Patterns of sustained performance: beginnings, paths and ends
AbstractSummary Using the last decade of Center for Research on Security Prices data and the Capital Asset Pricing Model model to compare firms, we assess the origins, paths and destinations of extreme firm performance. We find that firms that will experience a run of persistent superior (inferior) performance are likely to start at a position of inferior (superior) performance, and that the runs of sustained performance are fairly linear. We also find that failed firms follow a path that reveals a resilience to decline rather than an accelerating acceptance of it, whereas extremely successful firms usually accelerated to their apexes. Overall, the results show that there are several distinct and important types of extreme performance that each require further study.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal European Management Journal.
Volume (Year): 28 (2010)
Issue (Month): 3 (June)
Contact details of provider:
Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/115/description#description
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If references are entirely missing, you can add them using this form.