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FINANCIAL DICTIONARY & GLOSSARY: OV - PA
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overdue - owing, late in being paid.

overextended - describes a business owing fat more than the value of its current assets.

overheads (GB) or overhead (US) - the various expenses of operating a business that can't be charged to any one product, process or department.

overheating - economic expansion at a rate that cannot be sustained.

overproduction - when supply exceeds demand, which soon leads to cutbacks in production, unemployment, and a recession.

oversubscribed (of a new share issue) - one for which there are more buyers than shares available.

overtime - time worked in excess of an agreed number of bouts per day or week.

over-the-counter market - stock exchange for newer and smaller companies, and those that do not wish to meet all the major stock exchanges' rules.

overtrading - a situation where a company tries to produce and sell goods with too little capital.

owe - to have an obligation to pay or repay money.

own - to have or possess.

paid-in surplus - see share premium.

paid-up capital - share capital that has actually been subscribed by shareholders.

parent company - one that owns at least 50% of the ordinary shares of a subsidiary company.

parity - another term for an exchange rate, or for par value.

participation certificates - grants its holder part of the ownership (equity) of a company, but without voting rights.

partnership - a business run collectively by two or more individuals, Who share risks and profits.

par value - see nominal value.

patent - the exclusive right given to an inventor to produce, or to authorize others to produce, a new product or process.

pay - money earned by employees for work performed, in the form of wages or salary.

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