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The Approach of This Study O
Test of the Theory
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amount of uncertainty assumed assumption bear uncertainty bond funds borrowing or lending business investment business profits capital budgeting capital gains capital market investment capital market theory capital structure common stock concerning considered correlation coefficient cost of capital denoted derived deviation of ownership differences among investor discount factors discount rate diversification dividends dollar invested effects efficient portfolio structure equal estimates evaluated expected profit expected value firm folio given time horizon growth funds growth stocks implications increase indifference curve investor expectations investor portfolios market value Markowitz measure mutual funds number of investors outcomes of ownership owners perfectly correlated period personal income tax port portfolio analysis present value probability distribution rate of return ratio risk preferences risk-free borrowing risk-free debt risk-free interest rates security prices serial correlation standard deviation stockholders structured portfolios tax cash flows uncertain ownership profit uncertain securities uncertainty of business utility function variables vestors zero