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9780333946428

Modelling the Growth of Corporations Applications for Managerial Techniques and Portfolio Analysis

by ; ;
  • ISBN13:

    9780333946428

  • ISBN10:

    0333946421

  • Format: Hardcover
  • Copyright: 2001-11-17
  • Publisher: Palgrave Macmillan
  • Purchase Benefits
List Price: $120.00 Save up to $84.36
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Summary

This book helps managers and investment analysts understand the value of analyzing the long-run growth processes of corporations. The authors develop an approach for analyzing and modeling the productivity growth of individual corporations and show the importance of corporate culture in determining firm performance in the long-run. The model is explained in clear and non-technical terms, and is backed up by full mathematical proofs in an appendix. The authors use their diversity of experience from the business, academic and policy sectors to demonstrate a range of applications for their model. By applying the ideas of complexity and self-organization to the modern corporation, this book provides an alternative to the standard economic approach to corporate growth.

Author Biography

Jacques Solvay is Honorary Chairman of the Board of Solvay SA and Chairman of the Solvay Institute for Physics and Chemistry.

MichFle Sanglier is Director of the Cellule de Modelisation de la ComplexitT en Sciences Sociales at the Solvay Institute for Physics and Chemistry.

Paul Brenton is Senior Research Fellow at the Centre for European Policy Studies.

Table of Contents

List of Figures
vii
List of Tables and Boxes
x
Foreword xi
Ilya Prigogine
Acknowledgments xv
Introduction: Modern Economic and Corporate Growth
1(10)
General introduction
1(1)
Modern economic growth
2(1)
The growth of companies
3(1)
Corporate culture and the bounded rationality of the individual
4(1)
The boundary of the firm
5(2)
Outline of the book
7(4)
Economic Analysis of Growth: A Review
11(14)
Introduction
11(2)
The traditional or neo-classical approach to economic growth
13(3)
Modern economic theories of growth
16(4)
Approaches to corporate growth
20(3)
Conclusions
23(2)
Modelling the Growth of Corporate Productivity
25(26)
Introduction
25(2)
The complex self-organising enterprise
27(5)
Technical progress
32(3)
The model of the growth of corporate productivity
35(3)
Conclusions
38(13)
Appendix 3.1 Technical description of the model of corporate productivity
39(7)
Appendix 3.2 The calibration of the model
46(5)
Application of the Model as a Management Tool
51(27)
Introduction
51(1)
Analysis of chemicals and pharmaceuticals firms
52(11)
Analysis of electronics firms
63(4)
The relationship between growth of productivity and growth of wages and salaries per head
67(4)
Analysis of business plans
71(5)
Conclusions
76(2)
Quantitative Analysis of Mergers
78(16)
Introduction
78(2)
Merger of Compaq and DEC, 1998
80(4)
Merger of Pfizer and Warner-Lamber, 2000
84(3)
Merger of DOW and Union Carbide, 2000
87(2)
Analysis of historical mergers
89(3)
Conclusions
92(2)
Application of the Model as an Investment Tool
94(11)
Introduction
94(1)
The relation between the trend growth of operating profits and market value
95(3)
The correlation between the return on investment and market value
98(3)
Selecting companies for a long-run investment portfolio
101(2)
Conclusions
103(2)
Conclusions
105(5)
General observations
105(1)
Broad implications for management
106(1)
Implications for the national economy
107(3)
Notes 110(3)
Bibliography 113(2)
Index 115

Supplemental Materials

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