The maneuver was possibly named after Zefram Cochrane. However, this is not definitively established on screen.
According to the FASA source book The Four Years War (p. 41), the Cochrane deceleration maneuver involved the starship making a full stop and a quick 120-degree stress turn. The maneuver was used just as a faster enemy ship had made an attack run and was about to pass by. The maneuver allowed the starship to attack the aft section of the enemy with its forward torpedo launchers while being protected by its forward shields.