Multinational and multiproduct firms often experience uncertainty in the relative return of conducting activities in different markets due to, for example, exchange rate volatility or the changing prospects of different products. We study how a multi-divisional organization should optimally...

In recent years there has been increased concern about the effectiveness of nonprofit organizations, particularly in the US. Foundations in particular have increased investments in what they call “capacity building” and have formed an affinity group called Grantmakers for Effective...