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conglomerate, in business

(Encyclopedia) conglomerate, corporation whose asset growth, often very rapid, comes largely through the acquisition of, or merger with, other firms whose products are largely unrelated to each other…

amortization

(Encyclopedia) amortizationamortizationămˌərtəzāˈshən, əmôrˈ– [key], reduction, liquidation, or satisfaction of a debt. The term amortization may also refer to the sum used for that purpose. The term…

Hansen, Lars Peter

(Encyclopedia) Hansen, Lars Peter, 1952–, U.S. economist, b. Champaign, Ill., Ph.D. Univ. of Minnesota, 1978. After teaching at Carnegie-Mellon Univ., Pittsburgh (1978–81), he joined the faculty of…

Scholes, Myron Samuel

(Encyclopedia) Scholes, Myron Samuel, 1941–, Canadian-American economist, b. Timmins, Ont., Ph.D. Univ. of Chicago, 1969. He was a professor at the Univ. of Chicago (1968–83) and at Stanford (…

Special Drawing Rights

(Encyclopedia) Special Drawing Rights (SDRs), type of international monetary reserve currency established (1968) by the International Monetary Fund (IMF). Created in response to worries concerning…

exchange-traded fund

(Encyclopedia) exchange-traded fund (ETF), in finance, an investment company that in exchange for the deposit of a portfolio of stocks, bonds, commodities, or other assets issues securities that…

Fama, Eugene Francis

(Encyclopedia) Fama, Eugene Francis, 1939–, 1939–, U.S. economist, b. Boston, Mass., grad. Univ. of Chicago (M.B.A. 1963, Ph.D. 1964). He has taught at the Univ. of Chicago's Graduate School of…

Shiller, Robert James

(Encyclopedia) Shiller, Robert James, 1946–, American economist, b. Detroit, grad. Univ. of Michigan (B.A., 1967), Massachusetts Institute of Technology (S.M., 1968; Ph.D., 1972). A professor at Yale…

What's the Payoff?

When you buy a share in a mutual fund, you're buying both a share in an investment company and a service from that company (or more accurately, the management company that sponsors it). The…