Performance measurement for investment decisions under capital constraints

An owner delegates investment decisions to a better informed manager whose time preferences are unknown to the owner. Due to exogenous capital constraints, not all profitable projects can be undertaken, and therefore the owner wants the manager to select the NPV-maximizing set of projects. We show t...

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Bibliographic details
Volume: 12
Main Author: Mohnen, Alwine
Bareket, Moshe
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: New York Kluwer Academic Publishers-Plenum Publishers 01.03.2007
Springer Nature B.V
published in: Review of accounting studies Vol. 12; no. 1; pp. 1 - 22
Data of publication: 20070300
ISSN: 1380-6653
EISSN: 1573-7136
Discipline: Business
Online Access: Fulltext
Database: Social Sciences Citation Index
Web of Science - Social Sciences Citation Index - 2007
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