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单词 Capital market
释义 資本市場
A market for a large amount of capital available from financial institutions, investment funds, pension funds, insurance funds and private investors. A borrower in a capital market is known as an issuer which usually issues financial documents (known as ‘debt securities’ or ‘instruments’) in return for the money it receives from lenders. The lenders in the capital market are known as ‘investors’ who differ from loan lenders in that they do not have to hold on to the relevant financial instruments until it matures. The size of the capital market refers to the amount of funds available from the participants. The liquidity of a market means tradeability of the securities issued. An illiquid market means the investors are unwilling to trade in the issued securities. It is the presence and sophistication of their capital markets that distinguish developed countries from developing countries. A capital market also includes stock and future markets. See also Bond; Capital market instrument; Futures exchange; Stock market.
由金融機構、投資基金、退休基金、保險基金及私人投資者提供大量資本的市場。資本市場中的借方稱為發行人,通常以發行金融票據(稱為「債務證券」或「證券」)的方式從貸方獲得資金。資本市場中的貸方稱為「投資者」,有別於貸款人,因為他們不必在到期日之前一直持有相關的金融票據。資本市場的規模取決於市場參與者可提供的資金。資本市場的流動程度指已發行證券的可交易性。非流動市場指投資人不願交易已發行證券。資本市場的存在及其高度複雜性使發達國家有別於發展中國家。資本市場亦包括證券和期貨市場。另見 Bond; Capital market instrument; Futures exchange; Stock market。
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更新时间:2024/10/27 3:28:06