Shareholder Value Maximization and Product Market Competition (Classic Reprint) - Hardcover

Inhaltsangabe

Excerpt from Shareholder Value Maximization and Product Market Competition

Instead, managers learn along with the market about their types. Nevertheless, managerstry to manipulate the market's assessments through unobservable actions. Similarly, in our model, firms are not privately informed about their inherent profitability, but try to influence the market's assessments through their unobservable product-market strategies.

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