Ghiselli Ricci, Roberto; Magni, Carlo Alberto - Volkswirtschaftliche Fakultät, … - 2009
This paper presents an axiomatization of residual income, aka excess profit, and illustrates how it may univocally …-income assets may be constructed on the basis of either theory starting from pre-determined growth rates for excess profit. In … engenders fixed-income or variable-income assets. In the first part it is shown that, depending on the relations between excess …