Glossary of Financial and Business terms meanings

Glossary of Financial and Business terms meanings

 

Abandonment option meaning Abnormal returns meaning Absolute priority meaning Accelerated cost recovery system (ACRS) meaning Accelerated depreciation meaning Accounting exposure meaning Accounting earnings meaning Accounting insolvency meaning Accounting liquidity meaning Accounts payable meaning Accounts receivable meaning Accounts receivable turnover meaning Accretion (of a discount) meaning Accrual bond meaning Accrued interest meaning Accumulated Benefit Obligation (ABO) meaning Acid-test ratio meaning Acquiree meaning Acquirer meaning Acquisition of assets meaning Acquisition of stock meaning Act of state doctrine meaning Active meaning Active portfolio strategy meaning Actuals meaning Additional hedge meaning Adjustable rate preferred stock (ARPS) meaning Adjusted present value (APV) meaning Administrative pricing rules meaning Advance commitment meaning Adverse selection meaning Affirmative covenant meaning After-tax profit margin meaning After-tax real rate of return meaning Agencies meaning Agency bank meaning Agency basis meaning Agency cost view meaning Agency costs meaning Agency pass-throughs meaning Agency problem meaning Agency theory meaning Agent meaning Aggregation meaning Aging schedule meaning AIBD meaning All equity rate meaning All or none meaning All-equity rate meaning All-in cost meaning All-or-none underwriting meaning Alpha meaning Alternative mortgage instruments meaning American Depositary Receipts (ADRs) meaning American option meaning American shares meaning American Stock Exchange (AMEX) meaning American-style option meaning Amortization meaning Amortization factor meaning Amortizing interest rate swap meaning Analyst meaning Angels meaning Announcement date meaning Annual fund operating expenses meaning Annual percentage rate (APR) meaning Annual percentage yield (APY) meaning Annual report meaning Annualized gain meaning Annualized holding period return meaning Annuity meaning Annuity due meaning Annuity factor meaning Annuity in arrears meaning Anticipation meaning Antidilutive effect meaning Appraisal ratio meaning Appraisal rights meaning Appropriation request meaning Arbitrage meaning Arbitrage Pricing Theory (APT) meaning Arbitrage-free option-pricing models meaning Arbitrageurs meaning Arithmetic average (mean) rate of return meaning Arithmetic mean return meaning Arms index meaning Arm's length price meaning ARMs meaning Articles of incorporation meaning Asian currency units (ACUs) meaning Asian option meaning Ask meaning Ask price meaning Asset meaning Asset/equity ratio meaning Asset/liability management meaning Asset activity ratios meaning Asset allocation decision meaning Asset-backed security meaning Asset-based financing meaning Asset classes meaning Asset-coverage test meaning Asset for asset swap meaning Asset pricing model meaning Asset substitution meaning Asset substitution problem meaning Asset swap meaning Asset turnover meaning Asset pricing model meaning Assets meaning Assets requirements meaning Assignment meaning Asymmetry meaning Asymmetric information meaning Asymmetric taxes meaning At-the-money meaning Attribute bias meaning Auction markets meaning Auction rate preferred stock (ARPS) meaning Auditor's report meaning Authorized shares meaning Autocorrelation meaning Automated Clearing House (ACH) meaning Automatic stay meaning Autoregressive meaning Availability float meaning Average meaning Average accounting return meaning Average age of accounts receivable meaning Average collection period, or days' receivables meaning Average cost of capital meaning Average life meaning Average maturity meaning Average (across-day) measures meaning Average rate of return (ARR) meaning Average tax rate meaning Away meaning Back fee meaning Back office meaning Back-end loan fund meaning Back-to-back financing meaning Back-to-back loan meaning Back-up meaning Backwardation meaning Baker Plan meaning Balance of payments meaning Balance of trade meaning Balance sheet meaning Balance sheet exposure meaning Balance sheet identity meaning Balanced fund meaning Balanced mutual fund meaning Balloon maturity meaning BAN (Bank anticipation notes) meaning Bane meaning Bank collection float meaning Bank discount basis meaning Bank draft meaning Bank line meaning Bank wire meaning Banker's acceptance meaning Bank for International Settlements (BIS) meaning Bankruptcy meaning Bankruptcy cost view meaning Bankruptcy risk meaning Bankruptcy view meaning Bar meaning Barbell strategy meaning Bargain-purchase-price option meaning BARRA's performance analysis (PERFAN) meaning Barrier options meaning Base interest rate meaning Base probability of loss meaning Basic balance meaning Basic business strategies meaning Basic IRR rule meaning Basis meaning Basis point meaning Basis price meaning Basis risk meaning Basket options meaning Basket trades meaning Bear meaning Bearer bond meaning Bear market meaning Bear raid meaning Before-tax profit margin meaning Beggar-thy-neighbor meaning Beggar-thy-neighbor devaluation meaning Bellwether issues meaning Benchmark meaning Benchmark error meaning Benchmark interest rate meaning Benchmark issues meaning Best-efforts sale meaning Best-interests-of-creditors test meaning Beta (Mutual Funds) meaning Beta equation (Mutual Funds) meaning Beta equation (Stocks) meaning Biased expectations theories meaning Bid price meaning Bid-asked spread meaning Bidder meaning Big Bang meaning Big Board meaning Bill of exchange meaning Bill of lading meaning Binomial option pricing model meaning Black market meaning Black-Scholes option-pricing model meaning Blanket inventory lien meaning Block house meaning Block trade meaning Block voting meaning Blocked currency meaning Blow-off top meaning Blue-chip company meaning Blue-sky laws meaning Bogey meaning Boilerplate meaning Bond meaning Bond agreement meaning Bond covenant meaning Bond equivalent yield meaning Bond indenture meaning Bond indexing meaning Bond points meaning Bond value meaning Bond-equivalent basis meaning Bond-equivalent yield meaning BONDPAR meaning Boning meaning Book meaning Book cash meaning Book profit meaning Book runner meaning Book value meaning Book value per share meaning Book-entry securities meaning Bootstrapping meaning Borrow meaning Borrower fallout meaning Bottom-up equity management style meaning Bought deal meaning Bourse meaning Bracket meaning Brady bonds meaning Branch meaning Break meaning Break-even analysis meaning Break-even lease payment meaning Break-even payment rate meaning Break-even tax rate meaning Break-even time meaning Breakout meaning Bretton Woods Agreement meaning Bridge financing meaning British clearers meaning Broker meaning Broker loan rate meaning Brokered market meaning Bubble theory meaning Buck meaning Budget meaning Budget deficit meaning Builder buydown loan meaning Bull meaning Bull-bear bond meaning Bull CD, Bear CD meaning Bull market meaning Bull spread meaning Bulldog bond meaning Bulldog market meaning Bullet contract meaning Bullet loan meaning Bullet strategy meaning Bullish, bearish meaning Bundling, unbundling meaning Business cycle meaning Business failure meaning Business risk meaning Busted convertible meaning Butterfly shift meaning Buy meaning Buy in meaning Buy limit order meaning Buy on close meaning Buy on margin meaning Buy on opening meaning Buy-and-hold strategy meaning Buydowns meaning Buying the index meaning Buyout meaning Buy-back meaning Buy-side analyst meaning Cable meaning Calendar meaning Calendar effect meaning Call meaning Call an option meaning Call date meaning Call money rate meaning Call option meaning Call premium meaning Call price meaning Call protection meaning Call price meaning Call provision meaning Call risk meaning Call swaption meaning Callable meaning Canadian agencies meaning Cap meaning Capital meaning Capital account meaning Capital allocation decision meaning Capital asset pricing model (CAPM) meaning Capital budget meaning Capital budgeting meaning Capital expenditures meaning Capital flight meaning Capital gain meaning Capital gains yield meaning Capital lease meaning Capital loss meaning Capital market meaning Capital market efficiency meaning Capital market imperfections view meaning Capital market line (CML) meaning Capital rationing meaning Capital structure meaning Capital surplus meaning Capitalization meaning Capitalization method meaning Capitalization ratios meaning Capitalization table meaning Capitalized meaning Capitalized interest meaning Car meaning CARDs meaning Carry meaning Carring costs meaning Carrying value meaning CARs meaning Cash meaning Cash budget meaning Cash and carry meaning Cash and equivalents meaning Cash commodity meaning Cash conversion cycle meaning Cash cow meaning Cash cycle meaning Cash deficiency agreement meaning Cash delivery meaning Cash discount meaning Cash dividend meaning Cash equivalent meaning Cash flow meaning Cash flow after interest and taxes meaning Cash flow coverage ratio meaning Cash flow from operations meaning Cash flow matching meaning Cash flow per common share meaning Cash flow time-line meaning Cash-flow break-even point meaning Cash management bill meaning Cash markets meaning Cash offer meaning Cash ratio meaning Cash settlement contracts meaning Cash transaction meaning Cash-equivalent items meaning Cash-surrender value meaning Cashout meaning CBOE meaning CEDEL meaning Certainty equivalent meaning Certificate of deposit (CD) meaning CFAT meaning CFTC meaning Characteristic line meaning Changes in Financial Position meaning Chartists meaning Cheapest to deliver issue meaning Chicago Mercantile Exchange (CME) meaning Chinese wall meaning Churning meaning Circle meaning Circus swap meaning Claim dilution meaning Claimant meaning Clean opinion meaning Clean price meaning Clear meaning Clear a position meaning Clearing House Automated Payments System (CHAPS) meaning Clearing House Interbank Payments System (CHIPS) meaning Clearing member meaning Clearinghouse meaning Clientele effect meaning Close, the meaning Closed-end fund meaning Closed-end mortgage meaning Closing purchase meaning Closing range meaning Closing sale meaning Cluster analysis meaning Coefficient of determination meaning Coinsurance effect meaning Collar meaning Collateral meaning Collateral trust bonds meaning Collateralized mortgage obligation (CMO) meaning Collection float meaning Collection fractions meaning Collection policy meaning Collective wisdom meaning Comanger meaning Combination matching meaning Combination strategy meaning Commercial draft meaning Commercial paper meaning Commercial risk meaning Commission meaning Commission broker meaning Commission house meaning Commitment meaning Commitment fee meaning Committee, AIMR Performance Presentation Standards Implementation Committee meaning Commodities Exchange Center (CEC) meaning Commodity meaning Common market meaning Common stock meaning Common stock/other equity meaning Common stock equivalent meaning Common stock market meaning Common stock ratios meaning Common-base-year analysis meaning Common-size analysis meaning Company-specific risk meaning Comparative credit analysis meaning Comparison universe meaning Compensating balance meaning Competence meaning Competition meaning Competitive bidding meaning Competitive offering meaning Complete capital market meaning Complete portfolio meaning Completion bonding meaning Completion risk meaning Completion undertaking meaning Composition meaning Compound interest meaning Compound option meaning Compounding meaning Compounding frequency meaning Compounding period meaning Comprehensive due diligence investigation meaning Concentration account meaning Concentration services meaning Concession agreement meaning Conditional sales contracts meaning Confidence indicator meaning Confidence level meaning Confirmation meaning Conflict between bondholders and stockholders meaning Conglomerate meaning Conglomerate merger meaning Consensus forecast meaning Consol meaning Consolidation meaning Consortium banks meaning Constant-growth model meaning Consumer credit meaning Consumer Price Index meaning Contango meaning Contingent claim meaning Contingent deferred sales charge (CDSC) meaning Contingent immunization meaning Contingent pension liability meaning Continuous compounding meaning Continuous random variable meaning Contract meaning Contract month meaning Contribution margin meaning Control meaning Controlled disbursement meaning Controlled foreign corporation (CFC) meaning Controller meaning Convenience yield meaning Convention statement meaning Conventional mortgage meaning Conventional pass-throughs meaning Conventional project meaning Convergence meaning Conversion factors meaning Conversion parity price meaning Conversion premium meaning Convertibility meaning Convertible price meaning Conversion ratio meaning Conversion value meaning Convertible bonds meaning Convertible eurobond meaning Convertible exchangeable preferred stock meaning Convertible preferred stock meaning Convertible security meaning Convex meaning Core competency meaning Corner A Market meaning Corporate acquisition meaning Corporate bonds meaning Corporate charter meaning Corporate finance meaning Corporate financial management meaning Corporate financial planning meaning Corporate processing float meaning Corporate tax view meaning Corporate taxable equivalent meaning Corporation meaning Correlation meaning Correlation coefficient meaning Cost company arrangement meaning Cost of capital meaning Cost of carry meaning Cost of funds meaning Cost of lease financing meaning Cost of limited partner capital meaning Cost-benefit ratio meaning Counter trade meaning Counterpart items meaning Counterparties meaning Counterparty meaning Counterparty risk meaning Country economic risk meaning Country beta meaning Country financial risk meaning Country risk meaning Country selection meaning Coupon meaning Coupon equivalent yield meaning Coupon payments meaning Coupon rate meaning Covariance meaning Covenants meaning Cover meaning Coverage ratios meaning Covered call meaning Covered call writing strategy meaning Covered interest arbitrage meaning Covered or hedge option strategies meaning Covered Put meaning Cramdown meaning Crawling peg meaning Credible signal meaning Credit meaning Credit analysis meaning Credit enhancement meaning Credit period meaning Credit risk meaning Credit scoring meaning Credit spread meaning Crediting rate meaning Creditor meaning Cross default meaning Cross hedging meaning Cross holdings meaning Cross rates meaning Cross-border risk meaning Cross-sectional approach meaning Crossover rate meaning Crown jewel meaning Cum dividend meaning Cum rights meaning Cumulative abnormal return (CAR) meaning Cumulative dividend feature meaning Cumulative preferred stock meaning Cumulative probability distribution meaning Cumulative Translation Adjustment (CTA) account meaning Cumulative voting meaning Currency meaning Currency arbitrage meaning Currency basket meaning Currency future meaning Currency option meaning Currency risk meaning Currency risk sharing meaning Currency selection meaning Currency swap meaning Current account meaning Current assets meaning Current coupon meaning Current liabilities meaning Current issue meaning Current maturity meaning Current / noncurrent method meaning Current rate method meaning Current ratio meaning Current yield meaning Current-coupon issues meaning Cushion bonds meaning Custodial fees meaning Customary payout ratios meaning Customized benchmarks meaning Customs union meaning Date of payment meaning Date of record meaning Dates convention meaning Day order meaning Day trading meaning Days in receivables meaning Days' sales in inventory ratio meaning Days' sales outstanding meaning DCF meaning De facto meaning Dead cat bounce meaning Dealer meaning Dealer loan meaning Dealer market meaning Dealer options meaning Debenture bond meaning Debt/equity ratio meaning Debt meaning Debt capacity meaning Debt displacement meaning Debt instrument meaning Debt leverage meaning Debt limitation meaning Debt market meaning Debt ratio meaning Debt relief meaning Debt securities meaning Debt service meaning Debt service parity approach meaning Debt-service coverage ratio meaning Debt swap meaning Debtor in possession meaning Debtor-in-possession financing meaning Decile rank meaning Decision tree meaning Declaration date meaning Dedicated capital meaning Dedication strategy meaning Dedicating a portfolio meaning Deductive reasoning meaning Deed of trust meaning Deep-discount bond meaning Default meaning Default premium meaning Default risk meaning Defeasance meaning Deferred call meaning Deferred equity meaning Deferred futures meaning Deferred nominal life annuity meaning Deferred taxes meaning Deferred-annuities meaning Deficit meaning Defined benefit plan meaning Defined contribution plan meaning Delayed issuance pool meaning Deliverable instrument meaning Delivery meaning Delivery notice meaning Delivery options meaning Delivery points meaning Delivery price meaning Delivery versus payment meaning Delta meaning Delta hedge meaning Delta neutral meaning Demand deposits meaning Demand line of credit meaning Demand master notes meaning Demand shock meaning Dependent meaning Depository transfer check (DTC) meaning Depository Trust Company (DTC) meaning Depreciate meaning Depreciation meaning Depreciation tax shield meaning Derivative instruments meaning Derivative markets meaning Derivative security meaning Detachable warrant meaning Deterministic models meaning Detrend meaning Devaluation meaning Difference from S&P meaning Differential disclosure meaning Differential swap meaning Diffusion process meaning Dilution meaning Dilutive effect meaning Direct estimate method meaning Direct lease meaning Direct paper meaning Direct placement meaning Direct quote meaning Direct search market meaning Direct stock-purchase programs meaning Dirty float meaning Dirty price meaning Disbursement float meaning Disclaimer of opinion meaning Discount meaning Discount bond meaning Discount factor meaning Discount period meaning Discount rate meaning Discount securities meaning Discount window meaning Discounted basis meaning Discounted cash flow (DCF) meaning Discounted dividend model (DDM) meaning Discounted payback period rule meaning Discounting meaning Discrete compoundingM meaning Discrete random variable meaning Discretionary account meaning Discretionary cash flow meaning Discriminant analysis meaning Disintermediation meaning Distributed meaning Distributions meaning Divergence meaning Diversifiable risk meaning Diversification meaning Dividend meaning Dividend clawback meaning Dividend clientele meaning Dividend discount model (DDM) meaning Dividend growth model meaning Dividend limitation meaning Dividend payout ratio meaning Dividends per share meaning Dividend policy meaning Dividend rate meaning Dividend reinvestment plan (DRP) meaning Dividend rights meaning Dividend yield (Funds) meaning Dividend yield (Stocks) meaning Dividends per share meaning DM meaning Doctrine of sovereign immunity meaning Documented discount notes meaning Dollar bonds meaning Dollar duration meaning Dollar price of a bond meaning Dollar return meaning Dollar roll meaning Dollar safety margin meaning Dollar-weighted rate of return meaning Domestic International Sales Corporation (DISC) meaning Domestic market meaning Don't know (DK, Dked) meaning Double-declining-balance depreciation meaning Double-dip lease meaning Double-tax agreement meaning Doubling option meaning Dow Jones industrial average meaning Down-and-in option meaning Down-and-out option meaning Downgrade meaning Draft meaning Drop, the meaning Drop lock meaning Dual syndicate equity offering meaning Dual-currency issues meaning Due bill meaning Dupont system of financial control meaning Duration meaning Dutch auction meaning Dynamic asset allocation meaning Dynamic hedging meaning EAFE index meaning Earning power meaning Earnings meaning Earnings before interest and taxes (EBIT) meaning Earnings per share (EPS) meaning Earnings retention ratio meaning Earnings surprises meaning Earnings yield meaning Economic assumptions meaning Economic defeasance meaning Economic dependence meaning Economic earnings meaning Economic exposure meaning Economic income meaning Economic order quantity (EOQ) meaning Economic rents meaning Economic risk meaning Economic surplus meaning Economic union meaning Economies of scale meaning Economies of scope meaning EDGAR meaning Edge corporations meaning Effective annual interest rate meaning Effective annual yield meaning Effective call price meaning Effective convexity meaning Effective date meaning Effective duration meaning Effective margin (EM) meaning Effective rate meaning Effective spread meaning Efficiency meaning Efficient capital market meaning Efficient diversification meaning Efficient frontier meaning Efficient Market Hypothesis meaning Efficient portfolio meaning Efficient set meaning Either/or facility meaning Either-way market meaning Elasticity of an option meaning Electronic data interchange (EDI) meaning Electronic depository transfers meaning Eligible bankers' acceptances meaning Embedded option meaning Emerging markets meaning Employee stock fund meaning Employee stock ownership plan (ESOP) meaning Endogenous variable meaning Endowment funds meaning End-of-year convention meaning Enhanced indexing meaning Enhancement meaning Equilibrium market price of risk meaning Equilibrium rate of interest meaning Equipment trust certificates meaning Equity meaning Equity cap meaning Equity claim meaning Equity collar meaning Equity contribution agreement meaning Equity floor meaning Equity kicker meaning Equity market meaning Equity multiplier meaning Equity options meaning Equity swap meaning Equity-linked policies meaning Equityholders meaning Equivalent annual annuity meaning Equivalent annual benefit meaning Equivalent annual cash flow meaning Equivalent annual cost meaning Equivalent bond yield meaning Equivalent loan meaning Equivalent taxable yield meaning Erosion meaning Ethics meaning Euro CDs meaning Euro lines meaning Euro straight meaning Eurobank meaning Eurobond meaning Euroclear meaning Eurocredits meaning Eurocurrency deposit meaning Eurocurrency market meaning Eurodollar meaning Eurodollar bonds meaning Euroequity issues meaning European Currency Unit (ECU) meaning European Monetary System (EMS) meaning European option meaning European Union (EU) meaning European-style option meaning Euroyen bonds meaning Euro-commercial paper meaning Euro-medium term note (Euro-MTN) meaning Euro-note meaning Evaluation period meaning Evening up meaning Event risk meaning Event study meaning Events of default meaning Evergreen credit meaning Ex post return meaning Exact matching meaning Exante return meaning Except for opinion meaning Excess reserves meaning Excess return on the market portfolio meaning Excess returns meaning Exchange meaning The Exchange meaning Exchange controls meaning Exchange of assets meaning Exchange of stock meaning Exchange offer meaning Exchange rate meaning Exchange Rate Mechanism (ERM) meaning Exchange rate risk meaning Exchange risk meaning Exchangeable Security meaning Exclusionary self-tender meaning Execution meaning Execution costs meaning Exempt securities meaning Exercise meaning Exercise price meaning Exercise value meaning Exercising the option meaning Exogenous variable meaning Expectations hypothesis theories meaning Expectations theory of forward exchange rates meaning Expected future cash flows meaning Expected future return meaning Expected return meaning Expected return on investment See meaning Expected return-beta relationship meaning Expected value meaning Expected value of perfect information meaning Expense ratio meaning Expensed meaning Expiration meaning Expiration cycle meaning Expiration date meaning Export-Import Bank (Ex-Im Bank) meaning Exposure netting meaning Expropriation meaning Extendable bond meaning Extendable notes meaning Extension meaning Extension date meaning Extension swap meaning External efficiency meaning External finance meaning External market meaning Extinguish meaning Extra or special dividends meaning Extraordinary positive value meaning Extrapolative statistical models meaning Ex-dividend meaning Ex-dividend date meaning Ex-rights meaning Ex-rights date meaning Face value meaning Factor meaning Factor analysis meaning Factor model meaning Factor portfolio meaning Factoring meaning Fail meaning Fair game meaning Fair market price meaning Fair price meaning Fair price provision meaning Fair-and-equitable test meaning Fallout risk meaning FASB meaning FASB No. 8 meaning FASB No. 52 meaning FCIA meaning FDIC meaning Feasible portfolio meaning Feasible set of portfolios meaning Feasible target payout ratios meaning Federal agency securities meaning Federal credit agencies meaning Federal Deposit Insurance Corporation (FDIC) meaning Federal Financing Bank meaning Federal funds meaning Federal funds market meaning Federal funds rate meaning Federal Home Loan Banks meaning Federal Reserve System meaning Federally institutions meaning Fedwire meaning FHA prepayment experience meaning Fiat money meaning Field warehouse meaning Figuring the tail meaning Fill meaning Fill or kill order meaning Filter meaning Finance meaning Financial analysts meaning Financial assets meaning Financial control meaning Financial distress meaning Financial distress costs meaning Financial engineering meaning Financial future meaning Financial intermediaries meaning Financial lease meaning Financial leverage meaning Financial leverage clientele meaning Financial leverage ratios meaning Financial market meaning Financial objectives meaning Financial plan meaning Financial planning meaning Financial press meaning Financial ratio meaning Financial risk meaning Financing decisions meaning Firm meaning Firm commitment underwriting meaning Firm's net value of debt meaning Firm-specific risk meaning First notice day meaning First-call meaning First-In-First-Out (FIFO) meaning First-pass regression meaning Fiscal agency agreement meaning Fisher effect meaning Fisher's separation theorem meaning Fiscal policy meaning Five Cs of credit meaning Fixed asset meaning Fixed asset turnover ratio meaning Fixed cost meaning Fixed-annuities meaning Fixed-charge coverage ratio meaning Fixed-dates meaning Fixed-dollar obligations meaning Fixed-dollar security meaning Fixed-exchange rate meaning Fixed-income equivalent meaning Fixed-income instruments meaning Fixed-income market meaning Fixed price basis meaning Fixed-price tender offer meaning Fixed-rate loan meaning Fixed-rate payer meaning Flat benefit formula meaning Flat price risk meaning Flat trades meaning Flattening of the yield curve meaning Flat price (also clean price) meaning Flight to quality meaning Flip-flop note meaning Float meaning Floater meaning Floating exchange rate meaning Floating lien meaning Floating supply meaning Floating-rate contract meaning Floating-rate note (FRN) meaning Floating-rate payer meaning Floating-rate preferred meaning Floor broker meaning Floor planning meaning Floor trader meaning Flower bond meaning Flow-through basis meaning Flow-through method meaning Force majeure risk meaning Forced conversion meaning Foreign banking market meaning Foreign bond meaning Foreign bond market meaning Foreign currency meaning Foreign currency option meaning Foreign currency translation meaning Foreign direct investment (FDI) meaning Foreign equity market meaning Foreign exchange meaning Foreign exchange controls meaning Foreign exchange dealer meaning Foreign exchange risk meaning Foreign exchange swap meaning Foreign market meaning Foreign market beta meaning Foreign Sales Corporation (FSC) meaning Foreign tax credit meaning Forex meaning Forfaiter meaning Formula basis meaning 48-hour rule meaning Forward contract meaning Forward cover meaning Forward delivery meaning Forward differential meaning Forward discount meaning Forward exchange rate meaning Forward Fed funds meaning Forward forward contract meaning Forward interest rate meaning Forward looking multiple meaning Forward market meaning Forward premium meaning Forward rate meaning Forward rate agreement (FRA) meaning Forward sale meaning Forward trade meaning Fourth market meaning Freddie Mac (Federal Home Loan Mortgage Corporation) meaning Free cash flows meaning Free float meaning Free on board meaning Free reserves meaning Free rider meaning Frequency distribution meaning Friction costs meaning Frictions meaning Front fee meaning Full faith-and-credit obligations meaning Full coupon bond meaning Full price meaning Full-payout lease meaning Full-service lease meaning Fully diluted earnings per shares meaning Fully modified pass-throughs meaning Functional currency meaning Fund family meaning Fundamental analysis meaning Fundamental beta meaning Fundamental descriptors meaning Funded debt meaning Funding ratio meaning Funding risk meaning Funds From Operations (FFO) meaning Future meaning Future investment opportunities meaning Future value meaning Futures meaning Futures commission merchant meaning Futures contract meaning Futures contract multiple meaning Futures market meaning Futures option meaning Futures price meaning Gamma meaning Garmen-Kohlhagen option pricing model meaning Gearing meaning GEMs (growing-equity mortgages) meaning General cash offer meaning General obligation bonds meaning General partner meaning General partnership meaning Generally Accepted Accounting Principals (GAAP) meaning Generic meaning Geographic risk meaning Geometric mean return meaning Gestation repo meaning Gilts meaning Ginnie Mae meaning Give up meaning Glass-Steagall Act meaning Global bonds meaning Global fund meaning Globalization meaning GMCs (guaranteed mortgage certificates) meaning GNMA-I meaning GNMA-II meaning GNMA Midget meaning Gnomes meaning Go-around meaning Going-private transactions meaning Gold exchange standard meaning Gold standard meaning Golden parachute meaning Good delivery meaning Good delivery and settlement procedures meaning Good 'til canceled meaning Goodwill meaning Government bond meaning Government National Mortgage Association (Ginnie Mae) meaning Government sponsored enterprises meaning Government securities meaning Graduated-payment mortgages (GPMs) meaning Graham-Harvey Measure 1 meaning Graham-Harvey Measure 2 meaning Grantor trust meaning Gray market meaning Greenmail meaning Greenshoe option meaning Gross domestic product (GDP) meaning Gross interest meaning Gross national product (GNP) meaning Gross profit margin meaning Gross spread meaning Group of five (G-5) meaning Group of seven (G-7) meaning Group rotation manager meaning Growing perpetuity meaning Growth manager meaning Growth opportunity meaning Growth phase meaning Growth rates meaning Growth stock meaning Guaranteed insurance contract meaning Guaranteed investment contract (GIC) meaning Guarantor program meaning Haircut meaning Handle meaning Hard capital rationing meaning Hard currency meaning Harmless warrant meaning Head & shoulders meaning Hedge meaning Hedge fund meaning Hedge ratio (delta) meaning Hedged portfolio meaning Hedgie meaning Hedging meaning Hedging demands meaning Hell-or-high-water contract meaning Herstatt risk meaning High-coupon bond refunding meaning High price meaning High-yield bond meaning Highly leveraged transaction (HLT) meaning Historical exchange rate meaning Hit meaning Holder-of-record date meaning Holding company meaning Holding period meaning Holding period return meaning Homemade dividend meaning Homemade leverage meaning Homogeneity meaning Homogeneous meaning Homogenous expectations assumption meaning Horizon analysis meaning Horizon return meaning Horizontal acquisition meaning Horizontal analysis meaning Horizontal merger meaning Horizontal spread meaning Host security meaning Hot money meaning Hubris meaning Human capital meaning Hurdle rate meaning Hybrid meaning Hybrid security meaning Idiosyncratic Risk meaning Immediate settlement meaning Immunization meaning Immunization strategy meaning Implied call meaning Implied repo rate meaning Implied volatility meaning Import-substitution development strategy meaning Imputation tax system meaning Income beneficiary meaning Income bond meaning Income fund meaning Income statement (statement of operations) meaning Income stock meaning Incremental cash flows meaning Incremental costs and benefits meaning Incremental internal rate of return meaning Indenture meaning Independent project meaning Index and Option Market (IOM) meaning Index arbitrage meaning Index fund meaning Index model meaning Index option meaning Index warrant meaning Indexed bond meaning Indexing meaning Indicated dividend meaning Indicated yield meaning See meaning Indifference curve meaning Indirect quote meaning Inductive reasoning meaning Industry meaning Industrial revenue bond (IRB) meaning Inflation meaning Inflation risk meaning Inflation uncertainty meaning Inflation-escalator clause meaning Information asymmetry meaning Information Coefficient (IC) meaning Information costs meaning Information services meaning Information-content effect meaning Informational efficiency meaning Informationless trades meaning Information-motivated trades meaning Initial margin requirement meaning Initial public offering (IPO) meaning Input-output tables meaning Insider information meaning Insider trading meaning Insiders meaning Insolvency risk meaning Insolvent meaning Installment sale meaning Institutional investors meaning Institutionalization meaning Instruments meaning Insurance principle meaning Insured bond meaning Insured plans meaning Intangible asset meaning Integer programming meaning Intercompany loan meaning Intercompany transaction meaning Interest meaning Interest coverage ratio meaning Interest coverage test meaning Interest equalization tax meaning Interest payments meaning Interest on interest See meaning Interest-only strip (IO) meaning Interest rate agreement meaning Interest rate cap meaning Interest rate ceiling meaning Interest rate floor meaning Interest rate on debt meaning Interest rate parity theorem meaning Interest rate risk meaning Interest rate swap meaning Interest subsidy meaning Interest tax shield meaning Intermarket sector spread meaning Intermarket spread swaps meaning Intermediate-term meaning Intermediation meaning Internal finance meaning Internal growth rate meaning Internal market meaning Compare meaning Internal measure meaning Internal rate of return meaning Internally efficient market meaning International Bank for Reconstruction and Development - IBRD or World Bank meaning International Banking Facility (IBF) meaning International bonds meaning International Depository Receipt (IDR) meaning International diversification meaning International finance subsidiary meaning International Fisher effect meaning International fund meaning International market meaning International Monetary Fund meaning International Monetary Market (IMM) meaning In-the-money meaning Intramarket sector spread meaning Intrinsic value of an option meaning Intrinsic value of a firm meaning Inventory meaning Inventory loan meaning Inventory turnover meaning Inverse floating rate note meaning Inverted market meaning Investment analysts meaning Investment bank meaning Investment decisions meaning Investment grade bonds meaning Investment income meaning Investment management meaning Investment manager meaning Investment product line (IPML) meaning Investment tax credit meaning Investment trust meaning Investment value meaning Investments meaning Investor meaning Investor fallout meaning Investor relations meaning Investor's equity meaning Invoice meaning Invoice billing meaning Invoice date meaning Invoice price meaning In-house processing float meaning In-substance defeasance meaning In the box meaning Involuntary liquidation preference meaning IRA/Keogh accounts meaning Irrational call option meaning Irrelevance result meaning ISDA meaning ISMA meaning Issue meaning Issued share capital meaning Issuer meaning J-curve meaning Jensen index meaning Joint account meaning Joint clearing members meaning Jumbo loan meaning Junk bond meaning Junior debt (subordinate debt) meaning Just-in-time inventory systems meaning Kappa meaning Kiretsu meaning Ladder strategy meaning Lag meaning Lag response of prepayments meaning Lambda meaning Last split meaning Last trading day meaning Last-In-First-Out (LIFO) meaning Law of large numbers meaning Law of one price meaning Lead meaning Lead manager meaning Leading economic indicators meaning Leakage meaning LEAPS meaning Lease meaning Lease Rate meaning Ledger cash meaning Legal capital meaning Legal bankruptcy meaning Legal defeasance meaning Legal investments meaning Lend meaning Lessee meaning Lessor meaning Letter of comment meaning Letter of credit (L/C) meaning Letter stock meaning Level pay meaning Level-coupon bond meaning Leverage meaning Leverage clientele meaning Leverage ratios meaning Leverage rebalancing meaning Leveraged beta meaning Leveraged buyout (LBO) meaning Leveraged equity meaning Leveraged lease meaning Leveraged portfolio meaning Leveraged required return meaning Liability meaning Liability funding strategies meaning Liability swap meaning LIBOR meaning Lien meaning LIFO (Last-in-first-out) meaning Lifting a leg meaning Limit order meaning Limit order book meaning Limit price meaning Limitation on asset dispositions meaning Limitation on liens meaning Limitation on merger, consolidation, or sale meaning Limitation on sale-and-leaseback meaning Limitation on subsidiary borrowing meaning Limited liability meaning Limited partner meaning Limited partnership meaning Limited-liability instrument meaning Limited-tax general obligation bond meaning Line of credit meaning Linear programming meaning Linear regression meaning Linter's observations meaning Liquid asset meaning Liquid yield option note (LYON) meaning Liquidating dividend meaning Liquidation meaning Liquidation rights meaning Liquidation value meaning Liquidator meaning Liquidity meaning Liquidity diversification meaning Liquidity preference hypothesis meaning Liquidity premium meaning Liquidity ratios meaning Liquidity risk meaning Liquidity theory of the term structure meaning Listed stocks meaning Load fund meaning Load-to-load meaning Loan amortization schedule meaning Loan syndication See meaning Loan value meaning Local expectations theory meaning Lockbox meaning Locked market meaning Lock-out meaning Lock-up CDs meaning Log-linear least-squares method meaning Lognormal distribution meaning London International Financial Futures Exchange (LIFFE) meaning Long meaning Long bonds meaning Long coupons meaning Long hedge meaning Long position meaning Long run meaning Long straddle meaning Long-term meaning Long-term assets meaning Long-term debt meaning Long-term debt/capitalization meaning Long-term debt ratio meaning Long-term financial plan meaning Long-term liabilities meaning Long-term debt to equity ratio meaning Look-thru meaning Lookback option meaning Low-coupon bond refunding meaning Low price meaning Low price-earnings ratio effect meaning Ladder strategy meaning Lag meaning Lag response of prepayments meaning Lambda meaning Last split meaning Last trading day meaning Last-In-First-Out (LIFO) meaning Law of large numbers meaning Law of one price meaning Lead meaning Lead manager meaning Leading economic indicators meaning Leakage meaning LEAPS meaning Lease meaning Lease Rate meaning Ledger cash meaning Legal capital meaning Legal bankruptcy meaning Legal defeasance meaning Legal investments meaning Lend meaning Lessee meaning Lessor meaning Letter of comment meaning Letter of credit (L/C) meaning Letter stock meaning Level pay meaning Level-coupon bond meaning Leverage meaning Leverage clientele meaning Leverage ratios meaning Leverage rebalancing meaning Leveraged beta meaning Leveraged buyout (LBO) meaning Leveraged equity meaning Leveraged lease meaning Leveraged portfolio meaning Leveraged required return meaning Liability meaning Liability funding strategies meaning Liability swap meaning LIBOR meaning Lien meaning LIFO (Last-in-first-out) meaning Lifting a leg meaning Limit order meaning Limit order book meaning Limit price meaning Limitation on asset dispositions meaning Limitation on liens meaning Limitation on merger, consolidation, or sale meaning Limitation on sale-and-leaseback meaning Limitation on subsidiary borrowing meaning Limited liability meaning Limited partner meaning Limited partnership meaning Limited-liability instrument meaning Limited-tax general obligation bond meaning Line of credit meaning Linear programming meaning Linear regression meaning Linter's observations meaning Liquid asset meaning Liquid yield option note (LYON) meaning Liquidating dividend meaning Liquidation meaning Liquidation rights meaning Liquidation value meaning Liquidator meaning Liquidity meaning Liquidity diversification meaning Liquidity preference hypothesis meaning Liquidity premium meaning Liquidity ratios meaning Liquidity risk meaning Liquidity theory of the term structure meaning Listed stocks meaning Load fund meaning Load-to-load meaning Loan amortization schedule meaning Loan syndication See meaning Loan value meaning Local expectations theory meaning Lockbox meaning Locked market meaning Lock-out meaning Lock-up CDs meaning Log-linear least-squares method meaning Lognormal distribution meaning London International Financial Futures Exchange (LIFFE) meaning Long meaning Long bonds meaning Long coupons meaning Long hedge meaning Long position meaning Long run meaning Long straddle meaning Long-term meaning Long-term assets meaning Long-term debt meaning Long-term debt/capitalization meaning Long-term debt ratio meaning Long-term financial plan meaning Long-term liabilities meaning Long-term debt to equity ratio meaning Look-thru meaning Lookback option meaning Low-coupon bond refunding meaning Low price meaning Low price-earnings ratio effect meaning Macaulay duration meaning Magic of diversification meaning Mail float meaning Maintenance margin requirement meaning Make a market meaning Making delivery meaning Majority voting meaning Managed float meaning Management/closely held shares meaning Management buyout (MBO) meaning Management fee meaning Mangement's discussion meaning Managerial decisions meaning Mandatory redemption schedule meaning Manufactured housing securities (MHSs) meaning Margin meaning Margin account (Stocks) meaning Margin call meaning Margin of safety meaning Margin requirement (Options) meaning Marginal meaning Marginal tax rate meaning Mark-to-market meaning Marked-to-market meaning Market capitalization meaning Market capitalization rate meaning Market clearing meaning Market conversion price meaning Market cycle meaning Market impact costs meaning Market model meaning Market order meaning Market overhang meaning Market portfolio meaning Market price of risk meaning Market prices meaning Market return meaning Market risk meaning Market sectors meaning Market segmentation theory or preferred habitat theory meaning Market timer meaning Market timing meaning Market timing costs meaning Market value meaning Market value ratios meaning Market value-weighted index meaning Market-book ratio meaning Market-if-touched (MIT) meaning Marketability meaning Marketed claims meaning Marketplace price efficiency meaning Markowitz diversification meaning Markowitz efficient frontier meaning Markowitz efficient portfolio meaning Markowitz efficient set of portfolios meaning Master limited partnership (MLP) meaning Matador market meaning Match fund meaning Matched book meaning Matching concept meaning Materials requirement planning meaning Mathematical programming meaning Mature meaning Maturity meaning Maturity factoring meaning Maturity phase meaning Maturity spread meaning Maturity value meaning Maximum price fluctuation meaning MBS Depository meaning MBS servicing meaning Mean meaning Mean of the sample meaning Mean-variance analysis meaning Mean-variance criterion meaning Mean-variance efficient portfolio meaning Measurement error meaning Medium-term note meaning Membership or a seat on the exchange meaning Merchandise meaning Merchant bank meaning Merger meaning Mimic meaning Minimum price fluctuation meaning Minimum purchases meaning Minimum-variance frontier meaning Minimum-variance portfolio meaning Minority interest meaning Mismatch bond meaning Modeling meaning Modern portfolio theory meaning Modified duration meaning Modified pass-throughs meaning Modigliani and Miller Proposition I meaning Modigliani and Miller Proposition II meaning Monetary gold meaning Monetary policy meaning Monetary / non-monetary method meaning Money base meaning Money center banks meaning Money management meaning Money manager meaning Money market meaning Money market demand account meaning Money market fund meaning Money market hedge meaning Money market notes meaning Money purchase plan meaning Money rate of return meaning Monitor meaning Monte Carlo simulation meaning Monthly income preferred security (MIP) meaning Moral hazard meaning Mortality tables meaning Mortgage meaning Mortgage bond meaning Mortgage duration meaning Mortgage pass-through security meaning Mortgage pipeline meaning Mortgage-pipeline risk meaning Mortgage rate meaning Mortgage-Backed Securities Clearing Corporation meaning Mortgage-backed securities meaning Mortgagee meaning Mortgager meaning Most distant futures contract meaning Moving average meaning Multicurrency clause meaning Multicurrency loans meaning Multifactor CAPM meaning Multinational corporation meaning Multifamily loans meaning Multiperiod immunization meaning Multiple rates of return meaning Multiple regression meaning Multiples meaning Multiple-discriminant analysis (MDA) meaning Multiple-issuer pools meaning Multirule system meaning Multi-option financing facility meaning Municipal bond meaning Municipal notes meaning Mutual fund meaning Mutual fund theorem meaning Mutual offset meaning Mutually exclusive investment decisions meaning Naive diversification meaning Naked option strategies meaning NASDAQ meaning National Futures Association (NFA) meaning National market meaning Nationalization meaning Natural logarithm meaning Nearby meaning Nearby futures contract meaning Negative amortization meaning Negative carry meaning Negative convexity meaning Negative covenant meaning Negative duration meaning Negative pledge clause meaning Neglected firm effect meaning Negotiated certificate of deposit meaning Negotiated markets meaning Negotiated offering meaning Negotiated sale meaning Negotiable order of withdrawal (NOW) meaning Net adjusted present value meaning Net advantage of refunding meaning Net advantage to leasing meaning Net advantage to merging meaning Net asset value (NAV) meaning Net assets meaning Net benefit to leverage factor meaning Net book value meaning Net cash balance meaning Net change meaning Net errors and omissions meaning Net financing cost meaning Net float meaning Net income meaning Net investment meaning Net lease meaning Net operating losses meaning Net operating margin meaning Net period meaning Net present value (NPV) meaning Net present value of growth opportunities meaning Net present value of future investments meaning Net present value rule meaning Net profit margin meaning Net salvage value meaning Net working capital meaning Net worth meaning Netting meaning Netting out meaning Neutral period meaning New York Stock Exchange (NYSE) meaning New-issues market meaning New money meaning Next futures contract meaning Nexus (of contracts) meaning NM meaning No load mutual fund meaning Noise meaning No-load fund meaning Nominal meaning Nominal annual rate meaning Nominal cash flow meaning Nominal exchange rate meaning Nominal interest rate meaning Nominal price meaning Non-cumulative preferred stock meaning Non-financial services meaning Non-insured plans meaning Non-parallel shift in the yield curve meaning Non-reproducible assets meaning Non-tradables meaning Noncash charge meaning Noncompetitive bid meaning Nondiversifiability of human capital meaning Nondiversifiable risk meaning Nonmarketed claims meaning Nonrecourse meaning Nonredeemable meaning Nonrefundable meaning Nonsystematic risk meaning Normal annuity form meaning Normal backwardation theory meaning Normal deviate meaning Normal probability distribution meaning Normal portfolio meaning Normal random variable meaning Normalizing method meaning Note meaning Note agreement meaning Note issuance facility (NIF) meaning Notes to the financial statements meaning Notice day meaning Notification date meaning Notional principal amount meaning Novation meaning NPV meaning NPV profile meaning Objective (mutual funds) meaning Odd lot meaning Odd lot dealer meaning Off-balance-sheet financing meaning Offer meaning Offer price meaning Offering memorandum meaning Official reserves meaning Official statement meaning Official unrequited transfers meaning Offset meaning Offshore finance subsidiary meaning Old-line factoring meaning Omnibus account meaning On the run meaning One man picture meaning One-factor APT meaning One-way market meaning Open account meaning Open book meaning Open contracts meaning Open interest meaning Open (good-til-cancelled) order meaning Open position meaning Open repo meaning Open-end fund meaning Open-end mortgage meaning Open-market operation meaning Open-market purchase operation meaning Open-outcry meaning Opening, the meaning Opening price meaning Opening purchase meaning Opening sale meaning Operating cash flow meaning Operating cycle meaning Operating exposure meaning Operating profit margin meaning Operating lease meaning Operating leverage meaning Operating risk meaning Operationally efficient market meaning Opinion shopping meaning Opportunity cost of capital meaning Opportunity costs meaning Opportunity set meaning Optimal contract meaning Optimal portfolio meaning Optimal redemption provision meaning Optimization approach to indexing meaning Option meaning Option elasticity meaning Option not to deliver meaning Option premium meaning Option price meaning Option seller meaning Option writer meaning Option-adjusted spread (OAS) meaning Options contract meaning Options contract multiple meaning Options on physicals meaning Organized exchange meaning Original face value meaning Original issue discount debt (OID debt) meaning Original margin meaning Original maturity meaning Origination meaning OTC meaning Other capital meaning Other current assets meaning Other long term liabilities meaning Other sources meaning Out-of-the-money option meaning Outright rate meaning Outsourcing meaning Outstanding share capital meaning Outstanding shares meaning Overbought\oversold indicator meaning Overfunded pension plan meaning Overlay strategy meaning Overnight delivery risk meaning Overnight repo meaning Overperform meaning Overreaction hypothesis meaning Overshooting meaning Oversubscribed issue meaning Oversubscription privilege meaning Over-the-counter market (OTC) meaning P&L meaning P&S meaning P/E meaning P/E ratio meaning P/E effect meaning PSA meaning Pac-Man strategy meaning Pairoff meaning Paper meaning Paper gain (loss) meaning Par value meaning Parallel loan meaning Parallel shift in the yield curve meaning Parameter meaning See meaning Parity value meaning Participating GIC meaning Participating fees meaning Partnership meaning See meaning Passive portfolio strategy meaning Pass-through rate meaning Pass-through securities meaning Pass-through coupon rate meaning Passive investment strategy meaning Passive investment management meaning Passive portfolio meaning Path dependent option meaning Payable through drafts meaning Payables meaning Payback meaning Paydown meaning Payment date meaning Payment float meaning Payments netting meaning Payments pattern meaning Payout ratio meaning Pay-up meaning Payment-In-Kind (PIK) bond meaning Peak meaning Pecking-order view (of capital structure) meaning Pension Benefit Guaranty Corporation (PBGC) meaning Pension plan meaning Pension sponsors meaning Perfect capital market meaning Perfect competition meaning Perfect hedge meaning Perfect market view (of capital structure) meaning Perfect market view (of dividend policy) meaning Perfectly competitive financial markets meaning Perfected first lien meaning Performance attribution analysis meaning Performance evaluation meaning Performance measurement meaning Performance shares meaning Perpetual warrants meaning Perpetuity meaning Perquisites meaning Personal tax view (of capital structure) meaning Personal trust meaning Philadelphia Stock Exchange (PHLX) meaning Phone switching meaning PIBOR (Paris Interbank Offer Rate) meaning Pickup meaning Picture meaning Pie model of capital structure meaning Pit meaning Pit committee meaning Pivot meaning Placement meaning Plain vanilla meaning Plan for reorganization meaning Plan sponsors meaning Planned amortization class CMO meaning Planned capital expenditure program meaning Planned financing program meaning Planning horizon meaning Plowback rate meaning Plug meaning Plus meaning Point meaning Point and figure chart meaning Poison pill meaning Poison put meaning Policy asset allocation meaning Political risk meaning Pool factor meaning Pooling of interests meaning Portfolio meaning Portfolio insurance meaning Portfolio internal rate of return meaning Portfolio opportunity set meaning Portfolio management meaning Portfolio manager meaning Portfolio separation theorem meaning Portfolio turnover rate meaning Portfolio variance meaning Position meaning Position diagram meaning Positive carry meaning Positive convexity meaning Positive covenant (of a bond) meaning Positive float meaning Possessions corporation meaning Post meaning Post-audit meaning Postponement option meaning Posttrade benchmarks meaning Preauthorized checks (PACs) meaning Preauthorized electronic debits (PADs) meaning Precautionary demand (for money) meaning Precautionary motive meaning Preemptive right meaning Preferred equity redemption stock (PERC) meaning Preference stock meaning Preferred habitat theory meaning Preferred shares meaning See meaning Preferred stock meaning Preferred stock agreement meaning Preliminary prospectus meaning Premium meaning Premium bond meaning Prepackaged bankruptcy meaning Prepayment speed meaning Prepayments meaning Prerefunded bond meaning Present value meaning Present value factor meaning Present value of growth opportunities meaning Presold issue meaning Pre-trade benchmarks meaning Price/book ratio meaning Price/earnings ratio meaning Price/sales ratio meaning Price compression meaning Price discovery process meaning Price elasticities meaning Price impact costs meaning Price momentum meaning Price persistence meaning Price risk meaning Price takers meaning Priced out meaning Price value of a basis point (PVBP) meaning Prices meaning Price-specie-flow mechanism meaning Price-volume relationship meaning Pricing efficiency meaning Primary market meaning Primary offering meaning Primitive security meaning Prime rate meaning Principal meaning Principal of diversification meaning Principal-agent relationship meaning Principal amount meaning Principal only (PO) meaning Private Export Funding Corporation (PEFCO) meaning Private-label pass-throughs meaning Private placement meaning Private unrequited transfers meaning Privatization meaning Pro forma capital structure analysis meaning Pro forma financial statements meaning Pro forma statement meaning Probability meaning Probability density function meaning Probability distribution meaning Probability function meaning Product cycle meaning Product risk meaning Production payment financing meaning Production-flow commitment meaning Profit margin meaning Profitability index meaning Profitability ratios meaning Pro forma financial statements meaning Program trades meaning Program trading meaning Progress review meaning Progressive tax system meaning Project loan certificate (PLC) meaning Project loan securities meaning Project loans meaning Project notes (PNs) meaning Project financing meaning Projected benefit obligation (PBO) meaning Projected maturity date meaning Promissory note meaning Property rights meaning Prospectus meaning Protectionism meaning Protective covenant meaning Protective put buying strategy meaning Provisional call feature meaning Proxy meaning Proxy contest meaning Proxy vote meaning Public offering meaning Public Securities Administration (PSA) meaning Public warehouse meaning Publicly traded assets meaning Puke meaning Purchase meaning Purchase accounting meaning Purchase agreement meaning Purchase and sale meaning Purchase fund meaning Purchase method meaning Purchasing power parity meaning Purchasing-power risk meaning Pure-discount bond meaning Pure expectations theory meaning Pure index fund meaning Pure yield pickup swap meaning Put meaning Put an option meaning Put bond meaning Put option meaning Put price meaning Put provision meaning Put swaption meaning Put-call parity relationship meaning Pyramid scheme meaning Q ratio or Tobin's Q ratio meaning Quadratic programming meaning Quality option meaning Quality spread meaning Quanto swap meaning Quantos meaning Quick assets meaning Quick ratio meaning Quotation meaning R squared (R2) meaning Rally (recovery) meaning RAMs (Reverse-annuity mortgages) meaning Random variable meaning Random walk meaning Randomized strategy meaning Range meaning Range forward meaning Rate anticipation swaps meaning Rate lock meaning Rate of interest meaning Rate of return ratios meaning Rate risk meaning Ratings meaning Rational expectations meaning Raw material supply agreement meaning Reaction meaning Real assets meaning Real capital meaning Real cash flow meaning Real exchange rates meaning Real interest rate meaning Real market meaning Real time meaning Realized compound yield meaning Realized return meaning Rebalancing meaning Receivables balance fractions meaning Receivables turnover ratio meaning Receiver meaning Reclamation meaning Record date meaning Recourse meaning Red herring meaning Redeemable meaning Redemption charge meaning Redemption cushion meaning Reference rate meaning Refundable meaning Refunded bond meaning Refunding meaning Regional fund meaning Registered bond meaning Registered representative meaning Registered trader meaning Registrar meaning Registration statement meaning Regression analysis meaning Regression equation meaning Regression toward the mean meaning Regular way settlement meaning Regulation A meaning Regulation D meaning Regulation M meaning Regulation Q meaning Regulatory accounting procedures meaning Regulatory pricing risk meaning Regulatory surplus meaning Reinvestment rate meaning Reinvestment risk meaning Reinvoicing center meaning REIT (real estate investment trust) meaning Relative purchasing power parity (RPPP) meaning Relative strength meaning Relative value meaning Relative yield spread meaning Remainderman meaning Remaining maturity meaning Remaining principal balance meaning Rembrandt market meaning REMIC (real estate mortgage investment conduit) meaning Remote disbursement meaning Rental lease meaning Reoffering yield meaning Reopen an issue meaning Reorganization meaning Replacement cost meaning Replacement cycle meaning Replacement value meaning Replacement-chain problem meaning Replicating portfolio meaning Repo meaning Reported factor meaning Reporting currency meaning Reproducible assets meaning Repurchase agreement meaning Repurchase of stock meaning Required reserves meaning Required return meaning Required yield meaning Reserve meaning Reserve currency meaning Reserve ratios meaning Reserve requirements meaning Reset frequency meaning Residuals meaning Residual assets meaning Residual claim meaning Residual dividend approach meaning Residual losses meaning Residual method meaning Residual risk meaning Residual value meaning Resistance level meaning Restrictive covenants meaning Retail meaning Retail credit See meaning Retail investors individual investors meaning Retained earnings meaning Retention rate meaning Retire meaning Retracement meaning Return meaning Return on assets (ROA) meaning Return on equity (ROE) meaning Return on investment (ROI) meaning Return on total assets meaning Return-to-maturity expectations meaning Revaluation meaning Revenue bond meaning Revenue fund meaning Reverse price risk meaning Reverse repo meaning Reverse stock split meaning Reversing trade meaning Revolving credit agreement meaning Revolving line of credit meaning Reward-to-volatility ratio meaning Riding the yield curve meaning Right meaning Rights offering meaning Rights-on meaning Rings meaning Risk meaning Risk-adjusted profitability meaning Risk arbitrage meaning Risk averse meaning Risk classes meaning Risk controlled arbitrage meaning Risk indexes meaning Risk lover meaning Risk management meaning Risk neutral meaning Risk prone meaning Risk premium meaning Risk premium approach meaning Riskless rate meaning Riskless rate of return meaning Riskless arbitrage meaning Riskless or risk-free asset meaning Risky asset meaning Risk-adjusted return meaning Risk-free asset meaning Risk-free rate meaning Roll over meaning Rollover meaning Round lot meaning Round-trip transactions costs meaning Round-turn meaning R squared (R2) meaning Rule 144a meaning Run meaning Rule 415 meaning Safe harbor lease meaning Safekeep meaning Safety cushion meaning Safety-net return meaning Sale and lease-back meaning Sales charge meaning Sales forecast meaning Sales-type lease meaning Salvage value meaning Samurai bond meaning Samurai market meaning Savings and Loan association meaning Savings deposits meaning SBIC meaning Scale meaning Scale enhancing meaning Scale in meaning Scalp meaning Scenario analysis meaning Scheduled cash flows meaning Search costs meaning Seasoned datings meaning Seasoned issue meaning Seasoned new issue meaning SEC meaning Second pass regression meaning Secondary issue meaning Secondary market meaning Sector meaning Section 482 meaning Secured debt meaning Securities & Exchange Commission meaning Securities analysts meaning Securitization meaning Security meaning Security characteristic line meaning Security deposit (initial) meaning Security deposit (maintenance) meaning Security market line meaning Security market plane meaning Security selection meaning Security selection decision meaning Self-liquidating loan meaning Self-selection meaning Sell hedge meaning Sell limit order meaning Selling group meaning Selling short meaning Sell-side analyst meaning Semi-strong form efficiency meaning Senior debt meaning Seniority meaning Sensitivity analysis meaning Separation property meaning Separation theorem meaning Serial bonds meaning Serial covariance meaning Series bond meaning Series meaning Set of contracts perspective meaning Settlement meaning Settlement date meaning Settlement price meaning Settlement rate meaning Seykota, Ed meaning Share repurchase meaning Shareholders' equity meaning Shareholders' letter meaning Shares meaning Shark repellant meaning Sharpe benchmark meaning Sharpe ratio meaning Shelf registration meaning Shirking meaning Shogun bond meaning Shop meaning Shopping meaning Short meaning Short bonds meaning Short book meaning Short hedge meaning Short interest meaning Short position meaning Short sale meaning Short selling meaning Short squeeze meaning Short straddle meaning Shortage cost meaning Shortfall risk meaning Short-run operating activities meaning Short-term financial plan meaning Short-term investment services meaning Short-term solvency ratios meaning Short-term tax exempts meaning SIC meaning Side effects meaning Sight draft meaning SIMEX (Singapore International Monetary Exchange) meaning Simple prospect meaning Single country fund meaning Single factor model meaning Single index model meaning Signal meaning Signaling approach meaning Signaling view (on dividend policy) meaning Simple compound growth method meaning Simple interest meaning Simple linear regression meaning Simple linear trend model meaning Simple moving average meaning Simulation meaning See meaning Single-index model meaning Single-payment bond meaning Single-premium deferred annuity meaning Sinker meaning Sinking fund requirement meaning Size meaning Skewed distribution meaning Skip-day settlement meaning Slippage meaning Small-firm effect meaning Small issues exemption meaning Smithsonian agreement meaning Society for Worldwide Interbank Financial Telecommunications (SWIFT) meaning "Soft" Capital Rationing meaning Soft currency meaning Soft dollars meaning Sole proprietorship meaning Sovereign risk meaning Span meaning Special dividend meaning Special drawing rights (SDR) meaning Specialist meaning Specific issues market meaning Specific risk meaning Spectail meaning Speculative demand (for money) meaning Speculative grade bond meaning Speculative motive meaning Speculator meaning Speed meaning Spin-off meaning Split meaning Split-fee option meaning Split-rate tax system meaning Spot exchange rates meaning Spot futures parity theorem meaning Spot interest rate meaning Spot lending meaning Spot markets meaning Spot month meaning Spot price meaning Spot rate meaning Spot rate curve meaning Spot trade meaning Spread meaning Spread income meaning Spread strategy meaning Spreadsheet meaning Stakeholders meaning Stand-alone principle meaning Standard deviation meaning Standard error meaning Standardized normal distribution meaning Standardized value meaning Standby agreement meaning Standby fee meaning Standstill agreements meaning Stated annual interest rate meaning Stated conversion price meaning Stated maturity meaning Statement billing meaning Statement of cash flows meaning Statement-of-cash-flows method meaning Statement of Financial Accounting Standards No. 8 meaning Statement of Financial Accounting Standards No. 52 meaning Static theory of capital structure meaning Statutory surplus meaning Steady state meaning Steepening of the yield curve meaning Step-up meaning Step-up bond meaning Sterilized intervention meaning Stochastic models meaning Stock meaning Stock dividend meaning Stock exchanges meaning Stock repurchase meaning Stock selection meaning Stockholder equity meaning Stock index option meaning Stock market meaning Stock option meaning Stock replacement strategy meaning Stock split meaning See meaning Stock ticker meaning Stockholder meaning Stockholder's books meaning Stockholder's equity meaning Stockout meaning Stop-loss order meaning Stop order (or stop) meaning Stopping curve meaning Stopping curve refunding rate meaning Stop-limit order meaning Straddle meaning Straight line depreciation meaning Straight value meaning Straight voting meaning Stratified equity indexing meaning Stratified sampling approach to indexing meaning Stratified sampling bond indexing meaning Street meaning Street name meaning Strike index meaning Strike price meaning Strip mortgage participation certificate (strip PC) meaning Stripped bond meaning Stripped mortgage-backed securities (SMBSs) meaning Strip, strap meaning Strong-form efficiency meaning Structured arbitrage transaction meaning Structured debt meaning Structured portfolio strategy meaning Structured settlement meaning Subject meaning Subject to opinion meaning Subjective probabilities meaning Subordinated debenture bond meaning Subordinated debt meaning Subordination clause meaning Subpart F meaning Subperiod return meaning Subscription price meaning Subsidiary meaning Substitute sale meaning Substitution swap meaning Sum-of-the-years'-digits depreciation meaning Sunk costs meaning Supermajority meaning Supply shock meaning Support level meaning Surplus funds meaning Surplus management meaning Sushi bond meaning Sustainable growth rate meaning Swap meaning Swap assignment meaning Swap buy-back meaning Swap option meaning Swap rate meaning Swap reversal meaning Swap sale meaning Swaption meaning Sweep account meaning Swingline facility meaning Swissy meaning Switching meaning Symmetric cash matching meaning Synchronous data meaning Syndicate meaning Synergistic effect meaning Synthetics meaning Systematic meaning Systematic risk meaning Systematic risk principle meaning T-period holding-period return meaning Tactical Asset Allocation (TAA) meaning Tail meaning Take meaning Take a position meaning Take-or-pay contract meaning Take-out meaning Take-up fee meaning Takeover meaning Taking a view meaning Taking delivery meaning Tandem programs meaning TANs (tax anticipation notes) meaning Tangible asset meaning Target cash balance meaning Target firm meaning Target payout ratio meaning Target zone arrangement meaning Targeted repurchase meaning Tax anticipation bills (TABs) meaning Tax books meaning Tax clawback agreement meaning Tax differential view ( of dividend policy) meaning Tax-exempt sector meaning Tax free acquisition meaning Tax haven meaning Tax Reform Act of 1986 meaning Tax shield meaning Tax swap meaning Tax deferral option meaning Tax-deferred retirement plans meaning Tax-timing option meaning Taxable acquisition meaning Taxable income meaning Taxable transaction meaning TBA (to be announced) meaning Technical analysis meaning Technical analysts meaning Technical condition of a market meaning Technical descriptors meaning Technical insolvency meaning Technician meaning TED spread meaning Temporal method meaning Tender meaning Tender offer meaning Tender offer premium meaning 10-K meaning Term bonds meaning Tenor meaning Term Fed Funds meaning Term life insurance meaning Term bonds meaning Compare to meaning Term loan meaning Term insurance meaning Term repo meaning Term structure of interest rates meaning Term to maturity meaning See meaning Term premiums meaning Term trust meaning Terminal value meaning Terms of sale meaning Terms of trade meaning Theoretical futures price meaning Theoretical spot rate curve meaning Theta meaning Thin market meaning Thinly traded meaning Third market meaning Three-phase DDM meaning Threshold for refinancing meaning Throughput agreement meaning Tick meaning Tick indicator meaning Tick-test rules meaning Tight market meaning Tilted portfolio meaning Time decay meaning Time deposit meaning Time draft meaning Time premium meaning Time until expiration meaning Time to maturity meaning Time value of an option meaning Time value of money meaning Time-weighted rate of return meaning Times-interest-earned ratio meaning Timing option meaning Tobin's Q meaning Tolling agreement meaning Tom next meaning Tombstone meaning Top-down equity management style meaning Total asset turnover meaning Total debt to equity ratio meaning Total dollar return meaning See also meaning Total return meaning Total revenue meaning Tracking error meaning Trade meaning Trade acceptance meaning Trade credit meaning Trade date meaning Trade debt meaning Trade draft See meaning Trade on top of meaning Trade house meaning Traders meaning Trading meaning Trading costs meaning See meaning Trading halt meaning Trading paper meaning Trading posts meaning Trading range meaning Traditional view (of dividend policy) meaning Tranche meaning Transaction exposure meaning Transactions costs meaning Transaction loan meaning Transaction demand (for money) meaning Transactions motive meaning Transfer agent meaning Transfer price meaning Transferable put right meaning Transition phase meaning Translation exposure meaning Treasurer meaning Treasurer's check meaning Treasuries meaning Treasury bills meaning Treasury bonds meaning Treasury notes meaning Treasury securities meaning Treasury stock meaning Trend meaning Treynor Index meaning Triangular arbitrage meaning Triple witching hour meaning Trough meaning True interest cost meaning True lease meaning Trust deed meaning Trust receipt meaning TT&L account meaning Turnaround meaning Turnaround time meaning Turnkey construction contract meaning Turnover meaning 12B-1 fees meaning 12b-1 funds meaning Two-factor model meaning Two-fund separation theorem meaning Two-sided market meaning Two-state option pricing model meaning Two-tier tax system meaning Type meaning Unbiased predictor meaning Unbundling meaning See meaning Uncovered call meaning Uncovered put meaning Underfunded pension plan meaning Underinvestment problem meaning Underlying meaning Underlying asset meaning Underlying security meaning Underperform meaning Underpricing meaning Underwrite meaning Underwriter meaning Underwriting meaning Underwriting fee meaning Underwriting income meaning Underwriting syndicate meaning See also meaning Underwritten offering meaning Undiversifiable risk meaning Unemployment rate meaning Unfunded debt See meaning Unilateral transfers meaning Unique risk meaning See meaning Unit benefit formula meaning Unit investment trust meaning Universal life meaning Unleveraged beta meaning Unleveraged required return meaning Unlimited liability meaning Unmatched book meaning expressions meaning Unseasoned issue See meaning Unsecured debt meaning Unsterilized intervention meaning Unsystematic risk meaning Upstairs market meaning Uptick meaning Uptick trade meaning U.S. Treasury bill meaning U.S. Treasury bond meaning U.S. Treasury note meaning Utility meaning Utility value meaning Utility function meaning Value-added tax meaning Value-at-Risk model (VAR) meaning Value additivity principal meaning Value date meaning Value dating meaning Value manager meaning Vanilla issue meaning Variable meaning Variable annuities meaning Variable cost meaning Variable life insurance policy meaning Variable price security meaning Variable rate CDs meaning Variable rated demand bond (VRDB) meaning Variable rate loan meaning Variance meaning Variance minimization approach to tracking meaning Variance rule meaning Variation margin meaning Venture capital meaning Vertical acquisition meaning Vertical analysis meaning Vertical merger meaning Vertical spread meaning Virtual currency option meaning Visible supply meaning Volatility meaning Volatility risk meaning Volume meaning Voting rights meaning WACC meaning Waiting period meaning Wall Street meaning Wall Street analyst meaning Wallflower meaning Wanted for cash meaning Warehouse receipt meaning Warehousing meaning Warrant meaning Wash meaning Wasting asset meaning Watch list meaning Weak form efficiency meaning Weekend effect meaning Weighted average cost of capital meaning Weighted average coupon meaning Weighted average life meaning Weighted average maturity meaning Weighted average remaining maturity meaning Weighted average portfolio yield meaning Well diversified portfolio meaning White knight meaning Whole life insurance meaning Wholesale mortgage banking meaning Wi meaning Wi wi meaning Wild card option meaning Window contract meaning Winners's curse meaning Wire house meaning With dividend meaning With rights meaning Withdrawal plan meaning Withholding tax meaning Without meaning Without recourse meaning Woody meaning Working capital meaning Working capital management meaning Working capital ratio meaning Workout meaning Workout period meaning World Bank meaning See meaning World investible wealth meaning Write-down meaning Writer meaning W-type bottom See meaning Yankee bonds meaning Yankee CD meaning Yankee market meaning Yard meaning Yield meaning Yield curve meaning Yield curve option-pricing models meaning Yield curve strategies meaning Yield ratio meaning Yield spread strategies meaning Yield to call meaning Yield to maturity meaning Yield to worst meaning Z bond meaning Z score meaning Zero coupon bond meaning Zero prepayment assumption meaning Zero uptick meaning Zero-balance account (ZBA) meaning Zero-beta portfolio meaning Zero-coupon bond meaning Zero-investment portfolio meaning Zero-one integer programming meaning Zero-sum game meaning

 

Glossary of Financial and Business terms meanings

 

Glossary of Financial and Business terms meanings

 

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Glossary of Financial and Business terms meanings

 

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Glossary of Financial and Business terms meanings