lecture slides-slides 12
TRANSCRIPT
-
8/9/2019 Lecture Slides-slides 12
1/26
COURSERA
LECTURE NOTES
AN INTRODUCTION TO CORPORATE FINANCE
Franklin Allen
Wharton SchoolUniversity of Pennsylvania
Fall 2013
WEEK 1
Section 2
The Objective Function for Corporations
Copyright2013 by Franklin Allen
-
8/9/2019 Lecture Slides-slides 12
2/26
>c rz..
y
y
l
WHA 7
t
IM
E
f f l tV A
JL IN ,
V/1-J
11 .\ y 0
\
l_
c o lA r--.1 { t y
?
NHr cH
l
>
M
Oil
tMfo IL
7A 1T
?
:s DB
SE
< : ~ < L
\Ty -: '- MfL1>Yet: .S
D 1vt0Et lv .S
ro
fl >Hr-,
t\.t
1 t oLD Ett 5
?
-
8/9/2019 Lecture Slides-slides 12
3/26
z
f l
OT
I
VA
TI
oN Ex f-1
f 1
PL
1::-0
fl.
D
>
H
Art
E
1 J
o
t-.D6fL..S
M
E,,--r
AJ
Gr:
OL.P
L A D Y
MONC:..Y N O tJ
. 1A NT..$
S M A L L
LA
l 1
YB
It..
t
]
_J
l l T 7 L ~
f3o
y :
L - O N 4
1-Jofl1-z..orV
\ :
V.
(,, L
C
6 LL_}
f,1 -1 ?
E. L-tE.
c l c.
C...r-1
I t .
( J ~ r 1 f l O r J
1-=-v...
-
8/9/2019 Lecture Slides-slides 12
4/26
\
-
r
?
:
b
2
-
x
v
r
-
c
2
x
r
:
b
t
;
1
0
?
J
(
-
-
_
f
.
~
0
r
~
'
~
(
\
r
\
\
(
1
~
\
2
r
-
-
t
.
,
.
:
h
2
o
\
f
L
\
'
j
5
)
o
O
'
4
i
~
~
I
'
'
3
,
?
-
>
/
-
+
f
~
~
Q
,
I
-
'
.
L
.
J
-
0
~
1
\
)
'
'
~
l
I
t
J
z
'
r
L
.
-
-
D
f
~
-
r
.
-
8/9/2019 Lecture Slides-slides 12
16/26
~
f
l
f
;
.
)
:
I
1
.
0
o
~
r