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Fundamentals: Financing and Risk

In: Value Creation for Owners and Directors

Author

Listed:
  • Massimo Massa

    (INSEAD)

  • Kai Taraporevala
  • Ludo Van der Heyden

Abstract

Owners must understand how fundamentals of risk and financing affect the selection and success of strategies. In our discussion of a company’s need for financing, we follow the risk-return paradigm of modern finance. However, deviating from the classical Modigliani-Miller treatment, we show how equity financing through IPOs enables and influences strategies. Three types of risk are discussed in this book: volatility, black swan, and obsolescence. Two of these risks, volatility and black swan, are investigated in this chapter. The third risk, obsolescence, is dealt with in Chap. 7 .

Suggested Citation

  • Massimo Massa & Kai Taraporevala & Ludo Van der Heyden, 2023. "Fundamentals: Financing and Risk," Springer Books, in: Value Creation for Owners and Directors, chapter 6, pages 129-141, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-19726-0_6
    DOI: 10.1007/978-3-031-19726-0_6
    as

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