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Více informací o knize Optimal Dynamic Investment Policies of a Value Maximizing Firm

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Anotace knihy

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.

Parametry knihy

Zařazení knihy Knihy v angličtině Economics, finance, business & management Business & management Management & management techniques

• Plný název: Optimal Dynamic Investment Policies of a Value Maximizing Firm
• Autor: Peter M. Kort
• Jazyk: Angličtina
• Vazba: Brožovaná
• Počet stran: 185
• EAN: 9783540511526
• ISBN: 9783540511526
• ID: 06623513
• Nakladatelství: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
• Hmotnost: 355 g
• Rozměry: 244 × 170 × 12 mm
• Datum vydání: 10. May 1989

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