Internal Control, 17th century

Journal Article The Structure of the Cost of Capital under Uncertainty Get access A. Beja A. Beja Tel Aviv University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 3, July 1971, Pages 359–368, https://doi.org/10.2307/2296388 Published: 01 July 1971

The approach of selecting a portfolio of stocks on the basis of expected return and variance was introduced by Markowitz [18] in 1952 and subsequently was more fully developed by him [19] in 1959. Since this time, there has been considerable research either directly concerned with, or related to, the Markowitz model. The utility implications of his assumption that an investor chooses a portfolio solely on the basis of expected return and variance (where variance is identified with risk) have been studied, [1], [A], [22], and [31]. A simplified method of solving for the efficient set of portfolios under the assumption of a regression structure has been developed by Sharpe [26], and approximation methods have been suggested [25] and [29]. Empirical tests (with partially contradictory conclusions) of portfolio selection theory are described in [5], [7], [8], [20], and [27]. Studies of economic questions (such as liquidity preference, equilibrium stock prices, substitutability of risky assets, etc.), as formulated within the portfolio model, can be found in [10], [11], [13], [14], [16], [23], and [28]. A related portfolio selection approach, based on the assumption of a Pareto underlying distribution, has been suggested by Fama [6]. A modification by Baumol [2] introduced a confidence limit criterion. Also, some initial attempts have been made at deriving related adaptive models of portfolio selection, [21], [30].

Journal Article Counter-examples to an Assertion concerning the Normal Distribution and a New Stochastic Price Fluctuation Model Get access R. A. Agnew R. A. Agnew Air Force Institute of Technology Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 3, July 1971, Pages 381–383, https://doi.org/10.2307/2296391 Published: 01 July 1971

Journal Article Corporate Taxation and Dividend Behaviour—A Comment Get access M. A. King M. A. King University of Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 3, July 1971, Pages 377–380, https://doi.org/10.2307/2296390 Published: 01 July 1971

Journal Article An Exploration in the Theory of Optimum Income Taxation Get access J. A. Mirrlees J. A. Mirrlees Nuffield College, Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 2, April 1971, Pages 175–208, https://doi.org/10.2307/2296779 Published: 01 April 1971

Journal Article Additive Utility Functions and Linear Engel Curves Get access Robert A. Pollak Robert A. Pollak University of Pennsylvania Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 4, October 1971, Pages 401–414, https://doi.org/10.2307/2296686 Published: 01 October 1971

Journal Article Capital Taxes, the Redistribution of Wealth and Individual Savings Get access A. B. Atkinson A. B. Atkinson St John's College, Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 2, April 1971, Pages 209–227, https://doi.org/10.2307/2296780 Published: 01 April 1971

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Each business firm has a large body of fundamental data that can be organized so that it can aid in graphically determining the firm's optimum profit. In this paper an attempt has been made to bring forth a method by which some choice of policy may be followed in order to select a particular profit curve. More precisely, a policy will be determined that leads to a given optimal profit curve. In this paper “optimal profit curve” will mean the profit curve that has been selected from a fixed set of possible profit curves. The purpose of the paper is to describe a method to determine the policy that will reduce the optimal curve. The method is based on a general form of the Riesz- Kakutani Representation Theorem, which states that a bounded linear operator from the space of continuous functions of one variable t where 0 ≤ t ≤ 1 to the space of continuous functions can be represented as an integral to a Gowurin measure.