Timken Professor of Finance, Graduate School of Business, Stanford University. Some of the ideas in this paper resulted from discussions with Keith Ambactsheer, David Howarth, Nancy Jacob, Jay Light, Robert Litzenberger, Barr Rosenberg, James Scott and Polly Shouse. This research was sponsored by the Stanford Program in Finance. Major contributors to the Stanford Program in Finance are: BankAmerica Foundation, The First Boston Corporation, the Chase Manhattan Bank, Continental Bank Foundation, The Dean Witter Foundation, General Electric Company, Goldman, Sachs & Co., Great Western Financial Corporation, E. F. Hutton and Co., Morgan Guaranty Trust Company, Morgan Stanley & Co., Inc., Salomon Brothers, Security Pacific National Bank and Wells Fargo Bank.
Decentralized Investment Management
Version of Record online: 30 APR 2012
© 1981 the American Finance Association
The Journal of Finance
Volume 36, Issue 2, pages 217–234, May 1981
How to Cite
SHARPE, W. F. (1981), Decentralized Investment Management. The Journal of Finance, 36: 217–234. doi: 10.1111/j.1540-6261.1981.tb00436.x
- Issue online: 30 APR 2012
- Version of Record online: 30 APR 2012
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