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Intrinsic value is a long-run concept. Management's goal should be to take actions designed to maximize the O Firm's ability to expand its business O

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Intrinsic value is a long-run concept. Management's goal should be to take actions designed to maximize the O Firm's ability to expand its business O Firm's intrinsic value, not its current market price. Firm's current market price, not its intrinsic value Compensation of the managers

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