财务管理专业英语练习题.docVIP

专业英语作业 Topic 1: Agency is an area of commercial institution dealing with a contractual or quasi-contractual, or non-contractual set of relationships when a person, called the agent, is authorized to act on behalf of another (called the principal) to create a legal relationship with a third party. Money market is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames. Capital market is a market for securities (debt or equity), where business enterprises and governments can raise long-term funds. It is defined as a market in which money is provided for periods longer than a year. Spontaneous financing refers to the automatic source of short term funds arising in the normal course of short term course of business. Trade credit and out standing expenses are examples of spontaneous financing. Financial intermediary is a financial institution that connects surplus and deficit agents. Secured loan is a loan in which the borrower pledges some asset as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. Unsecured Loan A loan that is issued and supported only by the borrowers creditworthiness, rather than by some sort of collateral. Marketability is a measure of the ability of a security to be bought and sold for a price at which similar items are dealling. Perpetuity is an annuity that has no end, or a stream of cash payments that continues forever. Hedge-matching In asset management, the coordination of an organizations cash inflows with cash outflows by matching the maturity of income generating assets (such as certificates of deposit) with the maturity of interest incurring liabilities (debts). Topic 2: 美国IBM从1984年左右开始由兴到衰，由年盈利66亿美元到1992年亏损达49.7亿美元。衰落的一个主要原因是失效的董事会监督。一般而言，董事会监督是公司内部治理结构的一大制衡力量：董事会有权罢免董事长，影响重大经营问题的决策。然而，在IBM公司，其原来的董事会中3/4成员基本上只起装饰作用，他们虽然是知名的人物，但很少真正关心公司的经营状况，董事会已沦为形式。 IBM corporate reached a turning point in