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Zsolt Becsi
''Endogenous longevity and the value-maximizing firm''
( 2002, Vol. 5 No.7 )
We develop a simple analytical framework where the longevity of profit-maximizing firms requires costly resources. We show that a firm's longevity and value are positively related to the firm''s pricing power, cash reserves, honesty, and ratio of equity to debt financing.
Keywords: Intertemporal Profit Maximization
JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
D9 - Intertemporal Choice and Growth: General
Manuscript Received : Dec 03 2002 Manuscript Accepted : Dec 03 2002

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