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Postmodern Corporate Finance


  • Gregory V. Milano


One of the core tenets of modern finance theory is that corporations create value by producing operating rates of return on capital that are greater than the cost of capital. "Postmodern" corporate finance, while reaffirming the importance of earning an adequate return on capital, also attempts to restore at least part of the traditional corporate emphasis on top-line growth that prevailed before the intense focus on returns by modern shareholder value advocates. Copyright Copyright (c) 2010 Morgan Stanley.

Suggested Citation

  • Gregory V. Milano, 2010. "Postmodern Corporate Finance," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(2), pages 48-59.
  • Handle: RePEc:bla:jacrfn:v:22:y:2010:i:2:p:48-59

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    References listed on IDEAS

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