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Published in:
1976 | OriginalPaper | Chapter
Sales-Revenue Maximisation
Author : P. J. Curwen
Published in: The Theory of the Firm
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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Baumol1 has put forward the idea that a firm has as its objective the maximisation of sales revenue subject to a profit constraint. He claimed that firms give precedence to the pursuit of maximum sales revenue over the pursuit of maximum profit because managers believe that their salaries, power and standing, both within their own company and within the business community at large, are more closely related to the attainment of the former than the latter objective.