Why do investments in financial markets almost always have zero NPVs, whereas firms can find many investments

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Why do investments in financial markets almost always have zero NPVs, whereas firms can find many investments in their product markets with positive NPVs?

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Fundamentals of Corporate Finance

ISBN: 978-0077861629

8th edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus

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Question Posted: Jun 30, 2016 09:13 AM

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Why do investments in financial markets almost always have zero NPVs, whereas firms can find many investments

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Investments in financial markets such as stocks or bonds are available to all participants in the ma...View the full answer

Fundamentals of Corporate Finance

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