The risk-return paadox for strategic management : (Record no. 32560)
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| 000 -LEADER | |
|---|---|
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| 001 - CONTROL NUMBER | |
| control field | 0042610502637 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | OSt |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20190211171150.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 100426s2009 xx ||||gr |0|| 0 eng d |
| 999 ## - SYSTEM CONTROL NUMBERS (KOHA) | |
| Koha Dewey Subclass [OBSOLETE] | PHL2MARC21 1.1 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | eng |
| 100 1# - MAIN ENTRY--PERSONAL NAME | |
| Personal name | HENKEL, Joachim |
| 9 (RLIN) | 39629 |
| 245 10 - TITLE STATEMENT | |
| Title | The risk-return paadox for strategic management : |
| Remainder of title | disentangling true and spurious effects |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Place of publication, distribution, etc. | Bognor Regis : |
| Name of publisher, distributor, etc. | Wiley-Blackwell, |
| Date of publication, distribution, etc. | March 2009 |
| 520 3# - SUMMARY, ETC. | |
| Summary, etc. | The concept of risk is central to strategy research and practice. Yet, the expected positive association between risk and return, familiar from financial markets, is elusive. Measuring risk as the variance of a series of accounting-based returns, Bowman obtained the puzzling result of a negative association between risk and mean return. This finding, known as the Bowman paradox, has spawned a remarkable number of publications, and various explanations have been suggested. The present study contributes to this literature by showing that skewness of individual firm' return distributions has a considerable spurious effect on the empirically estimated mean-variance relationship. I devise a method to disentangle true and spurious effects, illustrate it using simulations, and apply it to empirical data. It turns out that the size of the spurious effect is such that, on average, it explains the larger part of the observed negative relationship. My results might thus help to reconcile mean-variance approaches to risk-return analysis with other, ex-ante, approaches. In concluding, I show that the analysis of skewness is linked to all three streams of literature devoted to explaining the Bowman paradox. |
| 773 08 - HOST ITEM ENTRY | |
| Title | Strategic Management Journal |
| Related parts | 30, 3, p. 287-303 |
| Place, publisher, and date of publication | Bognor Regis : Wiley-Blackwell, March 2009 |
| International Standard Serial Number | ISSN 01432095 |
| Record control number | |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Koha item type | Periódico |
| 998 ## - LOCAL CONTROL INFORMATION (RLIN) | |
| -- | 20100426 |
| Operator's initials, OID (RLIN) | 1050^b |
| Cataloger's initials, CIN (RLIN) | Daiane |
| 998 ## - LOCAL CONTROL INFORMATION (RLIN) | |
| -- | 20100428 |
| Operator's initials, OID (RLIN) | 1708^b |
| Cataloger's initials, CIN (RLIN) | Carolina |
No items available.
