【正文】 風險度量Measurement of risk公司戰(zhàn)略的現(xiàn)代概念Modern concept of corporate strategy監(jiān)督Monitoring風險管理的監(jiān)督與改進Monitoring and improvement of risk managementM型企業(yè)組織結(jié)構(gòu)(多部門結(jié)構(gòu))Multidivisional organization structure非杠桿收購Non leveraged buyout法律風險Litigation risk長期目標Longterm objective維持成本Maintenance cost管理信息系統(tǒng)Management information system市場開發(fā)——現(xiàn)有產(chǎn)品和新市場Market development existing product and new market市場滲透——現(xiàn)有產(chǎn)品和現(xiàn)有市場Market penetration existing product and existing market重要缺陷Material deficiency內(nèi)部控制Internal control多國本土化戰(zhàn)略International subsidiaries strategy國際戰(zhàn)略Internationalization strategy資源的不可替代性Irreplaceable resources高長型結(jié)構(gòu)High growth structure橫向并購Horizontal merger and acquisition增量預(yù)算Incremental budgeting產(chǎn)品生命周期Industry life cycle產(chǎn)業(yè)風險Industry risk信息與溝通Information and munication一體化戰(zhàn)略Integrated strategy后向一體化戰(zhàn)略Integrated strategy Backward前向一體化戰(zhàn)略Integrated strategy Forward橫向一體化戰(zhàn)略Integrated strategy Horizontal縱向一體化戰(zhàn)略Integrated strategy Vertical產(chǎn)業(yè)內(nèi)現(xiàn)有企業(yè)的競爭Intensity of industry rivalry擔保業(yè)務(wù)Guarantee businessH型結(jié)構(gòu)(控股企業(yè)／控股集團組織結(jié)構(gòu))H type organization structure (Holding pany/Group organization structure)高經(jīng)營風險與高財務(wù)風險搭配High business risk, high financial risk增長型戰(zhàn)略Growth strategy職能制組織結(jié)構(gòu)Functional organization structure職能戰(zhàn)略Functional strategy資金活動Fundrelated activities實地查驗Field inspection財務(wù)風險與經(jīng)營風險的搭配Financial risk and business risk內(nèi)部控制的五大要素Five elements in internal control產(chǎn)業(yè)五種競爭力Five forces in the petitive approach集中化戰(zhàn)略Focus strategy壟斷優(yōu)勢理論Dominance advantage theory每股盈余或市凈率Earnings per share or price to book ratio全面風險管理Comprehensive risk management收縮戰(zhàn)略Contraction strategy控制活動Control activities控制環(huán)境Control environment公司治理Corporate governance總體戰(zhàn)略Corporate strategy成本領(lǐng)先戰(zhàn)略Cost leadership strategy懲治成本Cost of punishment損失成本Cost of total loss風險管理成本與效益Costs and benefits of risk management信用風險Credit risk文化與績效Culture and performance客戶細分或市場細分事業(yè)部制結(jié)構(gòu)Customer segmentation/Market segmentation business structure消費動機Customer’s motivation負債和杠桿作用Debt and gearing analysis藍海戰(zhàn)略Blue Ocean strategy波士頓矩陣Boston matrix業(yè)務(wù)單位戰(zhàn)略（競爭戰(zhàn)略）Business (Competitive) strategy經(jīng)營目標Business objectives運營風險Business risk業(yè)務(wù)單元Business unit 事業(yè)部制組織結(jié)構(gòu)Business unit organization structure戰(zhàn)略變革Change management in strategy銷售數(shù)量Sales volume股東權(quán)益增長率Shareholders’ equity growth ratio短缺成本Shortage cost證券市場線Security market line(SML)標準成本Standard cost股票股利Stock dividend股價最大化Stock price maximization股票回購Stock repurchase股票分割Stock split儲存成本Storage cost沉沒成本Sunk cost可持續(xù)增長率Sustainable growth rate系統(tǒng)風險（市場風險、不可分散風險）Systematic risk (Market risk/Nondiversifiable risk)目標資本結(jié)構(gòu)Target capital structure時間溢價Time premium貨幣的時間價值Time value of money固定成本總額Total fixed cost標的資產(chǎn)Underlying assets包銷Underwrite單位銷售價格Unit sales price單位變動成本Unit variable costs股價上行乘數(shù)Upstream price multiplier變動成本率Variable cost ratio加權(quán)平均資本成本W(wǎng)eighted average cost of capital(WACC)營運資本投資Working capital investment在產(chǎn)品Workinprogress長期債券Longterm bond制造費用預(yù)算Manufacturing overhead budget邊際貢獻率Marginal contribution ratio市場組合Market portfolio市場價格Market price市價稀釋Market price dilution市場風險溢價Market risk premium債券到期日Maturity date市場增加值Market value added(MAV)最大最小法Maximin method企業(yè)價值最大化Maximization of firm’s value股東財富最大化Maximization of shareholders’ wealth混合成本Mixed cost互斥項目Mutually exclusive projects/events流通債券Negotiable bond凈財務(wù)杠桿Net financial leverage凈租賃Net lease營業(yè)現(xiàn)金凈流量Net operating cash flows銷售凈利率Net profit margin凈現(xiàn)值法NPV method凈現(xiàn)值Net present value(NPV)經(jīng)營租賃Operating lease經(jīng)營杠桿Operating leverage機會成本Opportunity cost期權(quán)價值Option value訂貨提前期Order lead time訂貨成本Ordering cost普通年金（后付年金）Ordinary annuity債券面值Par value/Face value回收期法Payback period method股利支付日Payment date 應(yīng)稅所得Taxable ine 應(yīng)稅項目Taxable item 納稅期間Taxable period對股息征稅Taxation of dividends 免稅收入Taxexempt ine 免稅稅目Taxexempt item 免稅利潤Taxexempt profit 含稅價格Taxincluded price 納稅人Taxpayer 土地使用稅Urban landuse tax增值稅Value added tax(VAT) 土地增值稅Valueadded tax on land/Land appreciation tax 增值稅減免VAT exemption or reduction 車船稅Vehicle and vessel tax 車輛購置稅Vehicle purchase tax 扣繳義務(wù)人Withholding agent 代扣代繳稅款Withholding and remitting tax 預(yù)提所得稅Withholding ine tax 零稅率Zero tax rate 財務(wù)成本管理應(yīng)收賬款周轉(zhuǎn)次數(shù)Accounts receivable turnover應(yīng)收賬款周轉(zhuǎn)天數(shù)Accounts receivable turnover days取得成本Acquisition cost實際增長率Actual growth rate實際利率Actual interest rate配股后每股價格Afterallotment price per share配股權(quán)價值A(chǔ)llotment option value配股價格Allotment price預(yù)付年金（即付年金、期初年金）Annuity due會計報酬率法Accounting rate of return(ARR)平均交貨時間Average delivery time貝塔（β）系數(shù) Beta coefficient債券評級Bond rating債券估價Bond valuation每股凈資產(chǎn)Book value per share(BPS)盈虧臨界點Breakeven point保險儲備（安全存量）Buffer inventory資本支出Capital expenditure持有成本Carrying cost現(xiàn)金預(yù)算Cash budget現(xiàn)金股利Cash dividend現(xiàn)金流量利息保障倍數(shù)Cash flow interest coverage ratio經(jīng)營活動現(xiàn)金流量Cash flows from operational activities混合租賃Combination lease傭金Commission普通股Common stock補償性余額Compensating balance復(fù)利Compound interest全面預(yù)算Comprehensive budget企業(yè)價值評估Corporate valuation成本性態(tài)Cost behavior成本中心Cost centre成本的歸集和分配Cost collection and allocation資本成本Cost of capital稅后債務(wù)成本Cost of debt after tax成本差異Cost variance平息債券Coupon bond債券票面利率Coupon interest rate流動資產(chǎn)周轉(zhuǎn)次數(shù)Current assets turnover流動資產(chǎn)周轉(zhuǎn)天數(shù)Current assets turnover days流動比率Current ratio本期收入乘數(shù)Current sales multiplier債務(wù)市場Debt market/Bond market資產(chǎn)負債率Debttoasset ratio產(chǎn)權(quán)比率Debttoequity ratio股利宣告日Declaration date財務(wù)杠桿系數(shù)Degree of financial leverage(DFL)直接租賃