Capital budgeting and delegation

Citations

Cited by:

1. Bernardo, Antonio E & Luo, Jiang & Wang, James J.D., 2005. "A Theory of Socialistic Internal Capital Markets," University of California at Los Angeles, Anderson Graduate School of Management qt29x1966g, Anderson Graduate School of Management, UCLA.
2. Xu, Su Xiu, 2021. "Overexploitation Risk in “Green Mountains and Clear Water”," Ecological Economics, Elsevier, vol. 179(C).
3. Bernardo, Antonio E. & Cai, Hongbin & Luo, Jiang, 2001. "Capital budgeting and compensation with asymmetric information and moral hazard," Journal of Financial Economics, Elsevier, vol. 61(3), pages 311-344, September.
4. Eisfeldt, Andrea L. & Rampini, Adriano A., 2008. "Managerial incentives, capital reallocation, and the business cycle," Journal of Financial Economics, Elsevier, vol. 87(1), pages 177-199, January.
5. Steffen Nauhaus & Johannes Luger & Sebastian Raisch, 2021. "Strategic Decision Making in the Digital Age: Expert Sentiment and Corporate Capital Allocation," Journal of Management Studies, Wiley Blackwell, vol. 58(7), pages 1933-1961, November.
6. Qi Chen, 2003. "Cooperation in the Budgeting Process," Journal of Accounting Research, Wiley Blackwell, vol. 41(5), pages 775-796, December.
7. Felipe S. Iachan, 2020. "Capital Budgeting and Risk Taking Under Credit Constraints," Management Science, INFORMS, vol. 66(9), pages 4292-4314, September.
   • Iachan, Felipe Saraiva, 2017. "Capital budgeting and risk taking under credit constraints," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 786, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
8. Cynthia A. Utama & Sidharta Utama, 2016. "Interaction between Incentive to Expropriate and Investment Opportunities as a Determinant of Overinvestment Problem in Indonesia," Asian Academy of Management Journal of Accounting and Finance (AAMJAF), Penerbit Universiti Sains Malaysia, vol. 12(1), pages 73-99.
9. Irfah Najihah Basir Malan & Norhana Salamudin & Noryati Ahmad, 2013. "Ownership and Control Divergence on Firm Value," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 4(1), pages 78-85, January.
10. Bernardo, Antonio E. & Luo, Jiang & Wang, James J.D., 2006. "A theory of socialistic internal capital markets," Journal of Financial Economics, Elsevier, vol. 80(3), pages 485-509, June.
11. Bhanot, Karan & Kadapakkam, Palani-Rajan, 2022. "Pay for performance, partnership success, and the internal organization of venture capital firms," Journal of Corporate Finance, Elsevier, vol. 75(C).
12. Baule, Rainer, 2014. "Allocation of risk capital on an internal market," European Journal of Operational Research, Elsevier, vol. 234(1), pages 186-196.
13. Ricardo Alonso & Niko Matouschek, 2008. "Optimal Delegation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 75(1), pages 259-293.
    • Matouschek, Niko & Alonso, Ricardo, 2005. "Optimal Delegation," CEPR Discussion Papers 5289, C.E.P.R. Discussion Papers.
    • Alonso, Ricardo & Matouschek, Niko, 2008. "Optimal delegation," LSE Research Online Documents on Economics 58665, London School of Economics and Political Science, LSE Library.
14. Szydlowski, Martin, 2019. "Incentives, project choice, and dynamic multitasking," Theoretical Economics, Econometric Society, vol. 14(3), July.
    • Martin Szydlowski, 2012. "Incentives, Project Choice and Dynamic Multitasking," Discussion Papers 1525, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    • Martin Szydlowski, 2014. "Incentives, Project Choice, and Dynamic Multitasking," 2014 Meeting Papers 1240, Society for Economic Dynamics.
15. Arnoud W. A. Boot & Todd T. Milbourn & Anjolein Schmeits, 2006. "Credit Ratings as Coordination Mechanisms," The Review of Financial Studies, Society for Financial Studies, vol. 19(1), pages 81-118.
    • Boot, Arnoud & Milbourn, Todd, 2002. "Credit Ratings as Coordination Mechanism," CEPR Discussion Papers 3331, C.E.P.R. Discussion Papers.
    • Arnoud W.A. Boot & Todd T. Milbourn, 2002. "Credit Ratings as Coordination Mechanisms," Tinbergen Institute Discussion Papers 02-058/2, Tinbergen Institute.
    • Arnoud W. A. Boot & Todd T. Milbourn, 2002. "Credit Ratings as Coordination Mechanisms," William Davidson Institute Working Papers Series 457, William Davidson Institute at the University of Michigan.
16. Shin, Hyun-Han & Kim, Yong H., 2002. "Agency costs and efficiency of business capital investment: evidence from quarterly capital expenditures," Journal of Corporate Finance, Elsevier, vol. 8(2), pages 139-158, March.
17. Michael Kuhn, "undated". "Delegating Budgets when Agents Care About Autonomy," Discussion Papers 04/10, Department of Economics, University of York.
18. Dutta, Sunil & Fan, Qintao, 2012. "Incentives for innovation and centralized versus delegated capital budgeting," Journal of Accounting and Economics, Elsevier, vol. 53(3), pages 592-611.
19. Roman Inderst & Holger M. Mueller & Felix Münnich, 2006. "Financing a Portfolio of Projects," The Review of Financial Studies, Society for Financial Studies, vol. 20(4), pages 1289-1325.
    • Inderst, Roman & Mueller, Holger M. & Münnich, Felix, 2006. "Financing a portfolio of projects," IMFS Working Paper Series 5, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    • Inderst, Roman & Mueller, Holger & Muennich, Felix, 2006. "Financing a Portfolio of Projects," CEPR Discussion Papers 5711, C.E.P.R. Discussion Papers.
    • Inderst, Roman & Müller, Holger & Münnich, Felix, 2009. "Financing a portfolio of projects," IMFS Working Paper Series 34, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
20. Axel Gautier & Dimitri Paolini, 2007. "Delegation and Information Revelation," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 163(4), pages 574-597, December.
    • Gautier, Axel & Paolini, Dimitri, 2000. "Delegation and information revelation," LIDAM Discussion Papers IRES 2000015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    • GAUTIER, Axel & PAOLINI, Dimitri, 2007. "Delegation and information revelation," LIDAM Reprints CORE 2018, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Gautier, Axel & Paolini, Dimitri, 2002. "Delegation and Information Revelation," Bonn Econ Discussion Papers 18/2002, University of Bonn, Bonn Graduate School of Economics (BGSE).
    • Axel Gautier & Dimitri Paolini, 2000. "Delegation and Information Revelation," Econometric Society World Congress 2000 Contributed Papers 1292, Econometric Society.
21. Schmidbauer, Eric, 2019. "Budget selection when agents compete," Journal of Economic Behavior & Organization, Elsevier, vol. 158(C), pages 255-268.
22. Kim, Doyoung, 2006. "Capital budgeting for new projects: On the role of auditing in information acquisition," Journal of Accounting and Economics, Elsevier, vol. 41(3), pages 257-270, September.
23. Dongmin Kong & Ling Zhu & Ni Qin, 2022. "Does corruption shape firm centralisation? Evidence from state‐owned enterprises in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(3), pages 3365-3395, September.
24. Milton Harris & Artur Raviv, 2005. "Allocation of Decision-making Authority," Review of Finance, Springer, vol. 9(3), pages 353-383, September.
25. Choi, Yoon K., 2001. "Management turnover and executive compensation in synergistic takeovers," The Quarterly Review of Economics and Finance, Elsevier, vol. 41(2), pages 223-238.
26. Wulf, Julie, 2009. "Influence and inefficiency in the internal capital market," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 305-321, October.
27. Sunil Dutta & Stefan Reichelstein, 2000. "Controlling Investment Decisions: Hurdle Rates and Intertemporal Cost Allocation," CESifo Working Paper Series 354, CESifo.
28. Choi, Paul Moon Sub & Chung, Chune Young & Liu, Chang, 2018. "Self-attribution of overconfident CEOs and asymmetric investment-cash flow sensitivity," The North American Journal of Economics and Finance, Elsevier, vol. 46(C), pages 1-14.
29. Ang, James & de Jong, Abe & van der Poel, Marieke, 2014. "Does familiarity with business segments affect CEOs' divestment decisions?," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 58-74.
30. Szu-Wen Chou, 2002. "Flattened Resource Allocation, Hierarch Design and the Boundaries of the Firm," Levine's Working Paper Archive 618897000000000056, David K. Levine.
31. Khawaja, Mohsin & Bhatti, M. Ishaq & Ashraf, Dawood, 2019. "Ownership and control in a double decision framework for raising capital," Emerging Markets Review, Elsevier, vol. 41(C).
32. Stoughton, Neal M. & Zechner, Josef, 2007. "Optimal capital allocation using RAROC(TM) and EVA(R)," Journal of Financial Intermediation, Elsevier, vol. 16(3), pages 312-342, July.
    • Zechner, Josef & Stoughton, Neal, 2004. "Optimal Capital Allocation Using RAROC(tm) and EVA," CEPR Discussion Papers 4169, C.E.P.R. Discussion Papers.
33. Stein, Jeremy C., 2003. "Agency, information and corporate investment," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 2, pages 111-165, Elsevier.
    • Jeremy C. Stein, 2001. "Agency, Information and Corporate Investment," NBER Working Papers 8342, National Bureau of Economic Research, Inc.
34. Sureka, Riya & Kumar, Satish & Colombage, Sisira & Abedin, Mohammad Zoynul, 2022. "Five decades of research on capital budgeting – A systematic review and future research agenda," Research in International Business and Finance, Elsevier, vol. 60(C).
35. Krause, Günter, 2004. "On the role of budgeting in the delegated provision of public goods under asymmetric information," W.E.P. - Würzburg Economic Papers 51, University of Würzburg, Department of Economics.
36. Axel Gautier & Florian Heider, 2001. "What Do Internal Capital Markets Do? Redistribution vs. Incentives," FMG Discussion Papers dp386, Financial Markets Group.
    • Gautier, Axel & Heider, Florian, 2001. "What do internal capital markets do? Redistribution vs. incentives," LSE Research Online Documents on Economics 25062, London School of Economics and Political Science, LSE Library.
    • Axel GAUTIER & Florian HEIDER, 2001. "What do internal capital markets do ? Redistribution vs. incentives," LIDAM Discussion Papers IRES 2001015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
37. Chen, Qi & Jiang, Wei, 2004. "Positive hurdle rates without asymmetric information," Finance Research Letters, Elsevier, vol. 1(2), pages 106-112, June.
38. Ahmadzadeh, Amirreza, 2024. "Costly state verification with Limited Commitment," TSE Working Papers 24-1570, Toulouse School of Economics (TSE).
39. Xavier Giroud, 2010. "Soft Information and Investment: Evidence from Plant-Level Data," Working Papers 10-38, Center for Economic Studies, U.S. Census Bureau, revised Nov 2010.
40. Roper, Andrew H. & Ruckes, Martin E., 2012. "Intertemporal capital budgeting," Journal of Banking & Finance, Elsevier, vol. 36(9), pages 2543-2551.
41. Kulpmann, Mathias, 2000. "Incentives in an international bank," Journal of Multinational Financial Management, Elsevier, vol. 10(3-4), pages 481-493, December.
42. Arve, Malin & Honryo, Takakazu, 2022. "Wasteful procedures?," Journal of Economics and Business, Elsevier, vol. 122(C).
43. Wagner, Alexander F. & Miller, Nolan H. & Zeckhauser, Richard J., 2006. "Screening budgets," Journal of Economic Behavior & Organization, Elsevier, vol. 61(3), pages 351-374, November.
44. Reichelstein, Stefan J. & Dutta, Sunil, 2001. "Controlling Investment Decisions: Depreciation and Capital Charges," Research Papers 1722, Stanford University, Graduate School of Business.
45. Sandro Brusco & Fausto Panunzi, 2020. "Internal financing, managerial compensation and multiple tasks," Annals of Finance, Springer, vol. 16(4), pages 501-527, December.
46. Bernardo, Antonio E. & Cai, Hongbin & Luo, Jiang, 2002. "Capital Budgeting in Multi-Division Firms: Information, Agency, and Incentives," University of California at Los Angeles, Anderson Graduate School of Management qt0779b20v, Anderson Graduate School of Management, UCLA.
47. Kuhn, Michael & Gundlach, Erich, 2006. "Delegating budgets when agents care about autonomy," Thuenen-Series of Applied Economic Theory 69, University of Rostock, Institute of Economics.
48. Chune Young Chung & Changhwan Choi & Amirhossein Fard, 2024. "Self‐serving attribution and managerial investment decision," Bulletin of Economic Research, Wiley Blackwell, vol. 76(3), pages 749-772, July.
49. Laux, Volker, 2008. "On the value of influence activities for capital budgeting," Journal of Economic Behavior & Organization, Elsevier, vol. 65(3-4), pages 625-635, March.
50. Andrey Malenko, 2011. "Optimal Design of Internal Capital Markets," 2011 Meeting Papers 442, Society for Economic Dynamics.
51. Naik, Narayan Y. & Yadav, Pradeep K., 2003. "Do dealer firms manage inventory on a stock-by-stock or a portfolio basis?," Journal of Financial Economics, Elsevier, vol. 69(2), pages 325-353, August.
52. Hoang, Daniel & Gatzer, Sebastian & Ruckes, Martin E., 2018. "The economics of capital allocation in firms: Evidence from internal capital markets," Working Paper Series in Economics 115, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.
53. Mehari Mekonnen Akalu, 2002. "Evaluating the Capacity of Standard Investment Appraisal Methods," Tinbergen Institute Discussion Papers 02-082/1, Tinbergen Institute.
54. Gatzer, Sebastian & Hoang, Daniel & Ruckes, Martin, 2015. "Internal Capital Markets and Diversified Firms: Theory and Practice," EconStor Preprints 169432, ZBW - Leibniz Information Centre for Economics.
55. Ozbas, Oguzhan, 2005. "Integration, organizational processes, and allocation of resources," Journal of Financial Economics, Elsevier, vol. 75(1), pages 201-242, January.