金融詞匯
金融詞匯之一 Abandonment(棄權(quán)) Controlling party giving up rights to property voluntarily. Abandonment option(清算期權(quán)) The option of terminating an investment earlier than originally planned. Abandonment value（清算價(jià)值） The value of a project if the project’s assets were sold externally ;or alternatively. its opportunity value if the assets were employed elsewhere in the firm. ABC agreement A contract between an employee and a brokerage firm outlining the rights of the firm purchasing an NYSE membership for that employee. ABC method of inventory control（存貨控制的ABC方法） Method which controls expensive inventory items more closely than less expensive items. Ability to pay（償債能力） Refers to the borrower’s ability to make interest and principal payments on debts. Abnormal return（超?；貓?bào)） The component of the return that is not due to systematic influences (market-wide influences). In other words, abnormal returns are above those predicted by the market movement alone. Absolute-priority rule（絕對(duì)優(yōu)先權(quán)準(zhǔn)則）　 The rule in bankruptcy or reorganization that claims of a set of claim holders must be paid, in full before the next. junior. set of claim holders may be paid anything. Absorbed Used in context of general equities. Securities are "absorbed" as long as there are corresponding orders to buy and sell. The market has reached the absorption point when further assimilation is impossible without an adjustment in price. Accelerated depreciation（加速折舊） Methods of depreciation that write off the cost of a capital asset faster than under straight-line depreciation. Acceptance（匯票） Contractual agreement instigated when the drawee of a time draft "accepts" the draft by writing the word "accepted" thereon. The drawee assumes responsibility as the acceptor and for payment at maturity. Accommodative monetary policy(適應(yīng)性貨幣政策) Federal Reserve System policy to increase the amount of money available to banks for lending. Accounts Payable （應(yīng)付賬款 ） Amounts of money owed to other firm because buying goods or services on credit from the firm. A current liability, the accounts payable is also called payables. Accounts receivable（應(yīng)收賬款） Amounts of money owed to a firm by customers who have bought goods or services on credit. A current asset, the accounts receivable account is also called receivables. Accounts receivable turnover (應(yīng)收賬款周轉(zhuǎn)率) The ratio of net credit sales to average accounts receivable, which is a measure of how quickly customers pay their bills. Account statement(賬戶表) In the context of banking, refers to a summary of all balances. In the context of securities, a summary of all transactions and positions (long and short) between a broker/dealer and a client. Accounting earnings (會(huì)計(jì)利潤(rùn)) Earnings of a firm as reported on its income statement. Accounting insolvency(資不抵債) Total liabilities exceed total assets. A firm with a negative net worth is insolvent on the books. Accretion (of a discount) (增值) In portfolio accounting, a straight-line accumulation of capital gains on a discount bond in anticipation of receipt of par at maturity. Accrual basis(應(yīng)收應(yīng)付制) In the context of accounting, practice in which expenses and income are accounted for as if they are earned or incurred, whether or not they have been received or paid. Antithesis of cash basis accounting. Accrual bond(一次還本付息債券) A bond on which interest accrues but is not paid to the investor during the time of accrual. The amount of accrued interest is added to the remaining principal of the bond and is paid at maturity. Accrued expenses(累積費(fèi)用，應(yīng)計(jì)費(fèi)用) Amounts owed but not yet paid for wages. taxes, interest, and dividends. The accrued expenses account is a short-term liability. Accrued interest (應(yīng)計(jì)利息) Applies mainly to convertible securities. Interest that has accumulated between the most recent payment and the sale of a bond or other fixed- income security. At the time of sale, the buyer pays the seller the bond’s price plus "accrued interest," calculated by multiplying the coupon rate by the fraction of the coupon period that has elapsed since the last payment. Accumulated dividend(累積股利) A dividend that has reached its due date, but is not paid out. Acid-test (quick) ratio(速動(dòng)比例，酸性測(cè)試比例 ) Current assets less inventories divided by current liabilities. It shows a firm’s ability to meet current liabilities with its most liquid (quick) assets. Acquisition (收購(gòu)) When a firm buys another firm. Acquisition cost(收購(gòu)成本) Refers to the price (including the closing costs) to purchase another company or property. In the context of investments, refers to price plus brokerage commissions, of a security, or the sales charge applied to load funds. Across the board （全盤(pán)） Movement or trend in the stock market that affects almost all stocks in all sectors to move in the same direction. Activity ratios(周轉(zhuǎn)率) Ratios that measure how effectively the firm is using its assets. Active portfolio strategy (積極投資組合策略) A strategy that uses available information and forecasting techniques to seek better performance than a buy and hold portfolio. Actuals (實(shí)貨) The physical commodities underlying a futures contract. Cash commodity, physical asset. Additional paid-in capital Funds received by a company in a sale of common stock that are in excess of the par or stated value of the stock. Adjusted present value (APV)(調(diào)整凈現(xiàn)值） The sum of the discounted value of a project’s operating cash flows (assuming equity financing) plus the value of any tax-shield benefits of interest associated with the project’s financing minus any flotation costs. Adjustable-rate preferred stock (ARPs)（浮動(dòng)股利優(yōu)先股） An ARPs provides the holder with dividend rates that are tied to some interest rate ,such as a short-term Treasure Bill. These issue thus provide the opportunity for increase in dividend payments. Adverse Selection Problem（逆選擇問(wèn)題） Refers to a situation in which sellers have relevant information that buyers lack (or vice versa) about some aspect of product quality. After-hours dealing or trading(閉市后交易) Securities trading after regular trading hours on organized exchanges. Agency costs（代理成本） Costs associated with monitoring management to ensure that it behaves in ways consistent with the firm’s contractual agreements with creditors and shareholders. Agency (theory)（代理理論） A branch of economics relating to the behavior of principals (such as owners) and their agents (such as managers). Agency bonds(機(jī)構(gòu)債券） Bonds issued by some federal agencies and federal sponsored agencies .These agencies borrow funds and use the proceeds to make loans to specific types of borrowers . Agent (s)（代理人） Individual (s) authorized by another person. called the principal, to act in the latter’s behalf. Aging accounts receivable（應(yīng)收賬款賬齡分析） The process of classifying accounts receivable by their age outstanding as of a given date. Aggressive growth funds（急速增長(zhǎng)型基金） A kind of mutual funds which seeks maximum capital gains as their investment objectives. Current income is not a significant factor. All or none agreement(全部賣(mài)出或取消協(xié)議) In all-or-none arrangement, the agreement calls for the underwriter to sell the entire issue during a defined period at a specified price. During the selling period ,buyers’ checks are deposited in an escrow(第三方托管的）account until the issue is fully subscribed. If sufficient shares are not sold the issue is canceled and the buyers’ checks are returned. All or none order An all-or -none order is attached to a multiple-unit trade (more than 100 shares) and instructs the broker to obtain the total number of shares requested when the order is taken to the floor. If that is not possible, the order is canceled. Alligator spread(鱷魚(yú)價(jià)差) The term used to describe a spread in the options market that generates such a large commission that the client is unlikely to make a profit even if the markets move as the investor anticipated. Allotment(分配) The number of securities assigned to each of the participants in an underwriting syndicate. Alternative minimum tax (AMT) An alternative, separate tax calculation based on the taxpayer’s regular taxable income. increased by certain tax benefits. collectively referred to as "tax preference items." The taxpayer pays the larger of the regularly determined tax or the AMT. American Depository Receipts (ADRs)(美國(guó)股票存托憑證） An ADRs is a domestic traded security that represents a claim to shares of foreign stocks. It is like a stock certificate and held in the vault of a US bank. With an ADRs the investor is entitled to all dividends and capital gains associated with the stock. American Stock Exchange (AMEX)（美國(guó)股票交易所） Stock exchange with the third highest volume of trading in the U.S. Located at 86 Trinity Place in downtown Manhattan. The bulk of trading on AMEX consists of index options (computer technology index, institutional index, major market index) and shares of small to medium-sized companies are predominant. Recently merged with Nasdaq American options(美式期權(quán)） If a put or call option can be exercised at any time before expiration, it is termed an American option. Amman Financial Market (AFM) (阿曼金融市場(chǎng)) Established in 1976, the AFM is the only stock exchange in Jordan. Amortization schedule（分期付款償還表） A table showing the repayment schedule of interest and principal necessary to pay off a loan by maturity. Annuity（年金） A series of equal payment or receipts occurring over a specified number of periods. In an ordinary annuity, payments or receipts occur at the end of...
金融詞匯