Define each of the following terms:

a. Proxy; proxy fight; takeover; preemptive right; classified stock; founders’ shares

b. Closely held corporation; publicly owned corporation

c. Secondary market; primary market; going public; initial public offering (IPO)

d. Intrinsic value (ˆP0); market price (P0)

e. Required rate of return, rs; expected rate of return, ˆrs; actual, or realized, rate of return, rs

f. Capital gains yield; dividend yield; expected total return

g. Normal, or constant, growth; supernormal, or non-constant, growth; zero growth stock

h. Equilibrium; Efficient Markets Hypothesis (EMH); three forms of EMH

i. Preferred stock