Super Finance Glossary
Over 10,000 financial glossary terms...
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Browsing by the letter "P"
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Phantom Income
Definition: Income from a limited partnership that creates taxability without generating cash flow.
Definition: Income from a limited partnership that creates taxability without generating cash flow.
Phantom Stock Award
Definition: A type of incentive grant in which the recipient is not issued actual shares of stock on the grant date but receives an account credited with a certain number of hypothetical shares. The value of the account increases over time based on the appreciation of the stock price and the crediting of phantom dividends. Payout may be settled in cash or stock.
Definition: A type of incentive grant in which the recipient is not issued actual shares of stock on the grant date but receives an account credited with a certain number of hypothetical shares. The value of the account increases over time based on the appreciation of the stock price and the crediting of phantom dividends. Payout may be settled in cash or stock.
Phantom Stock Plan
Definition: An incentive scheme that awards management bonuses based on increases in the market price of the company's stock.
Definition: An incentive scheme that awards management bonuses based on increases in the market price of the company's stock.
Phase Space
Definition: A graph which shows all possible states of a system. In phase space we plot the value of a variable against possible values of the other variables at the same time. If a system had three descriptive variables, we plot the phase space in three dimensions, with each variable taking one dimension.
Definition: A graph which shows all possible states of a system. In phase space we plot the value of a variable against possible values of the other variables at the same time. If a system had three descriptive variables, we plot the phase space in three dimensions, with each variable taking one dimension.
Philadelphia Board Of Trade (PBOT)
Definition: A subsidiary of the Philadelphia Stock Exchange that trades currency futures.
Definition: A subsidiary of the Philadelphia Stock Exchange that trades currency futures.
Philadelphia Stock Exchange (PHLX)
Definition: A securities exchange trading American and European foreign currency options on spot exchange rates.
Definition: A securities exchange trading American and European foreign currency options on spot exchange rates.
Philippine Stock Exchange
Definition: Established in 1992 through the merger of the Manila Stock Exchange and the Makati Stock Exchange, the Philippines'only securities market.
Definition: Established in 1992 through the merger of the Manila Stock Exchange and the Makati Stock Exchange, the Philippines'only securities market.
Phillips Curve
Definition: A graph that supposedly shows the relationship between inflation and unemployment. It is conjectured that there is a simple trade-off between inflation and unemployment (high inflation and low unemployment, and low inflation and high unemployment). Named after A.W. Phillips. Obviously, the relation between these important macroeconomic variables is more complicated than this simple graph would suggest. For a modern treatment, see work of Robert Lucas.
Definition: A graph that supposedly shows the relationship between inflation and unemployment. It is conjectured that there is a simple trade-off between inflation and unemployment (high inflation and low unemployment, and low inflation and high unemployment). Named after A.W. Phillips. Obviously, the relation between these important macroeconomic variables is more complicated than this simple graph would suggest. For a modern treatment, see work of Robert Lucas.
Phone Switching
Definition: Transferring money between funds in the same mutual fund family by telephone request. There may be a charge associated with these transfers. Phone switching is also possible among different fund families if the funds are held in street name by a participating broker/dealer.
Definition: Transferring money between funds in the same mutual fund family by telephone request. There may be a charge associated with these transfers. Phone switching is also possible among different fund families if the funds are held in street name by a participating broker/dealer.
Physical Asset
Definition: Actual property such as precious metals or real estate. Also called real or tangible assets.
Definition: Actual property such as precious metals or real estate. Also called real or tangible assets.
Physical Completion
Definition: The state in which a project is physically functioning, but not yet fully generating cash flow.
Definition: The state in which a project is physically functioning, but not yet fully generating cash flow.
Physical Option
Definition: An option whose underlying security is a physical commodity that is not stock or futures. The physical commodity itself (a currency, treasury debt issue, commodity) - underlies that option contract. See also index option.
Definition: An option whose underlying security is a physical commodity that is not stock or futures. The physical commodity itself (a currency, treasury debt issue, commodity) - underlies that option contract. See also index option.
Physical Verification
Definition: A procedure auditors use to ensure that inventory recorded in the book is correct by actually checking out the physical inventory.
Definition: A procedure auditors use to ensure that inventory recorded in the book is correct by actually checking out the physical inventory.
Pickup
Definition: The gain in yield that occurs when a block of bonds is swapped for another block of higher-coupon bonds.
Definition: The gain in yield that occurs when a block of bonds is swapped for another block of higher-coupon bonds.
Pickup Bond
Definition: A bond with a relatively high coupon that is close to the date at which it is callable, meaning that a fall in interest rates will most likely cause early redemption of the bond at a premium.
Definition: A bond with a relatively high coupon that is close to the date at which it is callable, meaning that a fall in interest rates will most likely cause early redemption of the bond at a premium.
Picture
Definition: Describes bid and asked prices a broker quotes for a given security. Used for listed equity securities. Bid and ask prices and quantity information from a specialist or from a dealer regarding a particular security (i.e., "IBM's 1/4 to 1/2, 5m by 10m").
Definition: Describes bid and asked prices a broker quotes for a given security. Used for listed equity securities. Bid and ask prices and quantity information from a specialist or from a dealer regarding a particular security (i.e., "IBM's 1/4 to 1/2, 5m by 10m").
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