财务管理英语词汇 包括管理会计英语词汇.doc

财务管理英语词汇 包括管理会计英语词汇term stucture of interest rate利率期限结构annuity年金perpetuity永久年金annuity factor年金因子annuity due即期年金future value终值conmpound interest复利simple interest单利continuously compounded rate连续复利率Consumer Price Index(CPI)消费物价指数current dollar当期货币nominal dollar名义货币constant dollar不变货币real dollar实际货币real rate of return实际收益率inflation rate通货膨胀率principal本金deflation滞胀yield to maturity到期收益率market capitalization rate市场资本化率dividend yield红利收益率cost of equity capital权益资本成本payout ratio红利发放率earnings per share(EPS)每股收益return on equity(ROE)权益收益率discount cash flow贴现现金流growth stock成长股income stock绩优股present value of growth opportunity(PVGO)成长机会的现值price-earnings ratio(P/E)市盈率free cash flow(FCF)自由现金流量book rate of return账面收益率capital investment资本投资operating expense经营费用payback period回收期discounted-payback rule贴现回收期法则discounted-cash-flow rate of return贴现现金流量的收益率interna lrate of return(IRR)内部收益率lending贷出borrowing借入profitability measure盈利指标standard of pfofitability赢利标准modified internal rate of return修正内部收益率mutually exclusive projects互相排斥的项目capital rationing资本约束profitability index盈利指标soft rationing软约束partnership合伙企业corporate finance公司财务corporate公司public company公众公司pension fund养老基金board of director董事会separation of ownership and management所有权与管理权的分离limited liability有限责任articles of incorporation公司章程real asset实物资产financial asset金融资产security证券financial market金融市场capital market资本市场money market货币市场investment decision投资决策capital budgeting decision资本预算决策financing decision融资决策financial manager财务经理treasurer司库CFO首席财务官principal-agent problem委托代理问题principal委托人agent代理人agency cost代理成本information asymmetry信息不对称signal信号efficient markets hypothesis有效市场假说present value现值discount factor贴现因子rate of retu rn收益率discount rate贴现率hurdle rate门坎比率opportunity cost of capital资本机会成本net present value净现值cash outflow现金支出net present value rule净现值法则rate-of-return rule收益率法则profit maximization利润最大化doing well经营盈利hard rationing硬约束incremental payoff增量收入net working capital净营运资本sunk cost沉没成本sunk-cost fallacy沉没成本悖论overhead cost间接费用salvage value残值straight-line depreciation直线法折旧Internal Revenue Service国内税收署tax shield税盾accelerated cost recovery system加速成本回收折旧法alternative minimum tax另类最低税tax preference税收优惠accelerated depreciation加速折旧project analysis项目分析equivalent annual cash flow等价年度现金流marginal investment边际投资default risk违约风险risk premium风险溢酬standard error标准误差standard deviation标准差market portfolio市场组合market returm(rm)市场收益率variance方差Delphic德尔菲unique risk独特风险unsystematic risk非系统风险residual risk剩余风险specific risk特定风险diversifiable risk可分散风险market ris k市场风险systematic risk系统风险undiversifiable risk不可分散风险convariance协方差well-diversified有效分散efficient portfolio有效投资组合quadratic programming二次规划best efficient portfolio最佳有效投资组合capital asset pricing model(CAPM)资本资产定价模型security market line证券市场线market capitalization市场资本总额small-cap stocks小盘股book-to-market ration账面-市值比consumption beta消费贝塔consumption CAPM消费型资本资产定价模型risk aversion风险厌恶arbitrage pricing theory套利定价理论sensitivity of each stock to these factors每种股票对这些因素的敏感度three-factor model三因素模型company cost of capital公司资本成本industry beta行业贝塔firm value公司价值debt value负债价值asset value资产价值blue-chip firm蓝筹股financial leverage财务杠杆gearing举债经营financial risk财务风险unlever消除杠杆relative market values of debt(E/V)负债的相对市场价值taxable income应税利润after-tax cost税后成本marginal corporate tax rate公司边际税率after-tax weighted-average cost of capital税后加权平均资本成本cyclicality周期性cyclical firms周期性公司operating leverage经营杠杆revenue收入fixed costs固定成本variable costs可变成本rate of output产出率certainty equivalent确定性等价值certainty-equivalent cash flow确定性等价现金流risk-adjusted discount rate风险相应贴现率underlying variables基础变量sample抽样real option实物期权decision tree决策树timing qption安排期权production option生产性期权option to bail out清算选择权economic rent经济租金future market期货市场capital budget资本预算strategic planning战略规划stock options股票期权private benefit私下利益overinvestment过度投资generally accepted accounting principle(GAAP)公认会计原则delegated委托economic val