Intellectual challenges and opportunities for mathematics are greater than ever. The role of mathematics in society continues to grow; with this growth comes new opportunities and some growing pains; each will be

This paper examines empirically the effect of firm growth opportunities and earnings quality on the market valuation of free cash flow, defined as the difference between operating cash flows and capital expenditures. Equity valuation theory prescribes that free cash flow should not be associated with stock returns because it does not add value. However, free cash flow could become a value-relev...

INTRODUCTION: Rapid urbanization and population expansion, coupled with sustained income growth and the emergence of an urban African middle class are triggering an increase in the consumption of animal protein in developing countries. The sustained increase in the consumption of animal proteins creates a host of new development opportunities to synergistically link smallholder livestock produc...

companies for survival and the presence of strong and innovative strategies are needed in the global market, thus to achieve profitable growth opportunities and create new blue ocean. blue ocean created of red ocean weakness (focusing too much on competition and lack of attention to the creation of a new market without competition) comes. while the blue ocean strategy to industries that do not ...

A public firms exploit their growth opportunities following their initial public offering, their assets in place increase, and they organize themselves optimally to operate these assets efficiently, which requires a more formal and less flexible organization than to generate new growth opportunities. Our theory predicts that, as a result of these inflexibilities, firms fail to fully replace the...

This study examines the impact of financial leverage on the firms’ investment decisions using information on Canadian publicly traded companies. It shows that leverage is negatively related to investment and that this negative effect is significantly stronger for firms with low growth opportunities than those with high growth opportunities. The paper tests the robustness of these results using ...

This paper analyzes the diversification-value puzzle from the Real Options (RO) approach. Our proposal conceives corporate diversification as a process which involves both the sequential replacement of prior acquired investment opportunities by assets-in-place and the generation of new valuable growth options. We argue that this conceptual framework allows to explain both documented diversifica...