What is meant by the term corporate drag? Have seen this in some valuation analyses associated with a numerical cost value, but googling terms like "corporate drag" or "corporate drag value" do not appear to yield any results on the term.
The answer appears to be be found here (https://books.google.com/books?id=-YZXDwAAQBAJ&lpg=PT929&ots=fB1RBC42rt&dq=%22corporate%20drag%22%20costs&pg=PT922#v=onepage&q=%22corporate%20drag%22%20costs&f=false) in a snippet of a book by Professor Aswath Damodaran covering the valuation of user-based companies:
corporate drag -- those expenses that are indespensible to business existence but are unrelated to users - and netting that value out of the user value
value of a user-based company = (value of existing users) + (value of new users) - (value of corporate drag)
If there is a more general description of drag or corporate drag that I am missing here, anyone please let me know.