Asset substitutionOccurs when a firm invests in assets that are riskier than those that the debtholders expected.
No SubstitutionNo Substitution
Within the text on a proxy card are the words: "The shareholder appoints certain people (collectively, the proxy committee) with full power of substitution to vote the shares." If the security holder strikes out this phrase, the proxy cannot be voted if there is a change in the designated proxy committee.
Substitution swapSubstitution swap
A swap in which a money manager exchanges one bond for another bond that is similar in terms of coupon, maturity, and credit quality, but that offers a higher yield.
Import substitution development strategyImport substitution development strategy
A development strategy followed by many Latin American countries and other LDCs that emphasize import substitution-accomplished through protectionism-as the route to economic growth.
Constant elasticity of substitution functionConstant elasticity of substitution function
See CES function
Marginal rate of substitutionMarginal rate of substitution
In a production function or a utility function, the ratio at which one argument (input) substitutes for another along an isoquant or indifference curve.
Further SuggestionsElasticity of substitution
Same day substitution