Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates
in The Review of Financial Studies
April 2014; p ublished online February 2014 .
Journal Article. Subjects: Intertemporal Choice and Growth; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Economics; Corporate Governance; Firm Objectives, Organization, and Behaviour. 21150 words.
We argue and demonstrate that resource allocation within firms' internal capital markets provides an important force countervailing financial market dislocation. We estimate a structural...
in Cambridge Journal of Economics
May 2010; p ublished online May 2009 .
Journal Article. Subjects: Manufacturing; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Firm Objectives, Organization, and Behaviour; Corporate Governance. 8244 words.
This article considers the role of hurdle rates in the analysis of investment decisions, analysing a sample of business units from the PIMS (Profit Impact of Marketing Strategy) databank of...
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