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The secondary market is a market where the investor purchases a security from another investor rather than from the issuing corporation. This market is secondary because the trading takes place after the issuer sells its securities to investors in the primary market. Due to this feature, the secondary market is also called as 'After Market'.
The securities traded in this market are of two types -
(i) On-the-run treasury securities; and
(ii) Off-the-run treasury securities.
On-the-run treasury securities are the most recently issued treasury securities and are traded at a higher price when compared to that of 'off-the-run securities'.
Off-the-run treasury securities are the treasury securities issued at previous auctions with nearly identical terms to maturity. In other words, when a treasury security of any maturity is issued, then the previously issued security with the same maturity becomes off-the-run treasury. These securities are less frequently traded, less expensive and carry slightly higher yield.
Secondary Market is vital for any efficient market because it adds high liquidity and transparency.
Q. Determine Earnings per share? Current earnings per share = 100 × (4550 - 225)/ 5000 = 86.5 cents Earnings per share after one year = 100 × (4508 - 225)/ 5000 = 85.7 cents
It is a phrase referring to the tendency of departments to become isolated from one another in a functionally structured company.
a) Gross profit = $500,000 and Expenses = $100,000 for Year 2. b) Year 2 GPM = $500k / $1,000k = 50.0% Year 1 GPM = $400k / $850k = 47.05% Year 2 NPM = $400k / $1,000k =
Explain the four fundamental rights of ownership A shareholder, by virtue of being an owner, is generally entitled to four fundamental rights of ownership: 1. Claim on a sha
What are retained earnings? Why are they important? Retained earnings represent the total of all the earnings available to common stockholders of a business during its complet
Lease A lease is a contractual arrangement allowing one party the use of some exact assets for a specific times period in exchange for a payment it is same as a rental arrangem
It is not easy to determine the theoretical value of non-treasury securities. However, we can use the treasury spot rate for the valuation of non-treasury security.
i want some presentation slides of this chapter from page 570 to 580
How are financing costs generally incorporated into the capital budgeting analysis process? Financing costs are typically captured in the discount or hurdle rate when doing IRR
The following guidelines are applicable for the issue of Fully Convertible Debentures (FCDs), Partly Convertible Debentures (PCDs) and Non-conve
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