杠杆比率的中文解释

英文亦称为leverage，大致有以下两种含义：1.指公司依赖债务融资的程度，最常用的比率为负债权益比率(debt-equity ratio)，等于长期债务除以股东权益。 杠杆比率亦是反映公司偿债能力的一个指标。比率越高，意味着公司越容易受景气变动的冲击，股东所承受的风险也较高，因此会要求较高的回报。杠杆比率是否处于可接受的水平，通常视与同业相比较的结果。2.在金融衍生工具市场，杠杆比率是期货或期权仓位所代表的实际价值与建立仓位所付出的现金额的比率。 杠杆比率越高，市场价格每单位的变动可带来的盈利或亏损就越大，意味着投资风险较高，走势有利时会大有斩获，不利时则很可能血本无归。

Gearing的英文解释

1. The ratio of a company's debt to equity. Gearing is an indicator of a company's ability to service its debt. A company with a high proportion of debt to equity (high gearing) is more vulnerable to fluctuations in business activity. It therefore represents higher risk for equity holders and offers greater return. Whether gearing is acceptable or not is often judged by comparisons with companies in similar industries or sectors. 2. In derivatives markets, gearing is the measure of the amount of cash spent purchasing an option or a futures contract, compared to the actual value of the underlying position. The more highly geared the trading position the greater the risk that a small change in market prices will completely wipe out the cash investment. That also means that a small change in market prices in the right direction can produce large profits in relation to the size of the cash investment. Gearing is also known as leverage.

• ability [ə´biliti]   n.(办事)能力；才干   (初中英语单词)
• proportion [prə´pɔ:ʃən]   n.比率 vt.使成比例   (初中英语单词)
• therefore [´ðeəfɔ:]   ad.&conj.因此；所以   (初中英语单词)
• measure [´meʒə]   n.量度；范围 vt.测量   (初中英语单词)
• amount [ə´maunt]   n.总数；数量 v.合计   (初中英语单词)
• actual [´æktʃuəl]   a.现实的；实际的   (初中英语单词)
• investment [in´vestmənt]   n.投资；(时间等)投入   (初中英语单词)
• acceptable [ək´septəbəl]   a.可接受的；合意的   (英语四级单词)
• equity [´ekwiti]   n.公平；公正   (英语六级单词)
• underlying [,ʌndə´laiiŋ]   a.基础的；下层的   (英语六级单词)