- Research Highlight
- Read Time: 11 min
A review of research that explores the link between valuation, activity and performance. Christa H.S. Bouwman, Kathleen Fuller and Amrita S. Nain
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I am shocked,shocked to find that gambling is going on in here!” The disingenuousness of Captain Renault’s outrage in the movieCasablanca isn’t lost on the audience, who know that Renault knows exactly what has been going on in Rick’s Café.
In the wake of the past year's reports of numerous corporate misdeeds, relatively few businesses have thought about making substantive voluntary changes in their ways of working. And, among companies that have made changes, the actions are general rather than specific.
The product-development process is often seen as an undependable “black box” that rarely produces results that exceed business expectations. With an approach called “net present value, risk-adjusted,” the author offers an operational framework of quantitative tools that can be integrated into existing stage-gate methodologies to create a risk-adjusted NPV that considers the impacts of product portfolio, user needs, and technical and marketing risks.
Accounting watchdogs have long warned that providing nonaudit services can compromise an auditor's independence. Now they have some numbers to support their case.
Multiple studies have revealed that over half of completed M&A transactions actually dilute shareholder value within the first year. In a recent white paper,“Fundamental Issues Surrounding Failed Acquisitions” (April 2002), co-authors Robert Stefanowski and Anshuman Ray explore the underlying environmental factors that frequently derail promising corporate pairings.T
Under certain conditions, a firm’s capabilities and those of its potential partners can influence boundary decisions.
Traditional strategic planning draws from forecasts of parameters like market growth, prices, exchange rates, and input costs that managers are unable to predict five or 10 years in advance with any accuracy. The author discusses a strategy that embodies a coherent portfolio of options, sketches a process managers can use to develop this kind of strategy, and explains how planning and management opportunism can reinforce each other.
Why do companies frequently make bad investment decisions and continue to blunder, even after the weaknesses in their capital budgeting analyses are evident? Because, say the authors, they don’t integrate capital budgeting into their overall strategy. To address this, the authors present a framework for dynamic capital budgeting that can help managers make intelligent investment decisions with a long-term strategy in mind.
Are strategic takeovers, which are generally friendly transactions involving stock and firms in overlapping businesses, more profitable than financial deals, which are usually hostile transactions involving cash and firms in unrelated businesses?
Superstition has always had a big impact on human behavior, sometimes yielding macroeconomic effects for even the most industrialized societies. An example of the effects of superstition is the rate of Japanese births from 1960 to 1990 (see Figure 1). A general, steady decline is evident in recent decades.
The competitiveness of U.S. corporations, particularly manufacturing firms, declined during the 1980s. The decade witnessed serious inroads by foreign firms into traditional domestic markets. In capital goods, for example, the import penetration ratio rose from less than 15 percent to nearly 40 percent. Some indicators of U.S.
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