search query: @author Keane, M. / total: 6
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| Author: | Keane, M. |
| Title: | A reappraisal of share price maximization as a corporate financial objective |
| Journal: | European Journal of Finance
1995 : MAR, VOL. 1:1, p. 1-17 |
| Index terms: | FINANCE PRICES CORPORATE FINANCE |
| Language: | eng |
| Abstract: | This paper challenges the conventional share price maximizing objective and the assumption that a successful company can expect to achieve share price growth above the normal drift caused by inflation and earnings retention. The share price is an expectations-based measure, and more efficient companies have no greater prospect of outperforming market expectations than less efficient companies. |
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