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- Title
DISCRETIONARY EXPENDITURES AND PROFIT RISK MANAGEMENT: THE GALBRAITH-CAVES HYPOTHESIS.
- Authors
Christofides, Louis N.; Tapon, Francis
- Abstract
This article discusses the Galbraith-Caves hypothesis on discretionary expenditures and profit risk management. In addition to being intrinsically interesting, the model provides a link between the three strands of analysis. The impact of business cycles on per unit discretionary expenditures of a business enterprise is ambiguous. The possibility of trading variance reductions against decreases in average profit accords with the models proposed by Galbraith and Caves.
- Subjects
BREAK-even analysis; COST accounting; BUSINESS cycles; ECONOMICS; ANALYSIS of variance; BUSINESS enterprises
- Publication
Quarterly Journal of Economics, 1979, Vol 93, Issue 2, p303
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1883196