Jegadeesh to CFOs: The capital asset pricing model still rules - EmoryBusiness.com

EmoryBusiness.com

Firms invest in various things: bonds, stocks or other assets—new stores, new premises or even other firms. And they do so to earn maximum value from available cash that would otherwise be idle. For example, for the last five years Walmart generated an annual cash flow of more than $25 billion from its operations. The …