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Capital Allocation in Decentralized Businesses.

Authors :
Turnbull, Stuart M.
Source :
Journal of Risk & Financial Management; Dec2018, Vol. 11 Issue 4, p1-11, 11p
Publication Year :
2018

Abstract

This paper described a theory of capital allocation for decentralized businesses, taking into account the costs associated with risk capital. We derive an adjusted present value expression for making investment decisions, that incorporates the time varying profile of risk capital. We discuss the implications for business performance measurement. [ABSTRACT FROM AUTHOR]

Subjects

Subjects :
ORGANIZATIONAL centralization
DECENTRALIZATION in management
BUSINESS enterprises
INVESTMENTS
DECISION making

Details

Language :
English
ISSN :
19118066
Volume :
11
Issue :
4
Database :
Complementary Index
Journal :
Journal of Risk & Financial Management
Publication Type :
Academic Journal
Accession number :
133803145
Full Text :
https://doi.org/10.3390/jrfm11040082
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