Datasets:
sohomghosh
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FinRAD_Financial_Readability_Assessment_Dataset

Dataset card Data Studio Files Community
1
terms
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156
definitions
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15 values
assigned_readability
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flesch_reading_ease
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flesch_kincaid_grade
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-3.5
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smog_index
float64
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26.5
coleman_liau_index
float64
-33.81
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automated_readability_index
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65
dale_chall_readability_score
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linsear_write_formula
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gunning_fog
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INFLATION ACCOUNTING
An ACCOUNTING approach that incorporates the fact that the value of MONEY changes over time as a result of INFLATION, which impacts the value of ASSETS and LIABILITIES carried on the BALANCE SHEET. Inflation accounting attempts to overcome deficiencies imposed by the simpler HISTORICAL COST ACCOUNTING approach by price-adjusting historical costs relative to a particular INDEX. Also known as PRICE LEVEL ACCOUNTING.
palgrave
0
33.54
13.7
15.5
15.55
15.9
10.27
15
14.09
INFLATION FUTURE
A FUTURES contract traded on an EXCHANGE that is based on a recognized INFLATION INDEX, such as CONSUMER PRICE INDEX or RETAIL PRICE INDEX.
palgrave
0
55.58
11.5
0
10.57
13.3
10.75
14
12.93
INFLATION HAWK
In the financial markets, one who has a negative view of INFLATION and its effects on the economy and generally prefers a tight MONETARY POLICY with stable to slightly increasing INTEREST RATES.
palgrave
0
30.54
17
0
12.49
18.5
12.13
25
24.05
INFLATION OPTION
An OVER-THE-COUNTER OPTION that references an INFLATION index such as the CONSUMER PRICE INDEX or RETAIL PRICE INDEX, or which is traded as a CAP or FLOOR on the individual COUPONS ofANNUAL INFLATION SWAPS.
palgrave
0
36.97
16.6
0
12.14
19.5
10.43
23
18.31
INFLATION RISK
The risk of loss of value or RETURN on an ASSET due to INFLATION, which reduces purchasing power over the life of the ASSET. Also known as PURCHASING POWER RISK.
palgrave
0
64.71
8
0
7.07
6.8
7.01
8
8.67
INFLATION SPIRAL
A phenomenon where the rising price of goods and ser- vices leads to hire wages, which in turn leads to higher prices.
palgrave
0
82.99
7.2
0
7.49
10.3
9.75
12
10.62
INFLATION SWAP
An OVER-THE-COUNTER SWAP involving the exchange of fixed and actual INFLATION rates. Inflation swaps, which are generally struc- tured as ANNUAL S or ZERO COUPON S, often have final MATURITIES of 10+ years. The market convention for infla- tion swap quotations is country-specific: United Kingdom (UK RPI, monthly with a 2-month lag), United States (US CPI, interpolated), France (French CPI, interpolated), Europe (European HICP, monthly with 3-month lag).
palgrave
0
39.97
13.3
15.5
13.81
16.9
12.89
16
15.55
INFLATION TARGET
A policy used by certain CENTRAL BANKS or monetary authorities that establishes a medium-term range for acceptable INFLATION, and then calibrates MONETARY POLICY to attempt to achieve a result in the targeted range. See also INTEREST RATE POLICY.
palgrave
0
35.27
13.1
0
13.98
14
11.23
15.5
17.07
INFORMATION RATIO
A measure of the success of an INVESTMENT man- ager computed as the ACTIVE RETURN of a PORTFOLIO divided by ACTIVE RISK. The ratio can be computed ex-ante through a forecast, or ex-post through realized performance.RIGHTS ISSUE.
palgrave
0
52.7
10.5
0
11.72
12.3
11.38
12.75
13.89
INITIAL YIELD
The YIELD on an ASSET computed at the time of acquisition as the annual INCOME (DIVIDENDS, INTEREST) divided by the initial cost of acquiring the asset. See also YIELD TO MATURITY.
palgrave
0
47.28
10.5
0
9.57
9.1
10.01
11.75
16.52
INLAND BILL
In the United Kingdom, a BILL OF EXCHANGE that is purely domestic in nature, being drawn and payable inside the country. Also known as AGENCY BILL. See also FOREIGN BILL.
palgrave
0
69.79
6
6.4
7.51
5.7
7.82
4.333333
5.33
INLAND REVENUE
See REVENUE AND CUSTOMS, HM.
palgrave
0
83.32
2.9
0
3.8
3.7
13.36
1.5
2
INSIDE DIRECTOR
A board DIRECTOR who is related to the company and/ or its executives in some manner, such as through previous employment, busi- ness or consulting relationship, or personal relationships. Inside directors are generally not considered to be independent for GOVERNANCE purposes. See also OUTSIDE DIRECTOR.
palgrave
0
22.41
13.9
16.7
14.61
13.3
10.7
13.166667
19.33
INSIDE INFORMATION
Any item of information pertinent to a public com- pany that is not in the public domain. Such information must be treated as confidential by those in possession, and in many legal jurisdictions cannot be used to create a profit. Also known as NONPUBLIC INFORMATION, PRICE- SENSITIVE INFORMATION. See also INSIDER TRADING.
palgrave
0
41.36
10.7
12.6
11.18
9.6
9.44
8.25
11.35
INSIDE MARKET
BIDS and OFFERS between DEALERS expressly for dealer accounts, rather than those intended for BROKERS or their clients.
palgrave
0
53.21
10.3
0
14.67
14.3
12.42
11
11.64
INSIDER DEALING
See INSIDER TRADING.
palgrave
0
34.59
9.2
0
7.32
8.3
14.31
1.5
14.53
INSIDER SYSTEM
A corporate ownership system where controlling interests (e.g., family stakes, large corporate or BANK shareholdings) limit the ability of outside INVESTORS to influence the GOVERNANCE or management processes. Insiders systems are most commonly found in Continental Europe, Southeast Asia, and parts of Latin America. See also OUTSIDER SYSTEM.
palgrave
0
29.86
13.1
16.3
16.88
15.6
12.98
13.333333
17.23
INSOLVENCY
A state where a company’s LIABILITIES exceed the MARKET VALUE of its ASSETS (giving rise to NEGATIVE EQUITY) or when it cannot pay DEBTS falling due in the normal course of business. Insolvency generally leads to filing of VOLUNTARY BANKRUPTCY or INVOLUNTARY BANKRUPTCY. See also DEFAULT, EVENT OF DEFAULT, SOLVENCY.
palgrave
0
37.6
12.2
14.1
12.58
12.1
10.47
12
14.68
INSOLVENCY CLAUSE
A clause in a REINSURANCE CONTRACT indicating that the REINSURER is still liable for its share of any CLAIM submitted by an INSURED, even if the insured’s primary INSURER (i.e., the CEDING INSURER) is in a state of INSOLVENCY.
palgrave
0
31.89
18.5
0
10.22
20.8
11.64
27.5
22.78
INSOLVENCY RISK
The RISK that a company will be unable to perform on contractual obligations as a result of impending INSOLVENCY, resulting in a DEFAULT. See also CREDIT DEFAULT RISK.
palgrave
0
40.35
11.1
0
10.49
9.1
10.53
9
12.74
INSTALLMENT CREDIT
A form of secured or unsecured CREDIT used by con- sumers for the purchase of DURABLE GOODS. The installment credit processallows the consumer to take possession of the goods being acquired immedi- ately, in exchange for a down payment or deposit plus an agreement to pay INTEREST and remaining PRINCIPAL over time. See also HIRE PURCHASE.
palgrave
0
52.49
10.6
12.5
11.49
11.8
9.92
12
13.19
INSTALLMENT OPTION
An OVER-THE-COUNTER COMPLEX OPTION allow- ing the buyer to pay the seller PREMIUM in installments, rather than upfront, and to cancel the CONTRACT at any time by suspending remaining payments. If the buyer completes all required payments, the seller grants a conventional EUROPEAN OPTION with contract details as specified on the trade date.
palgrave
0
44.58
13.6
0
13.76
17.5
10.91
17.25
15.88
INSTITUTIONAL BROKER
A BROKER that deals strictly with INSTI- TUTIONAL INVESTORS in matching ORDERS.
palgrave
0
50.84
9.2
0
13.73
11.3
14.76
6
8.13
INSTITUTIONAL INVESTOR
A large, professional INVESTOR, such as aPENSION FUND, INSURANCE FUND, MUTUAL FUND, UNIT INVESTMENT TRUST or HEDGE FUND, which often deals on behalf of a large number of small investors. The largest institutional investors manage significant amounts of CAPITAL and can have a decisive impact on market prices. See also RETAIL INVESTOR.
palgrave
0
53.92
10
12.5
13.11
13
10.87
11.333333
12.3
INSURABLE RISK
A RISK event that produces a loss that is definable, fortuit- ous, noncatastrophic, and homogenous, and that can be transferred through payment of a reasonably priced PREMIUM. Risk events that do not feature such characteristics may not always be insurable as the cost of RISK TRANSFER may be prohibitively expensive. See also UN.LIABILITY INSURANCE, PROPERTY AND CASUALTY INSURANCE, PROPERTY AND LIABILITY INSURANCE, and BUSINESS INTERRUPTION INSURANCE. Also known as ASSURANCE, INSURANCE POLICY. See also INDEMNITY CONTRACT, VALUED CONTRACT.
palgrave
0
30.26
12.9
15.6
15.89
14.5
10.48
12.6
15.47
INSURANCE AGENT
An AGENT that specializes in providing clients with advice on, and access to, various types of INSURANCE products and insurance solutions from one or several INSURERS. An agent that acts only in the interest of one insurer may be considered a captive agent or tied agent.
palgrave
0
48.13
12.3
0
11.03
13.2
10.61
17
17.03
INSURANCE BROKER
A BROKER that specializes in providing clients with advice on, and access to, various types of INSURANCE products and insurance solutions from a large number of INSURERS, earning a COMMISSION that is often set as a percentage of any PREMIUM earned by the ultimate provider.CATASTROPHE BOND, EXTREME MORTALITY BOND, LIFE ACQUISITION COST SECURITIZATION, MORTALITY BOND, MORTGAGE DEFAULT SECURITIZATION, RESIDUAL VALUE SECURITIZATION, WEATHER BOND.
palgrave
0
-26.32
32.6
0
17.94
38.8
13.78
50.5
34.72
INSURED
A party in an INSURANCE CONTRACT that transfers, or CEDES, RISK to an INSURER by paying a PREMIUM. The amount of risk the insured cedes is typically a function of its own financial profile and its desire to retain or transfer specific types of risks. See also CEDING COMPANY. Also known as CEDANT (CEDENT).
palgrave
0
66.23
7.4
10.7
8.46
7.4
10.45
7.5
9.84
INSURED PERIL
A PERIL that is specifically covered by an INSURANCE CONTRACT.
palgrave
0
44.41
9.6
0
11.4
8.5
12.03
6
12
INTANGIBLE
See ASSET.
palgrave
0
35.61
8.8
0
-7.41
0.8
11.63
0
0.8
INTANGIBLE ASSET
An ASSET with value but without physical character- istics, such as GOODWILL, trademarks, copyrights, or intellectual property. Intangibles are generally heterogeneous across firms, and are typically very ILLIQUID. Also known as INTANGIBLE, INVISIBLE ASSET.
palgrave
0
17.71
13.6
13.6
18.02
15.3
12.09
8
16.28
INTEGRATION
The third stage in the MONEY LAUNDERING process, in which the proceeds from layered transactions are used to enter into other seemingly common financial operations, such as redepositing layered pro- ceeds into BANKS for further borrowing, lending to shell companies, and so forth. Once integrated, the ability of authorities to trace illicit funds becomes far more difficult.
palgrave
0
34.09
15.6
0
14.68
19.2
11.42
20.75
20.52
INTELLECTUAL PROPERTY
A form of INTANGIBLE ASSET that typically includes patents, copyrights, brand names, trademarks, service marks, and images, which can be valued, licensed, or sold. In most countries a company’s intellectual property is protected under the law, and any infringement can result in legal action and restitution.
palgrave
0
39.67
13.4
0
14.8
17
12.67
15.5
16.16
INTENSITY MODEL
A form of CREDIT DEFAULT MODEL that estimates the time of a COUNTERPARTY’S failure with a particular intensity over an uncertain time horizon. Such models have no direct reference to a firm’s value but derive the PROBABILITY of the event as an instantaneous likelihood of DEFAULT. See also STRUCTURAL MODEL, CREDIT MARK-TO-MARKET MODEL.and social progress and supply long-term development finance to member countries, modeled after the INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT.
palgrave
0
21.74
16.2
15.9
16.02
18
10.97
17
16.27
INTERBANK MARKET
The general marketplace for the pricing and TRADING of LIABILITIES of large BANKS.
palgrave
0
41.36
10.7
0
12.63
10.4
10.35
8.5
11.35
INTER-DEALER BROKER (IDB)
A BROKER that deals exclusively with DEALERS and market professionals, rather than external clients. IDBs often exe- cute their BROKERAGE business on a “blind” basis in order to preserve confidenti- ality about TRADES and positions in the competitive institutional marketplace.
palgrave
0
25.8
14.6
0
16.53
16.6
12.13
15
18
INTEREST
(1) The amount paid or earned on DEBT CAPITAL that is bor- rowed or lent, based on a defined RATE. (2) An ownership stake in a PARTNERSHIP or CORPORATION. See also COMPOUNDING, FUTURE VALUE, PRESENT VALUE, YIELD.
palgrave
0
61.16
9.3
0
8.41
10.2
11.38
11.75
11.72
INTEREST ARBITRAGE
See COVERED .
palgrave
0
35.61
8.8
0
-1.61
5.5
11.63
0.5
0.8
INTEREST COVERAGE TEST
An INTEREST-related financial test per- formed in a COLLATERALIZED DEBT OBLIGATION structure (or other SECURITAZATION) to determine whether the CASH FLOW WATERFALL can make payments to increasingly SUBORDINATED TRANCHES. The form of the test is given by:(Interest due on COLLATERAL pool)/(Interest due on target TRANCHE + Interest due on all tranches ranking SENIOR to the target)The test is considered successful if the interest coverage ratio is greater than or equal to the specified TRIGGER.
palgrave
0
17.51
19.9
0
15.79
24
11.72
28
22.82
INTEREST EXPENSE
A COST that is incurred for borrowing money via LOANS, DEBT issuance, or certain other LIABILITIES. See also INTEREST INCOME.
palgrave
0
44.41
9.6
0
10.82
8.5
10.45
5.5
10
INTEREST INCOME
INCOME that is generated by lending money or invest- ing in FIXED INCOME SECURITIES. See also INTEREST EXPENSE.
palgrave
0
45.42
9.2
0
10.29
7.7
11.1
5
10.27
INTEREST-ONLY MORTGAGE
A type of MORTGAGE in which the BORROWER makes monthly payments which include INTEREST but no PRINCIPAL. The principal balance becomes due at MATURITY, implying that the mortgage is a form of BULLET LOAN.
palgrave
0
54.22
9.9
0
11.08
10.8
10.52
11.5
12.68
INTEREST RATE
The price of DEBT CAPITAL. For a BORROWER, it repre- sents the cost of funds or the cost of borrowing; for INVESTORS or LENDERS it is the earning rate on capital invested or lent. Also known as RATE, RATE OF INTEREST.
palgrave
0
74.49
6.3
11.2
6.2
5.8
8.94
7.833333
9.38
INTEREST RATE DERIVATIVE
An EXCHANGE-TRADED DERIVATIVE or OVER-THE-COUNTER DERIVATIVE with an UNDERLYING reference based on short-, medium- or long-term INTEREST RATES. An interest rate deriva- tive may be structured as an INTEREST RATE FUTURE, interest rate OPTION, FORWARD RATE AGREEMENT, INTEREST RATE SWAP, or SWAPTION. See also CAP, CAPLET, CAPTION, COMMODITY DERIVATIVE, CREDIT DERIVATIVE, CURRENCY DERIVATIVE, FLOOR, FLOORLET, FLOORTION, PAYER SWAPTION, RECEIVER SWAPTION.
palgrave
0
17.34
15.8
16.7
18.51
19.6
11.21
15.666667
12.67
INTEREST RATE DIFFERENTIAL
The difference between the FORWARD RATES of two CURRENCIES. The interest rate differential can be determined via:rdiff = FP( RB)(100)where FP is the FORWARD POINTS, FXs is the SPOT FOREIGN EXCHANGE rate, t is the time to maturity (days), and RB is the rate basis (e.g., 360, 365 days).
palgrave
0
64.04
10.3
0
9.35
13.8
12.06
15.25
13.77
INTEREST RATE FORWARD
See FORWARD RATE AGREEMENT.
palgrave
0
75.88
3.7
0
10.15
8.8
7.78
1
1.6
INTEREST RATE MARGIN
(1) The SPREAD charged by a BANK or other FINANCIAL INSTITUTION over and above its own cost of funding. (2) SeeNET INTEREST MARGIN.
palgrave
0
65.05
9.9
0
9
12.4
10.96
14.5
14.42
INTEREST RATE OPTION
An EXCHANGE-TRADED or OVER-THE- COUNTER OPTION involving an INTEREST RATE. VANILLA and COMPLEX OPTIONS can be bought and sold on various BENCHMARK rates, and may also form part of other structured DERIVATIVES, such as SWAPTIONS, CAPS, and FLOORS. See also COMMODITY OPTION, CURRENCY OPTION, EQUITY OPTION, INDEX OPTION.
palgrave
0
46.78
10.7
12.5
13.74
13.3
10.68
10.666667
12.23
INTEREST RATE PARITY
A theory stating that the INTEREST RATE DIFFERENTIAL between two CURRENCIES approximates the difference between the FORWARD DISCOUNT or FORWARD PREMIUM implied inFOREIGN EXCHANGE RATES.
palgrave
0
12.26
17.8
0
20.14
21.4
11.82
20.5
21.2
INTEREST RATE POLICY
A policy used by certain CENTRAL BANKS or mon- etary authorities that attempts to influence MONEY SUPPLY within a national system by setting the level of INTEREST RATES. This approach implies that properly calibrating rates and the money supply will lead to the proper balance of economic output and INFLATION. See also INFLATION TARGET.
palgrave
0
44.75
11.5
13.6
12.53
12.3
11.25
12.333333
13.87
INTEREST RATE RISK
The RISK of loss due to an adverse move in the direction of INTEREST RATES. Interest rate risk is a form of DIRECTIONAL RISK.
palgrave
0
76.22
5.6
0
6.02
4.6
7.52
7
8.13
INTERIM ACCOUNTS
See INTERIM FINANCIAL STATEMENTS.
palgrave
0
8.2
13.1
0
18.85
15.9
15.68
3
21.6
INTERIM FINANCIAL STATEMENTS
A set of FINANCIAL STATEMENTS produced by a company for a specific interim reporting period, which generally occurs quarterly or semiannually. Unlike a company’s annual accounts, the interim statements may not be externally AUDITED. Also known as INTERIM ACCOUNTS.
palgrave
0
15.98
14.3
15.9
14.72
12.3
11.16
11.5
17.51
INTERLOCKING DIRECTORATE
See INTERLOCKING DIRECTORSHIP.
palgrave
0
-50.02
21
0
26.63
24
14.31
2.5
27.87
INTERLOCKING DIRECTORSHIP
A practice where executives or DIRECTORS from one firm serve as DIRECTORS on another firm’s board, and vice-versa. From a GOVERNANCE perspective this may create conflicts of interest and lack of independence. Also known as INTERLOCKING DIRECTORATE. See also FILZ.
palgrave
0
44.41
9.6
12.6
12.85
9.9
10.84
6.75
12
INTERMARKET SPREAD
A strategy that seeks to take advantage of price dif- ferences between two unique, though often related, markets or ASSETS; the SPREAD attempts to capitalize on movements in the spread, or BASIS, rather than the absolute direction or VOLATILITY, of the references.
palgrave
0
28.85
19.7
0
13.3
24.6
11.73
29
23.47
INTERMARKET SWEEP ORDER
In the United States, under REGULATION NMS, a LIMIT ORDER designated for automatic EXECUTION in a specified venue even when a better quote is available from another venue. In order to adhere to regulations, the order must be concurrently sent to the venues with better prices but is not subject to auto-routing.
palgrave
0
36.63
14.6
0
11.32
15.1
9.78
17.5
15.78
INTERMEDIARY
An institution that stands between two clients, or a cli- ent and a market, in the provision of financial services, including advice, EXECUTION, DEPOSIT-taking, and financing. Also known as FINANCIAL .
palgrave
0
39.33
11.5
0
13.27
12.9
10.7
11.75
14
INTERNAL AUDIT
A form of AUDIT performed within a company or other organization by its own AUDITORS. The purpose of such an audit is to verify the status of internal controls, rather than issue an AUDIT OPINION (which requires the use of an external auditor). See also EXTERNAL AUDIT.element of PILLAR II of the BASLE II framework, in which a participating BANK creates appropriate GOVERNANCE and processes for reviewing all of its RISKS and its available CAPITAL resources, develops appropriate strategies, conducts STRESS TESTS, and documents its processes. These may be reviewed by the relevant national regulator through the SUPERVISORY REVIEW AND EVALUATION PROCESS.
palgrave
0
28.67
15.6
17.1
13.87
16.9
11.4
18.25
17.65
INTERNAL CAPITAL GENERATION
The amount of CAPITAL a company generates through EARNINGS and allocates to its RETAINED EARNINGS account.t =1 (1 + IRR)twhere CFt is a cash flow in period t, N is the number of periods. See alsoPROFITABILITY INDEX.RECEIPT.ies of standards and interpretations promulgated by the INTERNATIONAL ACCOUNTING STANDARDS BOARD that address key ACCOUNTING issues, and which are increasingly adopted as a global standard. IFRS has adopted the standards previously set forth via the INTERNATIONAL ACCOUNTING STANDARDS.
palgrave
0
21.02
16.5
16.7
16.08
18.5
11.26
18.166667
15.83
INTERNATIONAL MONETARY FUND (IMF)
A supranational organization created in 1946 to assist in maintaining financial stability and administer the fixed FOREIGN EXCHANGE RATE regime that existed until 1971. The IMF now focuses on granting LOANS, managing external DEBT programs (via the Supplemental Reserve Facility and Country Credit Line program), and creating stability plans for DEBTOR nations. The organization is financed via subscrip- tions from member countries.
palgrave
0
25.08
14.9
16.3
16.77
17.2
13.83
15.666667
17.31
(IOSCO)
An agency, formed in 1983, comprised of national SECURITIES REGULATORS, that addresses issues related to consistent REGULATION and surveillance of securities markets and enforcement of securities laws.
palgrave
0
1.77
19.7
0
19.73
22.6
14.33
24.5
24.13
INTERPOLATION
A mathematical method for computing missing or unob- served INTEREST RATES along the YIELD CURVE. A point can be interpolated using LINEAR , EXPONENTIAL , or CUBIC SPLINE . Also known as YIELD CURVE .
palgrave
0
44.1
9.7
10.5
11.17
8.9
11.79
6.5
10.57
INTERPOSITIONING
The act of placing a BROKER or SPECIALIST between two PRINCIPALS to facilitate a TRADE. Interpositioning is illegal when a bro- ker intercedes simply to generate additional COMMISSIONS, or when a special- ist intercedes to take one side of the TRADE for proprietary purposes. See alsoAFFIRMATIVE OBLIGATION, NEGATIVE OBLIGATION.
palgrave
0
29.55
13.2
16.3
14.73
13.6
11.21
13.5
17.95
INTRADAY LIMIT
(1) A price band on an ASSET traded on an EXCHANGE that cannot be exceeded. (2) A RISK limit granted by a BANK or other finan- cial institution to a COUNTERPARTY or to its own proprietary TRADINGoperation that can be used during a single trading day. In most instances any resulting risk exposure must be reduced or flattened by the close of business.
palgrave
0
47.96
14.4
0
9.18
15.9
10.21
19.25
17.04
INTRODUCING BROKER
An INTERMEDIARY standing between a client and a FUTURES COMMISSION MERCHANT (FCM) that develops and executes client strategies. Since the introducing broker cannot hold customer funds, it must deal through an FCM, which has proper authority.
palgrave
0
44.75
11.5
0
14.67
14.5
10.67
12
13.87
INVENTORY FINANCING
A WORKING CAPITAL LOAN used to finance the purchase of INVENTORY that a company ultimately uses for production and sales to customers. The proceeds of the inventory sale are typically used to repay the loan, making the transaction self-liquidating. Inventory finan- cing may be secured or unsecured; if secured, the loan may include a charge over specific inventory or a FLOATING LIEN applicable to inventories in general.
palgrave
0
31.92
14.3
16.3
13.12
14.7
10.16
16.5
14.89
INVENTORY TURNOVER
A measure of a company’s ability to sell INVENTORIES of finished goods, typically calculated as:where CGS is the COST OF GOODS SOLD, and INVAVG is average inventory on hand during the period.A high turnover ratio is generally an indication of efficiency in managing the inventory process.PERPETUAL FLOATING RATE NOTE, RANGE FLOATING RATE NOTE.
palgrave
0
-7.71
27.5
0
14.7
30.9
12.52
40.5
31.01
INVERTED YIELD CURVE
See NEGATIVE YIELD CURVE.
palgrave
0
75.88
3.7
0
7.25
6.5
11.73
2
11.6
INVESTING CASH FLOW
The portion of the STATEMENT OF CASH FLOWS depicting the flows impacting a firm’s ASSET and INVESTMENT accounts, including additions to, or disposals of, property, plant and equipment, MARKETABLE SECURITIES, and other corporate or SUBSIDIARY interests. See also FINANCING CASH FLOW, OPERATING CASH FLOW.
palgrave
0
32.22
14.2
0
15.78
17.4
12.26
17
19.71
INVESTMENT
An allocation of CAPITAL by an INVESTOR in real or finan- cial ASSETS in expectation of a fair RETURN.
palgrave
0
43.73
11.9
0
7.78
8.9
9.57
12.5
11.81
INVESTMENT ADVISOR
A FIDUCIARY that acts as an AGENT for an invest- ing client, ensuring all business is transacted in the best interests of that client. In most jurisdictions investment advisors must be registered with REGULATORS and disclose any conflicts of interest they may have in providing particular investment recommendations. See also BROKER.
palgrave
0
37.3
12.3
15.5
14.03
13.2
10.67
13.166667
17
INVESTMENT ANALYST
An analyst working for a BANK or other FINANCIAL INSTITUTION that is responsible for analyzing the financial state and pros- pects of a company that is an ISSUER of EQUITY or DEBT, with a view toward developing a recommendation on whether to buy, sell, or retain a position in the issuer’s SECURITIES. Investment analysts rely on FINANCIAL ANALYSIS, FUNDAMENTAL ANALYSIS, and/or TECHNICAL ANALYSIS to develop their recommendations. See also CREDIT ANALYST, EQUITY ANALYST.into BANK HOLDING COMPANIES. See also BOUTIQUE, MERCHANT BANK,UNIVERSAL BANK.
palgrave
0
16.83
16
18
14.74
15.7
10.82
17
17.47
INVESTMENT BANKER
A BANKER working at an INVESTMENT BANK, MERCHANT BANK, or BOUTIQUE that is primarily involved in CORPORATE FINANCE, MERGERS and ACQUISITIONS, or CAPITAL MARKETS financings. See also BANKER, FINANCIER, PRIVATE BANKER.
palgrave
0
38.82
11.7
0
15.72
14.6
11.54
10.75
12.65
INVESTMENT COMPANY
A registered company that raises CAPITAL from INVESTORS by selling SHARES or units, and invests in a range of ASSETS on a LEVERAGED of unleveraged basis. In the United States, MUTUAL FUNDS (OPEN-END FUNDS) and UNIT INVESTMENT TRUSTS (CLOSED-END FUNDS) are the most popular forms of investment companies; in the United Kingdom, UNIT TRUSTS and INVESTMENT TRUSTS perform a similar function.
palgrave
0
40.52
15.2
0
13.36
19.2
11.36
20.75
16.79
INVESTMENT GRADE
A CREDIT RATING designation applied to any ISSUER of SECURITIES that is rated between AAA and BBB– by Standard and Poor’s, or Aaa and Baa3 by Moody’s Investors Services. Investment grade companies have the strongest financial profiles and the lowest likelihood of encounter- ing FINANCIAL DISTRESS leading to DEFAULT. See also SUB.
palgrave
0
45.46
11.2
11.9
13.11
12.6
13
11
11.54
INVESTMENT INCOME
Any form of INCOME generated from INVEST- MENT activities, which may include DIVIDENDS, INTEREST, and/or CAPITAL GAINS.
palgrave
0
28.84
13.5
0
15.54
15.6
11.91
13.5
16.21
INVESTMENT LETTER
In the United States, a document between the buyer and seller of a PRIVATE PLACEMENT indicating that SECURITIES will not be offered for resale to the general public for a specific period of time; once the time period passes, they may be sold to a limited population under Rule 144A of the SECURITIES AND EXCHANGE COMMISSION.
palgrave
0
6.18
26.3
0
11.04
29.2
10.93
39
28.11
INVESTMENT MANAGER
See PORTFOLIO MANAGER.insurance, guaranteed investment contracts, and fixed annuities, the INSURER bears the MARKET RISK of the cash value investment (providing the INSURED with a de-facto GUARANTEE), while with variable life insurance and variable annuities, the insured bears the risk.
palgrave
0
13.96
21.3
0
17.82
27.8
11.94
32
24
INVESTMENT PREMIUM
The additional amount an INVESTOR pays over the INVESTMENT VALUE of a CONVERTIBLE BOND to reflect the EQUITY OPTION features of the convertible; the premium is typically expressed as a percentage of investment value:⎠where PCB is the price of the convertible bond and IV is investment value. Also known as BOND PREMIUM. See also CONVERSION PREMIUM.
palgrave
0
44.03
11.8
15.5
12.53
12.5
9.36
14
13.19
INVESTMENT RATIO
In INSURANCE, a measure of the extent to which an INSURER’s gains come from INVESTMENT, rather than UNDERWRITING, activities, typically computed as:where Inv is gain on PORTFOLIO investments and Pr is PREMIUM earned. The higher the ratio, the greater the insurer’s reliance on investment incomerather than core insurance underwriting.
palgrave
0
29.69
15.2
0
15.9
18.3
11.62
19.75
18.78
INVESTMENT TRUST
(1) In the United Kingdom, a PUBLIC LIMITED COMPANY traded on an EXCHANGE that raises CAPITAL through the place- ment of COMMON STOCK and DEBENTURES and invests the funds in a range of financial ASSETS. Since investment trusts are permitted to issue debentures they can invest on a LEVERAGED basis, magnifying potential gains and losses.(2)In the United States, see CLOSED-END FUND. (1,2) See also INVESTMENT COMPANY, MUTUAL FUND.
palgrave
0
36.97
16.6
0
12.83
20.7
11.59
22.5
17.72
INVESTOR
Any party that provides CAPITAL in expectation of a future RETURN. See also INSTITUTIONAL , INVESTMENT, RETAIL .
palgrave
0
12.6
13.5
0
13.35
10.5
9.95
5.5
10.7
INVISIBLE ASSET
See INTANGIBLE ASSET.
palgrave
0
9.21
12.7
0
9.23
9.9
14.31
1.5
14.53
INVISIBLES
International TRADE involving services rather than goods; invisible EXPORTS include sales of services to nonresidents, while invisible IMPORTS are based on the purchase of services from nonresidents. Key items within the invisibles account include transportation, banking, INSURANCE, ACCOUNTING, legal services, medical practices, and hotel/leisure services. Invisibles are a key element of a country’s BALANCE OF TRADE and BALANCE OF PAYMENTS accounts. Also known as INVISIBLE BALANCE. See alsoVISIBLE.
palgrave
0
28.84
13.5
14.2
18.44
17.3
10.98
12.25
13.27
INVOICE PRICE
The total amount the buyer of a BOND pays the seller; in most markets this is the bond’s current market value plus ACCRUED INTEREST (i.e., the DIRTY PRICE).
palgrave
0
59.98
11.8
0
8.3
14.3
11.79
15
12.63
INVOLUNTARY BANKRUPTCY
A process where CREDITORS file a peti- tion to force a DEBTOR into BANKRUPTCY after the debtor commits an “act of bankruptcy,” generally a DEFAULT on a payment due. If the court accepts the petition the proceedings follow those established for LIQUIDATION or REORGANIZATION under VOLUNTARY BANKRUPTCY.
palgrave
0
39.16
13.6
0
13.99
15.9
10.51
16.75
17.06
IOI
See INDICATION OF INTEREST.
palgrave
0
8.2
13.1
0
10.15
8.8
11.73
3
21.6
IOSCO
See INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS.
palgrave
0
-69.98
24.5
0
28.47
22.4
14.46
6
29.07
IPO
See INITIAL PUBLIC OFFERING.
palgrave
0
33.58
9.6
0
11.6
10
11.73
2
11.6
IRA
See INDIVIDUAL RETIREMENT ACCOUNT.
palgrave
0
-34.11
19
0
20.3
17.1
11.73
3
21.6
IRB APPROACH
See INTERNAL RATINGS-BASED APPROACH.
palgrave
0
8.2
13.1
0
21.75
19.4
19.62
3
11.6
IRISH ASSET COVERED SECURITIES
In Ireland, a form of COVERED BOND backed by MORTGAGES and issued by designated CREDIT institutions.
palgrave
0
46.78
10.7
0
12.53
11.6
13.31
9
11.4
IRR
See INTERNAL RATE OF RETURN.
palgrave
0
66.4
5.2
0
4.96
3.7
7.04
2.5
10
IRRATIONAL OPTION
An OPTION embedded in a STRUCTURED NOTE, such as CONVERTIBLE BOND or MORTGAGE-BACKED SECURITY, that is not EXERCISED when it is IN-THE-MONEY, or which is exercised when it is OUT-OF-THE-MONEY. The reasons for irrational exercise may relate to over- arching macroeconomic or idiosyncratic factors that override pure economic rationale.
palgrave
0
38.15
14
0
15.44
18.3
11.3
18.75
17.96
IRREDEEMABLE SECURITY
A SECURITY without a final MATURITY date, such as a PERPETUAL BOND, PERPETUAL DEBENTURE, or a CONSOL. This includes undated securities that are redeemable at the option of the BOR- ROWER/ISSUER, but in practice are allowed to remain outstanding.
palgrave
0
34.76
13.3
0
12.3
13.3
11.89
13.75
13.95
IRREVOCABLE LETTER OF CREDIT
A LETTER OF CREDIT that can only be cancelled by agreement of both parties (i.e., the DRAWER and the BANK).The facility remains in place until mutual cancellation or final MATURITY. See also CONFIRMED LETTER OF CREDIT, DIRECT PAY LETTER OF CREDIT, STANDBY LETTER OF CREDIT, TRANSFERABLE LETTER OF CREDIT.
palgrave
0
38.15
14
0
12.02
15.4
9.36
14.75
13.88
IRS
See INTERNAL REVENUE SERVICE.
palgrave
0
33.58
9.6
0
13.05
11.2
11.73
2
11.6
ISA
See INDIVIDUAL SAVINGS ACCOUNT.
palgrave
0
-8.73
15.5
0
15.95
13.5
7.78
2
11.6
ISA MORTGAGE
In the United Kingdom, a form of INTEREST-ONLY MORTGAGE where the BORROWER makes monthly INTEREST payments but no PRINCIPAL payments. In lieu of a principal payment, the borrower makes a DEPOSIT into an INDIVIDUAL SAVINGS ACCOUNT (ISA), the balance of which is used to repay outstanding principal at MATURITY of the mortgage.
palgrave
0
36.63
14.6
0
12.71
16.4
8.87
18
15.02