This article reports the findings of the authors' study of the stock market reaction to 345 strategic alliances announced during the period 1983-1992. The study reports statistically significant gains that, when translated into dollars, are divided roughly evenly between the larger and smaller...

Most large firms are not large, single station facilities… Large size is the result of joining a series of stations within a single administrative entity…The interfaces between stations could instead be mediated by market exchanges. 1991 Morgan Stanley.

Why do some firms create extraordinary value for shareholders, while others destroy it? A powerful suite of value based management tools can make the difference. Value based management (VBM) refers to tools that financial managers can use to plan, monitor, and control a firm's operations in ways...