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1、ABehavioralModeloftheRevenue-MaximizingMultinationalEnterpriseHuSonghua1ThisresearchisfinancedbyGuangDongNaturalScienceFoundation.ProjectNo.4203015LingnanCollege,SunYat-senUniversity,China510245Abstract:Virtuallyallthetheoreticalliteratureonthemultinationalenterprises(MNEs)so
2、farhasbeenconfinedtothescopeoftheprofit-maximizingassumption.Reasonableasthetraditionalassumptionmaybe,theuniformgoalandtheidenticalmotivationmaybetoosingle-mindedfortheMNEswithdiversestrategiesandgovernancestructures.Giventhevarietyandcomplexityofbothbusinessenvironmentandma
3、nagerialneeds,itisnotonlylikely,butalsorealistic,fortheMNEstopursuealternativegoalsunderdifferentplanningtimehorizons.Inpractice,themanagementoftheMNEmayseeksales-revenue-maximizationbecauseofstrategicintentsandselfishmotives.Byincorporatingthephenomenonofmulti-plant,multi-st
4、rategyandmultinationalmarket,thispaperproposesamodeloftherevenue-maximizingMNEsubjecttotheprofitconstraint.ThenonlinearprogrammingtechniquesareusedfortheequilibriumanalysisoftheMNE'sdecision-making.Asetofoptimalconditionsisderivedregardingthequantityofoutput,volumeofintra-fir
5、mtrade,allocationofmultinationalproduction,aswellastransferpricesinbothexogenousandendogenouscases.Underthecontext,acomparisonofthebehavioraldifferencesismadebetweentherevenue-maximizingMNEandtheprofit-maximizingMNE.Keywords:MultinationalEnterprise,Revenuemaximization,Behavio
6、ralmodel,Constrainedsales-maximizationJELclassification:F231.IntroductionThebehavioralmodelsofthecorporationsrepresentsignificantdevelopmentsofthemoderntheoryofthefirm.Thewell-knownbehavioralmodelsinclude:management’ssatisfyinghypothesis(CyertandMarch,1963),managementutilitym
7、aximization(Williamson,1964),andconstrainedsales-maximization(Baumol,1967).Bycontrast,virtuallyallthetheoreticalliteratureonthemultinationalenterprises(MNEs)sofarhasbeenconfinedtothescopeoftheprofit-maximizingassumption.Reasonableasthetraditionalassumptionmaybe,theuniformgoal
8、andtheidenticalmotivationmaybetoosingle-mindedfortheMNEswithdiverses
