Premium
MULTIPLE OBJECTIVES IN ACCOUNTING AND FINANCE
Author(s) -
Bhaskar Krish,
McNamee Patrick
Publication year - 1983
Publication title -
journal of business finance and accounting
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.282
H-Index - 77
eISSN - 1468-5957
pISSN - 0306-686X
DOI - 10.1111/j.1468-5957.1983.tb00455.x
Subject(s) - proxy (statistics) , accounting , empirical evidence , corporate finance , economics , actuarial science , profit (economics) , business , finance , microeconomics , statistics , mathematics , philosophy , epistemology
This paper fnst discusses the results of previous empirical and theoretical work relating to multiple objectives. It then reports on a survey carried out in 1978 by means of a questionnaire circulated to the top 500 companies. The paper finds that despite strong evidence of multiple objectives, the profit motive is dominant, although there is evidence of growth as a significant objective. Proxy goals for a single primary objective function are found to be present, particularly in relation to risk. Finally, the implications of these results for accounting and finance are discussed.