The investment opportunity set: Determinants, consequences and measurement

Sanjay Kallapur; Mark A. Trombley

doi:10.1108/03074350110767060

The investment opportunity set: Determinants, consequences and measurement

Sanjay Kallapur, Mark A. Trombley

Research output: Contribution to journal › Article › peer-review

33 Scopus citations

Abstract

Explains the concept of the investment set (IOS: i.e. chances to invest for expansion, new products, cost reduction etc.) and its effects on firm value. Reviews previous research on the theoretical relationships between IOS and optimal contracting resulting from shareholder/debtholder conflict, agency costs and performance measurement problems; and empirical research on its links with company policy on financing, dividends and compensation. Goes on to discuss research on measuring IOS by using various proxies; and summarizes the main findings.

Original language	English (US)
Pages (from-to)	3-15
Number of pages	13
Journal	Managerial Finance
Volume	27
Issue number	3
DOIs	https://doi.org/10.1108/03074350110767060
State	Published - 2001
Externally published	Yes

Keywords

Accounting research
Business policy
Investment
Measurement
Share prices

ASJC Scopus subject areas

Business, Management and Accounting (miscellaneous)
Finance

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10.1108/03074350110767060

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AB - Explains the concept of the investment set (IOS: i.e. chances to invest for expansion, new products, cost reduction etc.) and its effects on firm value. Reviews previous research on the theoretical relationships between IOS and optimal contracting resulting from shareholder/debtholder conflict, agency costs and performance measurement problems; and empirical research on its links with company policy on financing, dividends and compensation. Goes on to discuss research on measuring IOS by using various proxies; and summarizes the main findings.

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KW - Investment

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KW - Share prices

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The investment opportunity set: Determinants, consequences and measurement

Abstract

Keywords

ASJC Scopus subject areas

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