Предметный указатель стр 1
buyout (МВО), 1072 Managerial entrenchment
hypothesis, 1058
real options, 615 Marginal rate, 67 Market portfolio, 202
per share, 931
risk premium, 210
value, 152 Marketmaker, 873 Market-to-book value ratio, 214 Maturity, 89
bond, 153; 910 Medium-term note (MTN), 958 Merger, 1034 Merrill Lynch, 959 Microsoft, 822 Money market, 79
banker's acceptances (Bas), 418
commercial paper, 418
credit, 500
eurodollars, 420
federal agency securities, 417
instruments, 415
mutual funds ( M M F s ) , 424
negotiable certificate of deposit (CD), 420
preferred stock ( M M P ) , 421
preferred stock ( M M P ) , 421
short-term municipals, 421
treasury bills (T-bills), 416
treasury bonds, 416
treasury notes, 416 Moody's Investors Service, 87; 911 Mortgage, 914
bankers, 84
bond, 914 Multifactor models, 215 Multinational company, 1107 Mutually exclusive project, 578
N
National Association of Securities Dealers Automated Quotation Service - NASDAQ, 85; 931
Natural hedge, 1117
Negative pledge clause, 912; 962
Negotiable certificate of deposit (CD), 420
Net float, 398
lease, 965
period, 493
present value (NPV), 573
working capital, 363 Netting, 1121
New York Stock Exchange, 897 Nominal interest rate, 128 Nonconventional investment
project, 585 North American Industry Classification
System (NAICS), 685 Note, 909 Notes payable, 492 NPV profile, 575
О
Open accounts, 492 Operating
cycle, 266
income, 76
l e a s e , 966
leverage, 723 Opportunity cost, 111; 543 Optimal capital structure, 781 Option, 1013
to abandon, 638
to expand (or contract), 638
to postpone, 638
writer, 1014 Order point, 468 Ordering costs, 463 Ordinary annuity, 116 Organized exchanges, 897 Outsourcing, 407; 1062 Outstanding shares, 929 Overseas Private Investment
Corporation (OPIC), 1109 Oversubscription privilege, 879 Over-the-counter (OTC) market,
84; 897
P
Par value
for bond, 909
of common stock, 929 Participating preferred stock, 923 Partnership, 62 Payable turnover (PT) ratio, 263
in days (PTD, 263 Payback period (PBP), 568
Payment date, 850 Permanent working capital, 369 Perpetuity, 120 Poison pill, 1059 Portfolio, 197 Post-completion audit, 593 Preauthorized debit, 391 Preemptive right, 875 Preferred stock, 159
cumulative dividends feature, 923
defined, 922
participating feature, 923 Premium
bond, 156
buy-back offer, 1060
over conversion value, 997; 1004 Prepackaged bankruptcy
(prepack), 1083 Present value, 111 Price/earnings ratio, 214 Primary market, 79; 869 Prime rate, 507 Principal, 104 Private (or direct) placement, 889
placement, 871
placement w i t h registration rights, 891 Privileged subscription, 875 Probability distribution, 191
tree, 622 Processing float, 389 Profit
maximization, 40 Profitability index ( P I ) , 577
ratios, 272 Promissory note, 965 Prospectus, 882 Protective covenants, 910 Proxy, 932 Public issue, 870
Purchasing-power parity ( Р Р Р ) , 1129 Pure play, 1067 Put option, 1014
Q
Qualified institutional buyers
(QIB), 891 Quantity discount, 493
R
Rate of return on investment ( R O I ) , or
return on assets, 273 Ratios
income statement and income statement/balance s h e e t
activity ratios, 260
coverage ratios, 258 Ready cash segment, 412 Recapitalization, 780 Receivable turnover (RT) ratio, 260
turnover in days ( R T D ) , 261 Record date, 849 Red herring, 882 Refunding, 938 Registration statement, 882 Regular dividend, 832 Reinvoicing center, 1120 Relative dispersion (risk), 195 Reorganization, 1079 Repurchase agreements, 416 Residual value, 966 Return
defined, 189
expected, 190
standard deviation, 192 Return on Equity (ROE), 274 Reverse
stock split, 840
synergy, 1035 Revolving credit agreement, 506; 957 Right, 876; 1008 Rights offering, 875 Risk
aversion, 196; 197
certainty equivalent (CE), 196
defined, 190
expected return, 191
indifference, 196
preference, 196
premium, 196
probability distribution, 191
standard deviation, 192
systematic, 200
unsystematic, 201
variance, 192 Risk-adjusted discount rate
(RADR), 692 Roll-up, 1046
Sale and leaseback, 967
Samurai bonds, 1123
Seasonal dating, 445; 494
Second mortgage, 915
Secondary market, 79; 84; 869; 897
Secured loans, 503
Securities Act of 1933, 882
Securities and Exchange Commission
(SEC), 882 Securities Exchange Act of 1934, 882 Security market line (SML), 207 Security, collateral, 511 Sell-off, 1035; 1065 Semistrong-form efficiency, 216 Sensitivity analysis, 590 Serial bonds, 919 Shareholders' equity, net worth, 239
interest hypothesis, 1058 Shelf registration, 874 Short-term municipals, 421 Sight draft, 1134 Simple interest, 104 Simulation, 627 Sinking fund, 121; 918 Small-firm effect, 214 Society of Worldwide Interbank
Financial Telecommunications
(SWIFT), 404 Sole proprietorship, 61 Speculative grade, 88 Spin-off, 1035; 1065 Spontaneous, 491
financing, 371
trade liabilities, 491 Spot exchange rate, 1110 Stagger the terms of boards of
directors, 1058 Stakeholders, 45
Standard & Poor's ( S & P ) , 911; 87 Standard & Poor's 500 (S&P 500), 202 Standard deviation, 192; 618 Standby arrangement, 879 Standstill agreement, 1060 Stock dividend, 833 Stock repurchase, 841
Dutch-auction, 842
fixed-price, 842
open-market purchase, 842
self-tender offer, 842
Stock s p l i t , 835 Stockout, 265 Stocks
ex-dividend, 850 Straight bond value, 1002
debt, 995 Strategic acquisition, 1038
alliances, 1061 Strong-form efficinecy, 216 Subordinated
bonds, 997
debenture, 912
price, 1008
right, 876 Subsidiary, 687 Supermajority merger approval
provision, 1058 Sustainable g r o w t h rate — SGR, 338 Symbol ticker, 1065 Synergy, 1034 Systematic risk, 200 S-корпорация, 77
T
Takeover, 1044
Tax perference item, 970
shield, 791 Taxes
double taxation, 65 Temporary working capital, 369 Tender offer, 1056 Term
loans, 955
structure of interest rates, 89 Terminal warehouse receipt, 518 Ticker symbol, 210 Time draft, 1134
value of money, 52; 1 0 3 Times interest earned, 749 Timing, 797
Tombstone advertisement, 885 Total [or combined] leverage, 746
a s s e t turnover, 270
capitalization, 258
firm risk, 745
value principle, 818 Trade credit, 492
acceptances, 492
discount, 493
liabilities, 491
notes payable, 492
open accounts, 492 Transactions exposure, 1112 Translation exposure, 1112 Treasurer, 49 Treasury
bills (T-bills), 416
bonds, 416
notes, 416
stock, 847; 929 Trust receipt, 517 Trustee, 910
Two-tier tender offer, 1057
U
Underwriter, 872; 1009 Underwriting, 872
competitive bid, 872
negotiations, 872
spread, 871
syndicate, 872 Underwritten Rule 144a, 892 Undue retention, 826 Uniform Commercial Code, 512 Unsecured loans, 503 Unsystematic risk, 201
Valuation, 52
conversation to an earnings multiplier approach, 163 Value, 151
book, 152
concepts o f , 1 5 1
going-concern, 151
intrinsic, 152
liquidation, 151 Variance, 192; 619 Variance-covariance matrix, 220 Venture capital, 892 Vertical merger, 1035 Virtual corporation, 1062 Volatility, 1001
W
Wall Street Journal, 918 Weak-form efficiency, 216 Weighted average cost of capital (WACC), 674
White knight, 1057 Wire transfer, 396 Working capital management, 363 requirement, 960 WorldCom, 457; 823
Yankee bonds, 1123 Yankee commercial paper, 419 Yield, 166 to maturity (YTM), 166
Zero balance account (ZBA), 401 Zero-coupon bond, 157; 909
ABC-метод управления товарно-материальными запасами, 462 Автоматизированная расчетная
палата (АРП), 395 Агентство международного
развития, 1109 Аккредитив, 502; 1136 Активы, 238
балансовая стоимость, 152
действительная (внутренняя) стоимость, 152
ликвидность, 255
реальные, 78
рыночная стоимость, 152
стоимость, 151
учет при инвестиционной аренде, 981
финансовые, 78 Акцептованный торговый
вексель, 493 Акции
выкупленные, 847 дивидендная доходность, 172 доходность от прироста капитала, 172
исключая дивиденды, 850
находящиеся в обращении, 929
не зарегистрированные на бирже, 893
недооцененные, 212
обыкновенные
переоцененные, 212