Abstract
The model presented in this chapter analyses the dynamic relations between corporate investment, financial and dividend policies. We assume that the firm operates in an environment that is common to many firms: it has no access to the stock exchange, debt money is limited and marginal returns to scale are decreasing. Compared with the predecessors, we render explicitly with governmental influence on corporate policy by introducing corporate profit tax.
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© 1993 Springer-Verlag Berlin Heidelberg
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van Hilten, O., Kort, P.M., van Loon, P.J.J.M. (1993). A Dynamic Model of the Firm. In: Dynamic Policies of the Firm. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-77884-1_4
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DOI: https://doi.org/10.1007/978-3-642-77884-1_4
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-77886-5
Online ISBN: 978-3-642-77884-1
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