tailieunhanh - dictionary of finance and investment terms 5th edition phần 7

phòng thanh toán bù trừ hàng hóa quốc tế International Commodities Clearing House Sở thanh toán bù trừ Hàng hóa Quốc tế London clearing house Phòng thanh toán bù trừ Luân Đôn out clearing gởi đi thanh toán bù trừ | previous page page_443 next page Page 443 PERCENTAGE ORDER order to a securities broker to buy or sell a specified number of shares of a stock after a fixed number of these shares have been traded. It can be a Limit order or a MARKET ORDER and usually applies to one trading day. PERCS acronym for preferred equityredemption cumulative stock. A form of preferred stock that allows common shareholders to exchange common stock for preferred shares thereby retaining a high dividend rate. PERCS usually have little appreciation potential however. PERFECT COMPETITION market condition wherein no buyer or seller has the power to alter the market price of a good or service. Characteristics of a perfectly competitive market are a large number of buyers and sellers a homogeneous similar good or service an equal awareness of prices and volume an absence of discrimination in buying and selling total mobility of productive resources and complete freedom of entry. Perfect competition exists only as a theoretical ideal. Also called pure competition. PERFECT HEDGE see HEDGE HEDGING. PERFORMANCE BOND surety bond given by one party to another protecting the second party against loss in the event the terms of a contract are not fulfilled. The surety company is primarily liable with the principal the contractor for nonperformance. For example a homeowner having a new kitchen put in may request a performance bond from the home improvement contractor so that the homeowner would receive cash compensation if the kitchen was not done satisfactorily within the agreed upon time. PERFORMANCE FEE see INCENTIVE FEE. PERFORMANCE FUND MUTUAL FUND designed for growth of capital. A performance fund invests in high-growth companies that do not pay dividends or that pay small dividends. Investors in such funds are willing to take higher-than-average risks in order to earn higher-than-average returns on their invested capital. See also growth sTock performance stock. PERFORMANCE STOCK high-growth stock .