Capital Allocation in Decentralized Businesses
AbstractThis 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. View Full-Text
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Turnbull, S.M. Capital Allocation in Decentralized Businesses. J. Risk Financial Manag. 2018, 11, 82.
Turnbull SM. Capital Allocation in Decentralized Businesses. Journal of Risk and Financial Management. 2018; 11(4):82.Chicago/Turabian Style
Turnbull, Stuart M. 2018. "Capital Allocation in Decentralized Businesses." J. Risk Financial Manag. 11, no. 4: 82.
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