capitalisation

Forms

capitalisation f (plural capitalisations)^[1]

Etymology

It is formed from French capitaliser + -ation.^[2][1][3] The verb is from French capital with the suffix -iser,^[2] and the adjective was taken from capitālis, from caput (“head”).^[4] The Grand Robert, the GLLF, the Petit Robert and Rey date the noun to Boiste in 1829, but the TLFi, following Larousse, notes that it is not in Boiste's 1829 edition and gives 1838 instead.^{[5][6][7][3][2]}

Earliest recorded meaning

Its first record (1838) is in the Complément of the Académie dictionary, published in 1842, in the sense of accumulating interest or profits so as to form or increase a capital.^[2]

Semantic evolution

Proudhon used it in 1840 of the accumulating power of property, and Renan in 1876 figuratively, of a slow accumulation of the goods of mankind.^[2] By metonymy it came to mean the estimate of the value of an annuity or other income-producing right from the payments made,^[2][6] and on the stock exchange capitalisation boursière is the total value of a company's shares at market price.^[2][7] In insurance it names a system in which premiums are set aside and their interest capitalised.^[6] Quemada's datings also record the sense “transformation of an economy on capitalist lines”.^[8]

Recapitaliser and recapitalisation, frequent in finance from the 1980s, are calques of English.^[3]

Timeline

• 1838 – First record according to the TLFi.^[2]
• 1840 – Proudhon writes of the effects of capitalisation.^[2]
• 1876 – Renan uses it figuratively.^[2]
• 1980s – Recapitalisation comes into use.^[3]

Meanings

Noun

1. The accumulation of interest or profits to form or increase a capital: taux de capitalisation.^[2][7]
2. (figurative) Accumulation, saving.^[2]
3. (finance) The estimate of the value of an annuity or other income-producing right from the payments made.^[2][6]
4. (stock exchange) Capitalisation boursière: the market capitalization of a company, its share price multiplied by the number of its shares.^[2][7][6]
5. (insurance) A system in which the premiums are set aside and their interest capitalised until the insurer's commitment falls due.^[6]

Related words

• capitaliser
• capital
• capitalisable
• recapitalisation

References

1. ^ a b c Wiktionary, the free dictionary, https://en.wiktionary.org
2. ^ a b c d e f g h i j k l m n Trésor de la langue française informatisé (2004), ATILF – CNRS & Université de Lorraine, atilf.fr/tlfi; electronic version of Imbs, Paul; Quemada, Bernard, eds. (1971–1994), Trésor de la langue française, Paris: CNRS / Gallimard
3. ^ a b c d Rey, Alain, ed. (1992), Dictionnaire historique de la langue française, Paris: Le Robert
4. ^ Bloch, Oscar; Wartburg, Walther von (1989), Dictionnaire étymologique de la langue française, 8th ed., Paris: Presses universitaires de France
5. ^ Rey, Alain, ed. (2005), Le Grand Robert de la langue française, electronic version, Paris: Le Robert
6. ^ a b c d e f Guilbert, Louis; Lagane, René; Niobey, Georges, eds. (1971–1978; 1989), Grand Larousse de la langue française, Paris: Larousse
7. ^ a b c d Rey-Debove, Josette; Rey, Alain, eds. (2007), Le Petit Robert de la langue française, Paris: Le Robert
8. ^ Quemada, Bernard, ed. (1959–2006), Datations et documents lexicographiques (Base historique du vocabulaire français, BHVF), Paris: Klincksieck / CNRS / Champion; ATILF