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This is the definitive examination of strategic investment from the viewpoint of the people who run the company - the CEO and principal officers. It includes four case histories that follow specific investment projects from their inception to their approval by top management. It is A Harvard Business School Classics Edition.
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Quirin et al. (Mon,) studied this question.
www.synapsesocial.com/papers/6a105255d478ddac0ffcb379 — DOI: https://doi.org/10.2307/2325773
G. David Quirin
Joseph L. Bower
The Journal of Finance
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