This study examines the impact of CEO duality on firms' internal capital allocation efficiency. We observe that when … duality on internal capital allocation efficiency. Overall, the findings of this study offer strong support for the agency … theory and postulate the internal capital allocation policy as an important channel through which CEO duality lowers firm …

affects information flows) and the allocation of authority to the board or management (which affects ex-post decisions). We …

able to create consensus with management, making the allocation of authority irrelevant …

This paper studies the problem of delegating the allocation of resources across multiple categories to an agent who has … cap on the allocation to each category, a generalization of Holmström's (1977) ‘interval controls' to multidimensional … allocation. Such limits are more likely to be optimal when the conflict is weaker and the agent's information is also on …

We consider resource allocation within an organisation and show how delegation bears on moral hazard and adverse …

The paper argues that the industrial organization of the financial services market is determined by the allocation of … liability to repay investors. Based on the allocation of liability, the paper examines all the possible modes of organizing …