Kaiser, Kevin; Young, S. David - In: Journal of Applied Corporate Finance 26 (2014) 1, pp. 8-19
type="main" <p>In Finance 101, future corporate managers are taught that the social mission of public companies is to maximize their own longrun (or “intrinsic”) value by investing in all positive net present value (NPV) projects—that is, projects that are expected to earn at least their...</p>