The Development of Firms: An Empirical Study with Special Reference to the Economic Effects of Taxation

The Development of Firms: An Empirical Study with Special Reference to the Economic Effects of Taxation

The Development of Firms: An Empirical Study with Special Reference to the Economic Effects of Taxation

The Development of Firms: An Empirical Study with Special Reference to the Economic Effects of Taxation

Excerpt

This book is a report of a general inquiry into the development of firms and the factors which may limit their rates of development. The results have been used for a specific purpose -- to examine the effects of taxation of profits. It is based on case studies of the post-war development of 36 firms in the Birmingham area.

A report on the results of this inquiry, which contained in substance most of this book, was prepared and sent to the Board of Trade- in August 1957. I am very disappointed that other commitments have delayed its preparation for publication for so long, although I believe that whatever value there may be in the method, case studies, or conclusions has not been entirely lost by delay.

The principles of the theoretical framework were worked out in 1954 and 1955; the material for the case studies was collected in 1955 and 1956; the first report was prepared in 1957. Unfortunately it was only after the bulk of that report had been completed that several important conclusions about the classification of the firms emerged. Also, after submitting the report, I discovered some numerical errors. It was therefore necessary to redraft extensively and to revise all the calculations (all but three of the errors turned out, in the end, to be trivial). This work was not completed by the end of 1958, when I took up an appointment for two years in H.M. Treasury. In the short interval between that appointment and another the book has been finished; but I have not been able to take any account of the literature of the past few years, including, with particular regret, MrsE. Penrose book on the Theory of the Growth of the Finn, which contains many similar ideas.

The fieldwork of this research was made possible by a grant for research assistance made available through the Board of Trade, under the Conditional Aid Scheme for the use of Counterpart Funds derived from United States Economic Aid.

It is impossible for me to give adequate acknowledgement to . . .

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