To save content items to your account,
please confirm that you agree to abide by our usage policies.
If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account.
Find out more about saving content to .
To save content items to your Kindle, first ensure no-reply@cambridge.org
is added to your Approved Personal Document E-mail List under your Personal Document Settings
on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part
of your Kindle email address below.
Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations.
‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi.
‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Questions have been raised in recent years concerning the interpretation of previous studies purporting to show that distributed earnings have had a consistently greater impact on equity prices than have retained earnings. Miller and Modigliani have convincingly argued that if capital markets are perfect and rational behavior of market participants is assumed, the price-earnings ratio of the shares of a firm with a given investment policy should be invariant to alternative earnings-payout ratios. They also point out, however, that with the present tax subsidy on capital gains and the existence of substantial brokerage fees and flotation costs, dividend policy might be expected to have an effect on share prices, even though the amount and direction of this effect is an empirical matter and not determinable a priori.
In the manner of the Creole tradesmen of Louisiana, whose lagniappe to their patrons is legendary, the Editor offers a similar bonus to readers of the Review. Instead of trifling presents added to a purchase, however, our lagniappe will be notes and documents illustrative of the evolution of business enterprise.
Because of a scarcity of economically informed and managerially experienced personnel within the government, a large share of American mobilization during World War I was planned and executed by businessmen in temporary federal service. By focusing on the crucial question of military procurement, Professor Koistinen illuminates the war's legacy for government-business relationships.
In the rush to gear-up the American economy during World War I, what role did those business executives who were recruited into government service play? This study of a notable example of the “dollar-a-year man” suggests that a reciprocal learning experience on the part of both business and government was the result.
Railroads were unquestionably a leading sector of economic development in the American South following the Civil War. By appraising the growth strategies followed by southern roads as functions of their profitability, the authors illustrate how the supply of regional transport in the South was patterned by the decisions of competing groups of businessmen.
In their debates over the functions of advertising (such as “tell versus sell” and “inform versus manipulate”), practitioners have employed various conceptualizations of the “nature” of man. Implicitly and explicitly, as Professor Curti reveals, these views also tell us much about the “nature” of American society in the twentieth century.