Career Concerns and Resource Allocation in Conglomerates

Anand Mohan Goel, Vikram Nanda, M. P. Narayanan
2003 The Review of financial studies  
This paper investigates the resource allocation decisions in conglomerates when managers are motivated by career concerns. The output of a conglomerate division is determined by the unknown ability of corporate management, the capital employed in the division, and intangible resources that the manage ment allocates to the division. While capital
doi:10.1093/rfs/hhg043 fatcat:r5uxjbivhvhm7gku6vsxa3wwce