Corporate finance, the theory of the firm, and organizations

Article Abstract:

It is now time to start to bring together the view of the firm put forward by Ronald Coase, in which attention focuses on the interactions between owner-managers, and the perspective presented by Adolf Berle and Gardiner Means, which emphasizes the separation of ownership and control in most companies. A firm must be regarded as being made up of at least two tiers of agency relationships. One of these is between investors and corporate headquarters, and the other between corporate headquarters and the divisions. Any attempt to understand the boundaries of firms must take into account the efficiency of decision-making within firms.

Analysis, Organizational behavior

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American government finance in the long run: 1790 to 1990

Article Abstract:

The methods used by governments to raise revenues affects the roles of different levels of government. Levels of government able to collect revenue most cheaply tended to be most active, and which level this has been has varied from 1790 to 1990. The services and functions provided by the government affect government spending levels as a proportion of gross national product, and the revenue source does not appear to have an impact on spending levels. The government provides basic economic and social services, and this provision does not appear likely to undergo major changes.

History, Public finance, Government spending policy

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Policy watch: congressional campaign finance reform

Article Abstract:

Studies challenge the assumption that challenger spending is as potent as expense limits for candidates, public funding and limits on funds individual politicians get from Public Action Committees (PACs). This means that curbing PACs cash contributions will not have that great an impact and campaign finance reform will not affect the American political system greatly. So politicians, the media and public may as well tackle other important subjects.

Finance, Political campaigns

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