Business Economics and Managerial Decision Making
暫譯: 商業經濟學與管理決策制定
Trefor Jones
- 出版商: Wiley
- 出版日期: 2004-06-07
- 售價: $1,098
- 語言: 英文
- 頁數: 594
- 裝訂: Paperback
- ISBN: 0470021128
- ISBN-13: 9780471486749
-
相關分類:
經濟學 Economy
下單後立即進貨 (約5~7天)
相關主題
商品描述
Description:
Written primarily for students taking courses in managerial economics in Britain and Europe, The Business Economics and Managerial Decision Making analyses the growth and development of privately owned firms and also the decisions made by firms operating in both private and public sector enterprises. Coverage is clear and concise, and avoids specialist techniques such as linear programming, which in a European context tend to belong in courses dealing with operations research. The book also avoids straying into areas of industrial economics, instead retaining a sharp focus on relevant issues such as the theory of the firm and the varying objectives that may be adopted in practice. Key sections are supported by case studies of real firms and actual decisions made.
Table of Contents:
Preface.
Acknowledgements.
I. Corporate Governance and Business Objectives.
1. Ownership control and corporate governance.
Introduction.
Ownership structures.
Patterns of shareholding.
Classifying firms as owner or management-controlled.
Case Study 1.1 Manchester United – owner or managerially controlled?
Systems of corporate control.
Constraints on managerial discretion.
Improving corporate governance in the UK.
Case Study 1.2 Ownership and governance structures in UK retailing.
Case Study 1.3 Corporate governance in English football.
Chapter summary.
Review questions.
2. Business objectives and theories of the firm.
Introduction.
Profit maximization.
Sales revenue maximization.
Williamson’s Managerial Utility Model.
Behavioural models.
Comparison of behavioural and traditional theories.
Corporate social responsibility.
Owners, managers and performance.
Case Study 2.1 Objectives in company annual reports.
Chapter summary.
Review questions.
3. Risk and uncertainty.
Introduction.
Risk versus uncertainty.
Sources of uncertainty.
Incorporating time and uncertainty into decision making.
Decision trees.
Attitudes to risk and uncertainty.
Case Study 3.1 UK Lottery and risk-loving behaviour.
Indifference curve analysis of risk and return.
Decision making and attitudes to risk.
Limiting the impact of uncertainty.
Case Study 3.2 Uncertainty and business decisions: buses and pharmaceuticals.
Chapter summary.
Review questions.
II Knowing the Market.
4. Consumer behaviour.
Introduction.
Indifference curve analysis.
Characteristics approach to consumer behaviour.
Case Study 4.1 The characteristics approach and the provision of airline services.
Hedonic prices.
Case Study 4.2 Estimating and using hedonic prices: cars and wine.
Behavioural approach to consumer behaviour.
Chapter summary.
Review questions.
5. Demand analysis.
Introduction.
The demand function.
The demand curve.
Market demand.
Demand and revenue.
Elasticity and revenue.
Own price elasticity.
Own price elasticity and marginal revenue.
Case Study 5.1 Own price elasticity and rail travel pricing.
Factors affecting the own price elasticity of demand.
Income elasticity.
Advertising elasticity of demand.
Cross elasticity of demand.
Case Study 5.2 Estimating elasticities for petrol.
Demand elasticities and business.
Chapter summary.
Review questions.
6. Estimation of demand functions.
Introduction.
Estimating demand functions.
Interviews and survey methods.
Questionnaires.
Consumer experiments.
Market studies.
Statistical analysis.
Pitfalls using regression analysis.
The economic verification of regression models.
Statistical verification of regression models.
Econometric verification of the regression estimates.
Case Study 6.1 The demand for beer, wine and spirits.
Chapter summary.
Review questions.
III. Understanding Production and Costs.
7. Production and efficiency.
Introduction.
Production functions.
Isoquant analysis.
Optimal choice of factors.
Technical progress and the shape of isoquants.
Laws of production.
Total, average and marginal product curves.
Empirical production functions.
Case Study 7.1 Production function for a retail chain.
Measuring productivity.
Relative measures of e⁄ciency.
Case Study 7.2 Measuring relative efficiency.
Productivity differences.
Case Study 7.3 Explaining productivity differences in the biscuit industry.
Country differences in productivity.
Chapter summary.
Review questions.
8. Costs.
Introduction.
Short-run cost curves.
Long-run cost curves.
Costs and the multi-product firm.
Economics versus accounting cost concepts.
Empirical cost analysis.
Case Study 8.1 Estimating cost functions for hospitals.
Cost concepts and strategic advantage.
Case Study 8.2 Economies of scope in car production.
Case Study 8.3 Economies of scale in building societies and insurance companies.
Management of costs.
Chapter summary.
Appendix: statistical cost functions.
Review questions.
IV. Pricing, Promotional and Investment Policies.
9. Pricing and market structure: theoretical considerations.
Introduction.
Perfect competition.
Monopolistic competition.
Oligopoly.
Kinked demand curve model.
Bertrand oligopoly.
Cournotoligopoly.
Collusion and cheating.
Gametheory.
Non-zero sum game.
Price stickiness.
Collusive oligopoly.
Cartels.
Case Study 9.1 The vitamin cartel and the EU.
Tacit collusion.
Case Study 9.2 Price leadership in the salt industry.
Case Study 9.3 UK digital television.
Chapter summary.
Review questions.
10. Pricing in practice.
Introduction.
The nature of price.
Dominant-firm pricing and consumer surplus.
Price discrimination.
Case Study 10.1 Licence auction: third-generation mobile phones.
Two-part tariffs.
Peak load pricing.
Case Study 10.2 BT’s pricing structure.
Pricing in imperfect markets.
Studies of pricing.
Analytics of average cost pricing.
Other considerations in setting price.
Chapter summary.
Review questions.
11. Advertising.
Introduction.
Roles of advertising.
Advertising and changing consumer preferences.
Advertising: price and demand.
Advertising and costs.
Sales and advertising.
Optimal level of advertising.
Which products do firms advertise?
Advertising and market structure.
Advertising as investment.
Branding.
Case Study 11.1 Tobacco advertising.
Chapter summary.
Review questions.
12. Investment appraisal.
Introduction.
Basic steps in investment appraisal.
Estimating cash flows.
Time and the value of money.
Discounting and present value.
Ranking of projects and the capital-spending plan.
Non-discounting methods of investment appraisal.
Capital rationing and the capital-spending plan.
Incorporating risk and uncertainty.
Coping with uncertainty.
The cost of capital.
The risk premium and the discount rate for capital investment.
Capital budgeting in large British businesses.
Case Study 12.1 Assessing the Concorde programme.
Chapter summary.
Review questions.
V. Strategic Decisions: The Growth and Development of the Firm.
13. The entrepreneur and the development of the firm.
Introduction.
Entrepreneurship.
Economic developments.
A behavioural explanation of entrepreneurship.
Entrepreneurship and the development of the firm.
The birth of the firm.
Characteristics of new-firm founders.
The formation of new firms in the UK.
Case Study 13.1 Sir Richard Branson and the Virgin Group.
Chapter summary.
Review questions.
14. The boundaries of the firm.
Introduction.
Transaction cost approach.
Transaction costs.
Information, imperfect markets and transaction costs.
Williamson’s analysis.
Knowledge-based theory of the firm.
The firm as a team.
The firm as a nexus of contracts.
Case Study 14.1 The changing distribution of Coca-Cola and Pepsi: a transaction cost explanation.
Chapter summary.
Review questions.
15. The growth of the firm.
Introduction.
Motives for growth.
A simple growth model.
Baumol’s dynamic sales growth model.
Marris’s model of managerial enterprise.
Diversification and the growth of the firm.
Endogenous growth theory of the firm.
Limits to growth.
Limits to growth: empirical evidence.
Resources and competences.
Case Study 15.1 Stagecoach: core competences.
The development of the firm.
Chapter summary.
Review questions.
16. Changing the boundaries of the firm: vertical integration.
Introduction.
Concept of vertical integration.
Case Study 16.1 Production linkages in the oil industry.
Motivation to vertically integrate.
Traditional explanations.
Uncertainty and security of supply.
Alternative explanations of vertical integration.
Case Study 16.2 Kuwait National Oil Company.
Case Study 16.3 Fisher Bodies and General Motors.
Vertical integration and profitability.
Chapter summary.
Review questions.
17. Changing the boundaries of the firm: diversification.
Introduction.
Directions of diversification.
Related and unrelated diversification.
The firm’s portfolio of activities.
Economic arguments for diversification.
Benefits and costs of diversification.
The performance of diversified firms.
Case Study 17.1 Virgin Group – diversification and branding.
Case Study 17.2 US oil industry: related and unrelated diversification.
Case Study 17.3 Hanson Trust: its rise and dismemberment.
Chapter summary.
Review questions.
18. Changing the boundaries of the firm: divestment and exit.
Introduction.
Exit decisions in competitive markets.
Exit decisions in oligopolistic markets.
Factors encouraging exit.
Factors keeping the firm in the market: exit barriers.
Bankruptcy.
Case Study 18.1 ITV Digital terrestrial service.
Chapter summary.
Review questions.
19. Changing the boundaries of the firm: mergers.
Introduction.
Mergers, acquisitions and takeovers.
Types of mergers.
Numbers of mergers in the UK.
Motives for merging.
Case Study 19.1 Ford’s acquisition of Kwik-Fit – a corporate error?
The merger process.
Indicators of the success or failure of mergers.
Case Study 19.2 Granada–Forte takeover battle in 1995–1996.
Chapter summary.
Review questions.
20. Organizational issues and structures.
Introduction.
Principal-agent analysis.
Effort, outcomes and rewards.
Case Study 20.1 Sliding-scale payments in coal mining.
Case Study 20.2 Managerial incentive schemes.
Organizational structures.
U-form organizations.
M-form organizations.
Case Study 20.3 Organizational form – empirical studies.
Limits to growth and size of the firm.
Chapter summary.
Review questions.
21. The growth and development of the firm: Stagecoach Group Plc.
Introduction.
The bus industry.
Government policy changes in the bus industry^ creating opportunities.
Stagecoach start-up.
Stagecoach: growth and development.
Stagecoach in 2003.
Chapter summary.
Review questions.
VI. Decision Making in the Regulated and Public Sectors.
22. Decision making in regulated businesses.
Introduction.
What is regulation?
Regulatory tools for promoting the public interest.
Case Study 22.1 Regulating BT.
Competition policy.
Anti-competitive behaviour, or what firms cannot do.
Methodology of competition policy.
Competition policy in the EU.
Case Study 22.2 Air tours and First Choice – a rejected merger.
UK competition policy.
Case Study 22.3 Interbrew and the UK’s competition regulators.
Chapter summary.
Review questions.
23. Public sector production.
Introduction.
Why public sector production?
Externalities.
Characteristics of goods: excludability and rivalry.
Provision of goods by the public and private sector.
Arguments for public production.
Organizational issues.
Public enterprise.
Property rights approach.
Incentives and monitoring.
Public enterprise versus private enterprise performance compared.
Case Study 23.1 The postal service.
Chapter summary.
Review questions.
24. Quasi-markets and non-market public sector.
Introduction.
Decision making in the absence of prices.
Supply: economic analysis of bureaucracy.
Demand: merit and public goods.
Collective decision making.
Exit, voice, loyalty.
Consumer difficulties and public supply.
Theory of quasi, or internal, markets.
Case Study 24.1 Health reform: the quasi-market approach.
Chapter summary.
Review questions.
25. Cost-benefit analysis.
Introduction.
Public and private investment.
Theoretical foundations of cost-benefit analysis.
Which benefits and costs?
Measuring benefits and costs.
The value of time.
The value of life.
Case Study 25.1 Train protection systems and the saving of lives.
The choice of discount rate.
Case Study 25.2 Measuring the social benefits of a railway: the Cambrian Coast Line.
Consistency of approach.
Chapter summary.
Review questions.
Glossary.
Index.
商品描述(中文翻譯)
**描述：**
本書主要為英國和歐洲的管理經濟學課程學生所撰寫，《商業經濟學與管理決策》分析了私營企業的增長與發展，以及在私營和公共部門企業中運作的公司所做的決策。內容清晰簡潔，避免使用如線性規劃等專業技術，這在歐洲的背景下通常屬於運營研究課程的範疇。本書也避免偏離產業經濟學的領域，而是專注於相關議題，如公司的理論及實務中可能採用的不同目標。關鍵部分由真實企業的案例研究和實際決策支持。
**目錄：**
前言。
致謝。
**I. 企業治理與商業目標。**
**1. 所有權控制與企業治理。**
引言。
所有權結構。
股權模式。
將公司分類為所有者或管理層控制。
案例研究 1.1 曼聯 – 所有者還是管理層控制？
企業控制系統。
對管理裁量權的限制。
改善英國的企業治理。
案例研究 1.2 英國零售業的所有權與治理結構。
案例研究 1.3 英國足球的企業治理。
章節摘要。
回顧問題。
**2. 商業目標與公司的理論。**
引言。
利潤最大化。
銷售收入最大化。
威廉姆森的管理效用模型。
行為模型。
行為理論與傳統理論的比較。
企業社會責任。
所有者、管理者與績效。
案例研究 2.1 公司年報中的目標。
章節摘要。
回顧問題。
**3. 風險與不確定性。**
引言。
風險與不確定性。
不確定性的來源。
將時間與不確定性納入決策。
決策樹。
對風險與不確定性的態度。
案例研究 3.1 英國彩票與風險偏好行為。
風險與回報的無差異曲線分析。
決策與對風險的態度。
限制不確定性的影響。
案例研究 3.2 不確定性與商業決策：巴士與製藥。
章節摘要。
回顧問題。
**II 瞭解市場。**
**4. 消費者行為。**
引言。
無差異曲線分析。
特徵方法的消費者行為。
案例研究 4.1 特徵方法與航空服務的提供。
享樂價格。
案例研究 4.2 估算與使用享樂價格：汽車與葡萄酒。
行為方法的消費者行為。
章節摘要。
回顧問題。
**5. 需求分析。**
引言。
需求函數。
需求曲線。
市場需求。
需求與收入。
彈性與收入。
自身價格彈性。
自身價格彈性與邊際收入。
案例研究 5.1 自身價格彈性與鐵路旅行定價。
影響自身需求價格彈性的因素。
收入彈性。
廣告需求彈性。
交叉需求彈性。
案例研究 5.2 估算汽油的彈性。
需求彈性與商業。
章節摘要。
回顧問題。
**6. 需求函數的估算。**
引言。
估算需求函數。
訪談與調查方法。
問卷調查。
消費者實驗。
市場研究。
統計分析。
使用回歸分析的陷阱。
回歸模型的經濟驗證。
回歸模型的統計驗證。
回歸估計的計量經濟學驗證。
案例研究 6.1 啤酒、葡萄酒與烈酒的需求。
章節摘要。
回顧問題。
**III. 理解生產與成本。**
**7. 生產與效率。**
引言。
生產函數。
等產量分析。
要素的最佳選擇。
技術進步與等產量曲線的形狀。
生產法則。
總產品、平均產品與邊際產品曲線。
實證生產函數。
案例研究 7.1 零售連鎖的生產函數。
衡量生產力。
相對效率的衡量。
案例研究 7.2 衡量相對效率。
生產力差異。
案例研究 7.3 解釋餅乾產業的生產力差異。
各國生產力的差異。
章節摘要。
回顧問題。
**8. 成本。**
引言。
短期成本曲線。
長期成本曲線。
多產品公司的成本。
經濟成本與會計成本概念的區別。
實證成本分析。
案例研究 8.1 醫院的成本函數估算。
成本概念與戰略優勢。
案例研究 8.2 汽車生產的範疇經濟。
案例研究 8.3 建築社與保險公司的規模經濟。
成本管理。
章節摘要。
附錄：統計成本函數。
回顧問題。
**IV. 價格、促銷與投資政策。**
**9. 價格與市場結構：理論考量。**
引言。
完全競爭。
壟斷競爭。
寡頭壟斷。
彎曲需求曲線模型。
伯特朗寡頭壟斷。
庫爾諾寡頭壟斷。
共謀與欺騙。
博弈理論。
非零和遊戲。
價格黏性。
共謀寡頭壟斷。
卡特爾。
案例研究 9.1 維他命卡特爾與歐盟。
默契共謀。
案例研究 9.2 鹽業的價格領導。
案例研究 9.3 英國數位電視。
章節摘要。
回顧問題。
**10. 實務中的定價。**
引言。
價格的本質。
