MANAGERIAL ECONOMICS REDEFINED AND FIRM'S VALUE.PART 3

its research and development personel to engage in development of new products vital to further grow total revenues.However,it is a logical disservice to the ingenuous method of inventive art to accrue the determinants of a firm's value as shown in the last equation to equal the equation.That the value of i depends on the riskiness of the firm as shown in chapter 15;and conditions of the capital markets as shown in chapter 16.That the values of TRt depends on:1.)demand and forecasting noted in chapters 3-6;pricing as shown in chapters 11-14;and new product development in chapter 8.That values of TCt determine by 1.)production techniques shown in chapters 7-10;2.)cost functions in chapter 9;and 3.)process development.Hence,Mansfield concluded a firm's value depends on factors influencing TRt,TCt and i and the allied constraints.While it is necessary to realise that the constraint factors it faces endear it to explore optimised innovative techniques should ordinarily create leverage for its continue existence.