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Locating Decision Rights

2006
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Release : 2006
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Book Synopsis Locating Decision Rights by : George D. Cashman

Download or read book Locating Decision Rights written by George D. Cashman. This book was released on 2006. Available in PDF, EPUB and Kindle. Book excerpt: Mutual fund advisors make portfolio decisions for their funds on a daily basis. We examine the location of those portfolio decision rights on two dimensions. First, we consider the geographic location of the decision rights. Second, we consider whether the decision rights remain with an advisor or are outsourced to an independent sub-advisor. We argue that the allocation of portfolio decision rights involves a tradeoff between the opportunity cost of not matching decision rights with specific knowledge, and the agency costs associated with moving the decision rights to the specific knowledge. Patterns in the location of decision rights are consistent with that tradeoff being a meaningful determinant of the allocation of decision rights in the mutual fund industry. Additionally (and consistent with equilibrium), we find that risk-adjusted returns to sub-advised funds are greater than they would have been had the funds not been sub-advised, but indistinguishable from the returns produced by other funds.

Location of Decision-Rights Within Multinational Firms

2013
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Release : 2013
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Book Synopsis Location of Decision-Rights Within Multinational Firms by : Leslie A. Robinson

Download or read book Location of Decision-Rights Within Multinational Firms written by Leslie A. Robinson. This book was released on 2013. Available in PDF, EPUB and Kindle. Book excerpt: Using U.S.-based multinational firm data gathered over more than two decades, we examine factors associated with the location of decision-rights within these firms, whether the inappropriate assignment of decision-rights is associated with poor firm performance, and whether these firms relocate decision-rights in response to their evolving environments. We find that a mismatch between the location of decision-rights and a firm's environment is associated with weak firm performance. We also show that the likelihood a parent company will alter the assignment of decision-rights to a subsidiary is increasing in the extent of a mismatch although this likelihood is decreasing in the strength of the subsidiary's performance.

Digest of the Decisions of the Courts of Last Resort of the Several States from 1887 to [1911]: Abandonment to Youthful employees

1909 Law reports, digests, etc
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Release : 1909
Genre : Law reports, digests, etc
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Book Synopsis Digest of the Decisions of the Courts of Last Resort of the Several States from 1887 to [1911]: Abandonment to Youthful employees by : Edmund Samson Green

Download or read book Digest of the Decisions of the Courts of Last Resort of the Several States from 1887 to [1911]: Abandonment to Youthful employees written by Edmund Samson Green. This book was released on 1909. Available in PDF, EPUB and Kindle. Book excerpt:

Digest of the Decisions of the Courts of Last Resort of the Several States

1904 Law reports, digests, etc
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Release : 1904
Genre : Law reports, digests, etc
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Book Synopsis Digest of the Decisions of the Courts of Last Resort of the Several States by : Edmund Samson Green

Download or read book Digest of the Decisions of the Courts of Last Resort of the Several States written by Edmund Samson Green. This book was released on 1904. Available in PDF, EPUB and Kindle. Book excerpt:

Digest of the Decisions of the Courts of Last Resort of the Several States from 1887 to [1911]: Abandonment to Youthful servants. Supplement containing index to all notes to cases reported in volumes 1 to 140, inclusive

1912 Law reports, digests, etc
Download Digest of the Decisions of the Courts of Last Resort of the Several States from 1887 to [1911]: Abandonment to Youthful servants. Supplement containing index to all notes to cases reported in volumes 1 to 140, inclusive PDF Online Free

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Release : 1912
Genre : Law reports, digests, etc
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Book Synopsis Digest of the Decisions of the Courts of Last Resort of the Several States from 1887 to [1911]: Abandonment to Youthful servants. Supplement containing index to all notes to cases reported in volumes 1 to 140, inclusive by : Edmund Samson Green

Download or read book Digest of the Decisions of the Courts of Last Resort of the Several States from 1887 to [1911]: Abandonment to Youthful servants. Supplement containing index to all notes to cases reported in volumes 1 to 140, inclusive written by Edmund Samson Green. This book was released on 1912. Available in PDF, EPUB and Kindle. Book excerpt:

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