TOBIN RATIO Definition

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TOBIN RATIO see MARKET TO BOOK VALUE.

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STATUTORY LIEN is an involuntary lien, which is created by law rather than by contract. Statutory liens include tax liens, judgment liens, mechanics liens, etc.

FIXED INCOME is any type of investment that yields a regular (fixed) payment. For example, if you borrow money and have to pay interest once a month, you have issued a fixed income security. When a company does this, it is called a bond (although preferred stock is also sometimes considered to be fixed income). The term fixed income is also applied to peoples income which is invariant each period. This could include income derived from fixed income investments such as bonds and preferred stocks or pensions that guarantee a fixed income. See NON-FIXED INCOME.

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