进行商业、特别是投资决策时，将商业风险和未来现金流折扣(即资金的时间价值)考虑在内。
It takes into account commercial risk and discounts future cash flows (that is, it takes into account the time value of money) when making commercial, and particularly investment, decisions.
证券化的知识诉讼案子，聚集大量不同贷款以及将现金流卖给投资者的做法，依然很多。
The intellectual case for securitisation, the process of pooling lots of different loans and selling the cashflows to investors, remains strong.
这多少是可以理解的。正如奎克所言，学术休假并不会直接带来稳固的现金流，也不会立即带来投资收益。
This is somewhat understandable, for, as Quick puts it, sabbaticals don't result in a concrete cash flow exchange or an immediate return on investment.
哈克尔认为，发现资本成本变化的能力将给我们带来卓越的长期投资回报，而不只是企业在某特定季度中自由现金流超过预期的一时惊喜。
Hackel believes the ability to spot changes to cost of capital will bring superior performance over the long term, not a firm's free cash flows exceeding expectations in a given quarter.
然而，一些影响力投资方仍然不愿意签署：他们认识到这种系统将提供的保护，但他们都不愿承担任何可能减缓现金流带来的后果。
Yet some impact investment funds are still reluctant to sign up: they recognise the protection such a system would offer; but they are reluctant to commit to anything that might slow the cash flow.
我的商业计划可能不会有利可图，但是对于战略收购者具有非常大的价值——稳定的现金流对于投资人是最重要的。
My business plan may not lead to a profitable business but it has significant value to strategic acquirers - consistent cash flows are the most important thing to investors.
因此一旦现金流不及利息支出所需，这些证券就面临重组——而持有这些债券的投资者将付出高昂代价。
So if the cash flows fall short of the interest payments, they need to be restructured — at a big cost to the investors who own them.
一个拥有现金流，商业操作记录和真实的经验的公司往往比那些在计划书中预计给投资者巨额回报的公司更容易融到资金。
A company with cash flow, a track record and real-world experience has a better chance of getting investors than a business plan forecasting large returns.
根据初步协议的条款，英国石油将可以在今后数年内逐步向该基金注入全部金额，以免产生过大的现金流压力，保持其财务生存能力，同时使投资者过度慌张。
The preliminary terms would give BP several years to deposit the full amount into the fund so it could better manage cash flow, maintain its financial viability and not scare off investors.
该投资者把钱投入项目，并获得项目现金流及税收抵扣作为回报。
The investor puts money into the project and receives a combination of project cash flow and tax credits in return.
图1.1描绘了财务经理在这一过程中的角色。从图中我们可以看到，现金流从投资者开始，进入到公司的手中，最后再返回到投资者。
The financial manager’s role isillustrated in Figure 1.1, which traces the flow of cash from investors to thefirm and back to investors again.
“如果银行无法找到有投资收益的资产，他们的账本就要缩水，账本上的现金流也会减少，”机构风险分析公司的瓦伦热认为。
"When Banks can't find yielding assets and their book is shrinking, the cash flow on their book is shrinking," said Whalen of Institutional Risk Analytics.
因循守旧前所未有，投资人，董事和经理们用现金流模型评价表现，而这种评估方式已远远落伍。
The rot reached the top, with investors, directors and managers evaluating performance using cashflow models that were so long-dated that they broke even after their authors planned to retire.
比如经验老道的投资者沃利•威茨就认为，虽然从目前的股价来看，市场都说惠普已经破产了，但是在他看来，惠普尽管受到重创，但它仍是一个坚实可靠的科技巨头，在打印机和服务领域也有坚实的循环现金流。
Veteran Wally Weitz thinks at its current share price, the market is saying HP is broken. He sees a solid, albeit banged-up, tech giant with solid recurring cash flows in printers and services.
有些投资者（如银行和保险公司）可能会因为监管或者足够现金流的原因倾向于拥有高评级（AAA）债券。
Some investors (such as banks andinsurance companies) may prefer to own the highest-rated (AAA)debt for regulatory or solvency reasons.
如果你去问任何一个做长线的房地产投资者，他们会告诉你做这行得以生存下来的最重要的三个字：现金流。
Ask anyone in real estate long term (or any other business, for that matter) and they will tell you the two most important words for survival are: "cash flow."
所以当我们从这个家伙(Jim Breyer, facebool的投资人)那里得到些钱之后，我们决定有几个月可以让现金流出现负值，可是···(jim)基本上可以说没什么现金流。
After we took some money from this guy, we decided that it is ok to go a few months in casual negative. While (Jim) Barely any cash flow.
项目贷款是指基于项目现金流为还款来源而不是投资者资产的固定资产或工业项目长期贷款。
Project finance is the long term financing of infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of the project investors.
价值评估机制是风险投资战略联盟的重要机制，传统现金流分析法难以准确评估高新技术企业的价值，但期权定价理论却可弥补传统定价方法的不足。
The traditional cash flow analysis method hardly assess the value of high tech enterprise correctly, while the option pricing theory can compensate the traditional pricing method shortage.
最显而易见的风险是投资者不能确保该资产能否产生出发行者所许诺的现金流：科技在进步，时尚在改变，对甜品的需求或许将不覆存在。
The most obvious risk is that the investors cannot be sure that the assets will yield what borrowers promise: technology moves on, fashions change and the demand for sugary snacks may collapse.
嵌入期权作为镶嵌在债券结构中允许发行者或投资者改变债券未来现金流特征的条款，它是具备价值的，并构成债券价值的一部分。
As provisions which are embedded in corporate bonds and allow issuers or investors to change their future cash flow, the embedded options are valuable and become a part of corporate bonds value.
这是一个看上去更靠谱的方案，因为投资者喜欢稳妥行事，现金流能有所保证。
It's a more plausible scenario because investors like safe bets with nearly guaranteed cash flows.
如果投资额很大，自由现金流可以为负值。
投资者分析公司收益质量时，应判断报告信息与公司行为决策是否相关，正确分析公司所选择的会计政策，重点关注公司的现金流（量）和非经常性收益，并进行一定的分析论证。
This paper studies the preparation of cash flow statements, which is important not onlyin the teaching of Accounting Standard for Business Enterprises-Cash Flow Statements but also in practice.
投资者分析公司收益质量时，应判断报告信息与公司行为决策是否相关，正确分析公司所选择的会计政策，重点关注公司的现金流（量）和非经常性收益，并进行一定的分析论证。
This paper studies the preparation of cash flow statements, which is important not onlyin the teaching of Accounting Standard for Business Enterprises-Cash Flow Statements but also in practice.
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