Behaviour of Firm in Theory and Practice
The following points highlight the three main aspects of behaviour of firm in theory and practice. The aspects are: 1. Managerial Revolution 2. Executive Compensation 3. Discretionary Profit. Aspect # 1. Managerial Revolution: The second half of the 'past century and the first half of the present saw the development of the limited liability joint-stock enterprises. As Martin Ricketts has [...]