Professional Documents
Culture Documents
待整理CFA dictionary
待整理CFA dictionary
待整理CFA dictionary
ability-to-pay principle
abnormal earnings/return
absolute advantage
absolute convergence
absolute dispersion
absolute frequency
academic arbitrage
accelerated amortization
acceleration clause
acceptance criterion
acceptance sampling
access person
account
accountant' s opinion
account balance
account form
(report form)
account payable
accounting
accounting Beta method B
B
accounting change
( AICPA)(APB) 20
(1)(2)
(3)
accounting control
accounting cycle
accounting earnings/income
accounting estimate
accounting exposure
translation
exposure
accounting equation
accounting goodwill
accounting method
accounting model
(1)(2)
(3)(4)
accounting policy making
accounting profit
1
accounting risk
accounting system
accounts payable
accounts receivable
accreting swap
accrual
accrual bond
(Z bond)
accrued expense
accrued income/revenue
accrued liabilities
accumulated depreciation
1 j 1
accumulated surplus
accumulation phase
acquisition
active participation
active return
active risk
activist strategy
actual
actuarial yield
adaptive-expectations hypothesis
additions
addition rule
add-on interest
adjustable peg
adjusted basis
adjusted Beta B
B
adjusted Beta market model B
( Mean-reverting)
1 1
adjusted forecast
adjusted R2 R2
R2
adjusted trial balance
adjusting entry
administrative fees
administrative lag
advance billing
advances
adverse opinion
advisory service
affiliated company
20-50%
affirmative covenants
after tax
against actuals
agency problem
agency relationship
agency security
agency trade
AICPA
American Institute of Certified Public Accountants
AIMR
(Association for Investment Management Research)
all-in cost
allocative efficiency
allocative inefficiency
all-or-none order
all-or-nothing option
allowance
allowable depreciation
1 j
allowance method
all-risk(ar)
Alpha
alternative hypothesis
Ho
Ha
alternative option
American option
American terms
US$/FC
amortization
amortization of goodwill
amortizing securities
amortizing swap
analysis effect
analyst
analytical method
Delta
announcement date
annual compounding
annual report
Annual percentage rate (APR)
annual report
annuitant
annuity
annuity due
annuity bond
annuity due
1
1 (compound interest method of depreciation)
anomalies
ANOVA table
F
anticipated change
anticipated inflation
anticipatory hedge
antidilutive EPS
antitrust legislation
APB Opinions
1962 -1973 31
appraisal
appreciation
( unappropriatedretained
income)
appropriation of retained earnings
approximate percentage change
a priori probability
arbitrage
arbitrage approach
arbitrage-free pricing/valuation
arbitrage opportunity
arbitrage portfolio
arbitrage principle
arbitrageur
arithmetic average
arrears
arrears swap
articulation
ascending tops
ask price
offer price
assessment
assessment ratio
assessor
asset
asset allocation
asset-based model
asset-based valuation
asset class
asset coverage
asset impairment
( FASB) 144
all-or-nothing option
Assets Under Management(AUM)
asset value
assignable causes
assignable contract
assignment
assignment of mortgage
associated person
assumable mortgage
assumption
asymmetric information
as-you-like-it option
chooser option
at a premium
at market
at per
at the close
atthe-money
at-the-money option
attribution analysis
auction market
audit
audit committee
auditor
auditor's opinion
audit report
audit trail
authorized shares
authority bond
authorized stock
autocorrelation
autocorrelation test
automatic stabilizers
automation
autonomous expenditures
ARMAARMA
autoregressive (AR) model
available asset
available cash
(1)(2)
(3)
average depreciable life
1
=
average product
average rate
average revenue
average s
BA
Bank's Acceptance
baby bond
100
back office
back-dating
back door financing
back door listing
back-end load
(Front-end load)
back simulation
(historical simulation method)
back spead
backtest
Back-to-back
back-to-back credit
back-to-back loan
back up
Backvrardated
Backwardation
backward induction
bad debt
bad delivery
balance
balanced budget
(1)(2)(3)
(1)
(2)(3)
(4)
balance of trade
balloon maturity
balloon payment
10
5000 55000
bank accommodation
bank bill/draft
bank check
bank draft
bank bill
banker's acceptance bill
banking syndicate
(Glass-Steagall Act)
bank interest
bank line
bank loan
bank money
bank note
bank of commercial
Bank overdraft
bank rate
bank reconciliation
bank reserves
bank run
bankruptcy
bankruptcy cost
barbell-bullet analysis
(1)
(2)(3)
(4)
bargaining power of suppliers
(1)
(2)(3)
barometer stock
barrier option
barrier price
barrier to entry
barter
base
(base period)(base price)
basebuilding
base case
base period
basic yield
basis
basis accounting
basis grade
Basis of an asset
basis risk
basis srvap
Basket options -
basket purchase
Bayes'formula
Bayes'theorem
BD form BD
bear
bearer
bearer bond
bearer secutity
bear floater
bear hug
bear market
bear raid
bear spread
bear squeeze
before-tax profit
bellvrether bond
30
bells and whistles
bellvrether stock
belovr par
benchmark bills
( Fannie Mae)
1
benchmark bond
benchmark error
benchmark notes
(Fannie Mae) 5 10
benchmark portfolio
beneficial owner
beneficiary
benefit principle |J
benefits paid
best-case scenario
best effort
Beta(B)
betterment
biased expectations
bid
bid and asked
bid-asked spread
bid bond
bidding up
bid in competition
bid price
Big Board
1792
bilateral arbitrage
bilateral netting
bill of exchange
bill rate
binary option
binomial distribution
n
pko1 - p l-p n
k q n p n 1
binomial model
n x
binomial probability function
binominal tree
bird-in-the-hand theory
1 1
black market
Black-Scholes formula
blanket mortgage
blanket order
blind pool
block
blocket
block houses
blocking
block order
l l
block trade/sale/transaction
1
blood bath
bloTving off
blue chip
Blue-sky laWs
board broker
board lot
100 1000
board of arbitration
board of directors
board of trade
boiler room
bond
bond categories
bond discount
bond-equivalent basis
2
bond-equivalent yield (BEY)
bond indenture
bond indexes
bond market
bond option
bond power
bond premium
bond rating
AAA D
bonds
bond
bond sinking fund
bond svrap
bond vrashing
bonus futures
book
book credit
1
book value of equity (or book value)
bootstrapping
borrower
borrower arbitrage
borrowed reserves
Boston interest
30
bottom
bottom fisher
bottom out
bottom-up investing
bought deal
boundary condition
boundary space
bourse
box plot
1 3
50% 3
1
box spread
brand name
brady bonds
breadth of market
break
breakaway gap
breakeven analysis
breakeven point
break fonvard
break point(BP)
( EBIT)
Bretton Woods
1944
Bretton Woods system
Breusch-Pagen test BP
bridge loan
bring out
broad market
broke-dealer
broken lot
100
broker
brokerage
brokerage account
brokerage house
broker associations/groups
brokered market
bubble company
bucketing
bucket shop
budget constraint
budget deficit
budget line
budget of balanced
budget of government
1
budget surplus
build-up method
bulge
bull
bulldog bond
bullet loan
bullet bond/maturity
bullion
bull market
bull pool
bull spread
bundling unbundling
bunds
buoyant
business cycle
GDP
business ethics
business expenses
1
business-interruption insurance
business risk
business segment
butterfly shifts
butterfly spread
buy-and-hold str'ategy
buy at best
buyback
buyer
buyer s market
buying hedge
buying on margin
buying outright
buying power
buy price
buy minus
buy on bid
buy order
buyout
buy-side analyst
by-product
calendar spread
call
call auction
callable bond/securities
callability
call date
call market
call (option)
call price
call protection
call provision
call risk
(1)
(2)
call schedule
candlestick chart
cannibalization
cap
cap agreement
(1)
(2)
capacity
capital
capital account
(1)
(2)
capital allocation decision
capital appreciation
( Beta)
=
capital budgeting
(operating budget)
capital charge
capital composition
capital consumption
capitaJ deepening
capital flight
capital formation
capital gain
capitaJ improvement
capitalism
capital issues
capitalization
capitalized
capitalized interest
capital lease
(1)(2)
(3) (4)
90%
capital loss
capital market
(SML)
capital markets
capital-output ratio
( GNP)
capital preservation
capital ratio
capital rationing
capital stock
capital structure
capital widening
caplet
capped floaters
capped swap
cappmg
cap rate
cap risk
carry
IEl;
book valuecarrying value
carrying broker
carrying charge
carrying value
1
book valuecarrying amount
cartel
carve-out
cash
cash account
cash-and-carry arbitrage
(carry-and-cash arbitrage)
cash budget
cash commodity
cash delivery
cash dividend
cash drag
cash equivalents
cash inflow
cash market
6
3 4 6 9
cash method of accounting
cash oufflow
cash ratio
cash reserves
cash selection
cash settlement
cash substitute
catch-up effect
catalyst
CD equivalent yield CD
360 rMM=HPY(360/t) t
HPY
ceiling
central bank
central tendency
certain world
certificate
certificate of compliance
S&L
30 ( CRE)
( AICPA)
ceteris paribus
1
66
C
change in demand
change in supply
character
characteristic line
charge
( debit)
chart
charter
Chartered FinanciaIAnalyst (CFA~)
CFA institute
67
C
charting
chartist
chart of accounts
chattel
Chebyshev's inequality
checking accounts
68
C
Chicago Mercantile Exchange (CME)
Chinese Market
choice
chooser option
as-you-like-it option
chumming
churning
China Wall
fire wall
circuit breaker
69
C
civilian labor force
16 16
claim account
claim
class
class midpoint
classical economics 8
18 19
1776
classical economists
classical theories
clean price
70
C
clearing
clearing firm
clearing house
clearing margin
clearing market
clearing member
clearing system
clientele Effect
Cliquet option
closed-end fund
NAV
71
C
closed-end investment company
closeout netting
closing
(1)(2)
(3)
(4)
closing book
closing entries
closing price
closing quote
closing quote
closing price
cluster sampling
72
C
CMT rate CMT
Coase theorem
code of ethics
coefficient of determination
coefficient of variation (CV)
coincident indicators
colnsurance
coinsurance clause
cointegrated
collar
collar agreement
73
C
collar hedge
collateral
collateralize
collection ratio
collective bargaining
74
C
collective decision making
collusion
collusive oligopoly
combination
Horizon Matching
combined interest rate and currency svrap (CIRCUS)
command economy
commercial bank
75
C
commercial credit
commercial discounts
commercial Joan
CommerciaIPaper (CP)
90
commission
commission brokers
commission house
commission rates
commitment fee
commodity
76
C
commodity forward
commodity fund
commodity futures
commodity money
commodity pool
commodity swap
77
C
commodity trading advisor
common-size statement
common stock
companion tranches
PAC-
support
trancheS
company fundamental factors
company share-related factors
comparable analysis
78
C
comparative advantage
( absolute
advantage)
comparative financial statements
comparative statics
compensating balance
compensation fund
competition
competitive bid
competitive environment
competitive equilibrium
79
C
competitive market
competitive price
competitive strategy
complement
( substitute)
S S Sc
completed contract method
complete market
completeness fund
complete portfolio
compliance programs
(1)
(2)
(3)
component percentages
composite
composite depreciatin
1 ( group
depreciation)
Composite measure
compound entry
(simple entry)
compounding
compounding frequencies
compound interest
81
C
compound journal entry
compound entry
compound option
compounding period
concentration ratio
concession
82
C
conditional convergence
conditional heteroskedasticity
conditional probability
conditional variance
condor spread
confidence interval
confidence level
l-a
conflicts to clients and prospects
AMIR AIMR
conflicts to employer
AIMR AIMR
83
C
conforming mortgage
8026
congenerlc merger
conglomerate company
conglomerate merger
conservatism
consignee
consignment
consignor
consistency
consistent estimator
consistent probability
consolidation loan
consolidation method
consolidation phase
constant-cost industry
constant dollars
85
C
Constant Proportion Portfolio Insurance (CPPI)
Stock Exposure=m(Assets - Floor)
Stock Exposure m Assets Floor
m 2 100 90
2(100-90) -20 80
constant returns to scale
construction in processs
construction loan
construction-in-progress
consumer credit
consumer's risk
}
consumer surplus
y
C
consumption
consumption asset
consumption function
C-f(y)
consumption opportunity constraint
contagion theory
contango
contestable market
contingency table
contingent claims
contingent immunization
87
C
contingent interest
contingent liability
contingent order
Continual monitoring
continuing earnings
(underlying earnings)
continued bond
continuously compounded
continuous market
Continuous time
contra account
1
contract grades
contraction phase
contraction risk
n
pass-through(1)
MBSs
(2)
contract market
contract price
contract rate
mortgage rate
contractual rate
contrarian
contributed capital
89
C
contributions
contributory negligence
control account
control chart
control premium
controlling interest
convergence
convertible debt
convenience sampling
convenience yield
conventional option
conversion
conversion factors
conversion premium
conversion price
conversion rate
conversion ratio
conversion value
converted price
convertible
convertible bond
91
C
convertible hedge
conversion security
convexity
convexity effect
cooked books
CooksD D
cooperative equilibrium
Copyright
core earnmgs
underlying earnings
corner
corporate bonds
92
C
Corporateor Within-Firmrisk
corporate reacquisition
corporation
correcting heteroskedasticity
(1)(2)(Robust
Standard Errors)
correcting multicollinearity
correlation
l
-1 0
93
C
correlation analysis
correlation coefficient
-1. 00 +1. 00 x
y x y
corridor swap
cost approach
cost average
cost-benefit analysis
cost curve
cost focus
cost leadership
cost of capital
cost of carry
94
C
cost of debt
cost parity
cost principle
cost-push inflation
cost recovery
cost valuation
cosurety
95
C
counter-cyclical securities
countercyclical policy
counterparty
counter-trend trading
counting principles
country Beta
Country risk
coupon
coupon bonds
coupon date
96
C
coupon frequencies
coupon rate
coupon stripping
coupon strips
coupon reinvestment risk
coupon yield
covarlance
covariance stationary
(1)(2)(3)
covenant
cover
covariance matrix
97
C
covariance stationary
coverage ratio
covered arbitrage
7% 10% 4% 10%
7% 10% 4% 10%
1% covered arbitrage
covered interest differential
covered margin
covered option
covered person
(AIMR)(CFA)(CFA)
98
C
covermg
crash
crawling peg
credit
credit agreement
credit analysis
credit card
99
C
credit card security
credit department
credit derivative
credit enhancement
credit event
credit exposure
credit memo/note
credit metrics
JP 1977 4
VaR
creditor
credit rating
credit sale
credit spread
credit swap
credit unions
I
critical value
C
P(-C<x<C)=
cross elasticity of demand
cross hedge
101
cross order
crossover price
crossover rate
cross-product netting
cross-rate
cross-referencing
cross-sectional analysis
cross-sectional comparison
cross-sectional data
102
C
cross-sectional return studies
cross shareholding
cross trading
cross-sectional data
cross-sectional analysis
crossover prlce
crosstabulation
Crowding-out effect
curb trading
currency
currency arbitrage
currency exposure
currency forward
currency option
currency hedging
currency in circulation
currency-option bond
currency risk
currency selection
currency swap
currency wareants
current account
105
C
CurrentAsset (CA)
current capital
working
capital
current cost
current debt
current face
current income
current issue
C
current maturity
10 6
4
current/noncurrent method E
current price
( spot price)(cash
price)
current rate
current ratio
current yield
curtailment
curvature
cushion bond
cushion spread
custodians
107
C
customer list
cut price
cutting a loss
cyclical business
cyclical change
cyclical company
cyclical stock
beta
cyclical unemployment
108
D
D
daily adjustable tax exempt securities
daily settlement
data mining/snooping
data set
data-snooping
data-snooping bias
dated date
date of declaration
date of maturity
date of record
date of trade
date processing
dating
dawn raid
day loans
day order
day-to-day repo
day trade
day trader
deadweight loss
110
D
dealer
dealer bank
dealer loan
dealer market
OTC
dealer paper
deal screening
debentures
debenture stock
debenture bond
debit
debit discount
debit spread
D
debt and equity securities available-for-sale
debt-equity ratio
debt-equity swap
debt financing
debtor
debt ratio
(debt to asset)
(debt to equity)
debt securities
debt service
deciles
112
D
decision rule
declaration date
decreasing-cost industry
dedication
deduction
deep bid
113
D
default
default premium
default rate
default risk
defeasance
defensive company
defensive stock
114
D
deferral method
deferral of costs
deferred account
deferred annuity
deferred asset
deferred bond
deferred charges
deferred bond
deferred payment note
115
deferred swap
deferred stock
deferred taxes
deficit
deficit financing
deficit spending
116
D
deflating
deflation
degree of confidence
delinquency
delist
delivery
delivery biD
117
D
delivery day
delivery month
delivery notice
delivery option
delivery point
delivery price
Delphi method
Delta
Delta - DV
PV P
Delta hedge
demand
demand-and-supply analysis
demand curve
demand deposits
demand loan
demand mortgage
demand note
demand price
119
D
demand-pull inflation
demographic trend
demography
denomination
Dependent
dependent events
dependent variable
r=f(x)y x
depletion
depletion allowance
deposit
deposit account
120
D
depository institutions
depreciable cost
depreciable value
depreciation
depreciation accounting
depreciation fund
1
depreciation method
1
depreciation of a currency
depreciation of an asset
depreciation schedule
1
121
D
depression
depth
depth of market
derivative assets
derivatives
derivatives dealers
derivative instrument
derivative security
derived demand
descending tops
descriptive statistics
D
Designated order turnauound (DOT)
detachable warrant
detecting heteroskedasticity
(1) Breusch-Pagen
(2)(Scatter Plot)
(3) F-Test F-Test
detecting multicollinearity
(1)(2) T-test
F-Test (3)
detecting seasonality
AR (1) 12
devalued
development cost
diagonal spread
D
differential swap
differential
differential duty
differential expectations
differentiated products
differentiation
differentiation parity
diff svraps
rate-differential swap
diffusion index
digested securities
digital option
124
D
dilution
dilutive securities
direct earnings
direct financing
direct method
(indirect method)
direct paper
direct placement
direct quote
DC/FC
(indirect quotation)
direct reduction mortgage
direct tax
dirty float
dirty price
(clean price)
disbursement
discontinued operations
discount
discount amortization
discount basis
discount bond
126
D
discount broker
discounted value
discounting
discount instrument
127
D
Discount insterest
discount market
discount margin
discount on securities
discount period
discount rate
discount yield
360
discouraged workers
discrete time
discretionary account
128
D
distress securities
distress selling
distribution date
distribution-free method
distribution
distributing syndicate
distributor
divergence
diversification
diversification benefits
diversified company
130
D
discretionary fiscal policy
discretionary trust
discriminant analysis
discrimination
disecononues of scale
disequilibrium
disinflation
disintermediation
dispersion
disposable income
disposal value
dissaving
diversifiable risk
divestiture
dividend
dividend arrearages
dividend capture
dividend exclusion
dividend in arrears
M&M
dividend payout ratio
dividend policy
(1)(2)(3)(4)
dividend protection
131
D
dividend account
dividend in arrears
dividend yield
division oflabor
dollar bonds
132
D
dollar-denominated issue
dollar duration
100 bp
bp
dollar interest
=
/360
dollar safety margin
dollar-weighted return
(IRR)(time-weighted return)
domicile
dominant stategy
double-barreled in security
double bottom
1 1 1 (salvage value)
double drain
double entry
doubling option
D
double top
down-and-out option
downgrade
downgrade risk
down reversal
downside variance
134
D
downtick
dorvnstreaming
downstream merger
downward-sloping demand
downturn
DOWPAC
8
Dow theory
1
draining reserves
drawdown
drawing account
drop-lock bond
Dual-currency bond
dual-currency issue
dual-indexed floater
dual trading
due diligence
due-on-sale clause
dummy variable
O 1
dumping
136
D
duopoly
DuPont analysis
DuPont system
ROE ROE (1)
(2)(3)
durable goods
duration
(modified duration)
duration-convexity approach
duration matching
duration strategy
10 10
Durbin-Watson statistic DW
D =
(et - et_i )2
et2
i=l
Dutch auction
137
D
duty to employer
AIMR
dynamic hedging
Delta
dynamic true growth model
( r>k
m>l)
138
E
E
EAFT index
(MSCD)
early exercise
early stage
early-stage investment
earned income
earned surplus
earnmgs
earnings growth rate (g)
earmngs momentum
E
earnings multiplier model
earnings multiplier
earnlngs power
earnlngsquality
earnlngs surprise
earnings statement
earnings test
easy-money policy
econometrics
E
economic earnings
economic efficiency
(1)
(2)
economlc exposure
(annountting exposure)
economic goods
economic goodwill
economic indicators
GDP
economic life
economic profit
economic regulation
economic risk
economics
economic surplus
141
E
economic theory
economies of scale
(diseconomies of scale)
economies of scope
econonuzing behavior
Edwards-Bell-Ohlson model
EffectiveAnnuaIYield (EAY)
365
EAR=(1+ HPY)365/-1 HPY t
effective convexity
effective duration
142
E
effective interest
efficiency
efficient diversification
efficient frontier
efficient portfolio
elasticity
1%
elasticity of an option
1%
143
E
elasticity of demand
elasticity of supply
electronic trading
element 1
embedded option
embezzlement
emerging market
empirical duration
empirical probability
empirical rule
1 2 3
empirical test
E
employed
employment discrimination
employment-to-population ratio
16 16 16 16
ending inventory
ending-wealth value
end-of-the-month option
endorsement
endowment funds
145
E
enhanced derivatives products companies (EDPC) (or special purpose vehicles [SPVs])
EnterpriseValue (EV)
entity 1
entrepreneur
entrepreneurship
entry barriers
equality of variance
equation of exchange
MV=PTM V P T
1911
equilibrium
146
E
equilibrium for a business firm
equilibrium price
equimarginal rinciple
Equitzing cash
equitizing long-short
equity
equity basket
equity capital
equity charge
equity collar
147
E
equity derivative
equity forward
equity financing
equity kicker
equity-linked debt
equity method
20%-50%
equity mutual fund
equity options
equity swap
500
equity turnover
148
E
EAA
equivalent annual yield
1+
12 1
equivalent taxable rate
=
1-
error autocorrelation
error term
escalator clause
COLA
escrowed-to-maturity bonds
estimate
estimated liabilities
estimator
Euribor
Euro
Eurobonds
Eurocurrency
Eurocurrency market
Eurodollar bonds
Eurodollar CDs
Eurodollar
Eurodollar market
European Monetary System
European terms
FC/US$
(American terms quotation)
European Union (EU)
1957 (Treaty of Roam)
( EEC)
Europe Australia Far East index (EAFE index)
even lot
100 1000 5000
round lot
event
event-driven fund
event risk
event study
EV to EBITDA EV/EBITDA
ex-ante
(ex post)
ex ante alpha
excess kurtosis
excess reserves
excess return
exchange
exchangeable bond
exchange clearinghouse
152
E
against actualsex-pit
transactionversus cash transaction
exchange gain or loss
exchange-listed derivative
exchange membership
exchange of borroxing
exchange option
exchange rate
1.5 l
1.5
exchange rate risk
excise tax
exclusion principle
53
E
exclusions
ex-dividend
ex-dividend date
efficient frontiers
exercise limit
exercise value
intrinsic value
exhaustive
exhaustive events
154
E
exit
exotic option
expansion project
expectation
expectation hypothesis
expectational arbitrage
expected value
E X
E(x)=P() xi P(x,)
expected value of a variable
expenditure approach
GDP GDP
expenditure multiplier
GDP
expenditure
expenditure multiplier
1 (1-MPC)
expense
expense accounts
experience rating
experimental unit
156
E
experimentwise Type I error rate
expiration
expiration date
expiry
ex-pit transaction
explicit cost
explicit transactions
exponential smoothing
exponential weighting
r
t-l <1
exports
ex-post
157
E
(ex ante)
exposure
extendable bond
extendable swap
extended CAPM
CAPM CAPM
extension risk
extension svrap
external auditor
external debt
external disecononues
external econonues
external efficiency
158
E
external equity
external factors
externality
Extraordinary item
extraordinary repairs
extra risk
159
F
F
face amount/value
factor
1 0
factor analysis
factor model
factor portfolio
1 0
factor push analysis
factorial experiment
Factorial
4 1=4321=24
factors of production
fair dealing
fair game
fair value
fallacy of composition
Fannie Mae
Federal National
Mortgage Association
FASB statements
fat tails
7
federal funds rate
feedback theory
fiat
162
F
fiat money
fictitious trading
fidelity bond
fiduciary
fiduciary account
Fiduciary call
fiduciary duties
fill
filter rule
final dividend
final good
163
F
finance company
financial account
financial assets
financial bond
financial derivatives
financial engineering
financial futures
financial instrument
F
financial intermediary
finance leasing
financial leverage
EBIT/(EBIT -I)
financial management
financial merger
financial ratio
financial risk
financial statement
financial structure
165
F
financing activities
fire vrall
China wall
firm
2
firm-specific risk
first-differencing
Y=X-X
First- InFirst- Out (FIFO)
first-order correlation
166
F
first par call date
fiscal policy
fiscal year
fiscal-monetary mix
Fisher effect
i r+
five-number summary
1 3
fixed annuity
fixed asset
plant asset
fixed asset turnover ratio
=
Fixed-income forward
Fixed-income investments
fixed liability
fixed rate
fixed exchange rate
168
F
fixed-rate perpetual preferred stock
flight to quality
( LIBOR)
Floating Rate Note (FRN)
169
F
floating rate tranche
Floating-rate loan
( LIBOR)
floating rate bondfloating
rate tranche tranche
floating rate tranche
( LIBOR)
floor
floor agreement
(1)
(2)
floor brokers
floor price
floor trader
floored swap
floorlet
170
F
Flotation costF
flow through
flow
flow effect
flower bond
fluctuation limit
F.OBdestination
F.OBshipping point
focus
footnotes
force majeure
forced conversion
171
F
forced liquidation
forecasting
foreign bond
foreign currency
172
F
foreign exchange controls 0
Forex
( foreign exchange)
forward
forward contract
forvrard differential
173
F
forward interest rate
forward market
forward premium
forward P/E
leading P/Eprospective P/E
forward price
forward purchase
forward rate
forward sale
174
F
forward swap
foundation
fourth market
fractile
quantile
fractional-reserve banking
franchise
franchise factor
franchise value
P/E P/E = P/E
Franco Modigliani
1956
MM
175
F
fraudulent financial reporting
=+ 1
+
Free Cash Flovr to the Firm (FCFF)
=EBIT (1-)
+(EBIT)=
=++
free cash flovr to the firm model
freely floating
free market
free rider
F
freight out expense
frequency distribution
frequency polygon
frictionaJ unemployment
( structural unemployment)(cyclical
unemployment)
friendly merge
fringe benefits
front-end load
(back-end load)
front running
F-statistic F-
F- F-
full carry
F
full carry market
Full-costing
full disclosure
full employment
(structural unemployment)
(frictional unemployment) 94%-95%
dirty price
full replication
functional currency
fundamental analysis
(technical analysis)
178
F
fundamental factor models
fundamentalist
fundamentals
fund of funds
fungibility
future
future market
futures contract
futures exchange
179
F
futures fund
FutureslndustryAssociation (FIA)
futures option
futures price
FX swap
180
G
gain
G
galloping inflation
hyperinflationgalloping inflation
game theory
Gamma
ADe,
Delta Gamma=A/:
f
P
Gamma hedge
delta gamma
delta
Gamma risk
(Delta)
Garman-kohlhagen model
gap analysis
gap option
181
G
general collateral agreement
general control
general equilibrium
general journal
(special journal)
general ledger
general lien
(particular lien)
general linear model
y= Po +PiZi +P222++ppZp +8
general loan and collateral agreement
182
G
general management trust
GeneraJ obligation bond (GO)
(revenue bond)
general obligations debt
General overhead
general partners
(limited partners)
General price index -
generlc securities
183
G
Gensaki
Gensaki rate
geographical arbitrage
geometric average
n 2
Geometric Brownian motion
gifting phase
gift tax
gilt-edged securities
Ginnie Mae
Government National
Mortgage Association
184
G
give up
glamour stocks
global bond
globalization
GLOBEX
13
GNP deflator
GNP GNP
GNP gap
GNP GNP GNP
GNP
185
G
go-go fund
golng concern
going-concern assumption
going-concern value
going long
going short
gold bonds
gold certificate
golden parachute
gold fixmg
5
186
G
F(1)
(2)(3)
gold hoarding
gold standard
(1)(2)
(3)
Good This Week order(GTW)
go public
Gordon model
go short
government bills
1
1 87
G
government bonds
5
government consumption
government debt
government spending
AE G
Government Sponsored Entities (GSE)
grace period
grade
grant date
grantee
188
G
grantor
gray chips
gray market
green index
10
greenmail
Gresham's law
gross
gross investment
gross lease
gross margin/profit
189
G
GDP
=
gross profit percentage
gross sales
gross spread
7%-8%
gross yield
grouped data
Group depreciation
1
G
L composite depreciation)
Group of Seven (G7)7
7 7
Group ofThirty 30
group sale
growmg perpetuity
growth company
growth fund
growth phase
growth rate
(NNP)
growth stock
191
G
P/E
guaranteed account
guaranteed bond
guaranteed spread
192
H
H
haircut finance
85%
85%
half-hedge option
100
hammering the market
handle
910
ll09/33 11010/33
handling charge
Hang Seng index
33
hard currency
hardening
heaVy market
193
H
hedge
hedge accounting
hedge fund
hedger
hedge ratio
hedging
held- to- maturity securities
heteroskedasticity
hidden assets
H
high-grade bonds
AAA AA
high-yield bond
hinge
1 25 3 75
high-low option
histogram
historical cost
historical method
historical rate
historical simulation
195
H
historical cost
H-Model H
hold harmless
holdback
holding company
A B A B
holding cost
holding effect
196
H
holding period
homogenous expectation
homoskedasticity
horizon analysis
horizon matching
combination
matclung
horizontal merger
horizontal equity
( vertical
equity)
horizontal spread
calendar
197
H
spread
host
hostile takeover
hot collateral
special collateral
human capital
human resources
hung up
hurdle rate
hybrid asset
hybrid REITs
hybrid securities
n x
hyperinflation
198
H
hypothecated stock
hypothecation
hypothesis
hypothesis testing
100
immunization
impact lag
impairment
imperfect competitor
imperfect information
implementation shortfall
implicit costs
implicit-cost elements
200
I
implied duration
implied volatility
implied yield
Import Quota(IQ)
imports
imprest basis
imprest funds
improvement
imputed interest
in-advance svrap
201
incidence
incidencetax incidence
mcome
income account
income approach
(1)
(2)
GDP GDP
income basis
income bonds
income effect
202
income elasticity
income fund
income mobility
income policy
income property
income risk
income tax
203
I
income tax payable
inconsistent probabilities
increasing cost
increasing-cost industry
indenture
independent
independent audit
independent events
P (AI B)=P
(A) P(B l A)=P(B)
independent good
204
I
independent projects
independent samples
independent variable
index
index arbitrage
index fund
index futures
indexing
index-linked bond
205
index model
index option
indifference analysis
indifference curve
indirect method
indirect quote
FC/DC
indMdualinvestement
industrial property
206
I
industry
industry attractiveness
industry classification
industry structure
5
inertial inflation
infant industry
inferential statistics
207
inferior good
(Normal goods)
infinite period dividend discount model
Gordon model
inflation
inflationary gap
infationary premium
inflation rate
(1)
(2)(3) GDP
inflation risk
inflation tax
influential observation
information
inflation-adjusted principal
inflationaJry premium
in-ind transgers
initial margin
5%
innovation
209
I
in-option
input controJ
input growth
N/N K/K
input Jist
insider information
insider trading
installment option
installment sales
210
I
institutional investor
lnsurance
lnsurance company
insured bonds
insuring
intangible assets
intent
interbank market
intercept
intercommodity spread
intercompany transaction
inter-dealer brokers
211
I
interdelivery spread
interest
interest bond
interest cost
(PBO)
interest coverage ratio
interest differential
interest expense
interest on interest
interest rate
( LIBOR)
( LIBOR)
interest rate forward
(forwed rate agreement)
interest rate futures contract
Interest rate put
interim period
interval
intermediate goods
214
I
internal audit
internal auditor
internal control
internalizing an externality
215
International Commodities Clearing House (ICCH)
international diversification
international investing
international trade
216
interpolation formula
InterquartileRang (IQR)
3 1
Interval
interval estimate
interval scale
(nominal scale)
(ordinal scale)(ratio scale)
intervention
in-the-money
in-the-money option
intracommodity spread
intrinsic value
217
Introducing Broker (IB)
Invention
inventory
merchandise inventory
inventory cost
inventory investment
inventory profit
inventory shrinkage
inventory turnover
Inverse floater
inverted market
218
I
investability
(1)
(2)(3)
investing
investment
investment advisor
investment analysis
investment asset
investment bank
investment company
219
investment constraint
investment grade
AAA BBB
investment-grade bonds
( Moody) Baa Baa BBB BBB
investment horizon
investment objectives
investment portfolio
I
investment process
investment strategy
investment value
investor-s life cycle
invisible supply
involuntary bankruptcy
inward transportation
irregular component
IRR rule
island reversal
issuance test
issued shares
issued stock
( outstanding stock)
(treasury stock)
issue prlce
issuer
itemized deduction
January effect -
j-curve effect J
J J
Jensen measure
jobber
job lot
(1923)(1930)
( 1936)
Johnson-Shad Agreement
CFIE SEC 1982
joint account
joint bond
223
J
joint float
joint probability
X=Y= X= y=
journal
journal entry
journalizing
judgement sampling
junior bond
junior mortgage
junior refunding
J
5 1 5 1
junk bonds
( Moody) Baa Baa BBB BBB
junior securities
justified P/E
K
K
kappa
10
kerb dealing
key industry
keying of entries
Keynesian economlcs
Keynesian effect
Keynesian equilibrium
kickback
kicker
226
K
knocked down
knock-in option
knock-out option
Kruskal-Wallis text
L
labor force
16 16
labor force participation rate
16 16
labor market
labor supply
labor union
Laffer curve
A.B. Laffer
O O 100%
OC
B D Laffer
O
C
lag
lagging ind]icators
228
L
laissez-faire capitalism
Lambda
lapsed option
Laspeyres index
last sale
latent defect
later-stage investment
law of demand
law of supply
leading indicators
leading P/E
forward P/Eprospective P/E
lead manager
LEAPS
lease
leasehold
leasehold improvements
lease-purchase agreement
least-cost rule
ledger
left-hand financing
legal asset
legal capital
legal list
legal risk
231
L
legal tender
lender
lending securities
leptokurtic
(mesokurtic)(platykurtic)
Less Developed Countrys (LDCs)
lessee
lessor
letter bond
letter of credit
Jetter of guarantee
Jetter of indemnification
level of significance
0
leverage
leveraged
Leveraged Buy Out (LBO)
leveraged company
leveraged lease
leveraged recapitalization
(1)
233
L
(2)(3)
leverage ratio
liabilities
liability method
liberalism
libertarianism
licensing
Iien
life annuity
life income
L
( general partners)
Jimited partnership
( General Partnership)
Jimit move
limit order
Jimit price
limit up
linear association
Linear interpolation
linear regression
=a bX X
Y
linear trend
Y= Bo+B+et=l23T Y
t Bo Y Be
236
L
Iife of contract
lift a leg
life cycles
LIFO liquidation
LIFO reserve
likelihood
limit
limit down
limited discretion
Iimited liability
(unlimited liability)
limited liability company
limited partner
235
L
t
line of credit
liquid
liquid asset
liquid liability
liquidated damage
Iiquidating market
liquidation-only trading
liquidating value
liquidation
Iiquidation value
liquidity discount
liquidity theory
237
L
liquid market
liquidity
liquidity premium
liquidity ratio
liquidity risk
listed option
listed securities
Listed stock
listing
load fund
loanable fund
238
L
loan amortization
loan commitment
loan crowd
loaned flat
loan-to-value ratio
local
local bill
locked-in
locked market
lockup
239
L
In
(Y t)= Ba +B1t +ett=1,2,3,,T
Log-Iog regression modeJ
lognormal distribution
logrolling
1919
1 3 6 LIBOR
240
L
long bond
10
long call
long futures
long hedge
buying hedge
long- Iived asset
long position
long put
241
L
long-short investing
(1)
(2)(3) Beta
long squeeze
long stock
long-term asset
Long-termhigh-priority goal
long-term liability/debt
10
long-term solvency
long run
( short
run)
look-ahead bias
lookback option
242
L
lookback call option
lookforward option
Lorenz curve
loss
lot
Lower bound
Lower of Cost or Market (LCM)
lower-priority goal
low-load fund
3%4%
Low Of Cost Or Market (LOCOM)
Low-regula r-dividend-plus-extras
lump sum
luxury goods
243
L
1
(necessity)(inferior goods)
M
M
Macaulay duration
macroecononuc factor
macroecononucs
macro funds
maintenance margin
managed float
Managed futures
management accounting
M
Management and advisory firm
management effect
management fee
management report
mandated benefit
Mann-Whitney-Wilcoxon test
manufacturing company
margm
246
M
margin account
marginal
i
marginal benefit
Marginal Cost
marginal principle
marginal probability
(unconditional probability)
marginal product
MarginaIRevenue (MR)
margin buying
margin call
margin deposit
M
margm error
margin transaction
market
marketability
marketability discount
marketable securities
market-based forecast
market-book ratio
market correction
market economy
249
M
market efficiency
market equilibrium
market failure
market impact
market index
market maker
market model
i Rt=Q+BR+eiQi= i
B t= i R==
M
market on close order
30 60
market-on-openlng
marketor Betarisk
market order
market organization
market portfolio
market power
market price
market value
market price of risk
market rate
market risk
price risk
251
M
market risk neutralization
market securities
market segmentation
market sentiment
market share
market structure
market timer
market timing
market value
252
M
Market Value Added (MVA)
market-value clause
market-value-weighted series
Markowitz
1952
markup pricing
martingale
matador bonds
253
M
matched sample
matching principle
matching
materiality convention
mature phase
mature stage
maturity date
maturity risk
30
Maturity risk premium (MRP)
maturity strategy
10 10
254
M
maturity value
mean
MAD=lx,-xlz
mean differences
mean reversion
mean square
F
Means-tested income transfers
mean-variance analysis
(1)
(2)
(3)(4)
mean-variance criterion
255
M
measurement error
measurement scales
mechanic-s lien
median
medium-term bond
2 10
medium-term loan
2 3
Medium-Term Note (MTN)
9 10
member rate
membership on an exchange
256
M
merchandise inventory
inventorr
merchandising company
Merge andAcquisition (M&A) approach
Merge(Acquisition)
merger
Merton Miller
M&M
M&M
Merton model
Black-Scholes
mesokurtic
(leptokurtic)platykurtic
method based on forecasted fundamentals
method of comparables
method of comparables
Michael Porter
microeconomics
middleman
middle office
Milton Friedman
1976
(1959)<(1962)(1969)
mimicking portfolio
mlmmum prlce
258
M
minimum-variance frontier
rmnlmum wage
min-max option
minority discount
minority interests
minority shareholder
50%
mirrored fund
( onshore fund)(offshore
fund)
mismatch risk
mlsprlclng
M
srepresentation
mixed economy
modal interval
mode
model
model risk
modified convexity
modified duration
1
1+
Modified IRR (MIRR)
260
M
Molodovsky effect Molodovsky
momentary run
momentum indicators
(EBITDA)
monetarism
Ml(money supply) (Ml)
Ml (1)(2)
(3)
M2(money supply)(M2)
M2 Ml (1)(2) 10
(3)
monetarists
monetary assets
monetary base
monetary liabilities
monetary method
261
M
monetary neutrality
monetary policy
monetary tools
money
money fund
money market
1
money market fund
120
M2
money market mutual fund
262
M
IOU
money market yield (or CD equivalent yield)
360 360
r-HPY(360/t)
money purchase pension plan
money supply
MlM2M3
money-supply effect
money-supply multiplier
monopoly
monopolistic competition
monopoly
(1)
(2)
monopsony
263
M
moral hazard problem
mortality tables
mortgage
mortgage bonds
mortgagee
mortgage loan
mortgage payable
mortgage rate
contract rate
264
M
mortgage REITs
mosaic theory
moving average
200
M2
Ml
multi-asset option
multicollinearity
(1)
(2)
P/E
(3)
GDP
(1)(2)
(3)
multinomial population
MultipleIRRs (M )
multiple R
Y Y
multiple regression
multiplication rule
k ni
nl*n2* n3* n4*nk
multiplication rule for probabilities
A B B A B
P (AB) -P (AIB)P(B)
multiplicative times series model
I=CiSi x/i
I=Si x/
multiplier
multiplier effect
multiplier model
multivariate distribution
multivariate normal
267
M
municipal bondMuni
municipaJ bond interest
municipaJ securities
municipal strip
mutual fund
mutually exclusive
268
N
N
naked option
naked call
naked position
Nash equilibrium
national debt
national income
( NNP)
national-income and -product accounting
national saving
269
N
natural monopoly
natural resources
3 6
nearby contract
near money
near-the-money
necessity
1(luxury
goods)(inferior goods)
negative amortization
negative carry
270
N
negative cash flow
negative covenant
(positive covenant)
negative convexity
negative goodwill
negative interest
negative leverage
negatively skewed
>>(positively skewed)
positively skewed
>>(negatively skewed)
negative pledge clause
neglected-firm effect
271
N
negotiable certificate of deposit
negotiable security
negotiated sales
negotiating bank
neoclassical growth theory
net asset
owner's equity
Net Asset Value
net income
net interest
net Jease
net loss
( GNP)
Net Operating Income (NOI)
273
N
net position
net proceed
net profit
=
Net Realizable Value (NRV)
net sales
netting
274
N
netting by novation
net worth
neutrality
new issue
n factoriaJ N
1 NN!=N(N-1)(N-2)21 0!-1
no-arbitrage assumption
no-arbitrage bounds
no-arbitrage principle
node
no-growth company
275
N
no-growth value per share
no-load fund
nominal account
nominal distribution
x (x)=1 1e p22 2 X
((J ) X NN(p)(
nominal Gross Domestic Product (GDP)
nominal price
nominal rate
nominal scale
(ordinal
(Interval scale)(ratio scale)
nominal spread
( YTM)
276
N
nominal values
nominal variables
nominal yield
nonactivist strategy
nonagency securities
Fannie Mae
( Freddie Mac)(Ginnie Mae)
non-amortizing asset
noncallable bond
(callable bond)
noncash item
1
non competitive bid
nonconforming mortgage
nondollar-denominated issue
N
nonhuman resources
non-investment-grade bonds
high yield
bond
nonlinear relation
nonmonetary method
nonoperating income
nonparametric methods
( parametric
test)
nonparametric test
(parametric test)
non-pay-related plans
nonprobabilistic sampling
nonprofit organization
nonrecourse loan
N
nonrefundable
nonsampling error
nonsystematic risk
non-US-pay bond
normal profit
=1+
1+-1
nominal spread
non-activist view
noncompetitive bid
279
N
noncumulative preferred stock
nonpublic information
no-par stock
normal backwardation
normaJ contango
normal distribution
95% 2
normal good
(inferior goods)
normal market
normal portfolio
280
N
normal volatility
normal yield curve
normative economics
note receivable
notes
1 10
notes payable
notes receivable
notice day
notice of claim
notice of suit
notional amount
notional principal
not statistically significant
np Chartnp
NPV rule
nuIJ hypothesis
( alternative hypothesis)
number of days sales in receivable
365 365
282
O
O
objective probabilities
obligation
objectives
odd lot
100
1 99
off-balance sheet asset
offer
offering
offer price
ask price
off-market FRA
283
O
official reserves
off-market swap
offsetting
offsetting order
offshore fund
off-the-run issues
Okuns law
GNP
oligopolists
oligopoly
284
O
oligopsony
omnibus account
one-factor model
on-market FRA
onshore fund
on-the-run issues
on-the-run treasury
open account
open contract
open economy
285
O
open-end fund
NAV
open-end interest
open market
open outcry
open-end mortgage
opening price
operating asset
operating budget
(capital budget)
operating cash flows
operating capital
286
O
operating characteristic curve
operating cost
operating cycle
operating expense
operating exposure
operating income
operating lease
operating losses
operating leverage
operating management
operating merger
287
O
operating profitability ratios
operating reserve
operating statement
income statement
statement ofincome
operation income
opportunity cost
( sunk cost)
opportunity set
optimal portfolio
288
O
optimizer
optimum capacity
option
option buyer
option contract
option cost
option-free bond
option on futures
289
O
option on the physical
option orders
option series
option writer
options market
order-driven system
ordinal
290
O
ordinal scale
(nominal scale)(interval scale)(ratio scale)
orinal utility
A B A
ordinary annuity
ordinary business
original margin
1020%
Other Checkable Depoists (OCD)
Ml
other comprehensive income
other revenues
outcome
outliers
out-of-sample test
out-of-the-money
out-of-the-money option
out-option
outperformance option
output control
outright position
outstanding shares
292
O
outstanding stock
out trade
overage
overbought
( oversold)
overfunded plan
overhead
overnight
overnight money
overnight repo/RP
overpriced
oversold
(overbought)
overweighted
293
O
Over-The-Counter (OTC)
overvalued
overweighted
owner's equity
294
P
P
Paasche index
paid- in capital
paid-up capital
paid-in surplus
paid-up capital
paid- in capital
paired comparisons test
paired observations
paper loss
paper profit
paradox of value
parallel loan
295
P
parallel shift
parameter
parametric test
t
(nonparametric)
par bond
parent corporation
50%
Paris arbitrage
partial-equilibrium analysis
participating bond
participating option
296
P
participating preference share
participation
participation certificate
particular lien
( general lien)
partitioning
partnership
partnership agreement
par value
par-value stock
passive management
passive management
patent
path dependence
path independence
payables
payback
PaybackPeriod (PBP)
payee
payer swaption
298
P
pay-fixed
pay-later ooption
payment date
payment-in-kind
payment netting
pay-related plans
payoff
payoff table/matrix
payout ratio
P chart P
peak
299
P
P/E effect
pegged
pegged price
peggmg
pension
pension fund
pension plan
P/E ratio
percentage-of-completion method
(completed contract
method)
percentiles
100
perfect collinearity
perfect hedge
perfect market
performance
performance bond
performance evaluation
performance fee
performance measurement
performance shares
perks
period cost
periodicity
permanent account
temporary account
permanent difference 7J<,
(temporary difference)
permanent income hypothesis
Permutation |J
n r(r<=n)
( combination)
permutation formula 2 -2
n k k - r)!
perpetual bond
302
P
perpetuity
Persistent earnings
personal consumption
personal income
personal property
303
P
(real property)
personal savings rate
personal trust
Phillips curve
A *W
physical capital
physical count
Pigovian tax
pin risk
Pip
1 1%
pit
plagiarism
P
Plain-vanilla
plant asset
fixed asset
Plantproperty and equipment (PP&E)
platykurtic
(mesokurtic)
(platykurtic)
plow back
point
305
P
point estimate
(interval estimate)
point-and-figure chart
OX chart
poison-pill strategies
policy effect
policy-ineffectiveness theorem
policy statement
political risk
pooled
pooled variance
pooling-of-interest method
306
P
population
sample
population mean
pork-barrel legislation
Porter's 5 factors
portfolio
portfolio immunization
portfolio insurance
portfolio management
portfolio theory
307
P
position
position day
position limit
2000
position trader
positive carry
positive convexity
positive covenant
(negative covenent)
positive economics
positive leverage
308
P
positively skewed
>>(negatively skewed)
post-audit
posted price
posterior probability
(pniori probability)
posting
power of a test p
l-a
P
power of sale
precision
predicted P/E
12
= 12
predicted values
X Y
preemptive right
preferred stock
Premium
premium bond
premium on bond
310
premium
prepaid expense
prepaid income
prepayment
prepayment option
prepayment rate
prepayment risk
prepayment speed
prerefunded bonds
prerefunded municipal bondS.
prerefunded municipal bonds
311
P
prerefunded bonds
Present (price) value of a basis point (PVBP)
(future value)
present value interest factor
N 0 1(1+Y)N I/Y
N
present value model
preservation of confidentiality
pretax income
income before income tax
(taxable income)
pretax operating rate of return on total asset
price ceiling
312
P
price compression
price continuity
price controls
price discovery
price discrimination
priced risk
price-driven market
price flexibility
price floor
price index
price-inelastic demand
1
price limits
price momentum
price multiple
price relative
100
price risk
PriceSales (P/S)
314
P
1 2
price-sales ratio
price searchers
price takers
price-weighted index
pricing practice
primary distribution
primary market
principal-agent problem
principal strip
priority of transactions
AIMR~ AIMR~
AIMR~
AIMR~
316
P
prior probabilities
(posterior probability)
prior-period adjustments
prisoner's dilemma
private accounting
private good
private investment
50
private placement
private saving
privately owned
317
P
probability
A P (A)
probability density function
probability distribution
probability function
P(X=x)2 p(x)
probit model
0-1
processlng controls
producer's risk
producer surplus
product costs
product differentiation
318
P
production function
productivity growth
productivity
professional corporation
professional sconduct
profit
profit margin
profit maximization
profitability
profitability evaluation
39
P
pro forma statement
program trading
progressive tax
promissory note
prompt date
320
P
property
property dividend
property rights
Proportional tax
proprietorship
prospective P/E
prospectus
protectionism
P
protective covenant
protective put
proxy
pseudo-random numbers
public accounting
public bond
public-choice analysis
322
P
public goods
public offering
publicly owned
pull-to- par
purcbase allowance
purchase discount
purchase fund
(Absolute PPP)
(Relative PPP)
purchasing power risk
P
purchase method
purchase returns
purchases account
purchases journal
purchasing power
pure competition
put bond
put-call-forward parity
put-call parity -
put date
put option
put price
put provision
put rights
put swaption
p-Value p-
p
a
pyranuding
Q
q ratio q
q 1
quadratic optimization
qualified opinion
qualitative analysis
qualitative data
qualitative factors
qualitative variable
quality of earnings
quality option
quality stock
quantitative analysis
quantitative data
quantitative factors
quantitative variable
quantity demanded
GDP
quantity index
327
Q
quantity risk
quantity supplied
quanto
quanto option
quartiles
25 50 75 1 2 3 4
25%
quasi-arbitrage
quick ratio
quota
328
Q
quotation
quoted margin
329
R
R
range notes
R chart
rag stock
random number
random walk
range
330
R
range floater
range forward
raider
rapid amortization
rate-differential swap
diff swap
rate duration
rate of return
rate of unemployment
=+
R
100%
rating agency
rating evaluation
ratio
ratio analysis
ratio scale
( nominal scale)
rationing
ratio scales
332
R
ratio spread
R&D in-progress
reacquired stock
reaction
real accounts
real assets
real capital
real balance effect
real capital
real assets
real earnings
real income
real estate
R
Real Estate Investment Trusts( REITs)
(RD)
real estate tax
realization account
realized return
realized yield
real options
real price
real value
real property
(personal property)
real rate
335
R
real return
=[1+1+]-1
real values
real value
real price
real variables
real wages
rebalancing
rebate
recapitalization
receivables
receivables turnover
336
R
receive-fixed
recelver
receiver swaption
receiver's sWaption
recession
GNP
reciprocal business
recogniition lag
reconstitution
record date 0
337
R
recourse
recovery
recovery rate
redeem
redeemable stock
redemption notice
receiver svraption
redemption price
5% 10%
redemption yield
redemption value
rediscount
338
R
reference bills
(Freddie Mac)
1 1
reference notes
(Freddie Mac)
2 10
reference rate
referral fees
refinancing = -
refunding
refunding issue
Regime
regional bank
regional fund
refunding mortgage
339
R
registered as to principal only
registered bond
registered check
registered form
registered instrument
registered bond
registered option trader
registered security
registered traders
registration statement
regression analysis
340
R
regression coefficients
y=a+bx
a b
regression equation
regressive tax
regular dividends
regulation A A
( small issuer)
regulation B B
regulation C C
regulation D D
regulation E E
regulation F F
341
R
regulation G G
regulation Q Q
regulation T T
regulation T call T
regulation U U
regulation W W
regulation X X
regulation Z Z
regulatory risk
reinvestment income
reinvestment rate
reinvestment risk
relationship trading
relative dispersion
relative efficiency
relative frequency
70 30
relative value
relative yield spread
relevance
relevant cost
1
reliability
( FASB)
reliability factor
remainder beneficial
remainder men
remargining
Rembrandt bonds
344
R
remeasurement
rent seeking
reorganIZation
reorganization bond
repeat-purchase item
replacement analysis
replacement cost
(historical cost)
replacement cost accounting
1
replacement rate
replacement value
( replacement cost)
repo
repurchase
agreement
reportable position
reportable segment
10%
repo rate
reporting currency
report form
( account form)
reproduction cost
repurchase price
required reserve
required return
required yield
required rate of return
requisitionist
rescind
reserves
reserve accounting
reserve bank
reserve fund
reserve ratio
347
R
reserve requirement
reset date
reset notes
reset option
residual analysis
residual autocorrelations
residual claim
residual claimants
348
R
residual interest
residual effect
residual plot
residual security
residual tranche
residual value
salvage valueterminal value
resistance
resistance level
resource
resource allocation
resource market
resource mobility
resource prices
349
R
responsibilities of supervisors
resting order
restructuring charges
1
retailer
350
R
Retained Earnings/income/profits (RE)
retractable
retractalbe bond
return
return of capital
return on
invested capital (ROIC)
return on invested capital(ROIC)
351
R
return on net worth
returns to scale
revaluation equity
revaluation
revenue bond
352
R
revenue recognition
revenues
revenue share
reverse a swap
reverse conversion
reversing entries
reverse repo
353
R
reverse repo
reversing trade
reversion level
Rho Rho
1%
4.10%
4.00%
rigged market
riggmg
right
right of redemption
354
R
right of rescission
3
rights issue
right-to-work laws
ring
rmglng up
rising bottoms
rising trend channel
risk
risk allocation
risk analysis
355
R
risk arbitrage
risk aversion
risk budgeting
risk capital
risk-free asset
risk-free rate
risk governance
risk management
risk-minimizing hedge
risk-neutral probabilities
risk-neutral valuation
risk-neutral world
risk lover
(risk averter)
356
R
risk of inflation
RiskPremium (RP)
risk premium hypothsis
risk rating
risk-retrun trade-off
risk reward
risk spreading
risky asset
rivalness
robust
357
R
roller coaster
rollover
12 6
round lot
100 1000 5000
even lot
rolling strip hedge
rolling up
rollover mortgage
2 3
Roll's critique
( CAPM)
CAPM Roll CAPM
roll-up fund
358
R
round turn
Op RE[Rp] P
runs test
rule of 20 20 IJ
20
rule of 70 70
x 70/x
rule of 72 72
72
rule of 78 78
12 11
1 12 78 78
359
R
runaway inflation
run on a bank
runs test
360
S
sacrifice ratio
1%
saddled
safety-first rules
safe harbor
sale of receivables
sales allowance
sales discount
sales journal
sales return
sales revenue
sales tax
361
S
sales-type lease
Sallie Mae
Student Loan Marketing Association (SLMA)
salvage value
residual valueterminal value
Samaritan's dilemma
same-day substitution
sample space
sample
( population)
sample kurtosis
sample mean
sample point
362
S
sample selection bias
sample size
sample skewness
sample variance
1
sampling
sampling distribution
sampling error
sampling plan
sampling unit
363
S
samurai bond
sandwich lease
Sandwich spread
saving
saving function
savings account
savings deposit
Say's Law
scale
scalper
scalping
364
S
scarcity
scatter diagram
scatter plot
scatter plot
scatter diagram
scenario analysis
(sensitivity analysis)
scenario writing
scientific thinlang
scrap value
scratch trade
seagull
seasonal component
365
S
seasonlity
seasonal swap
seasoned issue
seasoned security
90
seats
secondary distribution
secondary effects
secondary market
second-pass regression
366
sector rotation strategy
sector
Sector/qualitye ect
secured debt
securities
securitization
securitized
367
security analysis
security market
seed money
seed investment
seed stage
segment disclosure
segregated securities
self-correcting mechanisms
368
self-dealing
seller's market
sell-side analyst
selling away
selling concession
selling flat
selling group
selling hedge
short hedge
selling short
sell out
369
S
semiannual compounding
semi-logarithmic chart
semi-logarithmic scales
(XY)(XInY)
( weak-form)(strong-form)
semi-variable cost
2% 1000 2%
semlvarlance
senior bond
senior mortgage
senior securities
sensitivity analysis
( scenario
analysis)
Separately Traded Registered Interest and Principal Security (STRIPS)
370
S
separation theorem
serial bonds
serially correlated
t
serial obligation bond
series of options
series bond
service fee
settlement
settlement options
settlement period
settlement price
settlement risk
371
S
settling
severance pay
shadow price
share
share broker
shareholder
stockholder
shareholders' equity
shark repellent
Sharpe ratio/measure
'_
p 0 p
shelf registration
2
shell company
372
S
shirlang
shogun bond
short
short position
shortage
short bond
short coupon
6
short covering
shortfall risk
short futures
short hedge
selling hedge
short interest
short position
short
short run
(long run)
Short-Run Average Cost curve (SRAC/SAC)
U
short sale
short selling
short sale rule
short selling
short sale
shortsighteddness effect
(1)
(2)
short-termlncome trust
short-term loan
short-term security
shout option
shutdown
side-by-side trading
Sigma
signal
signaling theory
significant influence
20% 50%
(equity method
accounting)
375
S
significance level
sight draft
sign test
silver standard
simple arbitrage
simple entry
compound entry
simple interest
simple random sample
( stratified
sampling)(systematic sampling)
simple random sampling
simple return
simulation
376
S
simulation trial
single liability
single option
single-payment loan
(multiple
step income statement)
single-country fund
single-index model
single-tax movement
19
377
sinlang fund
sinlang fund bond
size effect
skewed
skewness
skip-day settlement
slope
slope coefficient
slope
small cap
378
S
small-firm effect
smart money
smoothing constant
socialism
(1)
(2)
social responsibility
soft currency
soft arbitrage
soft dollars
soft money
soft market
379
S
sole proprietorship
solvency
source document
source of fund
sovereign bonds
sovereign debt
sovereign risk
special collateral
hot collateral
380
S
Special Drawing Right (SDR)
special-interest issue
specialist
special item
special journals
(general journal)
Special Purpose Corporation (SPC)
(AAA AA )
SPE
381
S
specialty fund
speculation
speculative company
speculative stock
speculative-grade bond
(Moody) Baa BBB
speculator
spike
382
S
spending phase
Spin-off
split-off
split-up
spot
spot commodity
spot market
cash market
spot price
spot rate
spot exchange rate
S
spot yield curve
spread
spreader
spread risk
spreadsheet modeling
spread arbitrage
spreading
spreading
spread arbitrage
spread Joan
4
spread position
spread products
spread sector
spread trade
S
spread transaction
spurious correlation
squeeze
stack hedge
stagflation
standard cost
standard deviation
standard error
(n)
standard&Poor's rating
AAAAAA BBB
A+ C
D
standardized beta beta
standardized residual
standardizing
standby commitment
stated value
statement of income
386
S
statement of retained income
statement of stockholders'equity
statistic
statistical inference
Statistically significant
statistics
stem-and-leaf display
step-up note
387
step-up swap
stickjump bonds
stockbroker
stock certificate
stock consolidation
(stcok split)
stock dividend
( cash dividends)
stockholder
shareholder
stockholder's equity
stock index
388
S
stock index option
stock index
stock options
stock power
stock repurchase
stock selection
stock split
(stcok consolidation)
389
S
Stop order
stop-out price
stop payment
stop yield
Storage
Store of value
straddle
0
straight bond
(callable bond)
straight line depreciation
1
straight-line amortization
S
straight-line interest
strangle
Strap
strap option
street broker
street name
391
S
street price
stress price
exerclse pnce
stress testing
strike
(1)(2)
strike price
exercise
Price
strip
Strip hedge
strip option
stripped bond
stripped of coupon
stripped treasuries
(weak-form)(senu-strong-form)
stuck in the middle
( FFELP)
Student Loan Marketing Association (SLMA)
Student t
t Student t t
structural change
structural unemployment
( frictional
unemployment)(cyclical unemployment)
structured note
style analysis
style grid
393
S
subject market
subjective price
subjective method
submortgage
subjective probability
subordinated interest
subordinated debenture
subordination clause
subordinated debt
394
S
subrogation
subscriber
subscription price
subscription privilege
subscription
subsidiary company
51%
subsidy
substitutes
(complements)
substitution effect
substitution swap
395
S
sunk cost
super dot
supermajority votes
supernormal growth
supershares
supply curve
supply of money
supply shock
supply-side economics
support level
support tranches
PAC-
396
S
supranational
surplus
( shortage)
survivorship bias
sushi bond
ROE
swap
swap arbitrage
swap bank
swap book
swap broker
397
S
swap dealer
swap facilitator
swap-linked notes
swap rate
swap spread
swaption
switching
Switching option
switch order
symmetallism
398
S
Synthetic index fund
synthetic instrument
synthetic option
Synthetic put
synthetic short
systematic Beta risk B
systematic factors
systematic risk
(unsystematic risk)
systematic sampling
n
(simple random sampling)(stratified sampling)
T
T
TAC interest-only Bond TAC
TAC
TAC
TAC principal-only bond TAC
TAC
TAC
Taccount T
T-
tail hedge
take back
take down
take-or-pay contract
throughput arrangement
takeout
}
401
T
takeover
taker
tandem option
tangible asset
(intangible
assets)
tangible book value
P/B
tangible value
tap
1
tap CDs
tap system
target duration
target population
target price
target semideviation
target semivariance
tariff
tariff quota
taxable income
403
taxable-equivalent yield
1-
tax allocation
tax deferral
tax anticipation notes
tax-backed debt
tax base
tax cost
tax credits
tax deduction
tax deferral
tax
allocation
tax deferred annuity
taxes payable
tax evasion
T
tax incidence
tax exemption
tax-exempt securities
tax rate
tax return
tax revenue
tax risk
tax swap
t-Distribution t
(o1)Y~)(2(n) t=x~
t (n)
team production
405
technical analysis
fundamental analysis
technical correction
technical rally
technical divergence
technical indicators
technological advancement
technological change
technology
TED spread
temporal method
temporary account l
(permanent account)
temporary difference
T
(permanent difference)
temporary supernormal growth
tenancy at wilJ
tender
ten-forty 10-40
40 10
tender offer
tenor
term
term bond
term certificate
terminal market
terminal value
residual value
salvage value
termination date
term insurance
term issue
term loan
term mortgage
term premium
term repo/RP
term repurchase
agreement
term repurchase agreement
term repo/RP
terms of trade
term structure
term to maturity
testamentary trust
test statistic
thin market
third market
T
third-party account
third-party check
third-party guarantee
threat ofsubstitutes
three-point arbitrage
throughput arrangement
tick
1% 1/32
tight market
tight-money policy
410
time arbitrage
time bargain
time deposit
timing difference
(permanent
difference)
time draft
time index
0
time line
time-period bias
time premium
time-series analysis
41
T
time-series data
timing option
time order
time premium
time series
time series data
time to expiration
412
T
time-weighted rate of return
dollar-weighted return
time-weighted return
1
timing option
to-arrive contract
Tobin's Q Q
token money
Top-down
(bottom-up approach)
top-down forecasting approach
topping out
touch option
total asset turnover
413
T
total cost
=
total dollar return
total return
total revenue
Totten trust
414
T
tournament pay
tracking error
tracking portfolio
S&P500
tracking risk
trade balance
trade barrier
(1)(2)
trade deficit
traded flat
trade discount
trademark
trade-off theory
415
T
trade option
trade restriction
trade policy
trader
trade surplus
trading at discount
trading at a prenuum
trading down
trading effect
trading halt
trading instructions
trading range
416
T
trading rule
trading securities
trading turnover
trading up
transaction
transaction accounts
transactional demand
(precautionary demand)
transaction Cost (TC)
417
T
transaction exposure
transferable bond
transfer payment
transfer price
transferee
transfer tax
translation
translation exposure
accounting exposure
translation risk
418
T
Q
treasury bill(T-Bill)
1
( treasury bond)(treasury note)
Treasurylnflation Protection Securities (TIPS)
treasury securities
treasury stock
treasury strips
tree diagram
trend
Treynor's measure
trial balance 1
triangular arbitrage
T
triangular currency arbitrage
triple-witching hour
500 100
triple bottom
triple top
trough
( peak)
trust
(1)
(2)
(3)
trust company
trustee
trust fund
421
T
trustor
trust indenture
t-statistic t-
t t
t-Test t
t
turkey
turnover
turtle trade
twists
two-point arbitrage
twenty-day period 20
twofer
two-period model
two-way rate
typeI error
Q
(type II error)
type II error
(type I error)
12B-1 mutual Fund 12B-1
1% 1%
12b-l fee 12b-l
12b-l
U
U
ultimate beneficiary
Unanticipated change
unanticipated inflation
( efficiency)(consistency)
unbiased predictor
unbundle
uncalled capital
uncollected funds
424
U
uncollectible account
unconditional heteroskedasticity
uncovered
uncovered call
naked call
uncovered writer
underbooked
undercapitalized
underfunded plan
underground economy
underlying
Underlying asset
U
underlying commodity
underlying mortgage
underlying variable
underlying
Underpriced
Undervalued
Underweighted
underwriter
underwriting
underwriting agreement
underwriting fee
underwriting syndicate
426
U
undistributed profit
unearned income
unearned revenue
unearned interest
unemployment
unemployment gap
GDP GDP GDP (GDP gap)
unemployment rate
16 65
uneven cash flow series
unilateral transfer
427
U
union
unitary elastic
1
unitary hedge ratio
1
unit depreciation
1
Unit elastic demand
1
unit s-of-production
1
unit root
Yt - PY l+f=12p=l{ut
E(f)=0cov(f )2< s=012
univariate distribution
unleveraged program
50%
428
U
unlimited liability
(limited liability)
unlisted option
unlisted stock
unloading 0
unpaid dividend
unrealized appreciation
unregistered instrument
Unsecrued bonds
debentures
unsecured debt
429
U
unsubordinated debenture
unsystematic risk
unweighted index
unwind
unwind a trade
up-and-in option
up-and-out option
upgrade
upset price
upside
uptick
uptick-downtick raho
0.4 1
uptick rule
up transition probability
use of funds
User charges
431
U
US-pay bond
USTreasury obligation
usury
utilitarianism
1ltility
432
V
N
valuation
valuation analysis
valuation allowance
valuation model
valuation process
valuation reserve
value
value added
value date
value fund
value risk
value stocks
P/E
value-weighted index
variable
variable annuities
variable cost
434
V
variable-rate securities
variable
variance
n
variation mar n
(margin call)
(variation margin)
Vega
Vega= V /Acjp
Vega hedge
delta gamma
435
V
Vega-neutral portfolio
velocity of money
vendor
vendor's lien
Venn diagram
venture capital
venture capitalist
verfiability
verification
GIPS
versus cash transaction
against actuals
Exchange-For-Physicals (EFP)ex-pit transaction
vertical equity
(horizontal equity)
436
V
vertical integration
vertical spread
V formation V
visible supply
30
volce
voidable contract
volatility
volatility risk
437
V
Volatility smile/skew
volume
volume discount
volume of trade
voluntary bankruptcy
voluntary liquidation
voluntary unemployment
voting right
voting stock
vulture fund
438
W
wage rate
walve
W
warehouse receipt (wr.)
warrant
warrant value
warranty
warranty liability
wash sale
wasting asset
watered stock
439
W
weak-form efficiency market hypothesis
( semi-strong-form)
( strong-form)
wealth
weekend effect
weighted average
1
weighted mean
Weighted-average Cost ofCapital (WACC)
WACC=Ka=1-+
+
Weighted Average Coupon (WAC)
weighted mean
1
weighted average
welfare economics
welfare state
19
well-diversified portfolio
white knight
wholesaler
wide open
wide opening
widow-and-orphan stock
Wiam FSharpe
1964
willingness to pay
winding up
window dressing
winner-take-all game
withdrawal
withholding
withholding tax
without recourse
worked off
worlang asset
worlang capitaJ
working capital
current
capital
working capital ratio
current ratio
working capital turnover
work in process
world bank
(IBRD)
(IFC)
world investable wealth
worst-case scenario
write
write-down
written-down value
write-off
writer
Writer of an option
write up
z Chart z
Yankee bonds
yield
yield curve
4 (1)(2)
(3)
(4)
yield curve risk
yield ratio
yield spread
yield to call
YTM
yield to put
yield to worst
Z bond
accrual bond
zero-base budgeting
zero basis
zero-beta portfolio
zero-cost coHar
zero-cost option
zero-coupon bond
J}|
zero-plus tick
zero-profit-point
zero-rate mortgage
zero-sum game
Zeta
1600 7
Z statistic