Examlex
Lower dividend-payout policies have a __________ impact on the value of the call and a __________ impact on the value of the put compared to higher dividend-payout policies.
ΔG°
The change in Gibbs free energy under standard conditions, indicating the spontaneity of a reaction.
Entropy
A measure of disorder or randomness in a system, often associated with the second law of thermodynamics describing the direction of physical processes and energy dispersion.
Randomness
The lack of pattern or predictability in events.
System
A set of interacting or interdependent components forming an integrated whole, often within a scientific or engineering context.
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