Originally published in 1968, this second volume of the Glasgow Studies in Profit, Business Saving and Investment uses the financial data assembled in Volume 1 to test economic theories of the factor distribution income, of the appropriation of profit, of the determinants of investment, and of the return on capital. The tests enabled the measurement of long-run and short-run variation of the ratio of profit to employee compensation in the United Kingdom at the level of individual industries and the whole industrial sector. As well as measuring the relationship between a company’s sales or profits and its expenditure on fixed assets, the book describes the long-term decline in the rate of return on capital in the UK and measures the effect of the intensity of competition on this return.
Table of Contents
Part 3: The Factor Distribution of Income 11. The Factor Distribution of Income in the United Kingdom 1870-1963 P. E. Hart Part 4: Econometric Analyses of Profit, Dividends and Business Saving 12. A Survey of Some Problems of Defining and Estimating Dividend and Business Saving Functions Gordon Fisher 13. A Macro-Econometric Analysis of the Appropriation of Profit in Manufacturing P. E. Hart 14. A Micro-Econometric Cross-Section Analysis of Business Saving P. E. Hart 15. Cross-Section Regression Analysis of Profit and Dividends in the Brewing Industry, UK, 1951-1963 Robin L. Alpine 16. The Determinants of Corporate Saving in Small Private Companies, UK, James Bates and S. J. Henderson Part 5: Investment and the Rate of Return on Capital 17. A Cross-Sectional Model of the Capital Expenditure Function Alexander B. Jack 18. A Long-Run Analysis of the Rate of Return on Capital in Manufacturing Industry, UK. 1920-1962 P. E. Hart
P. E. Hart is Professor Emeritus of Economics at the University of Reading.