American Depository Receipt

简明释义

美国预托收据

英英释义

例句

1.Many tech companies from Asia are now trading via American Depository Receipts (美国存托凭证).

许多来自亚洲的科技公司现在通过美国存托凭证（美国存托凭证）进行交易。

2.Investors can buy shares of foreign companies through an American Depository Receipt (美国存托凭证).

投资者可以通过美国存托凭证（美国存托凭证）购买外国公司的股票。

3.The American Depository Receipt (美国存托凭证) allows U.S. investors to invest in stocks not listed on American exchanges.

通过美国存托凭证（美国存托凭证），美国投资者可以投资于未在美国交易所上市的股票。

4.The price of the American Depository Receipt (美国存托凭证) reflects the value of the underlying foreign stock.

美国存托凭证（美国存托凭证）的价格反映了基础外国股票的价值。

5.To buy an American Depository Receipt (美国存托凭证), you need a brokerage account that supports international investments.

要购买美国存托凭证（美国存托凭证），您需要一个支持国际投资的经纪账户。

作文

In the world of finance, various instruments are used to facilitate international investment and trade. One such instrument is the American Depository Receipt, commonly abbreviated as ADR. An American Depository Receipt is a negotiable certificate issued by a U.S. bank that represents shares in a foreign company's stock. It allows American investors to buy shares in foreign companies without dealing with the complexities of foreign stock exchanges. This financial tool has become increasingly popular as globalization has expanded investment opportunities across borders.The primary advantage of an American Depository Receipt is its ability to simplify the investment process for U.S. investors. Without an ADR, investing in a foreign company would require navigating through foreign regulations, currency conversions, and different trading practices. However, with an ADR, investors can purchase these receipts just like they would purchase shares of a domestic company, making it much easier to gain exposure to international markets.ADRs are typically issued in two forms: Level 1 and Level 2/3. Level 1 ADRs are traded over-the-counter and do not require the same level of regulatory compliance as Level 2 or Level 3 ADRs. The latter two are listed on major U.S. exchanges, such as the New York Stock Exchange (NYSE) or NASDAQ, and must adhere to stricter reporting requirements set by the Securities and Exchange Commission (SEC). This distinction is essential for investors to understand, as it can affect the liquidity and visibility of the investment.Another important aspect of American Depository Receipts is their pricing structure. The price of an ADR is usually based on the underlying foreign stock's value, adjusted for the exchange rate and the ratio of ADRs to the actual shares. For instance, one ADR might represent multiple shares of the foreign stock, which can significantly impact the price and trading volume of the ADR itself.Investors should also be aware of the potential risks associated with investing in ADRs. While they offer a convenient way to invest in foreign companies, they are still subject to the same market fluctuations and economic conditions as the underlying foreign stocks. Additionally, factors such as political instability, currency risk, and changes in foreign regulations can also affect the performance of ADRs. Therefore, thorough research and understanding of the foreign company and its market environment are crucial before investing.In conclusion, the American Depository Receipt serves as a vital bridge between U.S. investors and foreign markets. By simplifying the investment process and providing a means to invest in international companies, ADRs have opened up a world of opportunities for American investors. However, like any investment, they come with their own set of risks and considerations. Understanding how ADRs work, their types, pricing structures, and associated risks is essential for anyone looking to diversify their investment portfolio with international assets.

在金融世界中，各种工具被用于促进国际投资和贸易。其中一种工具是美国存托凭证，通常缩写为ADR。美国存托凭证是一种由美国银行发行的可交易证书，代表外国公司股票的股份。它允许美国投资者购买外国公司的股份，而无需处理外国证券交易所的复杂性。随着全球化扩展了跨境投资机会，这种金融工具变得越来越受欢迎。美国存托凭证的主要优点是能够简化美国投资者的投资过程。如果没有ADR，投资外国公司将需要应对外国法规、货币兑换和不同的交易惯例。然而，有了ADR，投资者可以像购买国内公司的股票一样购买这些凭证，从而更容易获得国际市场的投资机会。ADR通常分为两种形式：第一级和第二级/第三级。第一级ADR在场外交易，不需要与第二级或第三级ADR相同的合规性。后两者在主要的美国交易所上市，如纽约证券交易所（NYSE）或纳斯达克（NASDAQ），并且必须遵守美国证券交易委员会（SEC）设定的更严格的报告要求。这一区别对于投资者理解至关重要，因为它会影响投资的流动性和可见性。美国存托凭证的另一个重要方面是其定价结构。ADR的价格通常基于基础外国股票的价值，调整汇率和ADR与实际股份的比例。例如，一个ADR可能代表多股外国股票，这会显著影响ADR本身的价格和交易量。投资者还应意识到投资ADR相关的潜在风险。尽管它们提供了一种方便的方式来投资外国公司，但它们仍然受到与基础外国股票相同的市场波动和经济条件的影响。此外，政治不稳定、货币风险和外国法规的变化等因素也可能影响ADR的表现。因此，在投资之前，彻底研究和了解外国公司及其市场环境至关重要。总之，美国存托凭证作为美国投资者与外国市场之间的重要桥梁。通过简化投资过程并提供投资国际公司的手段，ADR为美国投资者打开了一个充满机会的世界。然而，像任何投资一样，它们也伴随着自身的风险和考虑因素。理解ADR的运作方式、类型、定价结构和相关风险，对于任何希望通过国际资产多样化投资组合的人来说都是必不可少的。