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<a accesskey="3" href="page.php?w=preferred_stock&amp;p=2">3.Next</a>
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<p><b>Preferred stock</b> (also called <b>preferred shares</b>, <b>preference shares</b>, or simply <b>preferreds</b>) is a component of <a href="page.php?w=share_capital">share capital</a> that may have any combination of features not possessed by <a href="page.php?w=common_stock">common stock</a>, including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument. Preferred stocks are senior (i.e., higher ranking) to common stock but subordinate to <a href="page.php?w=Corporate_bond">bonds</a> in terms</p><p>
<a accesskey="3" href="page.php?w=preferred_stock&amp;p=2">3.Next</a>
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