Presents a framework for analyzing proper options. Takes as given the idea of value-based management whereby managers use value just like a primary being approved qualifying criterion when designing financial, proper, or investment options. Using a simple valuation model, it shows how equity value pertains to three value drivers profitability, advantage horizon, and reinvestment. Also presents a record example as an example the model additionally to empirical evidence to assist the relation between value creation as well as the value drivers.
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