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Please use this identifier to cite or link to this item: http://hdl.handle.net/10023/918
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Title: The determinants of corporate growth
Authors: Rosique, Francisco
Supervisors: FitzRoy, Felix
Keywords: Models with panel data
Capital
Productivity
Firm choice
Growth
Investment
Corporate finance
Firm objectives
Firm performance
Industry studies
Manufacturing
Primary products and construction
Services
Transportation and utilities
Business economics
Research and development
JEL Classifications: C33 ; D24; D92; G30; L21; L25; L60; L70; L80; L90; M21; O32.
Issue Date: 23-Jun-2010
Abstract: Corporate growth is a concept that has been widely treated in a specific way or as part of strategy theories, in definition and in econometric models and has also been studied in many different aspects and approaches. The author describes in depth the main variables affecting corporate growth and the underlying business processes. This empirical research has focused on sales, profit-cash flow, risk, created shareholder value, market value and overall performance econometric models. These panel data models are based on the 500 Companies of the Standard & Poor’s 500. The methodology used has been very strict in identifying exogenous variables, walking through the different alternative econometric models, discussing results, and, in the end, describing the practical implications in today’s business corporate management. We basically assume that the functions/departments act independently in the same company, many times with different objectives, and in this situation clear processes are key to clarify the situations, roles and responsibilities. We also assume that growth implies interactions among the different functions in a company and the CEO acts to lead and coach his immediate Directors as a referee of the key conflicts through his operating mechanism. The objective of this PhD dissertation is to clarify the business priorities and identify the most relevant variables in every process leading to the highest efficiency in reaching a sustainable and profitable growth. It covers the lack of academic studies on the nature and specific driving factors of corporate growth and provides a working framework for entrepreneurs and management leading to the company’s success.
URI: http://hdl.handle.net/10023/918
Type: Thesis
Publisher: University of St Andrews
Appears in Collections:Economics & Finance Theses



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