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The evaluation and selection of novel projects lies at the heart of scientific and technological innovation, and yet … evaluation, specifically information sharing among expert evaluators, plays in generating conservative decisions. We executed two … from seven universities to evaluate 97 projects resulting in 761 proposal-evaluation pairs and over $300,000 in awards. We …
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This paper fills a very important gap in the literature with a straightforward methodology that generalizes the classic Modigliani and Miller results and provides correct values for the expected return on equity and for the weighted average cost of capital (WACC). After some confusing debate in...
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