Journal article
Organizational Risk Taking: Adaptation versus Variable Risk Preferences
- Abstract:
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The observed association between performance and organizational risk taking has usually been attributed to the influence of performance on risk preferences. Here I show how a simple model of adaptation, which only assumes that organizations avoid activities with poor past performance, can explain the empirically observed U-shaped association between risk and return. The model also makes novel predictions, which are shown to be consistent with the data. The findings suggest that risk taking ma...
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- Publication date:
- 2008-01-01
Item Description
- UUID:
-
uuid:3caf5ef6-14dc-46f8-959e-412ceefc35c2
- Local pid:
- oai:eureka.sbs.ox.ac.uk:992
- Deposit date:
- 2011-10-26
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- Copyright date:
- 2008
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