search query: @author Stone, B. K. / total: 10
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| Author: | Guerard, J. B. Jr. Stone, B. K. |
| Title: | Strategic planning and the investment-financing behaviour of major industrial companies. |
| Journal: | Journal of the Operational Research Society
1987 : NOV, VOL. 38:11, p. 1039-1050 |
| Index terms: | OPTIMIZATION OPERATIONAL RESEARCH FINANCE STRATEGIC PLANNING |
| Language: | eng |
| Abstract: | The perfect-market hypothesis of financial decisions holds that there are no interdependencies of decisions, except that new debt is issued to finance research and development, dividends and investment. The decisions of manufacturing firms are employed as sample in regression analysis for econometric estimation.The purpose is to develop and estimate a multi-criteria optimization model to aid the management that seeks to minimize underachievement of desired financial goals to determine necessary expenditure adjustments in the firm's strategic plan. The rejection for the perfect-market hypothesis is found in the interpendencies among the research and development expenditures and dividend payments as well as the investment and effective-debt variables. |
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