The Cost of Diversity: The Diversification Discount and Inefficient Investment
收藏NBER1998-01-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w6368
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资源简介：
In a simple model of capital budgeting in a diversified firm where headquarters has limited power, we show that funds are allocated towards the most inefficient divisions. The distortion is greater the more diverse are the investment opportunities of the firm's divisions. We test these implications
提供机构：
美国国家经济研究局
创建时间：
1998-01-01
