If we accept that informed skepticism is the best general approach to decision making, then this research suggests that the key to conducting good analysis lies in its ability to generate conflict.

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In 1920, HBS innovated the case method of research and teaching where students literally sink or swim entirely on the basis of their ability to persuade peers that their analysis and recommended course of action is the right one for the company in question.

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The second caveat refers to the ability of our empirical analysis in isolating the effects of the internal capital markets.

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