Inhaltsangabe: Abstract: In the 1980s many U.S. companies restructured. This was a reaction to the striking deterioration in the performance of 1970s. In the 1990s studies emerged making similar observations for the European companies (De Jong, 1995). Explanations for this poor performance often focus an the quality of corporate investment decisions. In particular, several authors (Marris, 1964; Mueller, 1972) suggested convincing theoretical arguments...