Contents -- Preface -- Acknowledgments -- Chapter 1 An Agenda for Increasing Productivity: An Introduction -- Chapter 2 Corporate Tax Modification Proposals -- Capital Structure and Corporate Taxes -- The Integration of Corporate and Personal Tax Rates -- Capital Gains Taxes -- Eliminating Interest as a Deduction -- Leveling the Playing Field -- The Use of Debt -- Conclusions -- Chapter 3 Productivity and the Net Present Value Calculation -- Other Measures -- The Next Generation of Investments -- Conclusions -- Chapter 4 A Managerial Incentive Strategy for Increased Productivity -- The Problems of Measuring Performance -- Problem 1 -- Problem 2 -- Problem 3 -- Problem 4 -- Problem 5 -- Problem 6 -- Setting Goals -- Non-Financial Considerations -- Return on Investment -- Limitations -- Constant Benefits -- Problem 1 -- Problem 6 -- Asset Redeployment -- Conclusions -- Chapter 5 Economic Income -- Divestments an Opportunity Cost -- Changing Interest Rates -- Risk Adjustments -- The Pay Off -- ROI and Liquidity and Economic Income -- One Flaw -- Quality Points -- Economic Income and Net Present Value -- Comparisons of Divisions -- Continuity of Firm's Existence -- Conclusions -- Chapter 6 Flexible Wages: A Wage Plan for Increased Productivity -- The Solution -- Issues to be Resolved -- Basic Minimum Hourly Wage -- Basic Return on the Stock Equity -- The Split -- Which Profit? -- The Share Economy -- When Does It Apply? -- The A&P Case -- The Investment Banking Community -- Conclusions -- Chapter 7 Industrial Democracy -- Andrew Carnegie -- William O. Douglas -- Owen D. Young -- The Consequences of Young's Address -- The Concern of Brandeis -- The Risks -- Restricted Stock? -- Conclusions -- Chapter 8 Correcting One Problem: Introducing Present Value Depreciation -- An Example: Constant Benefits -- Using Present Value Depreciation.

Using Straight-Line Depreciation -- Another Example: Increasing Benefits -- Using Straight-Line Depreciation -- Using Present Value Depreciation -- Units of Production -- Negative Depreciation -- Gaming by Management -- Using the Gross Investment -- Cash Flow ROI -- Conclusions -- Chapter 9 Using Earnings Per Share and Stock Prices to Measure Managerial Performance -- Earnings Per Share -- Stock Price -- Short Run-Long Run -- A Solution: Use the Long Term -- Conclusions -- Chapter 10 Ten Management Errors -- Conclusions -- Chapter 11 Costs of Capital by Division -- The Risk Measure -- Classification of Divisions -- How High a Hurdle? -- Conclusions -- Chapter 12 Mergers, Acquisitions and LBOs -- The Motivation to Use Debt -- The Return on Investment Illusion -- Greenmail -- Conclusion -- Chapter 13 Little Differences and Big Results -- Government Spending, Deficits and Productivity -- The Sale of Expertise to Competitors -- Outsourcing -- The Sale of Technology -- The Business School Dean -- An Anti-Trust Program -- Annoying Inefficiencies -- Conclusions -- Chapter 14 Scientific Management -- The Manufacturing Process -- Louis Brandeis and Taylor -- The Objections -- The Elements of Scientific Management -- Others Who Advocated -- Henry R. Towne -- Conclusions -- Chapter 15 Corporate Strategies -- Best Practices -- Choice of Production Location -- The Annual Planning Cycle -- Outside Help -- Technology Leadership -- Exiting a Business -- Managing Mistakes -- Conclusions -- Chapter 16 Achieving an Improved Competitive Position -- Improved Financial Reporting -- Improved Financial Decision Processes -- The Compensation Policy -- Setting and Achieving Goals -- Non-Financial Considerations -- Beyond the Firm -- Pensions -- Conclusions -- Subject Index.