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Definition of Asymmetry
A lack of equivalence between two things, such as the unequal tax treatment of interest expense
A situation involving information that is known to some, but not all, participants.
bits of knowledge or fact that have been carefully
information that is known to some people but not to other people.
The expected value if the future uncertain outcomes could be known
information about prospective results of operations, financial position and/or changes in financial position, based on assumptions about future economic conditions and courses of action. Future-oriented financial information is presented as either a forecast or a projection.
The correlation between predicted and actual stock returns, sometimes used to
The rise in the stock price following the dividend signal.
Dividend increases send good news about cash flow and earnings. Dividend cuts send bad news.
Transaction costs that include the assessment of the investment merits of a financial asset.
Trades in which an investor believes he or she possesses pertinent
Organizations that furnish investment and other types of information, such as
The speed and accuracy with which prices reflect new information.
Trades that are the result of either a reallocation of wealth or an implementation of an
Relevant information about a company that has not yet been made public. It is illegal for
a structure of interrelated elements that collects, organizes, and communicates
Medical Information Bureau
This organization was established in 1902. The Medical information Bureau (M.I.B.) is a non-profit association of life insurance companies. Its purpose is to detect and deter fraud by providing warnings called, alerts, to member companies. For example, if an insurance applicant advised one insurance company of a heart attack and then applied to another insurance company omitting this history, codes, reported by the first insurance company, indicating a heart attack would alert the second insurance company to the undisclosed history. It is a rarity, however, that the alert is the only notice of a specific medical impairement as most applicants completely disclose their history.
The requirement that all pool information, as specified under the PSA Uniform Practices, in a
A broad, all-inclusive term that refers to the methods and procedures
accounts receivable turnover ratio
A ratio computed by dividing annual
Active portfolio strategy
A strategy that uses available information and forecasting techniques to seek a
activity-based costing (ABC)
a process using multiple cost drivers to predict and allocate costs to products and services;
One who uses statistical information to evaluate the probability of future events and prices insurance products.
A budgeting process using summary-level information to
Aggregate Supply Curve
Combinations of price level and income for which the labor market is in equilibrium. The short-run aggregate supply curve incorporates information and price/wage inflexibilities in the labor market, whereas the long-run aggregate supply curve does not.
American Depositary Receipts (ADRs)
Certificates issued by a U.S. depositary bank, representing foreign
information encoded into a series of bar and spaces of varying widths,
bill of materials
a document that contains information about
a detailed set of documents that provides information
business intelligence (BI) system
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
business process reengineering (BPR)
the process of combining information technology to create new and more effective
Canadian Life and Health Insurance Association (CLHIA)
An association of most of the life and health insurance companies in Canada that conducts research and compiles information about the life and health insurance industry in Canada.
capital investment analysis
Refers to various techniques and procedures
Capital market imperfections view
The view that issuing debt is generally valuable but that the firm's
Refers to recouping, or regaining, invested capital over
Change in Accounting Estimate
A change in accounting that occurs as the result of new information
Chicago Mercantile Exchange (CME)
A not-for-profit corporation owned by its members. Its primary
Communication barrier between financiers (investment bankers) and traders. This barrier is
The representing of accounting information over multiple years as percentages
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
A legal document whereby the one party, usually the prospective investor, pledges to keep strictly confidential, and return on request, any and all information provided by the entrepreneur seeking funding.
cost-benefit analysis the analytical process of comparing the
relative costs and benefits that result from a specific course
cost of production report
a process costing document that
a database providing information about the impact
A signal that provides accurate information; a signal that can be distinguish among senders.
The process of analyzing information on companies and bond issues in order to estimate the
An organization that provides financial institutions with credit information concerning existing or potential customers who are looking to obtain credit services.
The use of general fact to provide accurate information about a specific situation.
The practice of reporting conflicting or markedly different information in official
Additional information attached to a company’s financial statements, usually
The process of systematically evaluating information, to identify risks and issues relating to a proposed transaction.(i.e. verify that information is what it is proposed to be).
Efficient capital market
A market in which new information is very quickly reflected accurately in share
efficient capital markets
Financial markets in which security prices rapidly reflect all relevant information about asset values.
Efficient Market Hypothesis
In general the hypothesis states that all relevant information is fully and
Efficient Markets Hypothesis
The hypothesis that securities are typically in equilibrium--that they are fairly priced in the sense that the price reflects all publicly available information on the security.
Electronic data interchange (EDI)
The exchange of information electronically, directly from one firm's
electronic data interchange (EDI)
the computer-to-computer transfer of information in virtual real time using standardized formats developed by the American National Standards Institute
enterprise resource planning (ERP) system
a packaged software program that allows a company to
A statistical study that examines how the release of information affects prices at a particular time.
The percentage of the assets that were spent to run a mutual fund (as of the last annual
financial reports and statements
Financial means having to do with
Future-oriented financial information prepared using assumptions all of which reflect the entity's planned courses of action for the period covered given management's judgment as to the most probable set of economic conditions.
Costs, both implied and direct, associated with a transaction. Such costs include time, effort,
The "stickiness" in making transactions; the total hassle including time, effort, money, and tax
Analysts who attempt to find under- or overvalued securities by analyzing fundamental information, such as earnings, asset values, and business prospects.
an economy characterized by the international
An accounting statement that summarizes information about a company in the following format:
Financial statement that summarizes sales revenue
This clause in regular life insurance policy provides for voiding the contract of insurance for up to two years from the date of issue of the coverage if the life insured has failed to disclose important information or if there has been a misrepresentation of a material fact which would have prevented the coverage from being issued in the first place. After the end of two years from issue, a misrepresentation of smoking habits or age can still void or change the policy.
The attempt to use information about a specific situation to draw a conclusion.
Trading by officers, directors, major stockholders, or others who hold private inside
These are directors and senior officers of a corporation -- in effect those who have access to inside
This is a telephone interview of the person applying for life insurance conducted by someone from the underwriting department of the insurance company. Some insurance companies only sporadically contact applicants and some contact every applicant. On average the interview lasts between 15 to 30 minutes. The questions asked relate to personal habits (like smoking and alcohol consumption) and finances, including income and net worth, confirmation of employment, duties and the nature of the applicant's business. In addition, there are questions about driving, sports, aviation and currently held insurance. All information obtained is strictly confidential and is submitted solely to the underwriter for review.
the intangible assets of skill, knowledge,
a mechanism for sharing information and delivering data from corporate databases to the local-area network (LAN) desktops
Item master file
A file containing all item-specific information about a component,
job order cost sheet
a source document that provides virtually
Release of information to some persons before official public announcement.
Some insurance companies include this benefit option at no cost to their policy holders. The insurer considers on a case to case basis, the need for insurance funds before death. If the insured can demonstrate a shortened life of less than two years and with some insurers one year, the insurer will consider releasing up to 50% or a maximum of $100,000 of the life insurance coverage held by the insured. Not all insurers offer this benefit for free. The need has resulted in specific stand alone living benefit/critical illness policies coming into existence. Look under "Different types of Life Insurance" for further information. You might have heard of "Viatical Settlements", the practice of seriously ill people selling the rights to their life insurance policies to third parties. This practice is common in the United States but has not caught on in Canada.
In accounting information, one year or greater.
The production of financial and non-financial information used in planning for the future; making decisions about products, services, prices and what costs to incur; and ensuring that plans are implemented and achieved.
a discipline that includes almost
This is difficult to define in a few words—indeed, an
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
Marketplace price efficiency
The degree to which the prices of assets reflect the available marketplace
materials requirements planning (MRP)
a computerbased information system that simulates the ordering and
To seek information about an agent's behavior; a device that provides such information.
Nonsignificant part number
An identifying number assigned to a part that conveys
Notes to the financial statements
A detailed set of notes immediately following the financial statements in
a philosophy about increasing a firm’s performance by involving all workers and by ensuring
The method of trading used at futures exchanges, typically involving calling out the specific
Passive portfolio strategy
A strategy that involves minimal expectational input, and instead relies on
A report on which is summarized the wage and deduction information
Perfectly competitive financial markets
Markets in which no trader has the power to change the price of
A written document that serves as evidence of insurance coverage and contains pertinent information about the benefits, coverage and owner, as well as its associated directives and obligations.
the process of gathering information
The market has already incorporated information, such as a low dividend, into the price of a stock.
Also called external efficiency, a market characteristic where prices at all times fully
Future-oriented financial information prepared using assumptions that reflect the entity's planned courses of action for the period.
Formal written document to sell securities that describes the plan for a proposed business
Formal summary that provides information on an issue of securities.
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