91 godwin n nelson ja ackerman f and weisskopf t 2009

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91. Godwin, N., Nelson, J.A., Ackerman, F., and Weisskopf, T., 2009. Microeconomics in Context. 2/E, M.E. Sharpe: London. 92. Freeman, R.E., and Read, D.L., 1983. “Stockholders and Stakeholders: A new Perspective on Corporate Governance”, California Management Review, 25 (Spring). . Freeman, R.E., 1998. “Stakeholder Theory of the Modern Corporation” in Pincus, L.B, (Ed.), Perspectives in Business Ethics, McGraw Hill, Singapore, p. 171–181. 93. Godwin, N., Nelson, J.A., Ackerman, F., and Weisskopf, T., 2009. Microeconomics in Context. 2/E, M.E. Sharpe: London.
THE BASICS OF BUSINESS MANAGEMENT – VOL I 274 ENDNOTES 94. The more the company is good at marketing and especially branding, the more it gets more sells – and ultimately becomes visible and profitable, more especially in the new era aided by the internet. 95. Levine (1992) and Wadhwani and Wall (1992) cited in Best, J.R., (2009), “Employee Satisfaction, Firm Value and Firm Productivity”, University of Central Missouri, Department of Economics and Finance, Spring 2008 96. Booth, P., 20102., and the Pursuit of Happiness Wellbeing and the Role of Government, The Institute of Economic Affairs, London. 97. 98. Godwin, N., Nelson, J.A., Ackerman, F., and Weisskopf, T., (2009:306). Microeconomics in Context. 2/E, M.E. Sharpe: London. 99. Godwin, N., Nelson, J.A., Ackerman, F., and Weisskopf, T., (2009:206). Microeconomics in Context. 2/E, M.E. Sharpe: London. 100. Godwin, N., Nelson, J.A., Ackerman, F., and Weisskopf, T., (2009:306). Microeconomics in Context. 2/E, M.E. Sharpe: London. 101. In US, patent protection allows a firm exclusive use of an invention for period usually covering 17 to 20 years – that is when the patent expires. 102. In the traditional theory of economics, the firm’s key objective is profit maximisation. 103. For more details about Asymmetric Information, read Pindyck, S.R., and Rubinfeld, L.D., (2013:631). Microeconomics. 8/E, International Edition. Pearson Education. 104. Akerlof, G., (1970), “The Market for the ‘Lemons’: Quality Uncertainty and the Market Mechanism”, Qaurterly Journal of Economics. Vol. 84, No. 3: 488–500 105. Akerlof, G., (1970), “The Market for the ‘Lemons’: Quality Uncertainty and the Market Mechanism”, Qaurterly Journal of Economics. Vol. 84, No. 3: 488–500 106. Akerlof, G., (1970), “The Market for the ‘Lemons’: Quality Uncertainty and the Market Mechanism”, Qaurterly Journal of Economics. Vol. 84, No. 3: 488–500 107. Pindyck, S.R., and Rubinfeld, L.D., (2013:635). Microeconomics. 8/E, International Edition. Pearson Education. 108. Spence, M., (1974). Market Signaling. Cambridge, MA: Harvard University Press 109. Pindyck, S.R., and Rubinfeld, L.D., (2013:639). Microeconomics. 8/E, International Edition. Pearson Education. 110. Pindyck, S.R., and Rubinfeld, L.D., (2013:639). Microeconomics. 8/E, International Edition. Pearson Education. 111. Bator, Francis. 1958. “The Anatomy of Market Failure.” Quarterly Journal of Economics: 72: 351-79. 112. If people cannot be excluded from the benefits of such goods as national defense, they have an incentive to have a free ride – that is, consume it without paying for it. The quantity of a good that a person is able to consume is not influenced by the amount the person pays for that good. So no one has an incentive to pay for the good.

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