Innovative investments, growth, risk and capability for survival from the perspective of value building for business owners
Journal Title: "Finanse" Czasopismo Komitetu Nauk o Finansach PAN - Year 2018, Vol 11, Issue 1
Abstract
This paper presents the innovative activity of enterprises as a process that is risky but necessary for the survival of a company in a competitive market, and as a way to maximize the long-term value for the owners. Risks and benefits were analysed, and the possible sources of added value in innovative projects were identified in the context of the capital market equilibrium and the budgeting of investments. Innovative projects become a source of added value for investors if the financial effects such as changes in the residual cash flow and higher growth rate outweigh the combined impact on the risk generated by two factors: increase of systematic risk and emerging specific risks.
Authors and Affiliations
Michał Bacior
Keywords
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- EP ID EP448342
- DOI 10.24425/finanse.2018.125395
- Views 40
- Downloads 0
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