L

latency  The time it takes to accept, process, and deliver a trading order.
limited liability  The fact that shareholders have no personal liability to the creditors of the corporation in the event of bankruptcy.
limit order  An order specifying a price at which an investor is willing to buy or sell a security.
listening  An active process of receiving messages sent orally; this process consists of five stages: receiving, understanding, remembering, evaluating, and responding.
load  Sales charge on the purchase of some mutual funds.
long-term orientation A cultural orientation that promotes the importance of future rewards; opposed to short-term orientation.
London Interbank Offered Rate (LIBOR)  Rate that most creditworthy banks charge one another for large loans of Eurodollars in the London market.
looking-glass self  The self-concept that results from the image of yourself that others reveal to you
low-context culture  A culture in which most of the information in communication is explicitly stated in the verbal messages. Individualist cultures are usually low-context cultures. Opposed to high-context culture.
low-power-distance cultures  A culture in which there is little difference in power between groups; for example, between doctors and patients or men and women.
lying The act of deliberately trying to mislead another person by communicating information you believe to be false.