Effective leadership involves more than developing and communicating the right strategic vision for the company. To encourage employees …
Capital Allocation
Transfer Pricing and the Control of Internal Corporate Transactions
One potential weakness of all divisional profitability schemes is their inability to capture synergies among business units. One …
The Economics of Organizational Architecture
Drawing on the work of Michael Jensen and William Meckling, the co-formulators of “agency cost theory,” the authors …
The Capital Structure Puzzle: Another Look at the Evidence
Since the formulation of the Miller and Modigliani propositions over 60 years ago, financial economists have been debating …
University of Rochester Roundtable on Bailout vs. Bankruptcy: The Case...
In an event staged at Rochester’s Geva Theatre in the midst of the global financial crisis in 2009, …
Corporate Insurance Strategy: The Case of British Petroleum
The authors provide a fundamental rethinking of how corporations should evaluate various kinds of risks and risk management …
An Unconventional Conglomerateur: Henry Singleton And Teledyne
Capital allocation involves decisions about raising and returning capital, and about acquiring and selling companies—all of which can …
Capital Allocation: Evidence, Analytical Methods, And Assessment Guidance
Capital allocation is one of top management’s primary responsibilities. Although always important, it is critical today because corporate …
Capital Deployment Roundtable: A Discussion Of Corporate Investment And Payout...
U.S. companies are now reportedly earning record-high operating returns on capital while at the same time continuing to …
The Hazards Of Growth
Thanks in large part to the incentives that companies create for their most senior people, growth is often …