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Influence of Integration and Diversity on the Investment Process
Robert W. Ackerman
Administrative Science Quarterly
Vol. 15, No. 3 (Sep., 1970), pp. 341-351
Published by: Sage Publications, Inc. on behalf of the Johnson Graduate School of Management, Cornell University
Stable URL: http://www.jstor.org/stable/2391624
Page Count: 11
You can always find the topics here!Topics: Financial investments, Business management, Business structures, Paper mills, Investment strategies, Corporations, Papermaking, Corporate investments, Return on investment, Portfolio diversification
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The process for allocating resources to major capital investment projects was studied in two vertically integrated and two diversified corporations. The hypotheses predicting greater decentralization of decision making in the diversified corporations were strongly confirmed. However, the results did not support other hypotheses related to the influence of a financial model on the process. Instead, decisions were guided by product-market strategy and measures of organizational performance.
Administrative Science Quarterly © 1970 Johnson Graduate School of Management, Cornell University