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- Title
ECONOMIC, SOCIAL AND POLITICAL FACTORS IN INDUSTRIAL DECISION MAKING: THE CASE OF PROPERTY, PLANT AND EQUIPMENT REPLACEMENT IN LIBYAN MANUFACTURING COMPANIES.
- Authors
al-Abiyad, Shala Abulgacem; Handley-Schachler, Morrison
- Abstract
This paper examines the decision-making process relating to the replacement of property, plant and equipment in Libyan manufacturing companies, in order to establish the factors which influence decision-making generally. Primary research was carried out in the form of interviews, questionnaires and examination of plant and equipment in the company of engineering staff at a total of 37 Libyan manufacturing companies. The fi ndings indicate that the infl uence of economic theory in corporate decisionmaking is limited not only by a lack of education and knowledge of the theory or by individual psychological factors but also by sociological, political and organizational factors, which can result in decisions which are not economically optimal from the point of view of the organization itself or from that of the public interest.
- Subjects
LIBYA; DECISION making; REPLACEMENT of industrial equipment; FACTORIES; MANUFACTURING industries; ECONOMIC impact; SOCIAL factors
- Publication
World of Accounting Science, 2010, Vol 12, Issue 2, p189
- ISSN
1302-258X
- Publication type
Article