Политиката на растеж и създаването на стойност в компаниите
Growth Policy and Value Creation in Companies

Summary/Abstract: This paper addresses an important issue in the context of the value-based financial management of companies. It concerns the analysis and appraisal of the growth, pursued by management, with regard to its contribution to the value maximization of the firm. The determinants of the value of growth are analyzed. The study indicates that the policy of aggressive growth, applied by many companies, does not always lead to the actual increase of their value. This depends on the quality of growth achieved by them.

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