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Financial Terms | |
Exclusionary self-tender |
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Definition of Exclusionary self-tenderExclusionary self-tenderThe firm makes a tender offer for a given amount of its own stock while excluding
Related Terms:Fixed-price tender offerA one-time offer to purchase a stated number of shares at a stated fixed price, Self-Employment Contributions Act (SECA)A federal Act requiring self-employed business owners to pay the same total tax rates for Social Security and Self-liquidating loanLoan to finance current assets, The sale of the current assets provides the cash to repay Self-selectionConsequence of a contract that induces only one group (e.g. low risk individuals) to participate. TenderTo offer for delivery against futures. Tender offerGeneral offer made publicly and directly to a firm's shareholders to buy their stock at a price tender offerTakeover attempt in which outsiders directly offer to buy the stock of the firm’s shareholders. ![]() Tender offer premiumThe premium offered above the current market price in a tender offer. Act of state doctrineThis doctrine says that a nation is sovereign within its own borders and its domestic ActiveA market in which there is much trading. Active portfolio strategyA strategy that uses available information and forecasting techniques to seek a activitya repetitive action performed in fulfillment of business functions activity analysisthe process of detailing the various repetitive actions that are performed in making a product or Activity-based budgetingA method of budgeting that develops budgets based on expected activities and cost drivers – see also activity-based costing. activity-based budgeting (ABB)planning approach applying activity drivers to estimate the levels and costs of activities necessary to provide the budgeted quantity and Activity-based costingA method of costing that uses cost pools to accumulate the cost of significant business activities and then assigns the costs from the cost pools to products or services based on cost drivers. ![]() activity based costing (ABC)A relatively new method advocated for the activity-based costing (ABC)a process using multiple cost drivers to predict and allocate costs to products and services; Activity-based costing (ABC)A cost allocation system that compiles costs and assigns activity-based management (ABM)a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received activity centera segment of the production or service activity drivera measure of the demands on activities and, Actual costThe actual expenditure made to acquire an asset, which includes the supplierinvoiced actual cost systema valuation method that uses actual direct ActualsThe physical commodity underlying a futures contract. Cash commodity, physical. ActuaryOne who uses statistical information to evaluate the probability of future events and prices insurance products. ADF (annuity discount factor)the present value of a finite stream of cash flows for every beginning $1 of cash flow. ![]() Allocation base A measure of activity or volume such as labourhours, machine hours or volume of production Amortization factorThe pool factor implied by the scheduled amortization assuming no prepayemts. Annuity factorPresent value of $1 paid for each of t periods. annuity factorPresent value of an annuity of $1 per period. Arm's length priceThe price at which a willing buyer and a willing unrelated seller would freely agree to Ask priceA dealer's price to sell a security; also called the offer price. Asset activity ratiosRatios that measure how effectively the firm is managing its assets. Bargain-purchase-price optionGives the lessee the option to purchase the asset at a price below fair market Basis priceprice expressed in terms of yield to maturity or annual rate of return. Bid priceThis is the quoted bid, or the highest price an investor is willing to pay to buy a security. Practically Bill and Hold PracticesProducts that have been sold with an explicit agreement that delivery Bullet contractA guaranteed investment contract purchased with a single (one-shot) premium. Related: business-value-added activityan activity that is necessary for the operation of the business but for which a customer would not want to pay Call priceThe price, specified at issuance, at which the issuer of a bond may retire part of the bond at a Call priceThe price for which a bond can be repaid before maturity under a call provision. cash flow from operating activities, or cash flow from profitThis equals the cash inflow from sales during the period minus the cash Cash Flow Provided by Operating ActivitiesWith some exceptions, the cash effects of transactions Cash Flow Provided or Used from Financing ActivitiesCash receipts and payments involving Cash Flow Provided or Used from Investing ActivitiesCash receipts and payments involving CASH FLOWS FROM FINANCING ACTIVITIESA section on the cash-flow statement that shows how much cash a company raised by selling stocks or bonds this year and how much was paid out for cash dividends and other finance-related obligations. CASH FLOWS FROM INVESTING ACTIVITIESA section on the cashflow statement that shows how much cash came in and went out because of various investing activities like purchasing machinery. Cash offerA public equity issue that is sold to all interested investors. Cash settlement contractsFutures contracts, such as stock index futures, that settle for cash, not involving Cash transactionA transaction where exchange is immediate, as contrasted to a forward contract, which Characteristic lineThe market model applied to a single security. The slope of the line is a security's beta. Clean priceBond price excluding accrued interest. Collection fractionsThe percentage of a given month's sales collected during the month of sale and each Competitive offeringAn offering of securities through competitive bidding. Completed-Contract MethodA contract accounting method that recognizes contract revenue computer-aided manufacturing (CAM)the use of computers to control production processes through numerically computer integrated manufacturing (CIM)the integration of two or more flexible manufacturing systems through the use of a host computer and an information networking system Conditional sales contractsSimilar to equipment trust certificates except that the lender is either the Consolidated Omnibus Budget Reconciliation Act (COBRA)A federal act Consumer Credit Protection ActA federal act specifying the proportion of Consumer Price Index (CPI)The CPI, as it is called, measures the prices of consumer goods and services and is a Consumer Price Index (CPI)An index calculated by tracking the cost of a typical bundle of consumer goods and services over time. It is commonly used to measure inflation. ContractA term of reference describing a unit of trading for a financial or commodity future. Also, the actual ContractA formal written statement of the rights and obligations of each party to a transaction. Contract AccountingMethod of accounting for sales or service agreements where completion contract manufactureran external party that has been granted an outsourcing contract to produce a part or component for an entity Contract monthThe month in which futures contracts may be satisfied by making or accepting a delivery. contract vendoran external party that has been granted an Contract Work Hours and Safety Standards ActA federal act requiring federal contractors to pay overtime for hours worked exceeding 40 per week. Conversion factorsRules set by the Chicago Board of Trade for determining the invoice price of each Conversion parity priceRelated:Market conversion price Convertible priceThe contractually specified price per share at which a convertible security can be cost of goods manufactured (CGM)the total cost of the Cost of manufactureThe cost of goods manufactured for subsequent sale. cost-plus contracta contract in which the customer agrees Creative Accounting PracticesAny and all steps used to play the financial numbers game, including critical success factors (CSF)any item (such as quality, customer Current Tax Payment Act of 1943A federal act requiring employers to withhold income taxes from employee pay. Cyclical UnemploymentUnemployment that increases when the economy enters a recession and decreases when the economy enters a boom. Davis-Bacon Act of 1931A federal act providing wage protection to nongovernment De factoExisting in actual fact although not by official recognition. Delivery priceThe price fixed by the Clearing house at which deliveries on futures are in invoiced; also the design for manufacturability (DFM)a process that is part of the project management of a new product; concerned with finding optimal solutions to minimizing product failures Devaluation A decrease in the spot price of the currency
Dirty priceBond price including accrued interest, i.e., the price paid by the bond buyer. Discount factorPresent value of $1 received at a stated future date. discount factorPresent value of a $1 future payment. Dollar price of a bondPercentage of face value at which a bond is quoted. Dual syndicate equity offeringAn international equity placement where the offering is split into two Effective call priceThe strike price in an optional redemption provision plus the accrued interest to the Employee Retirement Income Security Act of 1974 (ERISA)A federal act that sets minimum operational and funding standards for employee benefit Equal Pay Act of 1963A federal act requiring that both sexes receive equal pay Equilibrium market price of riskThe slope of the capital market line (CML). Since the CML represents the Escalating Price OptionA nonqualified stock option that uses a sliding scale for Exact matchingA bond portfolio management strategy that involves finding the lowest cost portfolio Exchange offerAn offer by the firm to give one security, such as a bond or preferred stock, in exchange for Exercise priceThe price at which the underlying future or options contract may be bought or sold. Exercise priceThe price set for buying an asset (call) or selling an asset (put). FactorA financial institution that buys a firm's accounts receivables and collects the debt. FactorAn agent who buys and sells goods on behalf of others for a commission. Factor analysisA statistical procedure that seeks to explain a certain phenomenon, such as the return on a Factor modelA way of decomposing the factors that influence a security's rate of return into common and Factor of ProductionA resource used to produce a good or service. The main macroeconomic factors of production are capital and labor. Factor portfolioA well-diversified portfolio constructed to have a beta of 1.0 on one factor and a beta of FactoringSale of a firm's accounts receivable to a financial institution known as a factor. FactoringThe sale of accounts receivable to a third party, with the third party bearing FactoringThe discounting, or sale at a discount, of receivables on a nonrecourse, notification Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |