English

In general, doubt with regard to the occurrence of expected circumstances; incertitude: doubt as a state of being unsure of something; lack of clarity. – In economics, in particular, a danger in which – the distribution of the consequences of possible actions is unknown and – therefore cannot ultimately be satisfactorily calculated mathematically – and… read more »

The incorporation of one company into another (the purchase of controlling majority in one company by another firm, in order to take over assets and/or operations) – See Mergers and Acquisitions, Deadwood, Takeover Offer. – Cf. Annual Report 2012 of BaFin, p. 196 f. (EU Takeover Directive; individual cases, p. 199: decisive offer conditions) as… read more »

In the language of the supervisory authority, the group of factoring and leasing companies. – Cf. Annual Report 2012 of BaFin, p. 157 f. (designation; composition of the group, supervisory action). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk,… read more »

In relation to the financial market, a statistical measure of the risk of a particular individual investment or portfolio. It is roughly calculated from the deviation of the individual respective returns from the average return – calculated according to various approaches – within a given period. High variance means high risk (a statistical tool measuring… read more »

Special type of asset-backed securities, a non-significant proportion of which are now privately placed in the euro area. These are securities issued by special purpose vehicles, where the special purpose vehicle in turn has bonds issued by corporations or banks [collateralized bond obligation] or bank loans [collateralized loan obligation] in its portfolio (debt securities issued… read more »

Often said by financial journalists in reference to a very large amount (an exceedingly large quantity of money: scads); the prefix “un-” is used here not for negation but for intensification-as in unthunderstorm, unquantity, uncost, unmass, shallowness. – See million grave, rat money, ungoods. Attention: The financial encyclopedia is protected by copyright and may only… read more »

Unless otherwise defined, the sum of market capitalization and interest-bearing debt less cash and cash equivalents (the market value of the shareholders’ equity). [share market capitalization if a company is quoted] plus the market value of the net financial debt). – In the case of unlisted companies, the value of equity or the market value… read more »

In statistics, the ratio of vacancies to the labor force. – See unemployment rate, two-pillar principle. – Cf. ECB Monthly Bulletin of February 2002, pp. 33 f. (information content of the vacancy rate for monetary policy), ECB Monthly Bulletin of October 2010, pp. 52 f. (time series for the vacancy rate in the euro area)…. read more »

The dependence of the price movement of an option on the volatility of the underlying (the rate of change in the derivative of the theoretical value of the option vis-à-vis implied volatility. All he factors being equal, the closer an option is to being in the money, the greater is the impact of an increase… read more »

A term frequently used by banks for the value date of entries, i.e. the date from which a credit or debit is made or interest calculation begins (the date when the entry to an account is considered effective resp. an interest calculation begins). – According to the terms and conditions of many banks, interest is… read more »