sole propsietorship 獨(dú)資企業(yè)
partnership 合伙企業(yè)
corporate finance 公司財(cái)務(wù)
corporate 公司
closely held 私下公司
public company 公眾公司
Goldman Sachs 高盛銀行
pension fund 養(yǎng)老基金
insurance company 保險(xiǎn)公司
board of director 董事會(huì)
separation of ownership and management 所有權(quán)與管理權(quán)的分離
limited liability 有限責(zé)任
articles of incorporation 公司章程
real asset 實(shí)物資產(chǎn)
financial asset 金融資產(chǎn)
security 證券
financial market 金融市場
capital market 資本市場
money market 貨幣市場
investment decision 投資決策
capital budgeting decision 資本預(yù)算決策
financing decision 融資決策
financial manager 財(cái)務(wù)經(jīng)理
treasurer 司庫
controller 總會(huì)計(jì)師
CFO 首席財(cái)務(wù)官
principal-agent problem 委托代理問題
principal 委托人
agent 代理人
agency cost 代理成本
information asymmetry 信息不對稱
signal 信號
efficient markets hypothesis 有效市場假說
present value 現(xiàn)值
discount factor 貼現(xiàn)因子
rate of return 收益率
discount rate 貼現(xiàn)率
hurdle rate 門坎比率
opportunity cost of capital 資本機(jī)會(huì)成本
net present value 凈現(xiàn)值
cash outflow 現(xiàn)金支出
net present value rule 凈現(xiàn)值法則
rate-of-return rule 收益率法則
profit maximization 利潤化
doing well 經(jīng)營盈利
doing good 經(jīng)營造益
Salomon Brothers 所羅門兄弟公司
term stucture of interest rate 利率期限結(jié)構(gòu)
annuity 年金
perpetuity 永久年金
annuity factor 年金因子
annuity due 即期年金
future value 終值
conmpound interest 復(fù)利
simple interest 單利
continuously compounded rate 連續(xù)復(fù)利率
Consumer Price Index (CPI) 消費(fèi)物價(jià)指數(shù)
current dollar 當(dāng)期貨幣
nominal dollar 名義貨幣
constant dollar 不變貨幣
real dollar 實(shí)際貨幣
real rate of return 實(shí)際收益率
inflation rate 通貨膨脹率
principal 本金
deflation 滯脹
yield to maturity 到期收益率
market capitalization rate 市場資本化率
dividend yield 紅利收益率
cost of equity capital 權(quán)益資本成本
payout ratio 紅利發(fā)放率
earnings per share (EPS) 每股收益
return on equity (ROE) 權(quán)益收益率
discount cash flow 貼現(xiàn)現(xiàn)金流
growth stock 成長股
income stock 績優(yōu)股
present value of growth opportunity (PVGO) 成長機(jī)會(huì)的現(xiàn)值
price-earnings ratio (P/E) 市盈率
free cash flow (FCF) 自由現(xiàn)金流量
book rate of return 賬面收益率
capital investment 資本投資
operating expense 經(jīng)營費(fèi)用
payback period 回收期
discounted-payback rule 貼現(xiàn)回收期法則
discounted-cash-flow rate of return 貼現(xiàn)現(xiàn)金流量的收益率
internal rate of return (IRR) 內(nèi)部收益率
lending 貸出
borrowing 借入
profitability measure 盈利指標(biāo)
standard of pfofitability 贏利標(biāo)準(zhǔn)
modified internal rate of return 修正內(nèi)部收益率
mutually exclusive projects 互相排斥的項(xiàng)目
capital rationing 資本約束
profitability index 盈利指標(biāo)
soft rationing 軟約束
hard rationing 硬約束
incremental payoff 增量收入
net working capital 凈營運(yùn)資本
sunk cost 沉沒成本
sunk-cost fallacy 沉沒成本悖論
overhead cost 間接費(fèi)用
salvage value 殘值
straight-line depreciation 直線法折舊
Internal Revenue Service 國內(nèi)稅收署
tax shield 稅盾
accelerated cost recovery system 加速成本回收折舊法
alternative minimum tax 另類最低稅
tax preference 稅收優(yōu)惠
accelerated depreciation 加速折舊
project analysis 項(xiàng)目分析
equivalent annual cash flow 等價(jià)年度現(xiàn)金流
marginal investment 邊際投資
default risk 違約風(fēng)險(xiǎn)
risk premium 風(fēng)險(xiǎn)溢酬
standard error 標(biāo)準(zhǔn)誤差
standard deviation 標(biāo)準(zhǔn)差
market portfolio 市場組合
market returm (rm) 市場收益率
variance 方差
the loss of a dgree of freedom 自由度損失
Delphic 德爾菲
unique risk 獨(dú)特風(fēng)險(xiǎn)
unsystematic risk 非系統(tǒng)風(fēng)險(xiǎn)
residual risk 剩余風(fēng)險(xiǎn)
specific risk 特定風(fēng)險(xiǎn)
diversifiable risk 可分散風(fēng)險(xiǎn)
market risk 市場風(fēng)險(xiǎn)
systematic risk 系統(tǒng)風(fēng)險(xiǎn)
undiversifiable risk 不可分散風(fēng)險(xiǎn)
convariance 協(xié)方差
well-diversified 有效分散
value additivity 價(jià)值可加性
efficient portfolio 有效投資組合
quadratic programming 二次規(guī)劃
best efficient portfolio 有效投資組合
capital asset pricing model (CAPM) 資本資產(chǎn)定價(jià)模型
separation theorem 分離定理
security market line 證券市場線
market capitalization 市場資本總額
small-cap stocks 小盤股
book-to-market ration 賬面-市值比
data mining 數(shù)據(jù)挖掘
data snooping 數(shù)據(jù)偵察
consumption beta 消費(fèi)貝塔
consumption CAPM 消費(fèi)型資本資產(chǎn)定價(jià)模型
risk aversion 風(fēng)險(xiǎn)厭惡
arbitrage pricing theory 套利定價(jià)理論
sensitivity of each stock to these factors 每種股票對這些因素的敏感度
three-factor model 三因素模型
company cost of capital 公司資本成本
industry beta 行業(yè)貝塔
firm value 公司價(jià)值
debt value 負(fù)債價(jià)值
asset value 資產(chǎn)價(jià)值
blue-chip firm 藍(lán)籌股
financial leverage 財(cái)務(wù)杠桿
gearing 舉債經(jīng)營
financial risk 財(cái)務(wù)風(fēng)險(xiǎn)
unlever 消除杠桿
relative market values of debt (E/V) 負(fù)債的相對市場價(jià)值
taxable income 應(yīng)稅利潤
after-tax cost 稅后成本
marginal corporate tax rate 公司邊際稅率
after-tax weighted-average cost of capital 稅后加權(quán)平均資本成本
cyclicality 周期性
cyclical firms 周期性公司
operating leverage 經(jīng)營杠桿
revenue 收入
fixed costs 固定成本
variable costs 可變成本
rate of output 產(chǎn)出率
certainty equivalent 確定性等價(jià)值
certainty-equivalent cash flow 確定性等價(jià)現(xiàn)金流
risk-adjusted discount rate 風(fēng)險(xiǎn)相應(yīng)貼現(xiàn)率
underlying variables 基礎(chǔ)變量
sample 抽樣
real option 實(shí)物期權(quán)
decision tree 決策樹
timing qption 安排期權(quán)
production option 生產(chǎn)性期權(quán)
option to bail out 清算選擇權(quán)
economic rent 經(jīng)濟(jì)租金
future market 期貨市場
capital budget 資本預(yù)算
strategic planning 戰(zhàn)略規(guī)劃
appropriation request 撥款申請
postaudit 事后審計(jì)
stock options 股票期權(quán)
private benefit 私下利益
perks 特權(quán)享受
perquisite 特權(quán)享受
overinvestment 過度投資
generally accepted accounting principle (GAAP) 公認(rèn)會(huì)計(jì)原則
qualified doption 保留意見
delegated 委托
economic value added (EVA) 經(jīng)濟(jì)附加值
trade loading 貿(mào)易超載
economic depreciation 經(jīng)濟(jì)折舊
national income and product accounts 國民收入與產(chǎn)出賬戶
cap 上限合約
strip 本息剝離債券
swap 互換
bookrunner 股份登記員
efficient capital market 有效資本市場
random walk 隨機(jī)游走
positive drift 正漂移
autocorelation coefficient 自相關(guān)系數(shù)
weak form of efficiency 弱有效性
semistrong form of efficiency 半強(qiáng)有效性
strong form of efficiency 強(qiáng)有效性
market model 市場模型
acquiring firm 兼并公司
acquired firm 被兼并公司
partnership 合伙企業(yè)
corporate finance 公司財(cái)務(wù)
corporate 公司
closely held 私下公司
public company 公眾公司
Goldman Sachs 高盛銀行
pension fund 養(yǎng)老基金
insurance company 保險(xiǎn)公司
board of director 董事會(huì)
separation of ownership and management 所有權(quán)與管理權(quán)的分離
limited liability 有限責(zé)任
articles of incorporation 公司章程
real asset 實(shí)物資產(chǎn)
financial asset 金融資產(chǎn)
security 證券
financial market 金融市場
capital market 資本市場
money market 貨幣市場
investment decision 投資決策
capital budgeting decision 資本預(yù)算決策
financing decision 融資決策
financial manager 財(cái)務(wù)經(jīng)理
treasurer 司庫
controller 總會(huì)計(jì)師
CFO 首席財(cái)務(wù)官
principal-agent problem 委托代理問題
principal 委托人
agent 代理人
agency cost 代理成本
information asymmetry 信息不對稱
signal 信號
efficient markets hypothesis 有效市場假說
present value 現(xiàn)值
discount factor 貼現(xiàn)因子
rate of return 收益率
discount rate 貼現(xiàn)率
hurdle rate 門坎比率
opportunity cost of capital 資本機(jī)會(huì)成本
net present value 凈現(xiàn)值
cash outflow 現(xiàn)金支出
net present value rule 凈現(xiàn)值法則
rate-of-return rule 收益率法則
profit maximization 利潤化
doing well 經(jīng)營盈利
doing good 經(jīng)營造益
Salomon Brothers 所羅門兄弟公司
term stucture of interest rate 利率期限結(jié)構(gòu)
annuity 年金
perpetuity 永久年金
annuity factor 年金因子
annuity due 即期年金
future value 終值
conmpound interest 復(fù)利
simple interest 單利
continuously compounded rate 連續(xù)復(fù)利率
Consumer Price Index (CPI) 消費(fèi)物價(jià)指數(shù)
current dollar 當(dāng)期貨幣
nominal dollar 名義貨幣
constant dollar 不變貨幣
real dollar 實(shí)際貨幣
real rate of return 實(shí)際收益率
inflation rate 通貨膨脹率
principal 本金
deflation 滯脹
yield to maturity 到期收益率
market capitalization rate 市場資本化率
dividend yield 紅利收益率
cost of equity capital 權(quán)益資本成本
payout ratio 紅利發(fā)放率
earnings per share (EPS) 每股收益
return on equity (ROE) 權(quán)益收益率
discount cash flow 貼現(xiàn)現(xiàn)金流
growth stock 成長股
income stock 績優(yōu)股
present value of growth opportunity (PVGO) 成長機(jī)會(huì)的現(xiàn)值
price-earnings ratio (P/E) 市盈率
free cash flow (FCF) 自由現(xiàn)金流量
book rate of return 賬面收益率
capital investment 資本投資
operating expense 經(jīng)營費(fèi)用
payback period 回收期
discounted-payback rule 貼現(xiàn)回收期法則
discounted-cash-flow rate of return 貼現(xiàn)現(xiàn)金流量的收益率
internal rate of return (IRR) 內(nèi)部收益率
lending 貸出
borrowing 借入
profitability measure 盈利指標(biāo)
standard of pfofitability 贏利標(biāo)準(zhǔn)
modified internal rate of return 修正內(nèi)部收益率
mutually exclusive projects 互相排斥的項(xiàng)目
capital rationing 資本約束
profitability index 盈利指標(biāo)
soft rationing 軟約束
hard rationing 硬約束
incremental payoff 增量收入
net working capital 凈營運(yùn)資本
sunk cost 沉沒成本
sunk-cost fallacy 沉沒成本悖論
overhead cost 間接費(fèi)用
salvage value 殘值
straight-line depreciation 直線法折舊
Internal Revenue Service 國內(nèi)稅收署
tax shield 稅盾
accelerated cost recovery system 加速成本回收折舊法
alternative minimum tax 另類最低稅
tax preference 稅收優(yōu)惠
accelerated depreciation 加速折舊
project analysis 項(xiàng)目分析
equivalent annual cash flow 等價(jià)年度現(xiàn)金流
marginal investment 邊際投資
default risk 違約風(fēng)險(xiǎn)
risk premium 風(fēng)險(xiǎn)溢酬
standard error 標(biāo)準(zhǔn)誤差
standard deviation 標(biāo)準(zhǔn)差
market portfolio 市場組合
market returm (rm) 市場收益率
variance 方差
the loss of a dgree of freedom 自由度損失
Delphic 德爾菲
unique risk 獨(dú)特風(fēng)險(xiǎn)
unsystematic risk 非系統(tǒng)風(fēng)險(xiǎn)
residual risk 剩余風(fēng)險(xiǎn)
specific risk 特定風(fēng)險(xiǎn)
diversifiable risk 可分散風(fēng)險(xiǎn)
market risk 市場風(fēng)險(xiǎn)
systematic risk 系統(tǒng)風(fēng)險(xiǎn)
undiversifiable risk 不可分散風(fēng)險(xiǎn)
convariance 協(xié)方差
well-diversified 有效分散
value additivity 價(jià)值可加性
efficient portfolio 有效投資組合
quadratic programming 二次規(guī)劃
best efficient portfolio 有效投資組合
capital asset pricing model (CAPM) 資本資產(chǎn)定價(jià)模型
separation theorem 分離定理
security market line 證券市場線
market capitalization 市場資本總額
small-cap stocks 小盤股
book-to-market ration 賬面-市值比
data mining 數(shù)據(jù)挖掘
data snooping 數(shù)據(jù)偵察
consumption beta 消費(fèi)貝塔
consumption CAPM 消費(fèi)型資本資產(chǎn)定價(jià)模型
risk aversion 風(fēng)險(xiǎn)厭惡
arbitrage pricing theory 套利定價(jià)理論
sensitivity of each stock to these factors 每種股票對這些因素的敏感度
three-factor model 三因素模型
company cost of capital 公司資本成本
industry beta 行業(yè)貝塔
firm value 公司價(jià)值
debt value 負(fù)債價(jià)值
asset value 資產(chǎn)價(jià)值
blue-chip firm 藍(lán)籌股
financial leverage 財(cái)務(wù)杠桿
gearing 舉債經(jīng)營
financial risk 財(cái)務(wù)風(fēng)險(xiǎn)
unlever 消除杠桿
relative market values of debt (E/V) 負(fù)債的相對市場價(jià)值
taxable income 應(yīng)稅利潤
after-tax cost 稅后成本
marginal corporate tax rate 公司邊際稅率
after-tax weighted-average cost of capital 稅后加權(quán)平均資本成本
cyclicality 周期性
cyclical firms 周期性公司
operating leverage 經(jīng)營杠桿
revenue 收入
fixed costs 固定成本
variable costs 可變成本
rate of output 產(chǎn)出率
certainty equivalent 確定性等價(jià)值
certainty-equivalent cash flow 確定性等價(jià)現(xiàn)金流
risk-adjusted discount rate 風(fēng)險(xiǎn)相應(yīng)貼現(xiàn)率
underlying variables 基礎(chǔ)變量
sample 抽樣
real option 實(shí)物期權(quán)
decision tree 決策樹
timing qption 安排期權(quán)
production option 生產(chǎn)性期權(quán)
option to bail out 清算選擇權(quán)
economic rent 經(jīng)濟(jì)租金
future market 期貨市場
capital budget 資本預(yù)算
strategic planning 戰(zhàn)略規(guī)劃
appropriation request 撥款申請
postaudit 事后審計(jì)
stock options 股票期權(quán)
private benefit 私下利益
perks 特權(quán)享受
perquisite 特權(quán)享受
overinvestment 過度投資
generally accepted accounting principle (GAAP) 公認(rèn)會(huì)計(jì)原則
qualified doption 保留意見
delegated 委托
economic value added (EVA) 經(jīng)濟(jì)附加值
trade loading 貿(mào)易超載
economic depreciation 經(jīng)濟(jì)折舊
national income and product accounts 國民收入與產(chǎn)出賬戶
cap 上限合約
strip 本息剝離債券
swap 互換
bookrunner 股份登記員
efficient capital market 有效資本市場
random walk 隨機(jī)游走
positive drift 正漂移
autocorelation coefficient 自相關(guān)系數(shù)
weak form of efficiency 弱有效性
semistrong form of efficiency 半強(qiáng)有效性
strong form of efficiency 強(qiáng)有效性
market model 市場模型
acquiring firm 兼并公司
acquired firm 被兼并公司