Some researchers also have investigated the investment process itself and growth of LMF as compared to CF. Furuboth (1976) lays out the analytic framework for the inter-temporal objective function of the LMF. Atkinson (1973), with a much more restrictive model compares explicitly investment decisions and growth of CF and LMF also taking into account technological progress, economy of scale effects, and separation of ownership and control. The most important results derived by Atkinson are (a) that it is most likely that the initial scale of operation and the growth rate of CF exceed those of LMF; and (b) that separation of ownership an control enhances the growth performance in both system, but that the CF would still outperform its LMF twin.