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Problems of Assessing Risk and Return Inside an Operating Business

In: Risk, Portfolio Management and Capital Markets

Author

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  • Alan Bainbridge

Abstract

The process of investment in the UK can be considered as a kind of cash waterfall, whereby capital flows from the investing public via financial intermediaries through the company directors and finally reaching the operational managers who purchase physical assets and human skills in order to create wealth. Legal sanctions, competitive forces and (hopefully enlightened) self-interest act as a pump which forces profits, in the form of cash, back to the shareholders. It is the duty of managers to use shareholders’ funds for the purpose of maximising shareholders’ wealth.

Suggested Citation

  • Alan Bainbridge, 1992. "Problems of Assessing Risk and Return Inside an Operating Business," Palgrave Macmillan Books, in: T. E. Cooke & J. Matatko & D. C. Stafford (ed.), Risk, Portfolio Management and Capital Markets, chapter 9, pages 161-176, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11666-9_10
    DOI: 10.1007/978-1-349-11666-9_10
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