GLOSSARY
‘A’ shares Sometimes the ‘A’ shares are the ordinary shares that carry fewer or no votes. However, in many companies ‘A’ shares carry more votes than the ‘B’ shares. The shares may also differ with regard to the size of dividend.
Abandon The choice made by a holder of a warrant or option to allow it to expire without exercise.
Abnormal return (residual return) A return greater than the market return after adjusting for differences in risk.
Absolute advantage A firm, person, organization or country has an absolute advantage if it can obtain a benefit at a lower cost than other firms, people, organizations or countries. For example, Costa Rica has an absolute advantage in growing bananas vis-à-vis Europe.
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