求助高手,帮帮我翻下我的外文翻译啦!急!As we will discover later in this chapter ,there is a very definite relationship between risk and expected return for taking on added risk-and to ignore this relationship would lead to improper de

求助高手,帮帮我翻下我的外文翻译啦!急!As we will discover later in this chapter ,there is a very definite relationship between risk and expected return for taking on added risk-and to ignore this relationship would lead to improper de
求助高手,帮帮我翻下我的外文翻译啦!急!
As we will discover later in this chapter ,there is a very definite relationship between risk and expected return for taking on added risk-and to ignore this relationship would lead to improper decision making.
Another problem with the goal of profit maximization is that it ignores the timing of the project’s returns .If this goal is only concerned with this year’s profits ,we know it inappropriately ignores profit in future years.If we interpret it to maximize the average of profits ,it is also incorrect.Inasmuch as investment opportunities are available for money in hand .we want those cash flows sooner rather than later .Thus ,the real-world factors of uncertainty and timing force us to look beyond a simple goal of profit maximization as a decision criterion.We will turn now to an examination of a more robust goal for the firm:maximization of shareholder wealth
谢谢!

求助高手,帮帮我翻下我的外文翻译啦!急!As we will discover later in this chapter ,there is a very definite relationship between risk and expected return for taking on added risk-and to ignore this relationship would lead to improper de
As we will discover later in this chapter ,there is a very definite relationship between risk and expected return for taking on added risk-and to ignore this relationship would lead to improper decision making.
正如我们准备在本章节后讨论的,风险与预期收益之间存在着必然的联系,更多的收益意味着更多的风险,因而,如果忽视了这两者的关系,将导致非正确决策的制定.
Another problem with the goal of profit maximization is that it ignores the timing of the project’s returns .If this goal is only concerned with this year’s profits ,we know it inappropriately ignores profit in future years.If we interpret it to maximize the average of profits ,it is also incorrect.
目标最大化收入的另外一个问题是不能忽视投资回报时间.如果只是关注项目的当年收益,我们知道它将会影响未来的利润.如果我们偏将要它理解为平均收益的最大化,这同样也是不正确的.
Inasmuch as investment opportunities are available for money in hand .we want those cash flows sooner rather than later .Thus ,the real-world factors of uncertainty and timing force us to look beyond a simple goal of profit maximization as a decision criterion.We will turn now to an examination of a more robust goal for the firm:maximization of shareholder wealth
因为投资机会是来自于所拥有的资金的利用,我们需要那些能迅速周转现金流.因此,现实世界的不确定因素及时间让我们不能不将目标最大化做为决策的标准.现在我们讨论另外一个话题,如何预测公司内的动态目标：使持股人收益最大化.

正如我们在本章稍后会发现的
目前存在的风险与加上风险的预期回报是很有一定关联的,忽视这一关联将导致决策的不当。另一个问题是利润最大化的目标,它忽视了时间的项目的申报。 例如，如果这个目标只是关心今年的利润,我们知道这将可能会忽略未来利润的最大化，因此，这是不适当的。如果我们改变策略，将平均利润最大化,这也是不恰当的，因为当前就应该抓住当前的机会，用手里的钱进行投资。 这些现金流量是宜早不宜...

全部展开

正如我们在本章稍后会发现的
目前存在的风险与加上风险的预期回报是很有一定关联的,忽视这一关联将导致决策的不当。另一个问题是利润最大化的目标,它忽视了时间的项目的申报。 例如，如果这个目标只是关心今年的利润,我们知道这将可能会忽略未来利润的最大化，因此，这是不适当的。如果我们改变策略，将平均利润最大化,这也是不恰当的，因为当前就应该抓住当前的机会，用手里的钱进行投资。 这些现金流量是宜早不宜迟。由于,现实世界的不确定因素和时间，迫使我们超越一个简单的“利润最大化”做为目标。我们现在将致力于一个对公司更有活力的目标检查，这个目标是:股东利益最大化。

收起