Modigliani And Miller Proposition I: A proposition by Franco Modigliani and Merton Miller that states that a firm cannot change the total value of its outstanding securities by changing its capital structure proportions. Also called the irrelevance proposition.

 

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Modigliani And Miller Proposition I: A proposition by Franco Modigliani and Merton Miller that states that a firm cannot change the total value of its outstanding securities by changing its capital structure proportions. Also c . . . View Full Definition

Percussion Instrument: Instrument made of metal, wood, stretched skin or other material that is made to sound by striking, shaking, scraping or plucking. The many varied percussion instruments fall into two basic . . . View Full Definition

Percolation Test Or Perc. Test: Tests that a soil engineer performs on earth to determine the feasibility of installing a leech field type sewer system on a lot. A test to determine if the soil on a proposed building lot i . . . View Full Definition

Percolation Test: A test of the soil to determine if it will absorb and drain water adequately to use a septic system for sewage disposal.

Percolation: 1) The movement of water downward in a circular direction through subsurface soil layers, usually continuing downward to ground water. Can also involve upward movement of water. 2) Slow seep . . . View Full Definition

Perdin: Tablegrape of unknown pedigree grown and occasionally used for making homemade white wines by home gardeners of Paris, France.

Peregrine: From the Latin peregrinus, foreigner. Said of a planet that does not occupy a sign of essential dignity or debilitation and is not in mutual reception with any other planet. A peregrine plan . . . View Full Definition

Perfect Competition: An idealized market environment in which every market participant is too small to affect the market price by acting on its own.

Perfect Capital Market: A market in which there are never any arbitrage opportunities.

Perennials: Plants that persist in the environment for more than one year (as in the case of annuals).