The difficulties of the past year have convinced many observers that current risk management practices are deeply flawed, and that such flaws have contributed greatly to the current financial crisis. In this paper, the author challenges this view by showing the need to distinguish between flawed assessments by risk managers …
The Capital Structure Puzzle: Another Look at...
3 weeks ago Number 1/Winter 2020/Volume 32Since the formulation of the Miller and Modigliani propositions over 60 years ago, financial economists have been debating whether there …
University of Rochester Roundtable on Bailout vs....
Number 1/Winter 2020/Volume 32 3 weeks agoIn an event staged at Rochester’s Geva Theatre in the midst of the global financial crisis in 2009, Tom Jackson, …
Using Organizational Architecture to Lead Change
3 weeks ago Number 1/Winter 2020/Volume 32Effective leadership involves more than developing and communicating the right strategic vision for the company. To encourage employees to carry …
Transfer Pricing and the Control of Internal...
3 weeks ago Number 1/Winter 2020/Volume 32One potential weakness of all divisional profitability schemes is their inability to capture synergies among business units. One way of …
The Economics of Organizational Architecture
3 weeks ago Number 1/Winter 2020/Volume 32Drawing on the work of Michael Jensen and William Meckling, the co-formulators of “agency cost theory,” the authors argue that …
The Capital Structure Puzzle: Another Look at...
3 weeks ago Number 1/Winter 2020/Volume 32Since the formulation of the Miller and Modigliani propositions over 60 years ago, financial economists have been debating whether there …
University of Rochester Roundtable on Bailout vs....
Number 1/Winter 2020/Volume 32 3 weeks agoIn an event staged at Rochester’s Geva Theatre in the midst of the global financial crisis in 2009, Tom Jackson, …
Corporate Insurance Strategy: The Case of British...
4 weeks ago Number 1/Winter 2020/Volume 32The authors provide a fundamental rethinking of how corporations should evaluate various kinds of risks and risk management solutions—a rethinking …
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Is Economic Growth Good For Investors?
9 months ago Number 3, Summer 2012, Volume 24When measured over long periods of time, the correlation of countries’ inflation- adjusted per capita GDP growth and stock returns …
Capital Deployment Roundtable: A Discussion Of Corporate...
9 months ago Number 4, Fall 2014, Volume 26U.S. companies are now reportedly earning record-high operating returns on capital while at the same time continuing to set new …
Risk Management Failures: What Are They And...
9 months ago Number 4, Fall 2008, Volume 20The difficulties of the past year have convinced many observers that current risk management practices are deeply flawed, and that …