The term "equity instrument" as mentioned in these Standards refers to the enterprise's own equity instruments.

本准则所指的权益工具是企业自身权益工具。

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Instead they return an amount based upon the performance of an underlying equity instrument, be it an index, a hedge fund or even a single stock.

FORBES: Another Option

To turn to a specific, currently relevant example, if fixed-interest bonds are bad, but equity investments are acceptable, then what if an investor buys a non-voting equity instrument whose return is based on profit shared between him and the venture--with any profit above 6% given to the venture as a "reward"?

FORBES: Magazine Article

Ten years ago, an investor eager to play the two side by side had essentially one instrument: the convertible bond (debt switchable into equity).

ECONOMIST: Buttonwood