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9783642778865

Dynamic Policies of the Firm

by ; ;
  • ISBN13:

    9783642778865

  • ISBN10:

    3642778860

  • Edition: Reprint
  • Format: Paperback
  • Copyright: 2011-12-08
  • Publisher: Springer Verlag
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List Price: $139.99

Summary

This book belongs to the realm of dynamic theory of thefirm. It discusses optimal investment, financing andproduction policies of the firm, that haveto deal with adiversity of aspects: alternative production techniques,financial constraints, technological progress, businesscycles, uncertainty, environmental constraints, etc. Thebook studies how debt financing may facilitate expansion andhow cost prices, prices of capital goods and investmentgrants influence depth investment decisions. Optimalinvestment decisions are analysed while taking into accounttaxation on environmental pollution, business cycles,adjustmentcosts and technological progress. Results areobtained by using Optimal Control Theory. The models lead todescriptions of growth and decline patterns of firms like wemeet them in practice: distinctive stages succeeding eachother, each with its own emphasis on specific managementpolicies (growth, consolidation, depth investments,abatementefforts, etc.).

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