January 2018
Beginner
976 pages
142h 14m
English
book
Principles of Managerial Finance, 15th Edition
by Scott B. Smart, Chad J. Zutter, Lawrence J. Gitman
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Summary
Focus on Value
A firm’s risk and expected return directly affect its share price. Risk and return are the two key determinants of the firm’s value. The financial manager is therefore responsible for carefully assessing the risk and return of all major decisions to ensure that the expected returns justify the level of risk being introduced.
The financial manager can expect to achieve the firm’s goal of increasing its share price (and thereby benefiting its owners) by taking only those actions that earn returns at least commensurate with their risk. Clearly, financial managers must recognize, measure, and evaluate risk–return tradeoffs to ensure that their decisions contribute to the creation of value for owners.
Review of Learning Goals ...
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