What is channel length modulation in MOSFET?

This video explains the channel length modulation in MOSFET. Why does CLM happens in MOSFET? What is the  effect of CLM on drain current and thereby the output characteristics of MOSFET. It also explains how does current flow due to absence of electrons near the drain.  At the end it briefly explains how does FINFET help to mitigate the effect CLM.

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