Fungibility


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Fungibility

The substitutability of listed options, which is dependent upon their common expiration dates and strike prices. The congruence of expiration dates and strike prices lets investors close positions by offsetting transactions through the options clearing corporation.

Fungibility

The state of being interchangeable. For example, money has fungibility because there is no difference between one dollar and another dollar. Likewise, stocks of the same type in the same company and commodities of the same quality are generally fungible. On the other hand, assets like land or baseball cards are not fungible because each unit has unique qualities that add or subtract value.
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Time and again, in cases involving state aid for parochial schools, the disagreement over whether to conceptualize the aid money as public or private boils down to the question of "incentive." In the same way, discourse over whether to conceive of the aid's purpose as public or private resolves itself into the issue of "fungibility."
We discussed three ways to expand the fungibility of identical cash flows and the substitutability of nearly identical liabilities.
Researchers in higher education finance likely have neglected fungibility issues based on McPherson's and Schapiro's comment that when looking at the relationship between federal and institutional aid, "potential offsets are not important factors."(6) The comment was not accompanied by an explanation as to why their evidence did not fit their theory, only a statement that the issue deserves more systematic treatment.
The weights account for the differential impact on consumption of assets of varying fungibility. (8) The model was scrutinized using a large suite of misspecification tests.
The Fungibility model hypothesizes that a categorical grant recipient's effective post-grant budget constraint is unknown a priori and must therefore be estimated.
The fungibility argument has long been the justification for attacks against the U.S.
Conversion of shares into IDRs under the Fungibility Programme remains available on a continuous basis, the bank added.
If that happens will it create a fungibility issue for Nasdaq Dubai when companies listed go for secondary listings on other international exchanges?
In addition, the secondary share listings on Nasdaq Dubai that have full fungibility with their listings on other exchanges will remain in place.
(64) A second criterion for determining compliance involves the "fungibility rule," which is set forth in Section 310(c) of the 1974 act.
Fungibility, Liquidity, and Quantification of Economic Value
The fungibility approach recognizes that all activities require funds and their use, and that management has a great deal of flexibility as to source and use.