THIs empirical study extends the author's earlier investigation of the relation- ship between the profitability and size of United Kingdom-based quoted manufacturing companies for the period I94
THE brewing industry in many countries, traditionally characterized by local breweries, has undergone significant structural changes in most industrialized nations.
ALTHOUGH conglomerate firms have been the focus of considerable academic discussion and even antitrust activity, there is still wide disagreement over the nature and even the existence of behavi
IN recent years there has been an emerging trend toward empirical examina- tion of the effects of regulation.
WHILE many aspects of manufacturing industry and the distributive trades have been explored by industrial economists, comparatively little attention has been paid to the analysis of financial ma
THE increasing separation of corporate ownership from managerial control has provided a fertile environment for theories regarding both executive conduct [i; I I; 12; I7] and corporate financial
IN a recent article appearing in this Journal, Holl [2] tests the proposition that firms which are controlled by professional managers will fail to maximise profits.
TJHERE seem to be three main points raised by Professor Lawriwsky's note, one theoretical and the others empirical: first, the utility functions of firms, whether OC or MC, must have more than o
