Managerial Finance: Volume 4 Issue 1

Financial Objectives: The Traditional Approach

Christopher Pass, Richard Dobbins

The objective traditionally attributed to firms is maximisation of profits. In more recent years this has been replaced with the financial objective of maximisation of shareholder…

Managerial Theories of the Firm

Christopher Pass, Bryan Lowes

The continuing growth in the size and importance of very large joint‐stock companies in the modern economy has prompted a search for new theories of the firm which are more…

The Ownership of British Industry

Richard Dobbins, Christopher Pass

Many modern theories of managerial behaviour are based on the initial observation of the separation of ownership and control. This article is concerned with the ownership of…

Financial Objectives and Directors' Remuneration

Richard Dobbins, Bryan Lowes

The theory of financial management suggests that the objective of the firm is to maximise shareholder wealth. The valuation of the firm is its net operational cash flows…

A Study of Directors' Remuneration in Thirty‐Eight Large Companies

Richard Dobbins, Bryan Lowes, Christopher Pass

Are directors remunerated as administrators or entrepreneurs? The theory of finance suggests that the objective of the firm is to maximise shareholder wealth or the current market…

Objective Setting: A Corporate Planning Approach

Bryan Lowes, Richard Dobbins

Business objectives play a vital role in providing direction and purpose for a company. Just as an individual cannot plan a route for a journey until he determines his…

Corporate Social Objectives

Bryan Lowes, Christopher Pass

Mounting public criticism of big business has forced the managers of large companies to reappraise their relationships with employees, consumers and the community as they have…