|Research and Development Incentives|
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Definition of Research and Development Incentives
Research and Development Incentives
Government programs to promote research and development.
A development strategy followed by many Latin American
International Bank for Reconstruction and development makes loans at nearly conventional terms to countries for projects of high
Unfinished research and development that is acquired from another firm.
A bank machine, sometimes referred to as an automated teller machine (ATM).
A strategy that uses available information and forecasting techniques to seek a
A form of organization commonly used by foreign banks to enter the U.S. market. An agency
A firm's investing in assets that are riskier than those that the debtholders expected.
Arises when the stockholders substitute riskier assets for the firm's existing
Notes issued by states and municipalities to obtain interim financing for
Money in a bank cheque account, the difference between receipts and payments.
The time that elapses between when a check is deposited into a bank account and when the funds are available to the depositor, during which period the bank is collecting payment from the payer's bank.
A convention used for quoting bids and offers for treasury bills in terms of annualized
A draft addressed to a bank.
A guaranteed form of payment which is issued in amounts over $5,000.
An international bank headquartered in Basel, Switzerland, which
Line of credit granted by a bank to a customer.
Money owed to the bank in a cheque account where payments exceed receipts.
The process of taking the balances from the bank statement and the general ledger and making adjustments so that they agree.
A comparison between the cash position recorded on a company’s
A computer message system linking major banks. It is used not for effecting payments, but as a
A short-term credit investment created by a non-financial firm and guaranteed by a
A bill of exchange, or draft, drawn by the borrower for payment on a specified date, and accepted by a chartered bank. Upon acceptance, the bill becomes, in effect, a postdated certified cheque.
State of being unable to pay debts. Thus, the ownership of the firm's assets is transferred from
The reorganization or liquidation of a firm that cannot pay its debts.
Bankruptcy cost view
The argument that expected indirect and direct bankruptcy costs offset the other
The risk that a firm will be unable to meet its debt obligations. Also referred to as default or insolvency risk.
The argument that expected bankruptcy costs preclude firms from being financed entirely
A strategy in which the maturities of the securities included in the portfolio are concentrated
A strategy in which a portfolio is constructed so that the maturities of its securities are highly
A passive investment strategy with no active buying and selling of stocks from the
A public agency responsible for regulating and controlling an economy's monetary and financial institutions. It is the sole money-issuing authority.
Clearing House Interbank Payments System (CHIPS)
An international wire transfer system for high-value
A strategy in which a put and with the same strike price and expiration are either both
A privately owned, profit-seeking firm that accepts deposits and makes loans.
a foundation for the compensation plan that addresses the role compensation should play in the organization
System whereby customers make payments to a regional collection center which transfers funds to
an organizational strategy in which company management decides to confront, rather than avoid, competition; an organizational strategy in which company management still attempts to differentiate company
A merchant banking subsidiary set up by several banks that may or may not be of the
cost leadership strategy
a plan to achieve the position in a
Covered call writing strategy
A strategy that involves writing a call option on securities that the investor
Refers to multi-period cash flow matching.
a technique for avoiding competition by distinguishing a product or service from that of competitors through adding sufficient value (including quality and/or features) that customers are willing to pay
Domestic International Sales Corporation (DISC)
A U.S. corporation that receives a tax incentive for
Eligible bankers' acceptances
In the BA market, an acceptance may be referred to as eligible because it is
A bank that regularly accepts foreign currency denominated deposits and makes foreign currency loans.
Export-Import Bank (Ex-Im Bank)
The U.S. federal government agency that extends trade credits to U.S.
Federal Financing Bank
A federal institution that lends to a wide array of federal credit agencies funds it
Federal Home Loan Banks
The institutions that regulate and lend to savings and loan associations. The
Federal Reserve Banks
The twelve district banks in the Federal Reserve System.
Foreign banking market
That portion of domestic bank loans supplied to foreigners for use abroad.
Fractional Reserve Banking
A banking system in which banks hold only a fraction of their outstanding deposits in cash or on deposit with the central bank.
A bond portfolio strategy whose goal is to eliminate the portfolio's risk against a
Foreign-produced good or service bought by us.
Restriction on the quantity of a foreign good that can be imported.
International Banking Facility (IBF)
international banking Facility. A branch that an American bank
A collective term that refers to global bonds, Eurobonds, and foreign bonds.
International Depository Receipt (IDR)
A receipt issued by a bank as evidence of ownership of one or more
The attempt to reduce risk by investing in the more than one nation. By
International finance subsidiary
A subsidiary incorporated in the U.S., usually in Delaware, whose sole
International Fisher effect
States that the interest rate differential between two countries should be an
international Fisher effect
Theory that real interest rates in all countries should be equal, with differences in nominal rates reflecting differences in expected inflation.
A mutual fund that can invest only outside the United States.
A mutual fund that can invest in securities issued anywhere outside of Canada.
Related: See external market.
International Monetary Fund
An organization founded in 1944 to oversee exchange arrangements of
International Monetary Fund (IMF)
Organization originally established to manage the postwar fixed exchange rate system.
International Monetary Market (IMM)
A division of the CME established in 1972 for trading financial
See foreign exchange reserves.
Financial intermediaries who perform a variety of services, including aiding in the sale of
Middleman between a corporation issuing new securities and the public. The middleman buys the securities issue outright and then resells it to customers. Also called an underwriter.
A bond portfolio strategy in which the portfolio is constructed to have approximately equal
A legal proceeding for liquidating or reorganizing a business.
London International Financial Futures Exchange (LIFFE)
A London exchange where Eurodollar futures
London International Financial Futures Exchange (LIFFE)
London exchange where Eurodollar futures as well as futures-style options are traded.
Marginal Propensity to Import
Fraction of an increase in disposable income that is spent on imports.
A British term for a bank that specializes not in lending out its own funds, but in providing
A financial institution that engages in investment banking functions, such as advising clients in mergers and acquisitions, underwriting securities and taking debt or equity positions.
Money center banks
banks that raise most of their funds from the domestic and international money markets, relying less on depositors for funds.
A strategy of using futures for asset allocation by pension sponsors to avoid disrupting the
Passive investment strategy
See: passive management.
Passive portfolio strategy
A strategy that involves minimal expectational input, and instead relies on
PIBOR (Paris Interbank Offer Rate)
The deposit rate on interbank transactions in the Eurocurrency market
A bankruptcy in which a debtor and its creditors pre-negotiate a plan or
Protective put buying strategy
A strategy that involves buying a put option on the underlying security that is
A strategy of introducing into the decision-making process a random element that is
SIMEX (Singapore International Monetary Exchange)
A leading futures and options exchange in Singapore.
Society for Worldwide Interbank Financial Telecommunications (SWIFT)
A dedicated computer network to support funds transfer messages internationally between over 900 member banks worldwide.
A strategy that involves a position in one or more options so that the cost of buying an
Stock replacement strategy
A strategy for enhancing a portfolio's return, employed when the futures
the link between an organization’s goals and objectives
Structured portfolio strategy
A strategy in which a portfolio is designed to achieve the performance of some
A swap in which a money manager exchanges one bond for another bond that is similar in
Wholesale mortgage banking
The purchasing of loans originated by others, with the servicing rights
A multilateral development finance agency created by the 1944 Bretton Woods, New
The international bank for reconstruction and Development, an international organization that provides long-term loans to developing countries to improve their infrastructure.
wealth The part of world wealth that is traded and is therefore accessible to investors.
World Trade Organization (WTO)
the arbiter of global trade that was created in 1995 under the General Agreement on Tariffs and Trade; each signatory country has one
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