●The foreign exchange market is a market for converting the currency of one country into that of another country.
●The exchange rate is the rate at which one currency is converted into another.
●Two main functions of the foreign exchange market:
情长歌1、is ud to convert the currency of one country into the currency of another
假如时光倒流2、provide some insurance against foreign exchange risk (the adver conquences of unpredictable changes in exchange rates)
●Spot Exchange Rate 即期汇率:The rate at which a foreign exchange dealer converts one currency into another currency on a particular day.
●Forward Exchange Rate 远期汇率:Two parties agree to exchange currency and execute the deal at some specific date in the future.
●Currency Swap 掉期（货币互换）:The simultaneous purcha and sale of a given amou
nt of foreign exchange for two different value dates.
●international monetary system: Refers to the 皮亚杰简介institutional arrangements that govern exchange rates.
● currency speculation：焙茶the short-term movement of funds from one currency to another in the hopes of profiting from shifts in exchange rates
●A floating exchange rate system 浮动汇率 exists when a country allows the foreign exchange market五行方位 to determine the relative value of a currency.
●A pegged exchange rate system 钉住汇率 exists when a country fixes the value of its currency relative to a reference currency.
●A dirty float 管理浮动 exists when a country tries to hold the value of its currency within some range of a reference currency such as the U.S. dollar.
五年级下册数学书●A fixed exchange rate system 固定汇率 exists when countries fix their currencies against each other at some mutually agreed on exchange rate.
安全管理部●Investors include corporations with surplus cash, individuals, and non-bank financial institutions.
●Borrowers include individuals, companies, and governments.
●Markets makers are the financial rvice companies that connect investors and borrowers, either directly or indirectly.
●Capital market loans can be equity (stock) or debt ( cash loans or bonds).
Equity (stock) Loans 股权融资 An equity loan is made when a corporation lls stock to investors. (dividends, stock price)
Debt ( cash loans or bonds) Loans 债券融资 A debt loan requires the corporation to repay a predetermined portion小鲤鱼历险记2 of the loan amount (the sum of the principal plus the specified interest) at regular intervals regardless of how much profit it is making.
●A Eurocurrency欧洲货币 is any currency banked outside of its country of origin.
About two-thirds of all Eurocurrencies are Eurodollars (dollars banked outside the United States).
●Foreign bonds外国债券 are sold outside the borrower’s country and are denominated in the currency of the country in which they are issued.
●Eurobonds欧洲债券 are underwritten by a syndicate of banks（国际银团）and placed in countries other than the one in who currency the bond is denominated.
●A firm’s strategy refers to the actions that managers take to attain the goals of the firm.
一个企业的战略可定义为管理人员为达到企业的目标而采取的行动。
●Profitability can be defined as the rate of return the firm makes on its invested capital.
盈利能力可以被定义为公司投资资本收益率。
●Profit growth is the percentage increa in net profits over time.
●A firm’s operations can be thought of a value chain compod of a ries of distinct value creation activities, including production, marketing, materials management, R&D, human resources, information systems, and the firm infrastructure.
公司的运营可以被看作一系列诸如生产，营销和销售，原材料管理，研发，信息系统以及企业基础结构等。
●primary activities (R&D, production, marketing and sales, customer rvice)
基本的活动 包括研发，生产，销售和营销，和顾客服务。
●support activities (information systems, logistics, human resources and infrastructure)
支持性活动 包括信息系统，物流，人力资源和基础设施。
●The experience curve refers to the systematic reductions in production costs that have been obrved to occur over the life of a product.
经验曲线指的是在产品生命周期内所观察到的生产成本有规律的下降。
●Learning effects are cost savings that come from learning by doing.
学习效率指的是成本的节省源于在实践中学习。
●Economies of scale refer to the reductions in unit cost achieved by producing a large volume of a product.
经济规模指通过大量生产实现产品单位成本的下降。
●Organizational architecture refers to the totality of a firm’s organization.
Organizational Structure:
the formal division of the organization into subunits
the location of decision-making responsibilities within that structure (centralized versus decentralized)
the establishment of integrating mechanisms to coordinate the activities of subunits including cross-functional teams or pan-regional committees
