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06:01 Aug 9, 2011
English to English translations [PRO] Bus/Financial - Business/Commerce (general) / Relates to "agency theory"
English term or phrase:Protein (incorrect word used)
I'm copyediting some text by a non-native English speaker. Their use of English is quite odd - I have already tidied this paragraph. I am lost as to what they mean by "protein" in the last sentence. I know it can't be protein, and I can usually guess what word the author has substituted for, but this has beaten me!
"The conflict between creditors and shareholders comes from the limited liability of shareholders. Jensen and Meckling believed that, due to limited liability, managers may invest in risky projects without considering the creditors’ benefit, and try to transfer creditors’ profit to shareholders. This may encourage shareholders to increase asset risk after debt issuing.
*** When creditors realize risks have taken place by protein asset, they will require more return to cover their protein lost.***"
Explanation: I think you're better off rewriting this jigsaw than wasting your breath on guess work (although it's a lovely challenge, if you have the time!:) It is not just "protein" that does not belong here; to me, the part before protein, "risks have taken place by" is equally puzzling, as well as the rest of the sentence. I think we can safely assume that what the author really meant to say was that once creditors realize the increased risk to existing assets (due to the managers' risky transactions), they will raise their interest rates to protect themselves from potential losses.
If you read through this article, you will probably get a pretty good idea what *should have been* written instead. If we knew the author's primary language, we might figure this "protein" out; meanwhile, you may try to work with what you have (e.g. common sense and peers :).
"In addition to the agency conflict between stockholders and managers, there is a second class of agency conflicts—those between creditors and stockholders. Creditors have the primary claim on part of the firm's earnings in the form of interest and principal payments on the debt as well as a claim on the firm's assets in the event of bankruptcy. The stockholders, however, maintain control of the operating decisions (through the firm's managers) that affect the firm's cash flows and their corresponding risks. Creditors lend capital to the firm at rates that are based on the riskiness of the firm's existing assets and on the firm's existing capital structure of debt and equity financing, as well as on expectations concerning changes in the riskiness of these two variables."
Thanks, Amarpaul! To clarify, I've been answering the things like billy-o, but haven't felt the need to ask before (and I'm newly Pro, too, so thought would use my allowances!)
I understood I had to choose one best answer. The one I chose was to go back to the theory. There was no way of telling what the word should be, but I'm grateful to everyone for proving that this was the case, as I'd stared at it so long, I thought I was missing something!
Anyway, if it had been a piece of writing for a web page etc., I'd have gone to the theory and rewritten. As it was a student dissertation, I've highlighted the sentence and suggested the student go back to the theory themselves and work out what to do.
Thanks to everyone who chimed in - a lovely, positive experience for my first Kudoz question!
Wow - thanks everyone for your help so far! OK the original language is Chinese and the paragraph is pretty well as it started, apart from the tenses. It's one of the clearer parts of the text, so I actually assumed it had been helped along till I came to the word protein! Note that I can't change the whole wording, as this is an academic dissertation - so tenses are fair game and I need to point out protein is wrong and really want to suggest what it could be, but have no idea!
Thanks for the diversion; I had a few fun filled moments looking THAT up. It's here b.t.w., if anyone else is suffering from Tuesday morning blues ... http://www.languagehat.com/archives/003990.php
The asset is the source of protein, it's what feeds the creditors, what generates their profits. Muscles need the right amount of protein to stay healthy...and flex :-)
Hi Jack! Remember the infamous 'Squirrel Institute of Wounds'? That pitiful machine translation for 'Институт белка РАН' appeared on their official website a few months ago.
Maybe protein is used to translate a word which can mean that or something else. In Russian, for instance, the same word can mean "protein" or "egg-white". So I don't think it's Russian, but maybe this line would be worth pursuing in another language.
Automatic update in 00:
Answers
35 mins confidence:
protein (incorrect word used)
protection
Explanation: maybe if you turn the words around this could make sense?
asset protection - protection lost .... fit that in somehow?
-------------------------------------------------- Note added at 53 mins (2011-08-09 06:55:31 GMT) --------------------------------------------------
"potential" might fit better in the second instance.
Shera Lyn Parpia Italy Local time: 21:52 Works in field Native speaker of: English PRO pts in category: 18
Explanation: Treating the complete sentence as a jiogsaw (or sudoku) puzzle, I propose "principal" as the one word that find (well, just about fits) in the sentence. Of course it is just in the realm of speculation -- Caveat lector!
Talk about 'lost in translation'! ;-)
-------------------------------------------------- Note added at 54 mins (2011-08-09 06:56:14 GMT) --------------------------------------------------
My sample sentence disapparated while posting; here it is:
When creditors realize that risks have taken place by *principal /assets*, they will require more return to cover their *principal* lost.
-------------------------------------------------- Note added at 1 hr (2011-08-09 07:23:12 GMT) --------------------------------------------------
When creditors realize that (their) *principal /assets* are at risk, they will require more return to cover their *principal* lost.
amarpaul India Local time: 01:22 Specializes in field Native speaker of: Panjabi PRO pts in category: 4
1 hr confidence: peer agreement (net): +1
protein (incorrect word used)
see: agency theory
Explanation: I think you're better off rewriting this jigsaw than wasting your breath on guess work (although it's a lovely challenge, if you have the time!:) It is not just "protein" that does not belong here; to me, the part before protein, "risks have taken place by" is equally puzzling, as well as the rest of the sentence. I think we can safely assume that what the author really meant to say was that once creditors realize the increased risk to existing assets (due to the managers' risky transactions), they will raise their interest rates to protect themselves from potential losses.
If you read through this article, you will probably get a pretty good idea what *should have been* written instead. If we knew the author's primary language, we might figure this "protein" out; meanwhile, you may try to work with what you have (e.g. common sense and peers :).
"In addition to the agency conflict between stockholders and managers, there is a second class of agency conflicts—those between creditors and stockholders. Creditors have the primary claim on part of the firm's earnings in the form of interest and principal payments on the debt as well as a claim on the firm's assets in the event of bankruptcy. The stockholders, however, maintain control of the operating decisions (through the firm's managers) that affect the firm's cash flows and their corresponding risks. Creditors lend capital to the firm at rates that are based on the riskiness of the firm's existing assets and on the firm's existing capital structure of debt and equity financing, as well as on expectations concerning changes in the riskiness of these two variables."
The translation workplace 
peer agreement (net): +1
