A CONTRIBUTION TO THE THEORY OF CAPITAL BUDGETING—THE MULTI-INVESTMENT CASE

Authors

  • Pao L. Cheng,

    Professor of FinanceSearch for more papers by this author
    • Lecturer in Finance, Graduate School of Business Administration, University of California, Los Angeles.
  • John P. Shelton

    Lecturer in FinanceSearch for more papers by this author
    • The authors are grateful for financial assistance to support this study furnished by the Faculty Research Grant of the University of Massachusetts and by the Bureau of Business and Economic Research at U.C.L.A., and to the Ford Foundation for bringing them together at a summer program in the Application of Mathematics to Business held at Ann Arbor, Michigan.

  • Professor of Finance, School of Business Administration, University of Massachusetts.

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