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Concluding Remarks
https://doi.org/10.1142/9789812700971_0010Cited by:0 (Source: Crossref)
Abstract:
The Fisher model provides the foundation for more than a demonstration of the origins of the net present value rule under certainty. The received theory of corporate finance can be posited in the context of the Fisher model under uncertainty as the analysis here has shown. The separation theorems in Chapters 4 and 8 are particularly important because they provide the basis for an endogenous determination of the corporate objective function. The objective function does not need to be and in fact should not be assumed as it so often has been in the literature.
