Growth of the Agricultural Firm: Problems and Theories
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This review of growth theories of the firm is directed towards those theories of interest for managerial direction of the growth process of agricultural firms. It starts with a discussion of growth, growth directions, the growth process and associated problems. From this an analytical procedure is built up. which states a set of desirable features that theories suitable to guide managers of agricultural firms should contain. In the light of these, the following theories of firm growth are discussed: the traditional neo-classical approach to firm size, extensions of this approach, the growth theories of Edith Penrose and Robin Marris, and the combination of investment and finance theory possible with various types of mathematical programming and cybernetic and behavioural theory models.