U.S. Treasury bill
U.S. government debt with a maturity of less than a year.
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Archive for the 'T Glossary' Category
Two-tier tax system
A method of taxation in which the income going to shareholders is taxed twice.
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Two-state option pricing model
An option pricing model in which the underlying asset can take on only two possible (discrete) values in the next time period for each value it can take on in the preceding time period. Also called the binomial option pricing model.
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Two-sided market
A market in which both bid and asked prices, good for the standard unit of trading, are quoted.
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Two-fund separation theorem
The theoretical result that all investors will hold a combination of the risk-free asset and the market portfolio.
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Two-factor model
Black’s zero-beta version of the capital asset pricing model.
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Turnover
Mutual Funds: A measure of trading activity during the previous year, expressed as a percentage of the average total assets of the fund. A turnover ratio of 25% means that the value of trades represented one-fourth of the assets of the fund. Finance: The number of times a given asset, such as inventory, is replaced during the accounting period, usually a year. Corporate: The ratio of annual sales to net worth, representing the extent to which a company can growth without outside capital. Markets: The volume of shares traded as a percent of total shares listed during a specified period, usually a day or a year. Great Britain: total revenue.
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Turnkey construction contract
A type of construction contract under which the construction firm is obligated to complete a project according to prespecified criteria for a price that is fixed at the time the contract is signed.
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