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Managerial Discretion In Imperfect Markets
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Book Synopsis Managerial Discretion in Imperfect Markets by : T. V. S. Ramamohan Rao
Download or read book Managerial Discretion in Imperfect Markets written by T. V. S. Ramamohan Rao and published by Springer Nature. This book was released on 2023-05-30 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with behavioral responses of management of firms that make several decisions with respect to production, marketing, finance, organization of activities within divisions, and interrelations between divisions (including synergies between them and constraints placed on each other in the attainment of overall goals of the firm). The market conditions, that constitute the basis of such decisions, may be stable, random but predictable, or uncertain. It can be expected that objectives attained by the firm, as a result of decisions of management, may be different from the maximum which can be achieved. A generic conceptualization of such managerial discretion and operationally useful methods of measurement have been presented. It is possible to develop machine learning algorithms on this basis to minimize managerial discretion and assist managers in arriving at strategic decisions thereby leaving more resources to deal with uncertain events as they arise. The volume is a great resource not only for researchers, but also decision makers in corporates.
Book Synopsis The Struggle for Control of the Modern Corporation by : Robert F. Freeland
Download or read book The Struggle for Control of the Modern Corporation written by Robert F. Freeland and published by Cambridge University Press. This book was released on 2001 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the changes in General Motors' organization between 1924 and 1970.
Download or read book Evolving Firm written by Neil M. Kay and published by Springer. This book was released on 1982-06-18 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Social Responsibility in India by : C. Gopala Krishna
Download or read book Corporate Social Responsibility in India written by C. Gopala Krishna and published by Mittal Publications. This book was released on 1992 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Globalization of Corporate Governance by : Alan Dignam
Download or read book The Globalization of Corporate Governance written by Alan Dignam and published by Routledge. This book was released on 2016-03-09 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: The process of economic globalization, as product and capital markets have become increasingly integrated since WWII, has placed huge, and it is argued by some, irresistible pressures on the world's 'insider' stakeholder oriented corporate governance systems. Insider corporate governance systems in countries such as Germany, so the argument goes, should converge or be transformed by global product and capital market pressures to the 'superior' shareholder oriented 'outsider' corporate governance model prevalent in the UK and the US. What these pressures from globalization are, how they manifest themselves, whether they are likely to cause such a convergence/transformation and whether these pressures will continue, lie at the heart of the exploration in this volume. The Globalization of Corporate Governance provides a detailed analysis of the evolution of the key corporate governance systems in the UK, the US and Germany from the perspective of the development of economic globalization. As such it is a valuable resource for those interested in how economic and legal reforms interact to produce change within corporate governance systems.
Book Synopsis Managerial Discretion, Corporate Financial Flexibility, and Investment Dynamics by : Mohammad Mozahidur Rahaman
Download or read book Managerial Discretion, Corporate Financial Flexibility, and Investment Dynamics written by Mohammad Mozahidur Rahaman and published by . This book was released on 2009 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation, I try to advance our understanding of how managerial discretion and corporate financial flexibility affect various corporate outcomes such as failure, excessive (sub-optimal) continuation, firm growth and investment, in three novel ways. First, I show that the empirical effect of finance is not merely a misspecified real influence but rather that the financial structure of firms matter for firm growth and investment where the real effects of finance arise out of the imperfect substitutability between internal funding and external private credit. Second, using managerial mergers and acquisitions (M&A) investment decisions as an identification mechanism, I find that managerial discretion combined with corporate financial flexibility may lead to distortions in corporate investment and financing policies, and those distortions cost the various stakeholders of the firm dearly. Furthermore, using another sample of distressed firms worth more dead than alive, I, along with a co-author, show that most of these firms continue operations long after the optimal exit time. The failure to liquidate costs the typical sample firm over three years 8.7% of its assets in lost earnings relative to the industry median. Finally, I find that capital market does not fully internalize the costs associated with managerial sub-optimal behaviors in the short run. Although the market disciplines managerial sub-optimal behaviors in the long run, the market disciplinary mechanisms may not be swift enough to forestall falling values for the various stakeholders of the firm.Succinctly, the findings in this dissertation suggest that managerial discretion and corporate financial flexibility entail real consequences for various firm dynamics. The traditional line of argument, "Blame It on the Market," may not be well grounded, and firms need to carefully examine their investments and financing policies in good times to cushion against systematic shocks in bad times.
Book Synopsis Managerial Discretion, Corporate Financial Flexibility, and Investment Dynamics by : Mohammad Mozahidur Rahaman
Download or read book Managerial Discretion, Corporate Financial Flexibility, and Investment Dynamics written by Mohammad Mozahidur Rahaman and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation, I try to advance our understanding of how managerial discretion and corporate financial flexibility affect various corporate outcomes such as failure, excessive (sub-optimal) continuation, firm growth and investment, in three novel ways. First, I show that the empirical effect of finance is not merely a misspecified real influence but rather that the financial structure of firms matter for firm growth and investment where the real effects of finance arise out of the imperfect substitutability between internal funding and external private credit. Second, using managerial mergers and acquisitions (M & A) investment decisions as an identification mechanism, I find that managerial discretion combined with corporate financial flexibility may lead to distortions in corporate investment and financing policies, and those distortions cost the various stakeholders of the firm dearly. Furthermore, using another sample of distressed firms worth more dead than alive, I, along with a co-author, show that most of these firms continue operations long after the optimal exit time. The failure to liquidate costs the typical sample firm over three years 8.7% of its assets in lost earnings relative to the industry median. Finally, I find that capital market does not fully internalize the costs associated with managerial sub-optimal behaviors in the short run. Although the market disciplines managerial sub-optimal behaviors in the long run, the market disciplinary mechanisms may not be swift enough to forestall falling values for the various stakeholders of the firm. Succinctly, the findings in this dissertation suggest that managerial discretion and corporate financial flexibility entail real consequences for various firm dynamics. The traditional line of argument, "Blame It on the Market," may not be well grounded, and firms need to carefully examine their investments and financing policies in good times to cushion against systematic shocks in bad times.
Download or read book Company Law written by Alan J. Dignam and published by Oxford University Press, USA. This book was released on 2014 with total page 575 pages. Available in PDF, EPUB and Kindle. Book excerpt: With particular emphasis on corporate governance and the theoretical bases underlying company law, this book focuses on key principles taught on undergraduate courses and is highly praised for its clarity of explanation and authoritative style.
Book Synopsis Money, Markets, and Mobility by : Robert A. Mundell
Download or read book Money, Markets, and Mobility written by Robert A. Mundell and published by IRPP. This book was released on 2002 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money, Markets, and Mobility celebrates the research and ideas of Canadian-born 1999 Nobel Laureate Robert A. Mundell.
Book Synopsis MANAGERIAL ECONOMICS, Third Edition by : NADAR, E. NARAYANAN
Download or read book MANAGERIAL ECONOMICS, Third Edition written by NADAR, E. NARAYANAN and published by PHI Learning Pvt. Ltd.. This book was released on 2020-06-01 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managerial Economics has assumed a predominant role in today's globalized and liberalized economy because of the financial implications of many decisions that a manager has to take in his day-to-day professional life. This comprehensive and student-friendly book strives to equip the young, practising and budding managers to find solutions to the real-world problems through the efficient and effective use of economic tools and techniques. The authors who admirably combine academic and professional experience give a clear and straightforward analysis of the various topics in managerial economics. The text begins with an overview of managerial economics and describes the modern business firm and its objectives along with the concepts of market mechanism, demand theory and production analysis. The text then moves further to explain managerial techniques, macroeconomic theory and international trade and finance along with the risks and uncertainties involved in business. Besides, it also explains the cost and revenue, supply, pricing, profit and investment analyses. Finally, this book discusses some important Case Studies to reinforce the concepts presented in the text. The third edition of the book comprises multiple choice questions (with answers) at the end of each chapter to test the understanding of the concepts discussed in the chapter. Besides, the objectives, strategies and initiatives of the twelfth five year plan (2012–2017) of Planning Commission as well as a new section on Replacement of Indian Planning Commission with NITI Aayog have been incorporated in the chapter on Macroeconomic Analysis. Intended as a text for postgraduate students of Management, Commerce and Economics, the book would also be useful for undergraduate engineering courses where Managerial Economics is offered. Finally, the book can be profitably used by marketing and management consultants, business executives and other related professionals. KEY FEATURES • Includes several simple, numerical examples with solutions for easy understanding of theory. • Contains a large number of tables and figures to illustrate the concepts. • Provides chapter-end exercises to check students' comprehension of the subject. TARGET AUDIENCE • MBA • M.Com • M.A. Economics
Book Synopsis The Economic Intstitutions of Capitalism by : Oliver E. Williamson
Download or read book The Economic Intstitutions of Capitalism written by Oliver E. Williamson and published by Simon and Schuster. This book was released on 1985 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: This long-awaited sequel to the modem classic "Markets and Hierarchies" develops and extends Williamson's innovative use of transaction cost economics as an approach to studying economic organization by applying it to work and labor as well as the corporation itself. In addition, Williamson explores its growing implications for public policy, including its potential influence on antitrust and merger guidelines, labor policy, and SEC and public utility regulations.
Download or read book Bank Performance written by Jacob Bikker and published by Routledge. This book was released on 2008-10-27 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic literature pays a great deal of attention to the performance of banks, expressed in terms of competition, concentration, efficiency, productivity and profitability. This book provides an all-embracing framework for the various existing theories in this area and illustrates these theories with practical applications. Evaluating a broad field of research, the book describes a profit maximizing bank and demonstrates how several widely-used models can be fitted into this framework. The authors also present an overview of the current major trends in banking and relate them to the assumptions of each model, thereby shedding light on the relevance, timeliness and shelf life of the various models. The results include a set of recommendations for a future research agenda. Offering a comprehensive analysis of bank performance, this book is useful for all of those undertaking research, or are interested, in areas such as banking, competition, supervision, monetary policy and financial stability.
Book Synopsis Readings in Industrial Economics by : Charles K. Rowley
Download or read book Readings in Industrial Economics written by Charles K. Rowley and published by Springer. This book was released on 1972-11-16 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Supply in a Market Economy by : Richard Jones
Download or read book Supply in a Market Economy written by Richard Jones and published by Routledge. This book was released on 2021-11-21 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1976, Supply in a Market Economy was a new kind of introductory micro-economics text which both assesses the usefulness of traditional theory in tackling social and economic problems and compares and contrasts the alternative approaches to the practical problems inherent in the allocation of scarce resources. Richard Jones has succeeded in bringing together the most useful features of a standard microeconomics theory book with empirical and applied material more usually dealt with separately in second year surveys of industrial organisation. The book gives full coverage to the standard theories of the firm, of production, of cost and scale, and of location, to recent critiques of these theories and to alternative approaches now being proposed. Integrated into this theoretical background is a clear analysis of the relationship of these theories to market structures and the economics of industry, and a ‘real-world’ examination of markets in action – with individual sections on the control of rents, on the water supply industry, on the effect of taxation on commodities, and on the economics of crime and its prevention. Supply in a Market Economy would prove to be an invaluable new course-book for first and second year students of microeconomics at the time and particularly for those non-specialists who were impatient to see the relevance and applications of traditional theory to real problems. Now it can be read in its historical context.
Book Synopsis Social Capital, Corporate Governance and Managerial Discretion by : Andrej Rus
Download or read book Social Capital, Corporate Governance and Managerial Discretion written by Andrej Rus and published by . This book was released on 1999 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Oil Business and the State by : Øystein Noreng
Download or read book The Oil Business and the State written by Øystein Noreng and published by Routledge. This book was released on 2021-10-18 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: National oil companies are big business with about 80 percent of the world’s proven oil reserves, and they are crucial to the world’s energy supplies. They are giants, some of the world’s largest companies, measured by market capitalisation, cash flow and investment. Little is known about their modus operandi, how they make decisions about investment and production or about relations with their government-owners. However, it is known that they conduct business with a political mandate, often with multiple long-term objectives, broadly defined and hard to quantify. Unclear mandates give national oil companies leeway to pursue their own distinctive interests, apart from those of the government-owner. As investors, governments are less zealous than private investors. They generally observe multiple objectives, not only return on capital. Therefore, the senior management of national oil companies enjoy more discretionary power and consider longer time horizons than their counterparts in the private sector. The Oil Business and the State explains the practice of state ownership in a capital-intensive industry with high risks and high return, and how these companies act in a market with imperfect competition. This book looks to give readers more insight into the oil industry, into the background of oil exporting countries as well as the economic and political challenges confronting them, including problems of state ownership. The book discusses wider consequences of China replacing the United States as the world’s leading oil importer. It will be of interest to researchers, academics and students in the fields of international business, management history, corporate governance, political economy and economic development of oil-rich countries.
Book Synopsis Recent Developments in the Theory of Industrial Organization by : Alfredo Del Monte
Download or read book Recent Developments in the Theory of Industrial Organization written by Alfredo Del Monte and published by Springer. This book was released on 2016-07-27 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: New forms of organisation and market behaviour are emerging to replace and reshape older forms. This has produced great uncertainty in industrial organization theory. The purpose of this volume is to review and present some of the new approaches developed in industrial organization. The material is organised into four sections: recent approaches to Industrial Organisation, the behaviour of individual firms and the characteristics of industrial systems as a whole, new theories of the firm and market structure and technical progress and market structure - some special issues.
