英汉财经词典
Accelerated Depreciation
加 速 折 舊
An accounting method that allows a company to write off an asset''s cost
at a faster rate than the traditional method.
Accidental-death-and-dismemberment insurance
意 外 死 亡 及 斷 肢 保 險
A type of insurance that pays if you are killed or maimed in an accident
but provides no benefit in the event of illness or illness-related death.
Account Payable
應 付 帳 款
Money a company owes for merchandise or services bought on credit.
Account Receivable
應 收 帳 款
Money owed to a company for merchandise or services bought on credit.
Accountant
會 計 師 ， 會 計 員 ， 會 計
A person who records and examines individuals'' or businesses'' finances.
Accountant''s Opinion
查 帳 意 見 書
A signed statement of opinion from an accounting firm of a corporation''s
financial statements. The auditor must follow generally accepted
accounting principles. The opinion can be unqualified or qualified. A
qualified opinion calls attention to limitations of the audit or unusual
items in the statement.
Accrual Basis
應 計 制 ， 權 責 應 計 制
Accounting method in which income and expenses are accounted for as they
are earned or incurred, although they may not have been received or paid
yet.
Actual Cash Value Coverage
實 際 現 金 價 值 保 額
In home insurance, the type of policy that pays only the current,
depreciated value of furniture and other household possessions when they
are damaged or destroyed. Provides less protection than replacement-cost
coverage.
Adjustable-Rate Mortgages (ARMs)
可 調 息 按 揭
Home mortgages with interest rates that move up and down over time, based
on changes in market interest rates.
Adjusted Gross Income
調 整 後 總 收 入
A step in arriving at how much of your income is taxable by Uncle Sam.
Adjusted gross income, or AGI, consists of your gross income from taxable
sources minus certain items, such as payments to a Keogh plan or a
deductible Individual Retirement Account. AGI minus deductions and
personal exemptions equals your taxable income.
Affiliate
聯 號 ， 聯 營 公 司 ， 附 屬 公 司
Two companies are affiliated when one owns less than a majority stake of
the other, or when both are subsidiaries of a third company. Or,
generally, any association between two companies that is short of a
parent-subsidiary tie.
Aggregate
總 額 ， 合 計 ， 法 人 團 體
A total amount.
Alimony
贍 養 費
A type of payment from one former spouse to another that is agreed to as
part of a divorce settlement. Alimony is tax-deductible for the person
who pays it and taxable income for the person who receives it.
All-Ordinaries Index
所 有 普 通 股 指 數
Index of stocks on the Australian stock market chosen on the basis of
market capitalization and volume.
Alternative Minimum Tax
代 用 最 低 稅
A tax-law provision that ensures that individuals and companies pay some
income tax, no matter how many deductions or credits they claim. Under
the AMT, certain money not usually considered taxable income - sums
usually deductible, or income on tax-free bonds -- are treated as
taxable.
American Depository Receipts
美 國 寄 存 單 據 ， 預 託 證 券
Receipts held by an American bank that represent shares in a foreign
company. Also called American depository shares. Abbreviated as ADRs.
外 國 在 美 國 的 未 掛 牌 而 可 買 賣 的 寄 存 票 據 。
American Option
美 式 期 權
An option that may be exercised at any time prior to expiration.
容 許 持 有 人 在 期 權 合 約 到 期 日 或 之 前 任 何 時 間 內 行 使 的 認
沽 或 認 購 期 權 。
Amortization
攤 還 ， 分 期 攤 還 ， 攤 銷
The accounting procedure that companies use to write off intangible
rights or assets -- such as goodwill, patents or copyrights -- over the
period of their existence.
Annual percentage rate
年 百 分 率
The interest rate borrowers pay on a loan. Most of a loan''s up-front
fees are factored into the APR.
Annual-renewable-term insurance
年 可 變 期 限 保 險
Term insurance that is renewed each year, with premiums going up each
time.
Annual report
年 報
The yearly report of a company''s financial state and organization
prepared by management for shareholders.
Annuity
年 金 ， 年 積 金 ， 養 老 金
A stream of payments that continue for the recipient''s life, or some
other period. Also, a tax-deferred investment account sold by insurers,
banks, brokerage firms, and mutual fund companies, and a common
investment option in certain retirement plans. With an "immediate"
annuity, the buyer hands over a lump sum and receives payments that begin
immediately. The purchase is usually irrevocable, and payments are
usually fixed for life. With a "deferred" annuity, the money remains in
the annuity to accumulate without being taxed until taken out, usually
years later. "Fixed annuities" provide a rate of return that is fixed for
a year or so but that then can move up and down. "Variable annuities"
allow investors to allocate their money among a basket of mutual fund-
like "sub-accounts"; the return depends on the performance of the funds
selected. Watch out for high fees and penalties for early withdrawals.
Antitrust law
反 壟 斷 法 ， 反 托 拉 斯 法
Any law that encourages competition by limiting unfair business practices
and curbing monopolies'' power.
Appreciate
增 值 ， 升 值
An increase in an asset''s value.
Arbitrage
套 戥 ， 套 利
A technique of buying and selling securities to take advantage of small
differences in price.
同 時 買 賣 類 似 商 品 ， 賺 取 兩 者 間 的 差 價 。
Asked
賣 價 ， 要 價
The price that someone is willing to accept for a security or an asset.
In the stock market, the ask portion of a stock quote is the lowest price
anyone is willing to accept for a security or an asset at that time.
市 場 要 求 入 股 票 或 其 他 金 融 工 具 的 價 格 ， 即 市 場 求 沽 的 價
格 。
Asset
資 產
Everything a company or individual owns or is owed.
Asset-backed securities
具 資 產 保 證 證 券
Securities backed by loans or accounts receivable. For example, an asset
-backed bond is created when a securities firm bundles some type of debt,
like car loans, and sells investors the right to receive the payments
that consumers make on those loans.
Asset management accounts
資 產 管 理 帳 戶
All-in-one accounts that allow customers of brokerage firms to buy and
sell securities and store cash in one or more money market mutual funds.
Asset-management accounts generally offer check-writing privileges,
credit or debit cards, and automatic transfers from one account to
another. They often come with an annual fee of up to $100.
At the money
剛 到 價
An option with a strike price equal to the current price of the
instrument, such as a stock, upon which the option was granted.
Auction market
拍 賣 市 場
Trading securities on a stock exchange where buyers compete with other
buyers and sellers compete with other sellers for the best stock price.
Trading in individual stocks is managed and kept orderly by a specialist.
Auditor''s report
核 數 師 報 告 ， 查 帳 員 報 告
The independent accounting firm''s opinion on whether the company''s
financial statements conform to generally accepted accounting principles.
Average
平 均 數 ， 平 均
In the stock market, averages are indicators that measure price changes
in representative stock prices. The most popular indicator is the Dow
Jones Industrial Average, which measures the performance of 30 industrial
stocks.
Balanced fund
平 衡 基 金
A mutual fund that has three investment objectives: conserve investors''
principal, pay steady income and promote long-term growth of both
principal and income.
美 國 互 助 信 託 投 資 基 金 之 一
Balance of payments
國 際 收 支 平 衡 表 ， 國 際 收 支 ， 國 際 收 支 差 額
A statement of a country''s trade and financial transactions with the
rest of the world over a period of time.
Balance of trade
對 外 貿 易 差 額 ， 國 際 貿 易 差 額
The difference between a country''s imports and exports during a specific
time period.
Balance sheet
資 產 負 債 表
Financial statement that lists a company''s assets and liabilities as of
a specified date.
Banker''s acceptance
銀 行 承 兌 ， 銀 行 承 兌 票 據
A form of financing used in import/export transactions.
Bankruptcy
破 產 ， 倒 閉
A legal process governed by the U.S. bankruptcy code for people or
companies unable to meet financial obligations. The bankruptcy code is
divided into chapters that provide different types of relief. Chapter 7
governs liquidation rather than reorganization. Chapter 9 provides for
municipal debt adjustments. Chapter 11 provides for reorganization and
repayment for individuals, partnerships, and corporations that are
domiciled in the U.S. Chapter 12 governs reorganization and repayment for
farmers or closely-held farming corporations having debt of no more than
$1.5 million. Chapter 13 provides for individual debt adjustments and is
an alternative to liquidation under Chapter 7.
Basis point
基 點 ， 最 基 本 單 位
The smallest measure used in quoting yields on bonds and notes. One basis
point is 0.01% of yield. For example, a bond''s yield that changed from
12.72% to 12.52% has moved 20 basis points.
Bearer stock
不 記 名 股 票 ， 無 記 名 股 票
Stock certificates that aren''t registered in any name. They are
negotiable without endorsement by any person.
Bear market
熊 市 ， 跌 市 ， 淡 市
When security prices decline 15% or more.
Bellwether bond
牽 頭 羊 債 券
For the U.S. market, it is the 30-year Treasury bond most recently
offered by the government. Its performance is a benchmark for evaluating
the bond market in general. Also called the long bond.
Beneficiary
受 益 人 ， 受 款 人
A person you name in your will, life insurance policy, retirement plan,
or other financial arrangement to receive a benefit at your death.
Beta coefficient
貝 他 係 數 ， 啤 打 係 數
An estimate of an investment''s volatility. The lower the beta, the less
risky the investment.
量 度 股 票 系 統 性 風 險 的 指 數 。
Bid
買 方 叫 價 ， 買 入 價 ， 投 標
The price that someone is willing to pay for a security or an asset. In
the stock market, the bid portion of a stock quote is the highest price
anyone is willing to pay for a security at that time.
Big Board
紐 約 證 券 交 易 所
Another name for the New York Stock Exchange.
Bill of exchange
匯 票
A signed, written order by one business that instructs another business
to pay a third business a specific amount. Also called a draft.
Block trade
大 宗 股 票 交 易
Buying or selling 10,000 shares of stock or $200,000 or more worth of
bonds.
Blue-chip stocks
藍 籌 股 ， 優 良 股 票
Stocks of companies known for their long-established record of earning
profits and paying dividends.
恆 生 指 數 成 分 股 ， 這 股 份 普 遍 特 性 是 流 通 量 高 、 財 政 和 盈
利 狀 況 穩 健 ， 以 及 派 息 固 定 。
Bodily injury liability coverage
身 體 受 傷 責 任 保 額
As part of an auto policy, the liability insurance that pays if someone
is hurt or killed in an accident that is your fault.
Bond
債 券 ， 公 債 ， 保 證 書
A debt instrument that pays a set amount of interest on a regular basis.
The issuer promises to repay the debt on time and in full. Bonds are
bought and sold on the market.
由 政 府 或 企 業 簽 發 ， 表 示 其 以 固 定 息 率 向 貸 方 借 取 長 期 資
金 的 買 債 證 明 書 。 文 件 上 借 方 承 諾 按 期 付 息 還 本 。
Bond rating
債 券 評 定 ， 債 券 評 級
An assessment of the likelihood that investors will receive the promised
interest and principal payments on time. Bond ratings are assigned by
independent agencies, such as Moody''s Investors Service and Standard &
Poor''s.
Book value
帳 面 價 值
The difference between a company''s assets and its liabilities, usually
expressed in per-share terms. It takes into account all money invested in
the company since its founding, as well as retained earnings. It is
calculated by subtracting liabilities from assets and dividing the result
by the number of shares outstanding. Comparing book value to share price
is one way to gauge if a company''s stock is undervalued or overvalued.
Bottom fisher
最 低 價 漁 利 者
People who buy stocks when prices have bottomed out or fallen to low
levels.
Bottom line
年 終 盈 虧
Accounting term for the net profit or loss.
Broker
經 紀 商 ， 代 理 人
A person who gives advice and handles orders to buy or sell stocks,
bonds, commodities and options.
Brokerage firm
經 紀 行 ， 經 紀 人 公 司
When you buy or sell a security, you generally do so through a brokerage
firm. Brokerage firms fall into two main camps, full-service brokers and
discount brokers. Discount brokers charge far lower commissions than full
service brokers, and a growing number of deep discounters charge
especially low commissions. But there is a trade-off. If you use a
discount broker, you will get little or no investment advice, so you must
be willing to make your own buy and sell decisions. A full-service
broker, on the other hand, will help you pick investments and devise a
financial plan.
Bull market
牛 市 ， 升 市 ， 旺 市 ， 多 頭 市 場
A time period when security prices increase.
Call
催 繳 ， 催 繳 通 知 書 ， 提 早 贖 回 權 ， 看 漲 期 權
The issuer''s right to redeem a bond or preferred share before it
matures.
Callable bond
可 贖 回 債 券 ， 可 提 早 贖 回 權
A bond that can be redeemed by the issuer before it matures.
Call option
買 入 期 權 ， 認 購 期 權
An agreement that gives an investor the right but not the obligation to
buy a stock, bond, commodity or other instrument at a specified price
within a specific time period.
Capital assets
資 本 財 ， 資 本 資 產
An asset held for more than a year that isn''t bought or sold in the
normal course of business. Capital assets generally include fixed assets,
such as land, buildings, equipment and furniture.
Capital gain
資 本 增 益 ， 資 本 增 值
The difference between the purchase price and the sale price of an asset
when the asset was sold for more than it was bought.
Capital loss
資 本 損 失 ， 資 本 減 值
The difference between the purchase price and the sale price of an asset
when the asset was sold for less than it was bought.
Cash flow
現 金 流 量 ， 現 金 週 轉
Net income after depreciation and other non-cash charges are subtracted.
Cash market
現 金 市 場 ， 現 貨 市 場
The trading of securities according to their current -- or spot -- price.
That is in contrast to trading in a security for future delivery.
Cash value
現 金 價 值 ， 現 值
Insurance coverage that incorporates a tax-deferred savings component in
addition to providing a certain death benefit. Types include whole life,
universal life, and variable life.
Certified financial planner (CFP)
合 格 金 融 規 劃 員
The best-known financial planning designation, given to qualifying
planners by the CFP Board of Standards, Denver.
Charitable lead trust
導 向 型 慈 善 信 託
A trust that pays a charity income from a donated asset for a set number
of years, after which time the principal goes to the donor''s
beneficiaries with reduced estate or gift taxes.
Charitable remainder trust
剩 餘 財 產 慈 善 信 託
This trust lets people leave assets to a favored charity and receive a
tax break but still retain income for life. This works best for people
with a large appreciated asset, which, if sold, would generate large
capital-gains taxes.
Chartered life underwriter (CLU)
【 美 】 特 許 人 壽 保 險 承 保 人
A professional designation given to qualifying life insurance agents by
the American College, Bryn Mawr, Pennsylvania.
Churning
揩 油 交 易 ， 反 覆 買 賣 文 交 易
A securities law violation. Refers to excessive trading in a customer''s
brokerage account, done to generate increased commission income. In the
stock market, it refers to a period of heavy trading activity but few
sustained price trends and little overall movement in stock market
indexes.
Closed-end mutual fund
封 閉 型 共 同 基 金
A type of fund that issues a set number of shares and typically trades on
a stock exchange.
Closing costs
轉 移 費 用 ， 交 割 成 本
A variety of costs paid in conjunction with purchasing a home or taking
on a new mortgage. Closing costs often include points, which typically
are a form of additional interest. Other closing costs may include
property taxes, title insurance, transfer tax, and attorneys'' fees.
Closing prices
收 市 價 ， 收 盤 價
The last trading price of a stock when the market closes.
Collateral
抵 押 品
Stock or other property that borrowers are obliged to turn over to
lenders if they are unable to repay a loan.
Collateralized mortgage obligations
抵 押 保 證 證 券
Mortgage-backed securities that are carved into an array of bonds of
varying maturity, coupon and risk. Abbreviated as CMO.
Commercial bank
商 業 銀 行
A bank owned by shareholders that accepts deposits, makes commercial and
industrial loans, and provides other banking services for the public.
Also called a full-service bank.
Commercial paper
商 業 票 據
Unsecured short-term promissory notes used by companies to obtain cash.
They are sold through dealers in the open market or directly to
investors.
Commodities
商 品
Bulk goods such as grains, metals, livestock, oil, cotton, coffee, sugar
and cocoa. They can either be sold on the spot market for immediate
delivery or on the commodities exchanges for later delivery. Trade on the
exchanges is in the form of futures contracts.
Common stock
普 通 股
Represents part ownership of a company. Holders of common stock have
voting rights but no guarantee of dividend payments.
Community property
共 有 財 產
Property and income that is accumulated by a husband or wife, or jointly
as a couple, during a marriage; as a consequence, they are owned in
common by both.
Compounding
複 利 計 算
Financial advisors love to talk about the magic of compounding. What
magic? If your investments make 10% a year for five years, you earn not
50% but 61.1%. Here is the reason: as time goes on, you make money not
only on your original investment but also on your accumulated gains from
earlier years.
Comprehensive coverage
綜 合 保 險 保 額
The part of an auto insurance policy that pays if your car is stolen or
vandalized or otherwise damaged by something other than a collision.
Comptroller of the Currency
【 美 】 貨 幣 監 理 專 員
A Treasury Department official, appointed by the president and confirmed
by the Senate, who is responsible for chartering, examining, supervising
and liquidating national banks.
Consumer credit
消 費 信 貸 ， 消 費 信 用
Money loaned to individuals, usually on an unsecured basis, requiring
monthly repayment. Bank loans, credit cards and installment credit are
examples of consumer credit.
Consumer price index
消 費 物 價 指 數
A gauge of inflation that measures changes in the prices of consumer
goods. The index is based on a list of specific goods and services
purchased in urban areas. It is released monthly by the Labor Department.
Abbreviated as CPI.
Convertible bond
可 轉 換 公 司 債 券
A bond that investors may exchange for stock on some future date under
certain conditions.
附 有 換 股 權 利 的 債 券 。 持 有 人 可 在 指 定 的 情 況 下 ( 如 有 效 期
、 換 股 價 格 及 比 率 ) ， 將 債 券 換 成 借 款 上 市 公 司 的 股 票 。
Corporate bond
公 司 債 券
Bond issued by corporations.
Corporation
公 司 ， 股 份 有 限 公 司 ， 法 人 團 體
A business entity treated as a person in the eyes of the law. It is able
to own property, incur debts, sue, and be sued.
Correction
股 份 調 整 ， 回 落
A reverse movement, usually downward, in the price of an individual
stock, bond, commodity, index, or the stock market as a whole.
Cost basis
成 本 列 帳 制 ， 成 本 基 礎 制
In accounting, the valuation of an asset that includes the cost of the
asset and factors in items like depreciation, capital gains and
dividends.
Cost of living
生 活 費 用
The level of prices of goods and services required for a reasonable
standard of living.
Cost-push inflation
成 本 通 脹 ， 成 本 推 動 的 通 貨 膨 脹
A sustained rise in prices caused by businesses passing on increases in
costs, especially labor costs, to purchasers.
Council of economic advisers
經 濟 顧 問 委 員 會
Presidential advisers who recommend economic measures and help prepare an
annual economic report to Congress.
Coupon
息 票 ， 票 面 息 率
The interest rate specified on a bond when it is originally issued.
Credit rating
信 用 評 級
Formal evaluation of a government body''s or company''s credit history
and ability to repay its debts.
Cumulative voting
累 積 投 票
A method of voting for corporate directors. Each share has as many votes
as there are directors to be elected, and the holder may distribute these
votes as he wishes.
Currency
通 貨 ， 貨 幣 ， 外 匯
Money that circulates in an economy. Also refers to a country''s official
unit of exchange.
Current account balance
往 來 帳 戶 結 存
One of the components of a country''s balance of payments, The current
account balance covers the imports and exports of goods and services.
Current ratio
流 動 比 率
A measure of a company''s liquidity, or its ability to pay its short-term
debts. Calculated by dividing current assets by current liabilities.
Current yield
現 時 收 益 率
A measure of an investor''s return on a bond. Calculated by dividing the
coupon rate by the purchase price, then multiplying by $1,000.
Cusip number
【 美 】 庫 西 普 號 碼
An identification number for securities. Cusip is an acronym for
Committee on Uniform Securities Identifying Procedures.
Cyclical stock
敏 感 性 股 票
Shares that tend to rise during an upturn in the economy and fall during
a downturn.
Day order
即 日 指 示
An investor''s order to buy or sell stock that will be canceled by the
end of the day if not filled.
Debenture
公 司 債 券
A certificate issued by a corporation that states the amount of a loan,
the interest to be paid and the time for repayment. It is backed only by
the corporation''s reputation and good word, not by collateral.
Debt
債 務 ， 欠 款
Securities such as bonds, notes, mortgages and other forms of paper that
indicate the intent to repay an amount owed.
Deductible
可 扣 除 的 ， 可 減 額
Under an insurance policy, the amount of loss or expense that you must
shoulder yourself before the insurance company begins paying.
Default
遧 約 ， 不 履 行 責 任
Failure to pay principal or interest on a financial obligation. It can
also refer to a breach or nonperformance of the terms of a debt
instrument.
Defensive securities
價 格 波 動 較 少 的 證 券
Stocks with investment returns that do not tend to decline as much as the
market in general in times when stock prices are falling. Those include
companies with earnings that tend to grow despite the business cycle,
such as food and drug firms, or companies that pay relatively high
dividends like utilities.
Defined-benefit pension plan
【 美 】 固 定 養 老 金 受 益 計 劃
A traditional pension plan, which pays retirees a fixed monthly check
based on their age, salary, and length of service.
Deflation
通 貨 緊 縮
A decline in the general price level of goods and services that results
in increased purchasing power of money. The opposite of inflation.
Delta
得 爾 塔 係 數
A measure of the relationship between an option price and its underlying
futures contract or stock price.
衡 量 期 權 價 格 與 相 應 期 貨 合 同 價 格 關 係 的 係 數
Demand-pull inflation
需 求 通 脹
A general increase in prices that occurs when demand exceeds supply.
Depreciation
折 舊 ， 貶 值
A decline in value. In accounting, a reduction of earnings to write off
the cost of an asset over its estimated useful life.
Ddepression
經 濟 蕭 條 ， 不 景 氣
A severe downturn in an economy that is marked by falling prices, reduced
purchasing power, and high unemployment.
Devaluation
貶 值 ， 通 貨 貶 值
The government''s reduction of the value of its currency in relation to
the currency of other counties. When a nation devalues its currency, the
goods it imports become more expensive, while its exports become less
expensive abroad and thus more competitive.
Dip
微 軟
A slight decline in securities prices followed by a rise.
Disability insurance
傷 殘 保 險
Insurance that can replace part of your income if illness or injury
leaves you unable to work for an extended period.
Discount
折 扣 ， 貼 現
In general, the amount by which one security price is less than another.
In financing, it is the interest withheld when a note, draft, or bill is
purchased.
Discount broker
貼 現 經 紀
Broker who charges lower commissions than full-service brokers. Investors
often give up the benefits of stock-picking advice, updates on news
affecting their investments and research services normally provided by
full-service brokers.
Discount rate
折 扣 率 ， 貼 現 率
The interest rate charged by the Federal Reserve on loans to banks and
other financial institutions. This rate influences the rates these
financial institutions then charge to their customers.
Disinflation
反 通 貨 膨 脹 ， 通 貨 緊 縮
A slowdown in the rate of price increases. Disinflation occurs during a
recession, when sales drop and retailers are unable to pass higher prices
along to consumers.
Disintermediation
減 少 居 中 融 資 功 能 ， 減 少 媒 介 作 用
The movement of funds from low-yielding accounts like savings accounts
into higher yielding investments like debt securities.
Disposable income
可 支 配 收 入 ， 稅 後 所 得
The income that a person retains after taxes. Disposable income can be
saved or used to purchase goods and services.
Diversification
多 元 化 ， 多 樣 化
When you diversify, you spread your money among a slew of different
securities, thereby avoiding the risk that your portfolio will be badly
bloodied because a single security or a particular market sector turns
sour.
Dividend
股 息 ， 紅 利
A portion of a company''s income paid to shareholders as a return on
their investment.
上 市 公 司 分 派 給 股 東 的 不 固 定 利 潤 ， 可 以 用 現 金 、 股 份 、
認 股 證 等 式 派 送 。
Dividend Payout Ratio
派 息 比 率
每 股 派 息 與 每 股 盈 利 間 的 比 例 。
Dividend yield
股 息 率 ， 股 息 收 益
A company''s annual dividend expressed as a percentage of its current
stock price.
一 年 的 總 派 息 額 與 當 時 市 價 的 比 例 。
Dollar-cost averaging
【 美 】 成 本 平 均 法
A strategy to invest fixed amounts of money in securities at regular
intervals, regardless of the markets'' movements.
Dow Jones average
杜 瓊 斯 平 均 指 數
There are four Dow Jones averages that track price changes in various
sectors. The Dow Jones Industrial Average tracks the price changes of the
stock of 30 industrial companies. The Dow Jones Transportation Average
monitors the price changes of the stocks of 20 airlines, railroads and
trucking companies. The Dow Jones Utility Average measures the
performance of the stock of 15 gas, electric and power companies. The Dow
Jones 65 Composite Average monitors the stock of all 65 companies that
make up the other three averages.
Dow Jones industrial average
杜 瓊 斯 工 業 平 均 指 數
Often referred to as the Dow, it is the best known and most widely
reported indicator of the stock market''s performance. The Dow tracks the
price changes of 30 significant industrial stocks traded on the New York
Stock Exchange. Their combined market value is equal to roughly 20% of
the market value of all stocks listed on the New York Stock Exchange.
Abbreviated as DJIA.
Down tick
價 位 向 下 調 整
A sale of a listed security that occurs at a lower price than the
previous transaction.
Draft
匯 票 ， 銀 行 匯 票
A signed, written order by one party that instructs another party to pay
a third party a specific amount. It also may be called a bill of
exchange.
Duration
期 間 ， 期 限
A calculation measuring the expected life of a fixed-income security. It
estimates the time required to collect a fixed-income security''s
payments of the principal and interest.
Dutch auction
荷 蘭 式 拍 賣 ， 跌 價 拍 賣
A procedure for buying and selling securities named for a system used for
flower auctions in Holland. A seller seeks bids within a specified price
range, usually for a large block of stock or bonds. After evaluating the
range of bid prices received, the seller accepts the lowest price that
will allow it to dispose of the entire block.
Earnings
收 益 ， 盈 利
Income after a company''s taxes and all other expenses have been paid.
Also called profit or net income.
Earnings Per Share (EPS)
每 股 盈 利
A portion of the company''s earnings allocated to each share outstanding.
Calculated by dividing the number of outstanding shares into earnings.
將 公 司 除 稅 後 的 可 分 配 盈 利 除 以 已 發 行 的 股 數 ， 所 得 的 盈
利 數 目 。
Earnings yield
收 益 率 ， 盈 利 率
A company''s per-share earnings expressed as a percentage of its stock
price. This provides a yardstick for comparing stocks with bonds, as well
as with other stocks.
Economic indicator
經 濟 指 標
Key statistics used to analyze business conditions and make forecasts.
Employee Stock Ownership Plan
員 工 持 股 計 劃
A program encouraging employees to buy stock in their company and thereby
have a greater stake in its financial performance. Abbreviated as ESOP.
Endorsement
背 書
In some forms of insurance, a provision added to a policy to add to or
alter the coverage.
Entitlement
權 利
Government benefits such as Social Security and Medicare that must be
paid to anyone meeting specific eligibility requirements.
Equity
股 東 權 益
In property, it is the difference between the property''s current market
value and the claims against the property. In securities markets, it is
the part of a company''s net worth that belongs to shareholders.
Escalator clause
滑 動 條 款 ， 伸 價 條 款
A clause in a contract providing for increases in costs such as labor
expenses and materials.
Estate tax
【 美 】 遺 產 稅
Taxes levied by the federal and state governments on the transfer of your
assets after you die. Uncle Sam levies estate taxes on the worldwide
assets of both U.S. citizens and U.S. residents.
Eurobond
Bonds issued by a borrower outside its own country. The bonds are
denominated in a currency foreign to the borrower or the purchaser or
both.
Eurocurrency
歐 洲 貨 幣
A deposit in a bank outside the depositor''s country of origin. Most
deposits are U.S. dollar deposits, although nearly all major Western
currencies are represented.
Eurodollar
歐 洲 美 元
Dollar-denominated deposits in banks outside the U.S.
Eurodollar loan
歐 洲 美 元 貸 款
Loans of dollar-denominated deposits in banks outside the U.S. and of
other deposits in banks outside the depositor''s country of origin.
Euromarket
歐 洲 共 同 市 場
A general term for the Eurobond and Euroloan markets.
European Currency Unit
歐 洲 貨 幣 單 位
A monetary unit created in 1979 by nine European nations to promote
currency stability in the European Union. The European Currency Unit
consists of weighted amounts of the national currencies of members of the
European Monetary System. The value of the European Currency Unit in
relation to other currencies is published daily in newspapers. Also
called the ECU.
European Monetary System
歐 洲 貨 幣 體 系
An exchange-rate system adopted by European Union members in an effort to
move toward a unified European currency.
European option
歐 式 期 權
An option that may be exercised only on its expiration date.
Excercise Price
行 使 價
認 股 證 、 期 權 等 認 購 正 股 或 行 使 權 利 的 價 格 。
Exchange
交 易 ， 匯 率
A centralized place for trading securities and commodities, usually
involving an auction process.
Ex-dividend
除 股 息
A period of time immediately before a dividend is paid, during which new
investors in the stock are not entitled to receive the dividend. A
stock''s price is revised lower to reflect the dividend value on the
first day of this period. On that day, a stock is said to "go ex-
dividend."
Executor
遺 囑 執 行 人
The person named in your will to handle the settlement of your estate.
Expense ratio
費 用 比 率
This figure tells you how much a mutual fund charges each year as a
percentage of total fund assets. A fund with a 1.55% expense ratio, for
instance, levies $1.55 for every $100 it has under management. Included
in this figure are the fund''s management fee, shareholder servicing
costs, and any annual 12b-1 fee. A 12b-1 fee, which is named after the
applicable Securities and Exchange Commission regulation, is levied to
pay for the cost of attracting new investors to the fund. The fee may be
used to buy advertising or to compensate brokers who sell the fund.
Expiration date: The date after which an option may no longer be
exercised.
Exports
出 口 貨 品 ， 輸 出 品
Goods and services one country produces and sells to others.
Extraordinary Item
非 經 常 性 項 目 ， 特 殊 帳 項
Expenses or sources of revenue that do not occur on a regular basis, such
as a loss due to a fire or the revenue from the sale of a subsidiary.
在 公 司 年 報 中 ， 非 由 公 司 日 常 營 |
发表于 2004-9-30 07:46:05
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发表于 2004-9-30 08:04:06
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