a going concern, it means the company has gone bankrupt.
持续经营价值	Going Concern Value	The value of a company's ability to generate earnings from tangible and intangible assets.
持有	Hold	An analyst recommendation to neither buy nor sell a security.
持有量不足	Underweight	A term describing an investment position that does not hold a sufficient amount of securities to satisfy the accepted benchmark of the portfolio's asset allocation strategy.
持有期	Holding Period	The time (or expected time) that an asset will be held for.
持有期回报/收益率	Holding Period Return/Yield	The total return received from holding an asset. Calculated as income plus price appreciation during a specified time period, divided by the cost of the investment.
重置成本	Replacement Cost	The price that will have to be paid to replace an existing asset with a similar asset.
出口	Export	In reference to international trade, these are goods shipped from one country from another.
出市代表、场内交易商	Floor Trader	An exchange member who executes transactions from the floor of the exchange exclusively for their own account.
出售权	Put	An option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying security at a specified price within a specified time. The act of exercising a put option.
出售认股权证	Put Warrant	A warrant that gives the holder the right to sell the underlying share for an agreed price, on or before a specified date.
出账、销账	Charge Off	A debt that is deemed uncollectable and written off. Also known as a bad debt. A one time expense incurred by a company that negatively affects earnings.
初级市场	Primary Market	The market in which investors have the first opportunity to buy a newly issued security.
除权、不带新股认股权	Ex-Rights	The period when a new purchaser of stock is not entitled to participate in the recently declared rights offering.
除外责任比率	Exclusion Ratio	The portion of the return on investments that is income tax exempt. It represents a payback of initial investments rather than capital gains.
除息、不带息	Ex-Dividend	The trading of shares when a declared dividend belongs to the seller rather than the buyer.
除证、不带认股权证	Ex-Warrant	The trading of shares when a warrant has been declared, but not distributed.
创业基金	Venture Capital Fund	Venture capital funds pool and manage money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential.
创业基金投资者	Venture Capitalist	An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding.
创业项目	Venture	Generally refers to a risky start-up or enterprise company.
创业资本	Venture Capital	Money and resources made available to startup firms and small businesses with exceptional growth potential.
纯价格	Clean Price	The price quoted for a bond excluding accrued interest.
次级股票	Secondary Stock	A stock that is considered more risky than blue chips because it has a smaller market capitalization.
次级证券	Junior Security	A security that ranks below others in regards to claim on assets and income.
从属债务	Subordinated Debt	A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings.
存款证	CD	A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified interest rate, and can be issued in any denomination. CDs are generally issued by commercial banks.
存款证	Certificate Of Deposit (CD)	A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified interest rate, and can be issued in any denomination. CDs are generally issued by commercial banks.
存款、按金	Deposit	A transaction involving a transfer of funds to another party for safekeeping. A portion of funds that is used as security or collateral for the delivery of a good.
存托公司	Depository Trust Company (DTC)	One of the world's largest securities depositories, it holds in excess of $10 trillion worth of securities in custody. The DTC acts like a clearing house to settle trades in corporate and municipal securities.
存托及结算机构	Depository Trust and Clearing Corporation (DTCC)	Established in 1999, the DTCC is a holding company consisting of 5 clearing corporations and 1 depository, making it the world's largest financial services corporation dealing in post trade transactions.
存托凭证	Depository Receipt	A negotiable financial instrument issued by a bank to represents a foreign company's publicly traded securities. The depository receipt trades on a local stock exchange.

TheMBAGlover

B

中文词句	English Terms	English Definitions
巴黎俱乐部	Paris Club	A monthly meeting, taking place in Paris, between the creditors of 19 countries for the purpose of discussing debt issues. Among other things, the Paris Club addresses the issue of coordinated debt relief for developing countries that cannot service their debt.
白皮书	White Paper	An informational document issued by companies trying to promote or highlight the significance of a planned product or service
白武士	White Knight	A company that makes a friendly takeover offer for the control of a target company that is being faced with a hostile takeover from a separate party.
白象	White Elephant	Any investment that nobody wants because it is a money loser.
半可变因素	Semi-Variable Cost	A cost composed of a mixture of fixed and variable components. Costs are fixed for a set level of production or consumption, becoming variable after the level is exceeded.
半年	Semi-annual	An event that occurs twice in a calendar year.
保管人	Custodian	A financial institution that has the legal responsibility for a customer's securities. This implies management as well as safekeeping.
保管帐户	Custodial Account	1. An account created at a bank, brokerage firm or mutual fund company that is managed by an adult for a minor that is under the age of 18 to 21 (depending on state legislation).
保护主义	Protectionism	Actions taken by a government to prevent imports from destroying domestic producers.
保荐人	Sponsor	In the context of mutuals, an underwriting company that offers shares in its mutual funds. In the context of stocks, an influential investor who creates demand for a security because of their positive outlook on it.
保留管理层的收购项目	Management Buyin (MBI)	When a group of investors outside of a company purchase a controlling block of shares and keep the existing management.
保留盈余	R/E	The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. Calculated by adding net income to (or subtracting any net losses from) beginning retained earnings and subtracting any dividends paid to shareholders.
保留盈余	Retained Earnings	The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet.
保收债券	Cushion Bond	A type of callable bond that sells at a premium because the issued coupon payments are above market interest rates
保证金、按金	Margin Account	The use of borrowed money to purchase securities, referred to as "buying on margin." The amount of equity contributed by a customer as a percentage of the current market value of the securities held in a margin account. In a general business context, margin refers to the difference between selling price and the cost of goods sold.
贝塔系数	Beta (Coefficient)	The measure of systematic risk of a security. Beta (or beta coefficient) is a means of measuring the volatility of a security or portfolio of securities in comparison with the market as a whole.
备考、模拟	Pro Forma	A latin term that translates into "for the sake of form." In the investing world, the term describes a method of calculating financial results in order to emphasize either current or projected figures.
备考盈利	Pro Forma Earnings	Earnings that are derived by pro forma rather than standard GAAP methods.
背对背贷款	Back-to-Back Loan	A loan where two companies in different countries borrow offsetting amounts in each other's currency. The purpose of this transaction is to hedge against currency fluctuations.
被动投资	Passive Investing?	An investment strategy involving limited ongoing buying and selling actions. Passive investors will purchase investments with the intention of long-term appreciation and limited maintenance.
倍数	Multiple	Another term for the price/earnings ratio, which is calculated by dividing a stock's current price by the company's current annual earnings per share.
倍数压缩	Multiple Compression	Arises when a stock trades at a certain multiple and, while earnings may be good, the stock price doesn't move or sometimes goes down. The result is that the multiple is reduced even though nothing is fundamentally wrong with the company. The valuation has been called into question and the multiple that you are willing to pay for that stock is the only thing different.
本金、[企业]主要负责人、[交易]当事人	Principal	The amount borrowed or the amount still owed on a loan, separate from interest. The original amount invested, separate from earnings. The face value of a bond. The owner of a private company. The main party to a transaction, acting as either a buyer or seller for his/her own account and risk.
本年迄今	YTD	The period beginning January 1st of the current year up until today's date
本年迄今	Year To Date (YTD)	The period beginning January 1st of the current year up until today's date
本票	Promissory Note	A written, dated, and signed two-party instrument containing an unconditional promise by the maker to pay a definite sum of money to a payee on demand or at a specified future date.
本债比	Gearing	This is the ratio of long-term funds with fixed interest that makes up a firm's capital.
比例税	Proportional Tax	An income tax that takes the same percentage of income from everyone regardless of how much (or little) an individual earns.
必付合约	Take or Pay	A provision, written into a contract, whereby one party has the obligation of either taking delivery of goods or paying a specified amount.
避风港	Safe Harbor	A legal provision to reduce or eliminate liability as long as good faith is demonstrated. A form of shark repellant where a target company acquires a business that is so poorly regulated that the target itself is less attractive. In effect, this gives the target company a "safe harbor." An accounting method that avoids legal or tax regulations and allows for a simpler (usually) method of determining a tax consequence than is available following the precise language of the tax code.
避税乐园	Tax Haven	A country that offers individuals and businesses little or no tax liability.
边际税率	Marginal Tax Rate	The amount of tax paid on an additional dollar of income. As income rises, so does the tax rate.
边际效用	Marginal Utility	The additional satisfaction obtained by a consumer from consuming one more unit of a good or service.
贬值	Devaluation	Lowering the value of a country's currency compared to the value of a commodity or to the value of another country's currency.
变动率	ROC	One of two principal clearing houses for securities traded in the Euromarkets.
变动率	Rate of Change (ROC)	The speed at which a variable changes over a specific period of time.
标准差	Standard Deviation	A measure of the dispersion of a set of data from its mean. The more spread apart the data is, the higher the deviation. In finance, standard deviation is applied to the annual rate of return of an investment to measure the investment's volatility (risk).
标准普尔	S&P (Standard And Poor's)	A company that rates stocks and corporate and municipal bonds according to risk profiles. Additionally, Standard and Poor's produces and tracks the S&P indexes, and publishes a variety of financial and investment reports.
标准普尔	S&P	A company that rates stocks and corporate and municipal bonds according to risk profiles. Additionally, Standard and Poor's produces and tracks the S&P indexes, and publishes a variety of financial and investment reports.
标准普尔500	S&P500	An index consisting of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index, with each stock's weight in the index proportionate to its market value
表现超越大市	Market Outperform	An analyst recommendation meaning a stock is expected to do slightly better than the market return.
表现超越大市	Outperform	An analyst recommendation meaning a stock is expected to do slightly better than the market return.
表现股票	Performance Shares	Shares of company stock that are given to managers only if certain performance criteria is met.
表现落后大市	Underperform	An analyst recommendation that means a stock is expected to do slightly worse than the market return
波动性	Volatility	In general, volatility is a statistical measure of the tendency of a market or security to rise or fall sharply within a short period of time. Volatility is typically calculated by using variance or annualized standard deviation of the price or return. Volatility is a variable that appears in option pricing formulas. In the option pricing formula, it denotes the extent to which the the return of the underlying asset will fluctuate between now and the expiration of the option.
表现最佳承销商	Bulge Bracket	The group of firms in an underwriting syndicate who sold the largest amount of the issue.
补偿买进	Buy-In	When an investor is forced to repurchase shares because the seller did not deliver the securities in a timely fashion, or did not deliver them at all.
不可抗力	Force Majeure	Literally translated as "great force," this clause is included in contracts to remove liability for unforeseen events restricting participants from fulfilling obligations.
不可买回	Non-Callable	Securities that cannot be called by the issuer prior to maturity.
不良贷款	Bad Debt	A debt which is not collectable and therefore worthless to the creditor.
不良贷款	NPL	Loans that are in default or close to being in default.
不良资产	Non-Performing Asset	Any asset that is not effectively producing income.
不良贷款	Non-Performing Loan	Loans that are in default or close to being in default.
不能变现	Illiquid	An asset or security that cannot be converted into cash very quickly (or near prevailing market prices).
部分还款	Paydown	The process of repaying a portion of an outstanding loan balance.