问题描述:
求助高手,帮帮我翻下我的外文翻译啦!急!
As we will discover later in this chapter ,there is a very definite relationship between risk and expected return for taking on added risk-and to ignore this relationship would lead to improper decision making.
Another problem with the goal of profit maximization is that it ignores the timing of the project’s returns .If this goal is only concerned with this year’s profits ,we know it inappropriately ignores profit in future years.If we interpret it to maximize the average of profits ,it is also incorrect.Inasmuch as investment opportunities are available for money in hand .we want those cash flows sooner rather than later .Thus ,the real-world factors of uncertainty and timing force us to look beyond a simple goal of profit maximization as a decision criterion.We will turn now to an examination of a more robust goal for the firm:maximization of shareholder wealth
谢谢!
As we will discover later in this chapter ,there is a very definite relationship between risk and expected return for taking on added risk-and to ignore this relationship would lead to improper decision making.
Another problem with the goal of profit maximization is that it ignores the timing of the project’s returns .If this goal is only concerned with this year’s profits ,we know it inappropriately ignores profit in future years.If we interpret it to maximize the average of profits ,it is also incorrect.Inasmuch as investment opportunities are available for money in hand .we want those cash flows sooner rather than later .Thus ,the real-world factors of uncertainty and timing force us to look beyond a simple goal of profit maximization as a decision criterion.We will turn now to an examination of a more robust goal for the firm:maximization of shareholder wealth
谢谢!
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