Before revision:  Derivation and interpretation of the financial implications will be provided . Emphasis will be placed on the  continuous-time framework and its formulation as a differential equation driven by the operating cash flows . Mathematical results on existence and uniqueness of firm wealths under the discrete and continuous-time models will be provided .
After revision:  Derivation and interpretation of the financial implications will be provided . Emphasis will be placed on the continuous-time framework and its formulation as a differential equation driven by the operating cash flows .