CONCEPTUAL PROBLEMS IN THE USE OF RISK-ADJUSTED DISCOUNT RATES

Authors

  • Alexander A. Robichek,

  • Stewart C. Myers

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    • The authors are, respectively, Associate Professor of Business Administration, Graduate School of Business, Stanford University, and Assistant Professor of Finance, Sloan School of Management, Massachusetts Institute of Technology.

  • This study was supported, in part, by funds made available by the Ford Foundation to the Graduate School of Business, Stanford University. The conclusions, opinions, and other statements in this paper are those of the authors and are not necessarily those of the Ford Foundation.

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