- •Пензенский государственный университет economics
- •Пенза 2005
- •Glossary
- •Introduction
- •Exercises
- •Text 2 Entrepreneurs
- •Exercises
- •Text 3 The Elements of Risks
- •Exercises
- •Discussion
- •Unit II. Small-scale business Glossary
- •1. Translate the following derivatives paying attention to the suffixes:
- •Text 1 The Sole Proprietorship
- •Exercises
- •Text 2 Limitations to the Size of Proprietorship (1)
- •Exercises
- •Text 3 Limitations to the Size of Proprietorship (2)
- •Exercises
- •Text 4 The Partnership
- •Exercises
- •Discussion
- •Unit III. Large-Scale Business Glossary
- •1. Choose several principles to arrange the words into groups.Translate the words:
- •Text 1 The Corporation
- •Exercises
- •3. Give derivatives of the following words and translate them:
- •Text 2. Organization of the Corporation
- •Exercises
- •3. Give derivatives of the following words and translate them:
- •Text 3. Organization of the Corporation II
- •Exercises
- •Unit IV. Securities and the Organization of the Corporation Glossary
- •Text 1. Organization of the Corporation III
- •Exercises
- •Text 2. Bonds
- •Exercises
- •Text 3. Leverage
- •Discussion
- •Unit V. Financial Aspects of Corporation Glossary
- •Text 1. Corporate Finance
- •Exercises
- •Text 2. The Securities and Exchange Commission
- •Exercises
- •Text 3. Concentration of Control
- •Exercises
- •Text 4. Management Control
- •Exercises
- •Discussion
- •Unit VI. Evaluating Performance of the Firm Glossary
- •Text 1 The Balance Sheet
- •Exercises
- •Text 2 The Income Statement
- •Exercises
- •Discussion
- •Unit VII. The Importance of the Corporation Glossary
- •Text 1 The Number of Corporations
- •The Size of Corporations
- •Exercises
- •Text 2 Size of Firm Vs. Size of Plant
- •Exercises
- •Text 3 Specialized Management
- •Exercises
- •Text 4 Other Reasons for Larger Firms
- •Exercises
- •Discussion
- •Review tasks
- •Literature
- •Contents
Exercises
1. Find the English equivalents in the text:
учреждать корпорацию, группа инвесторов, вносить наличные деньги, вновь учрежденная компания, увеличить фонд, потенциальный акционер, возможный покупатель, пакет акций, доля в акционерном капитале, инвестиционный банк, финансовое учреждение, ценные бумаги, брать оптом, продавать в розницу, взимать комиссионные, выпускать новые акции, увеличить капитал, умножить собственность, реклама, выпустить ценные бумаги.
2. Find the synonyms of the following words in the text:
firm, to found, proprietor, to invest, money, stock, organization, enough, investor, to collect, work, establishment, investment, to output, principal.
3. Give derivatives of the following words and translate them:
corporate, to establish, to contribute, to arrange, to promote, to buy, to secure.
4. Give possible translations of the words:
number, arrangement, security(ies), block, holding, commission.
5. Write definitions for the following notions:
corporation, cash, prospective buyer, prospective investor, investment bank, corporate securities, to sell at retail, to take at wholesale, to issue shares, advertisement.
6. Answer the questions:
1. When do the owners contribute cash or property to the company?
2. What is the job of investment banks?
3. How are investment banks called? Why?
4. What role do advertisements play for the work of investment banks?
7. Render into English:
Когда число инвесторов невелико, то они вносят в корпорацию наличные деньги или собственность в обмен на акции. Основатели крупных корпораций не знают предполагаемых акционеров. Тогда их контакты осуществляются через инвестиционный банк. Инвестиционные банки оптом покупают ценные бумаги у корпораций, разбивают их на мелкие вклады и в розницу продают покупателям. За эту услугу они берут комиссионные. Реклама о новом выпуске корпорацией ценных бумаг часто дается на страницах финансовых газет.
Text 2. The Securities and Exchange Commission
1. Read Paragraph 1. State the referents of these.
2. Find the lines to prove that information really has a high price.
3. List the functions of SEC.
4. Read the text and say if the securities market is safe in the USA.
5. Translate the text.
The buyer of a security invests his wealth to become one of the owners of the firm. Yet, he is often remote from the actual operation of the company, and may lack the information necessary to make a sound judgment concerning the investment. Frequently, he only knows about the company and its prospects what the management or the investment banker tells him. Since these have special interests in encouraging him to buy the stock, he needs some assurance that he is told everything he needs to know.
To make sure that perspective stockholders are fully informed is one of the duties of the Securities and Exchange Commission (SEC). SEC is a federal agency established by the Securities Exchange Act of 1934. Before a corporation can offer a new issue of securities for sale to the public, it must file a registration statement and a prospectus with the Commission. The registration statement must disclose such matters as “the names of the persons who participate in the management or control of the … business; the security holdings and remuneration of such persons; the general character of the business, its capital structure, past history and earnings; underwriters’ commissions; payment to promoters made within 2 years (or intended to be made); the interests of directors, officers, and principal stockholders in material transactions; pending or threatening legal proceedings; … the purpose to which the proceeds of the offering are to be applied; and … financial statements certified by independent accountants.” The prospectus is part of the registration statement and embodies the more important of the required disclosures.
The SEC staff examines the registration statement and prospectus for accuracy and completeness. Unless it is found to be misleading, inaccurate, or incomplete, the registration becomes effective, and the security can be offered for sale.