Studies in international corporate finance and governance systems a comparison of the U.S., Japan, and Europe

Corporate strategist Michael Porter states that the U.S. system of allocating capital both within and across companies appears to be failing because of both capital market and internal pressures on U.S. companies to underinvest in the relatively intangible assets that contribute to corporate capabil...

Descrizione completa

Salvato in:
Dettagli Bibliografici
Autore principale: Chew, Donald H.
Altri autori: Donald H. Chew
Lingua:Undetermined
English
Pubblicazione: New York Oxford University Press 1997
Soggetti:
Tags: Aggiungi Tag
Nessun Tag, puoi essere il primo ad aggiungerne! !
Thư viện lưu trữ: Trung tâm Học liệu Trường Đại học Trà Vinh
Descrizione
Riassunto:Corporate strategist Michael Porter states that the U.S. system of allocating capital both within and across companies appears to be failing because of both capital market and internal pressures on U.S. companies to underinvest in the relatively intangible assets that contribute to corporate capabilities. In contrast to Porter, financial economist Michael Jensen maintains that the most formidable challenge now facing the U.S. economy -- and, indeed, the economies of all industrialized nations -- is the corporate overinvestment problem, a problem that was addressed in the U.S. by the leveraged restructuring of the 1980s. Nobel-Prize economist Merton Miller answers both Porters concern about U.S. underinvestment and Jensens pessimism about U.S. control systems with a classic defense of the shareholder-value principle
Descrizione fisica:vi, 378 p.
ill.
24 cm
ISBN:0195107950
9780195107951