Rates of Return on Corporate Investment

@article{Mueller1993RatesOR,
  title={Rates of Return on Corporate Investment},
  author={Dennis C. Mueller and Elizabeth A. Reardon},
  journal={Southern Economic Journal},
  year={1993},
  volume={60},
  pages={430}
}
In the last two decades productivity has lagged in the United States, markets have been lost to foreign competition, real income per capita has grown slowly. This experience has led to considerable discussion of possible causes [7]. One possible cause often mentioned is the quality of managerial investment decisions. Managers have been accused of overinvesting in obsolete technologies, of underinvesting in risky projects with long run payoffs, of undertaking unprofitable mergers, and of overall… 

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