Conglomerates, Earnings forecasting, Earnings predictability, Earnings disaggregation

Book review, Fisher model, Capital, Income

This paper presents the results of a study which sought to determine whether the status of large member banks as owner-controlled or management-controlled has borne a significant relation to bank profit rates during recent years. The impetus for the study was provided by the view, encountered frequently in the literature, that management-controlled firms may place less emphasis on profit rate than owner-controlled firms, sacrificing it for performance goals regarded as more consistent with management interest. W. Baumo.1 [1, p. 4 and pp. 101–104], for example, has argued that management-controlled firms may sacrifice profit rate in order to achieve higher growth rate and reduced risk acceptance. R. Monsen and A. Downs [11] suggest that such firms may sacrifice both profit rate and growth rate for reduced risk acceptance. K. Cohen and S. Reid, in their study of bank merger activity during 1952–1961 [5], argue that bank managers, as compared to bank owners, place more emphasis on growth rate and less emphasis on profit-associated variables. Other possibilities present themselves. Management-controlled firms may sacrifice profit rate directly for management salaries, bonuses, and fringe benefits, including benefits associated with management prestige. The management-controlled firms may simply pursue efficiency less vigorously.

Journal Article Weak Experimental Verification of the Expected Utility Hypothesis Get access R. N. Rosett R. N. Rosett University of Rochester Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 4, October 1971, Pages 481–492, https://doi.org/10.2307/2296691 Published: 01 October 1971

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 The Invariably Stable Cobweb Model Get access R. D. Auster R. D. Auster The City College of the City University of New York Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 1, January 1971, Pages 117–121, https://doi.org/10.2307/2296630 Published: 01 January 1971

Journal Article The Dynamic Effects of Fiscal Policy in an Economy with Foresight Get access R. E. Hall R. E. Hall University of California, Berkeley Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 2, April 1971, Pages 229–244, https://doi.org/10.2307/2296781 Published: 01 April 1971

Journal Article Cournot Oligopoly and Competitive Behaviour Get access R. J. Ruffin R. J. Ruffin University of Iowa Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 4, October 1971, Pages 493–502, https://doi.org/10.2307/2296692 Published: 01 October 1971

I. The Ashenfelter-Pencavel model, 187.—II. An alternative model, 190.