Incentive Compatible Decision Making: Real Options with Adverse Incentives
In this paper, we examine the real options approach to capital budgeting decision making in the presence of managerial adverse incentives. We show that real options have the potential to be value enhancing or value destroying depending on the managerial incentives that may result from having objecti...
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| Format: | Article |
| Language: | English |
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MDPI AG
2018-02-01
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| Series: | Axioms |
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| Online Access: | http://www.mdpi.com/2075-1680/7/1/9 |