haku: @author Miller, K. / yhteensä: 15
viite: 9 / 15
| Tekijä: | Miller, K. Leiblein, M. |
| Otsikko: | Corporate risk-return relations: returns variability versus downside risk |
| Lehti: | Academy of Management Journal
1996 : FEB, VOL. 39:1, p. 91-122 |
| Asiasana: | RISK COMPANIES MANAGEMENT |
| Kieli: | eng |
| Tiivistelmä: | This study tested a model of firm risk-return relations in which risk was conceptualized in terms of downside outcomes. Drawing on the behavioral theory of the firm, the authors developed a set of hypotheses involving downside risk, return, and organizational slack. The hypothesized risk and return relations were tested using both downside risk and the conventional standard deviation of returns. The results indicate downside risk results in improved subsequent performance. Performance shows a negative relation with subsequent downside risk. |
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