投资银行学专业术语

1、投 资 银 行 学专 业 术 语a a,b shares a，b 股abs(asset-backed securities) 资产支持证券accounts receivable 应收账款acquisition 收购acting in concert 一致行动active market 活跃市场additional float 扩股administration structure 治理结构adr （american depository receipt ）美国存托凭证affiliate 联营公司agency securities 机构证券american option 美式期权angel cap

2、ital 天使资本annual report 年报annuity 年金appreciation 升值apt(arbitrage pricing theory) 套利定价理论arbitrage 套利arbitrageur 套利者arrears swap 延迟利率互换asset management 资产管理asset-liability ratio 资产负债率auction 拍卖b back-door listing 借壳上市bankers acceptance 银行承兑票据bear market 熊市bear stern 贝尔斯通beta coefficient 贝塔系数bid 买入价bino

3、mial model 二项式模型black&scholes model 布莱克 -斯科尔斯模型block-out period 锁定期blue chip 蓝筹股board of directors 董事会bond 债券bond fund 债券基金bond market 债券市场bond yield plus risk premium approach 债券收益加风险溢价计算法bonus issue 红股派送bonus share 红股book value 账面价值bracket 承销分档brand effect 品牌效应brokerage 经纪业务bull market 牛市busin

4、ess 业务buyer s market 买方市场buyout 收购c call option 买入期权capital cost 资本成本capital market 资本市场capital market instruments 资本市场工具capm (capital asset pricing model) 资本资产定价模型cash bonus 现 金红利cd（ certificate of deposit ）大额存单central market 中央银行charge 抵押china wall 中国墙closing day 截止日期co-lead managers 联合牵头经理人 （主承销商

5、）collateral 抵押品collateralized mortgage obligation 抵押保证证券commercial bank 商 业银行commercial paper 商业票据commission 佣金common stock, common share 普通股company law 公 司法company specific risk 公司自发性风险comparable firm 参照公司competitive bid 竞投competitive bidding 竞价投标conglomerate merger 混 合并购connected transactions 关联交易

6、control right 控 制权conversion 换股，兑换convertible bonds 可转换债券convertible securities 可转换证券corporate bonds 机 构证券corporate finance 企 业融资corporate governance 公司治理cost of capital 资本成本cost of debt 负债成本cost of equity 股 本成本cost of preferred 优先股成本credit rating 信用评级credit risk 信用风险crowding-out swap 货币互换currency f

7、unds 货 币基金currency swap 货币互换current yield 现期收益率d dealer 交易商，经纪debt ratio 负债比率default 违约delisting 出 牌deposit 保 证金depth of the market 市场深度deregulation 撤减监管、监管自由化derivatives 衍生品direct financing 直接融资direct investment 直 接投资disclosure transactions 须予以披露的交易discount 贴 水；折扣；贴现discounted bond 贴水债券discounted c

8、ash flow(dcf) method 贴现现金流计算法diversified risk 可 分散风险dividend payout 红 利支出dividend yield 红利收益率downturn 逆转 , 反转e earning-to-price ratio 收益 - 价格比率efficient portfolio 有效投资组合elasticity 弹性enterprise reform 企 业改制eps(earning per share) 每股盈利equity 股 东权益equity 股 票equity capital 股权资本equity fund 股票基金equity stru

9、cture 股权结构equity value 股 权价值ethics 道 德，执业道德european option 欧 式期权evaluate 评 估exchange fund 外汇基金exchange rate 汇率exclusive sale 代销exercise price 行权价expiration date 到期日exposure 风险承受f fannie mae (federal national mortgage association) 房 利美fault market&trading 欺诈交易fault risk 欺诈风险fees for underwriting

10、承销费用finance company 财务公司financial asset 金融资产financial center 金融中心financial consultancy 财务顾问financial engineering 金融工程financial innovation 金融创新financial institution 金融机构financial instrument 金融工具financial leverage 财务杠杆financial statement 财务报表fiscal policy 财政政策fiscal year 财政年度fitch ratings 惠誉国际 ( 全球三大评

11、级机构之一) flotation 挂牌forward market 远期市场freddie mac ( federal home loan mortgage corporation) 房 贷美free cash flow to equity 股权自由现金流量friendly m&a 善意并购fund creation 基金创设fund management 资金管理fundamental analysis 基础分析funding 融资funding risk 融资风险future market 期货合约futures and options funds 期货及期权基金futures c

12、ontract 期货合约futures exchange 期货交易所g goldman sachs group 高盛government bond 政府债券green shoe 绿鞋（超额配售选择权）greenmail 反收购h h bond h债券，国有企业在香港发行的债券h shares h股，国有企业在香港发行的股票hang seng index 恒生指数hedge fund 对冲基金hedge ratio 对冲比率high risk investment 高风险投资high yield bond 高收益率证券，等同于junk bond high-grade securities 优质证

13、券horizontal merger 横向兼并hostile merger 敌意并购hostile takeover 敌意接管hot money 热钱，游资i index 指数index(constituent) stock 指数成份股index future 指数期货industry 行业，产业industrial structure 产业结构inflation 通货膨胀inflation rate 通货膨胀率information disclosure 信息披露investment bank 投资银行ipo（initial public offerings) 首次公开发行insider i

14、nformation 内幕信息insider trading 内幕交易insurance 保险integrity 诚实，诚信interim results 中期业绩interest rates 利率internal financing 内部融资international bonds 国际债券inventory turnover 存货周转率investment adviser 投资顾问investment bank 投资银行investment grade 投资级别issued capital 发行股本issued price 发行价格j joint venture 合资企业jp morgan

15、摩根大通junk bond 垃圾债券justice, impartial and openness 公平， 公正， 公开（证券市场三公原则) l l stock l 股，国有企业在伦敦上市发行的股份laws and regulations 法律法规lead bank 牵头银行learning-by-doing 干中学legal entity 法人legal interest(in property) （资产的）法定权益legal risk 法律风险lehman brothers holdings雷曼兄弟leverage 杠杆leverage ratio 杠杆率leveraged buyout（

16、lbo）杠杆收购liability management 负债管理libor (london inter-bank offered rate) 伦敦同业拆借利率limited company by shares 股份有限公司liquidity 流动性liquidity ratio 流动比率liquidity risk 流动风险listed company 上市公司listed security 上市证券listing 上市挂牌listing agreement 上市协议listing requirements 上市要求m major bracket 主承销商majority sharehold

17、er 大股东market capitalization 股票市值market efficiency 市场效率market for corporate control 控制权市场market index 市场指数market maker 庄家market network 营销网络market order 市价指令market risk 市场风险market timing 市场时间选择marketable securities 有价证券market-maker 做市商mbo （ management buyout）管理层收购merchant bank 商人银行 （英国投资银行的称呼）merger&

18、amp;acquisition 并购merrill lynch 美林mezzanine bracket 辅承销商mmfs （money market mutual funds ）货币市场共同基金money market 货币市场money supply 货币供应moodys investors service 穆迪投资者服务公司morgan stanley 摩根斯坦利mortgage 抵押，按揭mortgage-backed security 抵押担保证券multi-level 多层次municipal bonds 市政债券mutual fund 共同基金n n shares n股，国有企业在

19、纽约上市发行的股票nasdaq （nasd automated quotation system ）证券交易商协会自动报价系统negotiated bid 协议投标nekkei index 日经指数new issue 新股发行new issue market 发行市场o offer for sale 公开发售offer for subscription 公开招股offer price 发行价on-the-job-training 在职培训open market operation 公开市场操作option 期权over-the-counter 场外交易p perpetual bond 永久债券

20、poison pill defense 毒丸防御preference stock， preferred stock 优先股preferred dividend 优先股红利premium bond 升水债券price-to-book value ratio 市净率法price-to-earnings ratio 市盈率price-to-sales ratio 股价收入法pricing 定价primary market 一级市场priority banking 优先理财银行服务private banking 私人银行服务privatization 私有化process of underwritin

21、g 承销程序profit-ability ratio 盈利能力比率project finance 项目融资prospectus 招股说明书proxy sale(sale on a commission basis) 代销purchase fund 赎回基金put option 卖出期权q quick ratio 速动比率quota 配额quoted company 上市公司r （round）lot 一手range 波幅rat trading 老鼠仓rating 评级red chip 红筹股redemption 赎回rediscount 再贴现refinancing 再融资refund 再融资r

22、einsurance 再保险reinvestment 再投资release 解除，免除repurchase agreement 回购协议reserve 储存，准备金retailing bank 零售银行return 回报率right 股权right issue 供股risk asset 风险资产risk-free rate 无风险利率roa（return on asset）资产回报率road show 路演roe（return on equity ）股东回报率s sales 销售sdr (special drawing right) 特别提款权seasoned issue 二次发行 / 再发行

23、sec（securities&exchange commission ）美国证券交易委员会secondary distribution 二级分销secondary market 二级市场securities law 证券法securities market 证券市场securitization 证券化securitized bond 证券化债券security 证券seller s market 卖方市场selling group 经销集团selling group agreement 经销集团协议selling on the good news 趁好消息出货settlement 结算

24、settlement date 结算日settlement price 结算价share holder 股票持有人share transactions 股票交易share transfer 股份过户short selling 卖空sovereign risk 主权风险speculation 投机speculative grade 投资级别split 拆股standard&poor s corporation 标准普尔公司state-owned enterprise 国有企业status report （信用）状况报告stock 股票stock broker 股票经纪stock exchange 股票交易所stock index 股市指数stock index futures 股指期货stock option 股票期权straight issues 直接发行structured finance 结构金融submajor bracket 次承销商subprime crisis 次贷危机su