CORPORATE CONTROL AND GROWTH: AN ALTERNATIVE APPROACH

@inproceedings{Mceachern1978CORPORATECA,
  title={CORPORATE CONTROL AND GROWTH: AN ALTERNATIVE APPROACH},
  author={William A. Mceachern},
  year={1978}
}
ECONOMISTS have long expressed dissatisfaction with the neoclassical assumption concerning the manager's single-minded pursuit of profits. Over the past two decades several alternative theories of the firm have been formalized, all suggesting that in the absence of strict product market or capital market constraints, managers pursue goals other than profits. A common thread among these 'managerial' theories is that managers are interested in the power, salary, status, and non-pecuniary benefits… CONTINUE READING