What is 'Lady Godiva Accounting Principles - LGAP' A theoretical set of accounting principles under which corporations would have to fully disclose all information, including that which often doesn't get reported to investors under generally accepted accounting...
What is 'Layered Fees' Two sets of management fees that are paid by an investor for the same group of assets. This practice is found in many types of investment vehicles such as wrap funds, variable annuities,...
DefinitionIn microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, in a competitive market, the unit price for a particular good, or other traded item such as...
DefinitionA lease option is a type of contract used in both residential and commercial real estate. In a lease-option, a property owner and tenant agree that, at the end of a specified rental period for a given property, the...
What is 'Lambda'
The ratio of the percentage change in an option contract's price to the percentage change in the option's underlying price. Lambda is one of the Greeks – a collection of risk measures or risk sensitivities that are...
Definition
A will or testament is a legal document by which a person, the testator, expresses their wishes as to how their property is to be distributed at death, and names one or more persons, the executor, to manage the...
What does 'Large Cap - Big Cap' mean Large cap (sometimes "big cap") refers to a company with a market capitalization value of more than $10 billion. Large cap is a shortened version of the term "large...
DefinitionThe law of one price constitutes the basis of the theory of purchasing power parity, an assumption that in some circumstances it would cost exactly the same number of, for example, US dollars to buy euros and then to...
What is 'Land Flip' A fraudulent practice in the real estate business of selling undeveloped land at highly inflated prices. A land flip occurs when a group of dishonest buyers trades the land among its members, increasing...
What is Lancaster University Management School (LUMS)?
Established in 1965, Lancaster University Management School (LUMS) is a leading business school located in the North West of England. We are part of Lancaster University, a world-class institution with an excellent reputation...