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Managerial Discretion and Performance in China: Towards Resolving the Discretion Puzzle for Chinese Companies and Multinationals
by Hagen WülferthThe theoretical and empirical literature to date has fallen short of reaching a consensus as to whether granting more managerial discretion to managers tends to enhance, not alter or diminish organizational performance (the discretion puzzle). This book aims to build a bridge between these contradictory results by synthesising principal-agent theory, stewardship theory, and managerial discretion theory into a new empirically-validated model. Using a representative sample of 'double-blind' interviews with managers of 467 firms in China and applying partial least squares path modelling (PLS), the study identifies a potential cause of the discretion puzzle: the failure of the extant literature to account for granularity in the way that managers use their discretion. This generates far-reaching implications for theoretical and empirical research as well as practical recommendations for managing managers in multinationals and Chinese companies.
Managerial Discretion in Imperfect Markets
by T. V. Ramamohan RaoThis book deals with behavioral responses of management of firms that make several decisions with respect to production, marketing, finance, organization of activities within divisions, and interrelations between divisions (including synergies between them and constraints placed on each other in the attainment of overall goals of the firm). The market conditions, that constitute the basis of such decisions, may be stable, random but predictable, or uncertain. It can be expected that objectives attained by the firm, as a result of decisions of management, may be different from the maximum which can be achieved. A generic conceptualization of such managerial discretion and operationally useful methods of measurement have been presented. It is possible to develop machine learning algorithms on this basis to minimize managerial discretion and assist managers in arriving at strategic decisions thereby leaving more resources to deal with uncertain events as they arise. The volume is a great resource not only for researchers, but also decision makers in corporates.
Managerial Duties and Business Law
by Joseph L. Badaracco Jr. Jerry UseemConsists of excerpts from Principles of Corporate Governance, a set of legal guidelines that enumerates the principal duties of corporate managers and directors, including fiduciary duty, duty of care, and duty of fair dealing. Also addresses legal obligations relating to tender offers and the supervision of employees.
Managerial Economics
by Ivan PngNow in its sixth edition, Ivan Png's Managerial Economics has been extensively revised with an introductory chapter emphasizing decision-making and behavioral biases, intensive application to current business and economic issues including technology, globalization, and pandemics, a closing chapter highlighting business responses to climate change, a streamlined presentation focusing on the economics that managers need to know. As always, the text presents the key concepts of microeconomics intuitively, without sophisticated mathematics. Throughout, it emphasizes actual management applications. The new sixth edition is updated with fresh up-to-date vignettes and discussion questions from all over the world and enhanced with detailed instructor supplements. It is an ideal text for any course focusing on the practical application of microeconomic principles to management. The book provides truly useful economics for managers. In the words of one professor, "I can use your book for serious conversation with adult students."
Managerial Economics
by Satya P Das J. K. GoyalA textbook that sharpens the core decision-making skills of budding managers by using the concepts, logics and principles of microeconomics with suitable examples from 'India Inc.'. A thorough understanding of economics is an essential requirement for managers across all industries. The much-required second edition of Managerial Economics will be an incomparable guide for students of management with little or no understanding of economic principles. The text puts a strong emphasis on understanding the fundamental theories and concepts as well as their application in real-life business scenarios using India-centric examples. Entirely updated and revamped according to the changing pedagogical demands, the new edition contains the latest approaches to the teaching of managerial economics. It includes insight from the authors' international teaching background as well as their intimate understanding of the needs of Indian students. Key Features: • Well-organized chapters and segregated mathematical explanations that can be easily used in the courses with different requirements of complexity • Incorporates caselets and activities for the practical understanding of the topics discussed • Simple and engaging conversational style that makes complex topics accessible to beginners with no background in economics
Managerial Economics
by William F. Samuelson Stephen G. Marks Jay L. ZagorskyManagerial Economics, 9th Edition, introduces undergraduates, MBAs, and executives to the complex decision problems today’s managers face, providing the knowledge and analytical skills required to make informed decisions and prosper in the modern business environment. Going beyond the traditional academic approach to teaching economic analysis, this comprehensive textbook describes how practicing managers use various economic methods in the real world. Each in-depth chapter opens with a central managerial problem--challenging readers to consider and evaluate possible choices--and concludes by reviewing and analyzing the decision through the lens of the concepts introduced in the chapter. <p><p> Extensively updated throughout, the text makes use of numerous extended decision-making examples to discuss the foundational principles of managerial economics, illustrate key concepts, and strengthen students' critical thinking skills. A range of problems, building upon material covered in previous chapters, are applied to increasingly challenging applications as students advance through the text. Favoring practical skills development over complicated theoretical discussion, the book includes numerous mini-problems that reinforce students' quantitative understanding without overwhelming them with an excessive amount of mathematics.
Managerial Economics
by M. J. Alhabeeb L. J. MoffittUncertainty is present in every managerial decision, and Managerial Economics: A Mathematical Approach effectively demonstrates the application of higher-level statistical tools to inform and clarify the logic of problem solving in a managerial environment.While illuminating managerial decision-making from all possible angles, this book equips readers with the tools and skills needed to recognize and address uncertainty. The book also explores individual, firm, and market-level decisions; discusses all possible risks and uncertainties encountered in the decision-making process; and prepares readers to deal with both epistemic and aleatory uncertainty in managerial decisions. Managerial Economics features:* An emphasis on practical application through real-life examples and problems* An accessible writing style that presents technical theories in a user-friendly way* A mathematical and statistical point of view that reveals the presence of uncertainty inherent in managerial decisions* Thoroughly class-tested material including problems at the end of each chapter, case study questions, review exercises, and objectives that summarize the main discussionsManagerial Economics is an excellent book for upper-undergraduate and graduate-level courses in business and economics departments. The book is also an ideal reference and resource for managers, decision makers, market analysts, and researchers who require information about the theoretical and quantitative aspects of the topic.
Managerial Economics
by Philip Young Paul Keat Steve ErfleDirected primarily toward undergraduate/MBA students in Economics, this text also provides practical content to current and aspiring industry professionals. <p><p> This text will excite readers by providing a more linear progression, while proving the consistency and relevance of microeconomic theory. <p><p>The Seventh Edition welcomes a new co-author, Stephen Erfle of Dickinson College, who has contributed many revisions and improvements to the quantitative sections of the text, as well as provided a major addition: the use of Excel in the presentation of many of the numerical and graphical illustrations presented throughout the text.
Managerial Economics (Third Edition)
by Luke M. Froeb Brian T. Mccann Mikhael Shor Michael R. WardTeach your MBA students how to use economics to solve business problems with this breakthrough text. MANAGERIAL ECONOMICS: A PROBLEM SOLVING APPROACH, 3E covers traditional material using a problem-based pedagogy built around common business mistakes. Models are used sparingly, and then only to the extent that they help students figure out why mistakes are made, and how to fix them. This edition's succinct, fast-paced presentation and challenging, interactive applications place students in the role of a decision maker who has to not only identify profitable decisions, but also implement them. The lively book provides an excellent ongoing reference for students pursuing business careers. Instructor's remark, "The Froeb/McCann/Shor/Ward textbook is designed for decision makers. Each chapter provides logical steps to solve common but misunderstood business problems. The books candor and novelty make for easy, enjoyable reading. "
Managerial Economics And Strategy
by Jeffrey M. Perloff James A. BranderThe Second Edition has been fully revised and updated to reflect new supply-and-demand curves and include discussions of corporate social responsibility, opportunistic behavior, and innovation. It also features new learning objectives, examples, end-of-chapter questions, and spreadsheet exercises.
Managerial Economics For Dummies
by Robert J. GrahamThe easy way to make sense of managerial economicsDoes the study of Managerial Economics make your head spin? Relax! This hands-on, friendly guide helps you make sense of complex business concepts and explains to you in plain English how Managerial Economics enhances analytical skills, assists in rational configuration, and aids in problem-solving. Managerial Economics For Dummies gives you a better understanding of all the major concepts you'll encounter in the classroom: supply and demand, elasticity, decision-making, quantitative analysis of business situations, risk analysis, production analysis, pricing analysis, capital budgeting, critical thinking skills, and much more.Tracks to a typical Managerial Economics courseIncludes easy-to-understand explanations and examplesServes as a valuable classroom supplementIf you're enrolled in business courses looking for a supplemental guide to aid your understand of the complex theories associated with this difficult topic, or a manager already in the corporate world looking for a refresher, Managerial Economics For Dummies has you covered.
Managerial Economics and Business Strategy
by Jeff Prince Michael R. BayeManagerial Economics and Business Strategy has been revised to include updated examples and problems, but it retains all of the basic content that made previous editions a success. By teaching managers the practical utility of basic economic tools such as present value analysis, supply and demand, regression, indifference curves, isoquants, production, costs, and the basic models of perfect competition, monopoly, and monopolistic competition. <p><P> This 10th edition retails the emphasis on real-world examples and modern topics along with unique coverage found nowhere else: oligopoly, penetration pricing, multistage and repeated games, foreclosure, contracting, vertical and horizontal integration, networks, bargaining, predatory pricing, principal agent problems, raising rival’s costs, adverse selection, auctions, screening and signaling, search, limit pricing, and a host of other pricing strategies for firms enjoying market power. This balanced coverage of traditional and modern microeconomic tools makes it appropriate for a wide variety of managerial economics classrooms.
Managerial Economics of Non-Profit Organizations (Routledge Studies In The Management Of Voluntary And Non-profit Organizations Ser.)
by Marc JegersThis is the first book of its kind to bring together the microeconomic insights on the functioning of non-profit organizations, complementing the wide range of books on the management of non-profit organizations by instead focusing on both theoretical and empirical work. Jegers begins by considering definitions of non-profit organizations before ex
Managerial Economics, 5th Edition
by Ivan PngThe new fifth edition of Managerial Economics is an ideal text for any course focusing on the practical application of micro-economic principles to management. It includes fresh up-to-date discussion questions from all over the world and is enhanced with detailed instructor supplements. The book is a popular, useful choice for managers learning economics. An accompanying website, featuring a wealth of supplementary material, is available at https://sites.google.com/site/pngecon/
Managerial Economics, Second Edition: A Strategic Approach
by Tim Fisher Robert Waschik David PrenticeTraditional microeconomic theory has much to offer a manager. It suggests ways to increase profits by setting prices and packaging services, using advertising to increase demand and shows how internet auction sites like eBay affect competition and profitability. By using game theory to present and solve a manager’s decision-making problems and by focusing on the strategic nature of these problems, this text makes microeconomic theory much more intuitive and relevant for the business student. The text is separated into four sections: basic microeconomic theory of the firm and the basic tools of game theory problems related to the strategic interaction between firms, including price and quantity competition and product differentiation issues arising from strategic interactions within the firm, including vertical and horizontal integration, training and motivating workers, and labour unions marketing economics including information problems, advertising, durable goods and the product life cycle. This book will be suitable for any student with a background of introductory economics. The authors include a variety of international examples and case studies from the business world to expand and illustrate key concepts, and provide end-of-chapter exercises to test students’ grasp of the material. An online supplement comprising of problems and solutions as well as PowerPoint slides is available for lecturers.
Managerial Economics: A Game Theoretic Approach
by Tim Fisher Robert WaschikThis book can be used as a way of introducing business and management students to economic concepts as well as providing economics students with a clear grasp of how to use the skills they will need in the world of business.Topics covered include:*product differentiation*price discrimination*hiring and training workers*labor-management relations*international tradeA host of key features are employed to add colour to the text including case studies, examples and discussion questions. Scenarios presented centre upon a diverse range of subjects and firms including Eurostar, NHL hockey equipment, Chevrolet, Philips and pension plans.
Managerial Economics: A Problem-Solving Approach
by Nick WilkinsonManagerial economics, meaning the application of economic methods in the managerial decision-making process, is a fundamental part of any business or management course. This textbook covers all the main aspects of managerial economics: the theory of the firm; demand theory and estimation; production and cost theory and estimation; market structure and pricing; game theory; investment analysis and government policy. It includes numerous and extensive case studies, as well as review questions and problem-solving sections at the end of each chapter. Nick Wilkinson adopts a user-friendly problem-solving approach which takes the reader in gradual steps from simple problems through increasingly difficult material to complex case studies, providing an understanding of how the relevant principles can be applied to real-life situations involving managerial decision-making. This book will be invaluable to business and economics students at both undergraduate and graduate levels who have a basic training in calculus and quantitative methods.
Managerial Epidemiology: Cases And Concepts (Aupha/hap Book Ser.)
by Steven T. FlemingThe COVID-19 pandemic threw the world into turmoil and exposed a cascade of vulnerabilities. One of the many lessons learned from this pandemic is that epidemiological principles must be applied to manage healthcare services and control disease in populations. Managerial Epidemiology: Cases and Concepts provides a comprehensive introduction to epidemiology and its use in healthcare management. Extensively revised, this edition demonstrates, through 64 real-world case studies and numerous examples, how the tools and principles of epidemiology can help managers make better-informed decisions. Updates include: two new chapters on population health and confounding, bias, and effect modification; new cases focused on relevant healthcare management issues, such as health risk factors and capitation rates; a completely rewritten chapter on epidemiology and financial management; heavily revised chapters on case-control studies, cohort studies, randomized clinical trials, infectious disease epidemiology, mortality and risk adjustment, and cost-effectiveness analysis; a sharper focus on healthcare-acquired infections; and greater emphasis on needs assessment and healthcare planning. The book's case studies are presented in three levels. In-chapter cases and answer guides form an integral component of the book's learning process. End-of-chapter cases provide additional exercises for practical application, with answers supplied at the back of the book so that students can self-quiz. In the book's final section, in-depth capstone cases offer an opportunity for reviewing and synthesizing material from specific chapters. Today more than ever, healthcare administrators must use the information provided by epidemiological methods to optimally manage interventions, treatments, and healthcare services that affect the health of populations.
Managerial Ethics: Managing the Psychology of Morality
by Marshall SchminkeThis book combines management theory with ethical theory on a chapter by chapter, topic by topic basis. The volume bridges the theoretical, empirical and practical gap between management and ethics. It will be of interest to a cross disciplinary group of students, researchers and managers in business, management, organizational behavior, IO psychology and business ethics.
Managerial Finance
by Alan ParkinsonManagerial Finance provides a clear and readable explanation of the most important topics managers should understand about business finance. These include resource management, investment and decision making, as well as the practical use of financial rations and performance indicators. Real examples and case studies are used throughout to illustrate points in a practical context. The book is based upon the Management Charter Initiative's Occupational Standards for Management NVQs and SVQs at Levels 4 & 5 and is also particularly suitable for managers on Certificate and Diploma in Management programmes, including those accredited by the IM and Edexcel (formerly BTEC).Managerial Finance is part of the highly successful series of textbooks for managers which cover the knowledge and understanding required as part of any competency based management programme. The books cover the three main levels of management: supervisory/first-line management (NVQ level 3), middle management (Certificate/NVQ level 4) and senior management (Diploma/NVQ level 5).Alan Parkinson is the Hill Samuel Senior Lecturer in Accounting & Finance at the Open Business School. He was previously responsible as Director of the Open University MBA Programme for launching the highly successful MBA Course.
Managerial Finance in the Corporate Economy
by Dilip K. Ghosh Shahriar KhaksariIn most countries the economic structure and financial landscape are dominated by corporations. A critical examination of the various facets of the corporate economy is thus vitally important. In Managerial Finance in the Corporate Economy the authors use new theoretical apparatus and empirical evaluations to present such a study. The book includes new findings on mutual and pension funds, portfolio diversification, market volatility, financial institutions and corporate behaviour in the context of the international economy.
Managerial Flow (Routledge Advances in Management and Business Studies)
by Veronica Vecchi Manuela Brusoni Ben Farr-Wharton Rodney Farr-WhartonWhen globalization affects jobs and economies, policy makers strive to plan, design and implement actions to support their communities and businesses (Ansell and Gash 2007). Furthermore, local development policies are at the core of international cooperation programs or more in general represent a challenge for emerging countries. They could refer to infrastructure, entrepreneurship innovation or urban renewal. However, more frequently than not, development policies, which involve different institutional levels and public and private players, fail due to poor implementation management. This research book presents a managerial approach (the so called Managerial Flow) that could help the closure of gaps that hamper an efficient and effective policy execution. The managerial flow model observes the phenomenon of policy implementation for economic development through managerial lens. In the book, the research team has empirically identified five gaps in practice whereupon public policy implementation falls down. As a response Managerial Flow model outlines sets of managerial actions that can be adopted to facilitate a clear ‘flow’ from policy development through to implementation. This book expands on the Managerial Flow model, and acts as both a practical guide to stimulate evidence based policy implementation in governments and as theoretical contribution to policy and strategy execution. Written for researchers and academics, this book begins by outlining the theoretical foundations of Managerial Flow and moves to unpack application and cases, based in different sectors and countries, in order to discuss and show how the Managerial Flow approach can concretely support managers in the implementation of economic development policies. It reviews and discusses how the managerial flow could be relevant in the implementation of a set of sectorial policies and uses the managerial flow concept to analyse cases of economic development and establish lessons for broader management scope.
Managerial Fraud: Executive Impression Management, Beyond Red Flags
by Terry A. SheridanMost frauds perpetrated by senior managers take longer to uncover than those by other occupational groups and they steal more. This is a serious problem world-wide. Currently the Red Flag approach is used by auditors to prevent and uncover fraud and in some countries it is statutory. However, the existing approach does not catch managerial fraudsters quickly or very often. In Managerial Fraud, Dr Terry Sheridan reports the findings of her study of fraudulent executives. Her work illuminates the particular methods fraudsters employ to appear more authentic than the average person and reveals two types of executive fraudster with very different behaviours. All this helps to explain why the current Red Flag approach fails to identify potential fraudsters and instead tends to focus on Red Flag executives who are negative characters, but non-fraudulent and accounts for the problem auditors face, who see Red Flag indicators and are obliged to conduct further audits, yet find nothing of substance. During the author’s research, the innocent colleagues who worked closely with fraudulent managers have for the first time been interviewed about their experiences and had their impressions analysed, leading to the development of an innovative typology of fraudulent executives based on Impression Management Theory. Better understanding of what Dr Sheridan has uncovered might result in organisations being able to reduce their exposure to fraud perpetrated by their own senior management.
Managerial Issues in Finance and Banking
by Hasan Dincer Ümit HaciogluThis book discusses competitive issues related to globalization, financial system and institutions from a managerial perspective. Contributions in this volume cover competitive strategies, risk management, controlling and custom finance in Finance & Banking. The novelty of the book is in demonstrating the innovative solutions to managerial issues in the global financial system. The contributions in this volume are peer-reviewed by the Society for the Study of Business and Finance.
Managerial Labour Markets in Small and Medium-Sized Enterprises (Routledge Library Editions: Small Business)
by Pooran Wynarczyk Robert Watson Kevin Keasey David J. Storey Helen ShortFocussing on the relatively few small firms which grew rapidly, this book, originally published in 1993 uses face-to-face interviews as well as published records to identify and analyse the managerial factors most closely associated with successful small firms. The volume concentrates on the following key managerial issues: In what respects do the managerial backgrounds and aspirations of the founders of fast-growth small firms differ from those of non-fast-growth small firms? How is the process of growth managed? What incentives, remuneration packages and communication systems are instituted? How do these characteristics and experiences differ in fast-growth small firms from both the traditional small firm and large-firm sector? To what extent is it possible to explain the relative economic performance of small firms in terms of differences in their ownership, organizational and management structures.