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Optimal Dynamic Investment Policies of a Value Maximizing Firm (Paperback, Softcover reprint of the original 1st ed. 1989) Loot Price: R1,878
Discovery Miles 18 780
You Save: R100 (5%)
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Optimal Dynamic Investment Policies of a Value Maximizing Firm (Paperback, Softcover reprint of the original 1st ed. 1989):...
Optimal Dynamic Investment Policies of a Value Maximizing Firm (Paperback, Softcover reprint of the original 1st ed. 1989):...

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Optimal Dynamic Investment Policies of a Value Maximizing Firm (Paperback, Softcover reprint of the original 1st ed. 1989)

Peter M Kort

Series: Lecture Notes in Economics and Mathematical Systems, 330

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List price R1,978 Loot Price R1,878 Discovery Miles 18 780 | Repayment Terms: R175 pm x 12* You Save R100 (5%)

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1.1. Scope of the Book This book is a contribution to the area of "dynamic models of the firm." The motivation for this kind of research is the following: Empirical studies (e.g. Albach (1976)) have shown that the development of the firm over time can be divided into different stages. such as growth. stationarity and contraction. In order to understand and evaluate these stages in a proper way. it is important to develop a suitable theoretical framework. To that end. economists have applied dynamic mathematical techniques. such as optimal control theory. calculus of variations and dynamic programming to design and analyse dynamic models of the firm. In this way. the economic theory of the firm is extended to a dynamic context. Within the field of the dynamics of the firm this book - develops a general investment decision rule. based on the concept "net present value of marginal investment." which is applicable in deterministic dynamic models of the firm; - studies the influence of adjustment costs of investment on optimal dynamic firm behavior; - extends the stochastic dynamic theory of the firm by connecting it with a dynamic version of the Capital Asset Pricing Model. Before elaborating on "the dynamics of the firm." we first review the subject of net present value in the classical analysis.

General

Imprint: Springer-Verlag
Country of origin: Germany
Series: Lecture Notes in Economics and Mathematical Systems, 330
Release date: May 1989
First published: 1989
Authors: Peter M Kort
Dimensions: 244 x 170 x 10mm (L x W x T)
Format: Paperback
Pages: 185
Edition: Softcover reprint of the original 1st ed. 1989
ISBN-13: 978-3-540-51152-6
Barcode: 9783540511526
Categories: Books > Business & Economics > Business & management > Management of specific areas > Budgeting & financial management
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LSN: 3-540-51152-0

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