Chacko, George; Tufano, Peter; Verter, Geoffrey - National Bureau of Economic Research (NBER) - 2000
understand the challenge of translating risk management theory into managerial action. Cephalon Inc., a biotech firm, bought a … both managers and theorists. Managers consider deadweight costs of financing and of risk management, whereas theory tends … arrive at decisions and this measurement problem is severe. Cephalon's risk management decisions seem motivated as much by …