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Section 10. Philology and linguistics
Section 10. Philology and linguistics
Akhmetova Maynur Erevshanalievna, Stavropol State Pedagogical Institute, postgraduate student, the Faculty of Linguistics E-mail: [email protected]
Integrative nature of financial risk management terminology
Abstract: Interdisciplinary approach to studying financial risk management terminology. Languages for special purposes of developed scientific fields are the most productive sources for borrowings for dynamically developing ones. Sources of term borrowings for financial risk management: their specific features and types.
Keywords: terminology, integrative nature, interdisciplinary approach, term, borrowings, metaphor,
Formation of financial risk management terminology in English and Russian languages has got a long-term history. But still this process is not completed yet. As long as the domain is in vogue, it will remain the subject of debate. This will cause corrections and adjustments in terminology in general and in its different aspects. Mostly financial risk management deals with crises. There are multiple approaches to classification and description of this economic phenomenon. The more we face economic crises the more financial analysts agree, that the best way to fight these disruptive incidents is to prevent them in the beginning. There are many techniques for early identification of relevant risks and threats, for assessment of the likelihood impact, and determination methods to avoid them, or to reduce their consequences. In this case, sharing progressive experiences and best practice helps to be prepared to abnormal and unstable situations. But we have to admit, that the developing of a specific domain is impossible without developing its terminology. These two processes are connected and interdependent. Any language for special purposes reflects fluctuations first, and it is important for terms to be strictly defined and classified. It is even more important because of a global nature of economic crises.
Most scholars hold to interdisciplinary approach to studying financial risk management [1; 2; 3; 4]. Analysis of financial risk management terminology highlights the significance of interdisciplinary connections in modern scientific areas (see fig. 1). Languages for special purposes of developed scientific fields are the most productive sources for borrowings for dynamically developing ones. Along with the specific financial risk management terms, there are borrowed ones, which come from other disciplines; and both groups of terms make the whole scope of domain’s terminology. Borrowed terms move to risk management terminology with different transformations. There might be some modifications in definitions to suit the new field, or complete transvaluation of a meaning of a term.
Russian linguist V. M. Leychik maintained that term borrowings were typical for new domains during their
formation, and also claimed that this process was mostly metaphorical [5, 112]. According to G. Lakoff and M. Johnson, metaphorical concepts are necessary for understanding most of what goes on in our world. . When the basic metaphors of a scientific theory are extensions of basic metaphors in our everyday conceptual system, then we feel that such a theory is “intuitive” or “natural”. . Metaphorical concepts are essential to scientific thought — without them we could understand very little beyond our direct physical experience. It is the genius of a good scientist that he can come up with a consistent set of natural metaphors that, when elaborated, fit a wide range of phenomena” [6, 207-208].
Fig. 1. Integrative nature of financial risk management terminology
Analysis of interdisciplinary term borrowings in financial risk management shows that they also have metaphorical nature and may be classified according to V. M. Leychik, who distinguished 4 types of intersystem term borrowings:
- adoption of a single term (e. g. black box came to risk management terminology from cybernetics. Initially, black
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Integrative nature of financial risk management terminology
box is ‘a device or theoretical construct with known or specified performance characteristics but unknown or unspecified constituents and means of operation’ [9]; and in financial risk management black box is ‘a valuation or pricing formula for financial instruments that is not explained to users of the computer system that incorporates the formula Users are expected to accept the output of the computer “box” on faith’ [7, 39]);
- adoption of a terminology fragment (e. g. Greek letters, or Greeks, in financial risk management are the quantities representing the sensitivity of the price of financial instruments: alpha, beta, gamma, vega, etc.);
- adoption of a whole terminology and adoption of a formation technique (these types of intersystem term borrowings, described by the scientist, are not represented in financial risk management. Despite of the integrative nature of the domain, it’s still unique sphere. It has its own specific features, reflected on its LSP, that distinguish it from any other scientific fields, even closely related to it) [5, 112-113].
Mainly financial risk management terminology includes terms from jurisprudence, sociology, information technology, mathematics, and psychology. But the prevailing numbers of names transfer from economics. Following examples of borrowed terms confirm integrative nature of financial risk management terminology.
Terms borrowed from mathematics:
- matrix ‘a rectangular array of entries displayed in rows and columns and enclosed in brackets. The entries are elements of some suitable set, either specified or understood. They are often numbers, perhaps integers, real numbers or complex numbers, but they may be, say, polynomials or other expressions’ [8, 107]; risk assessment matrix (RAM) ‘a tabular organization and quantification of risk types, levels, and locations in an operation or organization. The Ram is an intermediate step in some systems for risk measurement and control’ [7, 269];
- variable ‘an expression, usually denoted by a letter, that is defined for values within a given set. Can be used to represent elements of sets which are not numbers but frequently it relates to numerical quantities and functions defined in them together with the relationship between them’ [8, 820]; variable annuity ‘an annuity contract in which the value of periodic income payments may fluctuate as a result of changes in securities market values, a cost of living index, or some other designated index’ [7, 325];
- rate ‘a measure, quantity, or frequency, typically one
measured against another quantity or measure’ [13]; hazard rate ‘the probability or rate at which an event is expected to occur during a specified interval, assuming it has not yet occurred. The hazard rate is often used to measure default risk in bonds’ [7, 159]; interest rate risk ‘an adverse variation in cost or return caused by a change in the absolute level of interest rates, in the spread between two rates, in the shape of the yield curve, or in any other interest rate relationship’ [7, 176];
- limit ‘a point or value which a sequence, function, or sum of a series can be made to approach progressively, until
they are as close to it as desired’ [13]; loss limit ‘the maximum loss considered acceptable in the simulation of a specific type of risk, usually in a worst case or stress test analysis’ [7, 196].
Terms borrowed from information technology:
- cyber ‘relating to or characteristic of the culture of computers, information technology, and virtual reality’ [13]; cybercash ‘the ultimate dematerialization of money...’ [7, 93];
- internet ‘a global computer network providing a variety of information and communication facilities, consisting of interconnected networks using standardized communication protocols’ [13]; internet trading ‘an extremely low commission stock execution technique in which a customer enters an order over the internet.’ [7, 178];
- online ‘controlled by or connected to a computer’ [13]; InterBank on-line system (IBOS) ‘a London-based currency payment management system’ [7, 174].
Terms borrowed from jurisprudence:
- law ‘a system of rules created by a society to regulate behavior and punish crimes’ [10, 285]; blue-sky laws ‘the securities law of individual states in the U. S. that regulate new securities issues and many secondary market transactions...’ [7, 40]; law of one price ‘the economic principle that the same item or closely equivalent items must sell for the same price or related prices in the marketplace. It follows that identical cash flows should command the same price, thereby denying investors the opportunity to profit from riskless arbitrage’ [7, 185];
- legal ‘having to do with law; related to principles of law as opposed to equity. In accordance with law’ [10, 293]; legal list ‘a list of investments created by a regulatory regime that specifies a limited number of assets or classes of assets that may be purchased and held by a financial intermediary or a specific purpose fund.’ [7, 186]; legal risk ‘the most important legal risks in financial risk management are legal capacity, or ultra vires risk, and regulatory risk’ [7, 186];
- right ‘a power or privilege; authority to do something; a legal, equitable, or moral entitlement to something; an individual liberty’ [10, 441]; prescribed right to income and maximum equity (PRIME) ‘the income component of an American Trust unit, were the equivalent of a five-year covered call writer’s position at issuance’ [7, 244]; value recovery rights ‘options embedded in some Brady bonds that increase investor returns when oil prices rise’ [7, 325];
- power ‘authority; the ability or liberty to do something’ [10, 385]; power bond ‘a note or bond with a coupon that bears an exponential relationship to a reference rate .’ [7, 239].
Terms borrowed from sociology:
- group ‘used narrowly the term denotes a number of individuals, defined by informal or formal criteria of membership, who have some shared sense of identity or are bound by relatively stable patterns of social interaction. By pointing to some real association, these last two characteristics distinguish the group from aggregates or social categories that are created by outsiders (as when, for example, a sociologist writes about ‘men’ or ‘junior doctors’). More commonly the term is used
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Section 10. Philology and linguistics
as an all-purpose term for any collection (actual or abstract) of people’ [11, 137]; Derivatives policy group (DPG) ‘representatives of six large non-bank OTC derivatives dealers who worked with the CFTC and SEC to design voluntary oversight procedures for OTC derivatives activities of unregulated securities firm affiliates...’ [7, 101]; Group of seven (G-7) ‘a group of countries and a loose organization of national economic and monetary authorities committed to working out economic and currency exchange rate issues.’ [7, 156]; Working group on financial markets ‘a formal coordinating group of financial market regulators created by executive order in 1988 to deal with intermarket issues.’ [7, 333];
- society ‘the totality of human relationships . Any self-reproducing human group that occupies a reasonably bounded territory and has a reasonably distinctive culture and set of social institutions’ [11, 295]; Society for worldwide interbank financial telecommunications (SWIFT) ‘a banked-owned support organization and network for international message transfer and securities and currency trade processing.’ [7, 283];
- institution ‘any pattern of behavior which by repetition, traditional sanction and legal reinforcement acquires a degree of coercion could be described as a social institution: marriage would be a good example’ [11, 292]; depositary institution ‘a financial institution that, usually among other businesses, accepts cash deposits for which it pays interest or provides services in return for the opportunity to invest or lend the proceeds from the deposits at a higher return than the cost of
this source of funding.’ [7, 101]; Wholesale uninsured financial institution (WUFI) ‘a proposed regulatory framework for a multipurpose financial intermediary that can engage in any banking transaction except taking insured deposits’ [7, 332].
Terms borrowed from psychology:
- conflict ‘a hostile or antagonistic clash between different social groups. Any opposition of the interests of two or more social groups whether or not there is any actual overt conflict’ [12, 522]; conflict of interests ‘a situation where the financial interests of an individual or institution are different from the interests of one or more of the institution’s clients, or in which the interests of one client conflict with the interests of another’ [7, 71];
- sensitive ‘easily damaged, injured, or distressed by slight changes; having or displaying a quick and delicate appreciation of others’ feelings; easily offended or upset’ [13]; floating-rate rating sensitive note ‘a type of floating-rate note in which the quarterly reset is based on a variable spread over the reference index rate. The spread increases if the strike price is continuously reset to equal the highest or lowest market price to date’ [7, 141]; sensitivity ‘a measurement, description, or graph of the relationship between or among two or more of the variables determining option value or option value derivatives’ [7, 277].
Terminology of financial risk management is greatly influenced by economics. Figure 2 demonstrates that economics is the methodological basis of financial risk management as well as the biggest source of term borrowings.
Information management Bank management Time management Management by exception Ecosystem management International business administration Research and develop -ment management Financial risk management Technology management Strategic management Treasury management Active/passive management Human resource management Financial management Customer service management
the fields of management t t heory
General economics Institutional economics Business administration (accounrting, marketing, finance) Management theory Development economics Environmental economics Ü 4-*
the fields of economics t
ECONOMICS
Fig. 2. Economics as a methodological basis and important source of borrowings for financial risk management terminology and related fields
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Animal appellation in English verbal lexicon
References:
1. Fink S., Beak J. & Taddeo K. Organizational crisis and change. Journal of Applied Behavioral Science, - 7: 15-37, - 1971.
2. Mitroff I., Pauchant T. & Shrivastava P. Conceptual and empirical issues in the development of a general theory of crisis management. Technological Forecasting and Social Change, - 33: 83-107, - 1988.
3. Shrivastava P., Mitroff I., Miller D. & Miglani A. Understanding industrial crises. Journal of Management Studies, - 25: 285-303, - 1988.
4. Staw B. M., Sandelands L. E. & Dutton J. E. Threat-rigidity effects in organizational behavior: A multi-level analysis. Administrative Science Quarterly, - 1981. - 26: 501-524.
5. Leychik V M. Theory of terminology: object, methods, framework. - Moscow: Knijnyi dom “Librokom”, - 2009.
6. Lakoff George P., Johnson Mark. The metaphorical structure of the human conceptual system. Cognitive science, - volume 4, - 1980 (192-280).
7. Gastineau Gary L., Kritzman Mark P. . Dictionary of financial risk management. - USA: Frank J. Fabozzi assossiates, - 1999.
8. Clapham Christopher, Nicholson James. The Concise Oxford Dictionary of Mathematics: fourth edition. - Oxford: Oxford University Press, - 2009.
9. The American Heritage® Dictionary of the English Language, 5th edition Copyright © by Houghton Mifflin Harcourt Publishing Company, - 2013.
10. Hackney Blackwell Amy. The dictionary of essential legal terms: 1st ed. Naperville, Illinois: Sourcebooks, Inc., - 2008.
11. Steve Bruce, Steven Yearley. The Sage Dictionary of Sociology. Trowbridge, Wiltshire: the Cromwell Press Ltd., - 2006.
12. Matsumoto David. The Cambridge Dictionary of Psychology. - New York: Cambridge University Press, - 2009.
13. Oxford dictionaries. - [Electronic resource]. - Access mode: http://www.oxforddictionaries.com
Bragarnik-Stankevich Olga Samuilovna, Belarussian State University, Senior teacher, Liberal Arts Faculty E-mail: [email protected]
Animal appellation in English verbal lexicon
Abstract: The aim of this research is to offer semantic verbs-zoonyms classification based on the morphemic structure of a word. That namely means to describe the group ofverbs with roots, affiliated with names of animals in English. Keywords: zoonyms, lexical semes, conversion, semantic groups.
Verb is the part of speech that mostly can be combined in lexical-semantic groups, so comparative linguistics has its aim to present lexical-semantic classification of verbal predicates. It can be done by two ways. The first way involves the transition of general semantic classification of verbal lexicon to a consistent and complete description of the individual lexical-semantic groups. The opposite way leads the studying of the descriptions of the individual groups to the generalizing of the results [1]. This way, the studying of the broadest groups, based on the unity of lexical semes, brings us to the knowledge of the semantic structure of the vocabulary in a whole, as small groups are always a part of broader ones and can be adequately described only on the basis of this relationship.
In this regard verbs formed from the notion-names of animals (zoonyms) are of particular interest to us. In the linguistic literature, zoonyms are also known as animalisms, zoometaphors, zoolexems, zoomorphisms, comparative phrases with animalistic component, word combinations with component-names of animals, etc.
The role of animals in human life has always been extremely high, especially in the early days of mankind, when
people and animals coexisted in a natural neighborhood. Animals were included in the social hierarchy of a human society; they seemed to be a special human hypostasis (in animism, totemism, etc.). The inclusion of our knowledge about the fauna in figurative human characteristics is a natural stage in the development of language [2].
The aim of this research is to offer semantic verbs-zoonyms classification based on the morphemic structure of a word. That namely means to describe the group of verbs with roots, affiliated with names of animals in English.
English language vocabulary completion at the expense of formation of such verbs occurs in different periods of the language. Most often, this trend was due to the fact that such a derivation helped to denote a specific action economically. That happened relatively to the animal, whose name is used to form a new word.
For example, there is a large number of verbs in the studied group of zoonyms that refers to the notion ‘hunting’. By the means of zero derivation a noun into a verb one can easily get a new lexical unit with the meaning ‘hunting that kind of animal’: to seal — hunt for seals; to shrimp — fish for shrimps; to mouse — hunt for or catch mice; etc. [3].
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