FRANCO MODIGLIANI
An Italian-American Keynesian economist. Modigliani was born in 1918 in Rome and won the Nobel Memorial Prize in Economics in 1985. One of Modigliani's contributions to economics was the life-cycle theory, which says that individuals primarily save money during their early years to pay for their later years, not to pass on wealth to their children. His other major contribution, in cooperation with Merton Miller, was the Modigliani-Miller theorem, which formed the foundation for capital structure analysis in corporate finance.
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Concentration Ratio
Ratio indicating the relative size of companies in respect to their industry in general. Low concentration ratio denotes higher competition among t ...
Back-To-Back Letters Of Credit
Two letters of credit (LCs) utilized together to aid a merchant in financing the buying of services or equipment from a subcontractor. With the aut ...
Stock Market Crash of 1987
Rapid and one of the most severe downturn in stock prices which took place on October 19, 1987. Following five days of intensifying stock market pl ...
Z-Score
“Z-Score” is a statistical measurement showing the relationship of the score to the mean. It can be positive or negative, which means t ...
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The total cost of an option.
The difference between the higher price paid for a fixed-income secur ...
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