MANAGERIAL UTILITY FUNCTION AND ITS IMPACT ON DECISION-MAKING IN THE COMPANY

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F25619161%3A_____%2F17%3AN0000047" target="_blank" >RIV/25619161:_____/17:N0000047 - isvavai.cz</a>

Výsledek na webu

<a href="http://knowledgeconference.upol.cz/downloads/2017-Knowledge_for_Market_Use_Proceedings.pdf" target="_blank" >http://knowledgeconference.upol.cz/downloads/2017-Knowledge_for_Market_Use_Proceedings.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

MANAGERIAL UTILITY FUNCTION AND ITS IMPACT ON DECISION-MAKING IN THE COMPANY

Popis výsledku v původním jazyce

This paper focuses on the comparison of current theories of the firm, which are further used as inputs for the managerial utility function. The quantification of this function is also based on the principal-agent problem. The individual approaches to the problem of firm's theory are represented by Baumol's and Williamson's model, whose mathematical expression of maximization utility benefits is implemented into one function of the managerial utility, as the main output of this paper. The result is the function of utility, which depend on four variables (total revenue, employee expenses, minor benefits and personal preferences). In addition, the paper represents a possible implementation of this function into the company's decision-making process. The assumption for this implementation is multiple-criteria decision analysis (MCDA). The paper uses the principles of mul tiple-criteria decision making, especially Saaty's matrix.

Název v anglickém jazyce

MANAGERIAL UTILITY FUNCTION AND ITS IMPACT ON DECISION-MAKING IN THE COMPANY

Popis výsledku anglicky

This paper focuses on the comparison of current theories of the firm, which are further used as inputs for the managerial utility function. The quantification of this function is also based on the principal-agent problem. The individual approaches to the problem of firm's theory are represented by Baumol's and Williamson's model, whose mathematical expression of maximization utility benefits is implemented into one function of the managerial utility, as the main output of this paper. The result is the function of utility, which depend on four variables (total revenue, employee expenses, minor benefits and personal preferences). In addition, the paper represents a possible implementation of this function into the company's decision-making process. The assumption for this implementation is multiple-criteria decision analysis (MCDA). The paper uses the principles of mul tiple-criteria decision making, especially Saaty's matrix.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50204 - Business and management

Projekt

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Návaznosti

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

KNOWLEDGE FOR MARKET USE 2017: PEOPLE IN ECONOMICS – DECISIONS, BEHAVIOR AND NORMATIVE MODELS

ISBN

978-80-244-5233-3

ISSN

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e-ISSN

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Počet stran výsledku

7

Strana od-do

747-753

Název nakladatele

Univerzita Palackého v Olomouci

Místo vydání

Olomouc

Místo konání akce

Olomouc

Datum konání akce

1. 1. 2017

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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