7.1 Expected industry profitability has fallen. Thus the value of future investment opportunities has fallen relative to
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7.1 Expected industry profitability has fallen. Thus the value of future investment opportunities has fallen relative to the value of assets in place. This happens in all growth industries sooner or later, as competition increases and profitable new investment opportunities shrink.
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Fundamentals Of Corporate Finance
ISBN: 9780073382302
6th Edition
Authors: Richard A Brealey, Stewart C Myers, Alan J Marcus
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