The results show that divestitures can increase the parent s shareholders wealth when the spun-off incorporated firm value exceeds the unincorporated firm value,and that the value created by corporate spin-offs is the increase in the value of the put option of parent shareholders stock.
结果表明:当分拆后的母公司股票的卖出期权价值大于未分拆状态时的母公司股票的卖出期权价值时,分拆就能为母公司股东创造价值;公司分拆所创造的价值是母公司股票卖出期权价值的增加,来源于公司对负协同效应进行调整所获得价值的现值。
If they sell a currency forward without buying forward at the same time, this is called short.
如果他们只卖出远期外汇，而不同时买进远期外汇，那就称作空头。
with a forward contract you have to deal at the market rate now.
远期外汇买卖只能按市场价进行，
spot and forward
即期外汇与远期外汇
You can't cover that kind of risk with a forward contract
这里，你不能用远期外汇买卖来弥补这个风险，
since they can simultaneously buy or sell forward for every maturity,
因为他们能够为每一到期的票据(帐单)同时买进或卖出一笔远期外汇合同，
Provisions on Administration of Buy and Sale of Spot and Forward Foreign Exchange by Financial Institutes on Clients' Behalf
金融机构代客户办理即期和远期外汇买卖管理规定
Mr Hunter, the forward, futures and option markets for foreign exchange belong to the innovation of the financial market,
亨特先生，远期外汇市
Well, it would be difficult to overstate the importance of the forward,
嗯，很难对远期外汇市
The Accounts Department does all the covering of forward exchange.
财会处负责远期外汇。
Transaction Costs Hedger s Attitude to Risk and Variance of Exchange Rate: Hedging with Forwards/Futures;
利用远期/期货交易对进出口外汇套期保值的分析
Under this method, the seller issues a time (or usance) draft, for instance, a draft at 60 days' sight.
在这种方式下，卖方开具远期付款汇票，比如说，60天远期汇票。
When the designated financial agency is entrusted by a client to buy and sell spot or forward foreign exchange, the client shall provide performance guarantee.
指定的金融机构受客户委托代办即期和远期外汇买卖时，客户应当提供履约担保。
Right. In fact, forward foreign exchange contracts specify this rate,
对。事实上，远期外汇合同中规定汇率，
Who knows what forward foreign exchange rate is?
谁知道远期外汇汇率是怎么回事？
Long-term Foreign Exchange Hedging Foreign Exchange Risk Management in the Logistics of the Application;
外汇远期套期保值在物流外汇风险管理的应用
The seller exten[ color= Red] ds[/ color] credit to a time draft.
卖方已将付款方式由信用证扩展到远期汇票。
I see. I think the forward exchange market is very important for the exporter and importer,
我明白了。我认为远期外汇市场对于进、出口商很重要，
Transaction in the foreign exchange market may be either spot or forward.
外汇市场上的交易，不是即期，就是远期。