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The Modigliani–Miller theorem (of Franco Modigliani, Merton Miller) is an influential element of economic theory; it forms the basis for modern thinking on capital structure. [ 1 ] [ 2 ] [ 3 ] The basic theorem states that in the absence of taxes , bankruptcy costs, agency costs , and asymmetric information , and in an efficient market , the ...
For example, a goal of earning 1% in every month of one year results in a greater risk than the seemingly equivalent goal of earning 12% in one year. 2. A second reason for strongly preferring the continuous form to the discrete form has been proposed by Sortino & Forsey (1996):
POSDCORB is an acronym widely used in the field of management and public administration that reflects the classic view of organizational theory. [1] It appeared most prominently in a 1937 paper by Luther Gulick (in a set edited by himself and Lyndall Urwick). However, he first presented the concept in 1935. [2]
Critical management studies (CMS) is a loose but extensive grouping of theoretically informed critiques of management, business and organisation, grounded originally in a critical theory perspective. Today it encompasses a wide range of perspectives that are critical of traditional theories of management and the business schools that generate ...
Members of public administration come in different forms and quantities. When understanding the theory of postmodern public administration, it is important to make a differentiation between postmodern theory and the postmodern era as well as being able to differentiate between post-modernity (period of time) and postmodernism (theory/philosophy ...
The Cultural Logic of Late Capitalism: pp. 1–54. Theories of the Postmodern: 55–66. Surrealism Without the Unconscious: 67–96. Spatial Equivalents in the World System: 97–129. Reading and the Division of Labor: 131–153. Utopianism After the End of Utopia: 154–180. Immanence and Nominalism in Postmodern Theoretical Discourse: 181–259.
Postmodernity (post-modernity or the postmodern condition) is the economic or cultural state or condition of society which is said to exist after modernity. [nb 1] Some schools of thought hold that modernity ended in the late 20th century – in the 1980s or early 1990s – and that it was replaced by postmodernity, and still others would extend modernity to cover the developments denoted by ...
The concept of Post-Fordism was originally invented by the economist Robin Murray in the British magazine Marxism Today in 1988. [1] It referred to the emergence of new production methods defined by flexible production, the individualization of labor relations and fragmentation of markets into distinct segments, after the stagnation and profitability crisis of rigid, bureaucratized Fordist ...