|
|
|
|
|
|
|
|
|
Pro forma earnings
| Глоссарий экономических терминов |
Often used in two ways. first, pro forma earnings refers to projections of earnings. this is often used internally or on a road show for an ipo. second, it refers to a way of reporting earnings that excludes non-recurring items such as restructuring charges, extraordinary items.
|
|
Restructuring, английский
- Реструктуризация
- The reconfiguration of the vertically integrated energy monopolies. restructuring usually refers to separation of the various utility functions into individually operated and owned entities.
- The reorganization of a company in order to attain greater efficiency and to adapt to new markets. major corporate restructuring transactions include mergers, acquisitions, tender offers, leveraged buyouts, divestitures, spin-offs, equity carve-outs, liquidations and reorganizations.
- The separation of functions in a vertically integrated firm, leading to the unbundling of services. the owners and operators of the newly configured firms are now distinct entities. such a policy can arise if segments of the industry are viewed as potentially competitive. also, such vertical disintegration may be done to achieve better information regarding performance of components in the vertical chain. alternatively, accounting separations may be required instead of moving to more dramatic restructuring.
- Структурная перестройка (предприятий, экономики)
- Restructuring is the process of changing the way an organization operates to improve its efficiency and profitability.
|
Risk-adjusted return, английский
Often we subtract from the rate of return on an asset a rate of return from another asset that has similar risk. this gives an abnormal rate of return that shows how the asset performed over and above a benchmark asset with the same risk. we can also use the beta of the asset multiplied by the benchmark return to create a hypothetical asset that has the same risk characteristics. the difference between the asset return and the beta times the benchmark is the risk adjusted return and is also known as the alpha.
Saturday night special, английский
Often used in risk arbitrage. sudden attempt by one company to take over another by making a public tender offer.
|
|
|
|
|
|
|
