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FINANCE IN A CERTAINTY WORLD
Creating Wealth by Investing in Productive Opportunities
Investment and Financing Decisions
17 other sections not shown
assets assume assumptions bonds borrowing calculations capital structure CAPM cash flows certainty equivalent Chapter consider consumer consumption contingent claims contingent strategies cost of capital criterion debt determined discussed distribution E(fj earnings economic effects efficient equity estimates example expected return expected utility expected value Fama Figure financial management financial markets financing decisions firm firm's market value funds future Hence income increases indifference curves individual interest rate internal rate investment decisions investors involved issue Journal of Finance lottery marginal market imperfections market portfolio market price market rate maximize obtain optimal option owners payoffs perfect capital market perfect market period possible preferences present value probability problem production purchase rate of interest rate of return required rate result risk aversion risk-free rate risk-return riskless risky securities security market line share price standard deviation Suppose theory tion transactions costs uncertainty unsystematic risk utility function