CAPABILITIES AND CAPITAL INVESTMENT: NEW PERSPECTIVES ON CAPITAL BUDGETING

Abstract

Journal of Applied Corporate FinanceVolume 5, Issue 2 p. 67-82 CAPABILITIES AND CAPITAL INVESTMENT: NEW PERSPECTIVES ON CAPITAL BUDGETING CARLISS Y. Baldwin, CARLISS Y. Baldwin William L. White Professor of Business Administration at the Harvard Business School. Prepared for the Project on Capital Choices, sponsored by the Harvard Business School and the Council on Competitiveness. The authors wish to thank Alan Blinder, Alfred Chandler, Jr., Warren Farb, Thèrése Flaherty, Robert Hayes, Robert C. Merton, James McKenney, Richard Nelson, Michael Porter, Richard Rosenbloom, Jeremy Stein, John Sutton, John Sviokla, and the Advisory Board of the Council on Competitiveness for comments and discussions that led to significant improvements in this paper. We also thank Don Chew for very useful editorial suggestions. Any errors or omissions are ours alone. The financial support of the Harvard Business School and the Alfred P. Sloan Foundation is gratefully acknowledged.Search for more papers by this authorKim B. Clark, Kim B. Clark Harry E. Figgie Professor of Business Administration at the Harvard Business School. Prepared for the Project on Capital Choices, sponsored by the Harvard Business School and the Council on Competitiveness. The authors wish to thank Alan Blinder, Alfred Chandler, Jr., Warren Farb, Thèrése Flaherty, Robert Hayes, Robert C. Merton, James McKenney, Richard Nelson, Michael Porter, Richard Rosenbloom, Jeremy Stein, John Sutton, John Sviokla, and the Advisory Board of the Council on Competitiveness for comments and discussions that led to significant improvements in this paper. We also thank Don Chew for very useful editorial suggestions. Any errors or omissions are ours alone. The financial support of the Harvard Business School and the Alfred P. Sloan Foundation is gratefully acknowledged.Search for more papers by this author CARLISS Y. Baldwin, CARLISS Y. Baldwin William L. White Professor of Business Administration at the Harvard Business School. Prepared for the Project on Capital Choices, sponsored by the Harvard Business School and the Council on Competitiveness. The authors wish to thank Alan Blinder, Alfred Chandler, Jr., Warren Farb, Thèrése Flaherty, Robert Hayes, Robert C. Merton, James McKenney, Richard Nelson, Michael Porter, Richard Rosenbloom, Jeremy Stein, John Sutton, John Sviokla, and the Advisory Board of the Council on Competitiveness for comments and discussions that led to significant improvements in this paper. We also thank Don Chew for very useful editorial suggestions. Any errors or omissions are ours alone. The financial support of the Harvard Business School and the Alfred P. Sloan Foundation is gratefully acknowledged.Search for more papers by this authorKim B. Clark, Kim B. Clark Harry E. Figgie Professor of Business Administration at the Harvard Business School. Prepared for the Project on Capital Choices, sponsored by the Harvard Business School and the Council on Competitiveness. The authors wish to thank Alan Blinder, Alfred Chandler, Jr., Warren Farb, Thèrése Flaherty, Robert Hayes, Robert C. Merton, James McKenney, Richard Nelson, Michael Porter, Richard Rosenbloom, Jeremy Stein, John Sutton, John Sviokla, and the Advisory Board of the Council on Competitiveness for comments and discussions that led to significant improvements in this paper. We also thank Don Chew for very useful editorial suggestions. Any errors or omissions are ours alone. The financial support of the Harvard Business School and the Alfred P. Sloan Foundation is gratefully acknowledged.Search for more papers by this author First published: Summer 1992 https://doi.org/10.1111/j.1745-6622.1992.tb00491.xCitations: 61 AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Citing Literature Volume5, Issue2Summer 1992Pages 67-82 RelatedInformation