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Given the goals of firm value and shareholder wealth maximization, we have stressed importance of NPV. And yet, many financial decision-makers at some of the

Given the goals of firm value and shareholder wealth maximization, we have stressed importance of NPV. And yet, many financial decision-makers at some of the most prominent firms in the world continue to use less desirable measures such as the payback period and AAR. Why do you think this is the case?

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