Shell corporation
Definition
An incorporated company with no significant assets or operations, often formed to obtain financing before beginning actual business, or as a front tax evasion.
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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University
Term of the Day
Replacement cost insurance
Insurance that pays out the full amount required to replace damaged property with new property, without taking into account the depreciated value of the property.
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