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Superglossary - Finance Category: Economy and Finance > Finance Date & country: 16/12/2013, USA Words: 5410

Intermediation
Investment through a financial institution. Related

Internal Auditor
An employee of a company who analyzes the company's accounting records to that the company is follow

Internal Expansion
Growth of assets resulting from internal financing or internally generated cash flow.

Internal Finance
Finance generated within a firm by retained earnings and depreciation.

Internal Growth Rate
Maximum rate a firm can expand without outside sources of funding. Growth generated by cash flows re

Internal Market
The mechanisms for issuing and trading securities within a nation, including its domestic market and

Internal Measure
The number of days that a firm can finance operations without additional cash income.

Internal Rate Of Return (IRR)
Dollar-weighted rate of return. Discount rate at which net present value (NPV) investment is zero. T

Internal Revenue Code
The various statutes and regulatilons making up federal tax law.

Internal Revenue Service (IRS)
The federal agency responsible for the collection of federal taxes, including personal and corporate

International Arbitrage
Simultaneous buying and selling of foreign securities and A.D.R.s to capture the profit potential cr

International Bonds
A collective term that refers to global bonds, Eurobonds, and foreign bonds.

International Diversification
The attempt to reduce risk by investing in more than one nation. By diversifying across nations whos

International Finance Subsidiary
A subsidiary incorporated in the U.S., usually in Delaware, whose sole purpose once was to issue deb

International Fisher Effect
States that the interest rate differential between two countries should be an unbiased predictor of

International Fund
A mutual fund that can invest only outside the United States.

International Market
Related

International Market Index
An index listed on the American Stock Exchange tracking the performance of 50 American Depository Re

International Monetary Fund (IMF)
An organization founded in 1944 to oversee exchange arrangements of member countries and to lend for

International Mutual Fund
A mutual fund that invests strictly in securities markets throughout the world, excluding the United

Interpolation
A method of approximating a price or yield that is unknown by using numbers that are known.

Interpositioning
The practice of using a second broker in a securities transaction, which is considered illegal it is

Intracommodity Spread
Used in the context of futures trading to refer to a trader holding, buying, and selling contracts i

Intraday
Term meaning 'within the day,' often to refer to the high and the low price of a stock.

Intramarket Sector Spread
The spread between two issues of the same maturity within a market sector. For instance, the differe

Intrastate Offering
A securities offering limited to just one state in the United States.

Intrinsic Value Of A Firm
The present value of a firm's expected future net cash flows discounted by the required rate of retu

Intrinsic Value Of An Option
The amount by which an option is in the money. An option that is not in the money has no intrinsic v

Inventory
Goods purchased or manufactured by a business and held for production or sale. Inventory is often su

Inventory
For companies

Inventory Financing
Used in the context of factoring and general finance to refer to loans to consumer product producers

Inventory Loan
A secured short-term loan to purchase inventory. The three basic forms are a blanket inventory lien,

Inventory Targets
The numbers of months of inventory that the user requires to be in stock at a given point in time. F

Inventory Turnover
The ratio of annual sales to average inventory, which measures the speed at which inventory is produ

Inventory Turns
The ratio of annual cost of sales to inventory, commonly used as a rough measure of inventory manage

Inverse Floater
A derivative instrument whose coupon rate is linked to the market rate of interest in an inverse rel

Inverse Floating-Rate Note
A variable-rate security whose coupon rate increases as a benchmark interest rate declines.

Inverted Market
A futures market in which the nearer months are selling at price premiums to the more-distant months

Inverted Scale
A serial bond offering whose bonds with earlier maturity dates have higher yields than bonds with la

Inverted Yield Curve
When short-term interest rates are higher than long-term rates. Antithesis of positive yield curve.

Investment
The expenditure of cash to create additional capital. Investment can be in income-producing vehicles

Investment
The creation of more money through the use of capital.

Investment Advisers Act
Legislation passed in 1940 requiring financial advisers to register with the Securities and Exchange

Investment Advisory Service
A business that specializes in providing investment advice for a fee. All advisers of an advisory se

Investment Analysts
Related

Investment Bank
Financial intermediaries who perform a variety of services, including aiding in the sale of securiti

Investment Certificate
A document that serves as proof that an individual has an investment in a savings and loan associati

Investment Climate
Factors such as economic, monetary, and other conditions that affect the performance of investments.

Investment Club
A group of people who combine their money into a larger pool, then invest collectively in stocks and

Investment Company
A firm that that invests the funds of investors in securities appropriate for their stated investmen

Investment Company Act Of 1940
Legislation that requires investment companies to register with the SEC and that outlines standards

Investment Decisions
Decisions concerning the asset side of a firm's balance sheet, such as the decision to offer a new p

Investment History
The history of a member firm that establishes certain norms in respect of its investment practice.

Investment Income
The revenue from a portfolio of invested assets.

Investment Letter
A letter of intent between the issuer of new securities and the buyer, in the private placement of t

Investment Management
The process of managing money. Also called portfolio management and money management.

Investment Manager
The individual who manages a portfolio of investments. Also called a portfolio manager or a money ma

Investment Objective
The financial objective of an investor. Whether the investor requires income or capital appreciation

Investment Philosophy
The style and general ideology of investment practiced by an investor. Certain investors favor small

Investment Product Line (IPL)
The line of required returns for investment projects as a function of beta (nondiversifiable risk).

Investment Software
Computer software that helps investors make investment decisions by identifying situations that meet

Investment Strategy
A strategy, or plan of attack, an investor uses when deciding how to allocate capital among several

Investment Strategy Committee
A committee within a brokerage firm that conducts research and makes recommendations on the firm's s

Investment Tax Credit
Proportion of new capital investment that could be used to reduce a company's tax bill (abolished in

Investment Trust
A closed-end fund regulated by the Investment Company Act of 1940. These funds have a fixed number o

Investment Value
Applies mainly to dealer securities. Fixed income value of a convertible, the price at which the con

Investment-Grade Bonds
A bond that is assigned a rating in the top four categories by commercial credit rating companies. S

Investments
As a discipline, the study of financial securities, such as stocks and bonds, from the investor's vi

Investor
The owner of a financial asset.

Investor Fallout
In the mortgage pipeline, risk that occurs when the originator commits loan terms to the borrowers a

Investor Relations
The process by which the corporation communicates with its investors.

Investors Equity
The balance of a margin account. Related

Investors Service Bureau
NYSE service that deals with all general inquiries concerning securities investments.

Invoice Billing
Billing system in which invoices are sent off at the time of customer orders and are all separate bi

Invoice Date
Usually the date when goods are shipped. Payment dates are set relative to the invoice date.

Invoice Price
The price that the buyer of a futures contract must pay the seller when a Treasury bond is delivered

Involuntary Liquidation Preference
A premium that must be paid to preferred or preference stockholders if the issuer of the stock is fo

IRA-Keogh Accounts
Special accounts that allow saving taxes deferred until money is withdrawn. These plans are subject

Irrational Call Option
The implied call imbedded in a MBS. Irrational because the call is sometimes not exercised when it i

Irredeemable Bond
A bond lacking a call feature or a right of redemption. Also refers to a perpetual bond.

Irrelevance Result
The Modigliani and Miller theorem that a firm's capital structure is irrelevant to the firm's value.

Issue
A particular financial asset.

Issued Share Capital
Total amount of shares that have been issued. Related

Issuer
An entity that puts a financial asset in the marketplace.

Italian Derivatives Market (IDEM)
A derivatives market operated by the Italian Stock Exchange Council. It trades futures and options o

Italian Stock Exchange (ISE)
The Milan-based stock exchange, which came into effect after the unification of Italy's ten national

Itemized Deduction
Specific deductions allowed by the IRS outlined in the tax return.

Its Us,
Used in the context of general equities. 'The firm, and not a customer, is the party involved.'

January Barometer
A statistic from 'The Stock Traders Alamanac' reflecting, with 88% accuracy, that the overall stock

January Effect
Refers to the historical pattern that stock prices rise in the first few days of January. Studies ha

Jensen Index
An index that uses the capital asset pricing model to determine whether a money manager outperformed

Jobber
A term for a market maker used on the London Stock Exchange.

Johannesburg Stock Exchange (JSE)
Established in 1886, the Johannesburg Stock Exchange is the only stock exchange in South Africa. Gol

Joint Account
An agreement between two or more firms to share risk and financing responsibility in purchasing or u

Joint And Survivor Annuity
A type of annuity opened by and intended for two people, that makes payments for the entire lifetime

Joint Bond
A bond that is guaranteed by the issuer and a party other than the issuer.

Joint Clearing Members
Firms that clear on more than one exchange.

Joint Stock Company
A form of business organization that falls between a corporation and a partnership. The company sell

Joint Tax Return
Tax return filed by two people, usually spouses.

Joint Venture
An agreement between two or more firms to undertake the same business strategy and plan of action.