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A control theory of the firm applied to Australian Manufacturing, 1964-1971.

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Felmingham, B. S.(Bruce Stanley) (1974) A control theory of the firm applied to Australian Manufacturing, 1964-1971. PhD thesis, University of Tasmania.

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Abstract

This thesis has three purposes: firstly, to define
the economic conditions which account for the firm's growth,
decline, diversification and maintenance of its existing size;
secondly, to derive the optimal time-path(s) for the firm's
size index (the capital stock of the firm) resulting from the
operation of optimal managerial policies over a planning horizon
of fixed and finite length; finally, to compare the econometric
performance of the derived definition of the optimal capital
stock with competing hypotheses relating to the optimal capital
stock. The review of the literature in Chapter 2 shows that
the problem has not been systematically treated in the existing
corpus of the theory of the firm.
A dynamical model suited to the requirements of the
problem is formulated in Chapter 3. The firm is viewed as a
control system in which the controllers (the firm's management)
manipulate certain policy variables to achieve a particular
criterion - the intertemporal maximisation of expected profitability
over a planning horizon of fixed and finite length.

Item Type: Thesis (PhD)
Keywords: Business enterprises, Manufacturing industries
Copyright Holders: The Author
Additional Information:

Thesis (Ph.D.)--University of Tasmania, 1976. Bibliography: l. 340-359

Date Deposited: 08 Dec 2014 23:54
Last Modified: 11 Mar 2016 05:56
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