search query: @author Harris, M. / total: 22
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| Author: | Harris, M. Raviv, A. |
| Title: | Capital budgeting and delegation. |
| Journal: | Journal of Financial Economics
1998 : DEC, VOL. 50:3, p. 259-289 |
| Index terms: | Capital budgeting Project appraisal Delegation Corporate budgets |
| Freeterms: | Budget rollovers |
| Language: | eng |
| Abstract: | As part of the authors' ongoing research into capital budgeting processes as responses to decentralized information and incentive problems, they focus in this paper on when a level of a managerial hierarchy will delegate the allocation of capital across projects and time to the level below it. This delegation takes advantage of the fact that the lower-level manager's preferences are assumed to be similar to those of the higher level. |
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