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In their research in the mid-1970s, what procedure did researchers Schmidt and Hunter use to challenge the idea that a validity coefficient was specific to the context in which it was measured?
Zero-Coupon Bond
A debt security that doesn't pay interest (a coupon) but is traded at a deep discount, offering profit at maturity when the bond is redeemed for its full face value.
Duration
A measure of the sensitivity of the price of a bond or other debt instrument to changes in interest rates.
Yield To Maturity
The total return anticipated on a bond if it is held until the date it matures, including all payments of principal and interest.
Immunization
A strategy that matches durations of assets and liabilities so as to make net worth unaffected by interest rate movements.
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