As we move from the concept of empowerment to its measurement, it is natural that the complexity in the concept passes into its empirical expression in multiples. The problem is compounded as the concept is a multidimensional one. Several different efforts have been made in recent years to...

We analyze the internal capital markets of a multinational conglomerate to determine whether more powerful unit managers enjoy larger allocations. We use a new dataset of planned and actual allocations to business units to show that, although all unit managers systematically over-budget capital...